Earlier today before turning negative were just off the lows of the day. Rates are in focus the tenyear is pushing past two six. Pete, whats happening we erase a 280point gain the other day. Then we go up more than 300. Then today we find ourselves falling as we speak. A little slipping welcome to the new world of the market welcome to the new world, and you talk about 1,500 points, thats why were seeing the volatility rise the way were seeing it. This is significant. These moves are huge they have volume behind them i was talking about the volumes the other day in the options world. 24 million, 37 million contracts over the last three sessions so volatility is here, scott i wouldnt be surprised if we start to see a new range for volatility everybody has been expecting it. But we get these kind of moves, and we still have plenty of different political reasons for the stock market to move, along with where i know, steve, in a note earlier today, was talking about what hes seen in the te
Asia fx and Commodity Trades . Socgen surprises. For a lossctations posting a net income of 69 million euros. We will speak to the ceo. Than our peers. It is a modest decline. We have been doing better. We are gaining market share. Matt we are less than half an hour from the start of european trading. Futures indicating a lower open across europe. A hohum loss in the u. S. Yesterday and that spread through asia overnight. Futures are indicating a lower loss open for a hohum loss. London, germany, the cac, all the european indexes. If you take a look at bonds it can see investors are selling off debt and pushing them the yields up. Treasuries up over 2. 8 . Were looking at 2. 83 right now and treasuries after the 10 year rose a little bit more than one basis point in asian trading. What are you seeing on the gmm . A move on thisdo i want to highlight something. Chinese markets down overnight by 1 . China, is whatin is happening with the renminbi. We will get into the details of why it i
Toward the close, just a few hours away from the closing bell. We are mixed right now. Digesting whatl the fed said yesterday, but also the gdp numbers that came out this morning, the second order gdp numbers. A bit of a disappointment there among economists in terms of the topline gdp growth. But we did see consumption of 2. 9 , and that seemed to be a bright spot. Also in the treasury markets, yes, you see the 10 year yield continues to come down. But the twoyear note is rising. The gap continues to narrow and that is because we are expecting september rate hikes. In terms of the currency markets, weve been watching the dollar hover at the fourmonth high. The euro is trading higher again lower again given the dollar strength. Bek a lot of that seems to because the consensus is there will be a fed rate hike in september. For the next two months, that data will be very significant. Betty mark indeed. Lets betty indeed. Mark lets take a look at some of the other top stories. An object f
Can you even imagine . Well, it was pretty dramatic back then. Back then, i was anchoring for the old Financial News network, and on that day is that ron burgundy no look who that is that is a very young paul tutor jones. Oh, my goodness. This is back when paul used to take my phone calls call me again, paul. Wed love to talk again. Anyway, he was on the floor i love that stache. Talked about what happened, what was going on, what he was thinking. Did you lose the stache after the lets see, that was in 87. I lost the stache around 88 or 89 yeah wasnt long after that. Not too late to bring it back. I think it is by the way, paul tutor jones is lauded for having kind of foreseen that drop was happening. Let me tell you, i mean, we were friends back then he was a very still is very, very smart trader. He came up out of memphis trading cotton futures. Wow and hes very savvy trader. Very, very savvy trader. I mean, no surprise that hes had the kind of success he has had. Anyway, were going
Going to go down from here, no that we go into the nighttime hours and theres still going to be some wind out there. By tomorrow morning, that should be the coldest point of the weekend, where it feels like its around 10 to 15 degrees. So the cold air is in place and we also have some moisture on the way, that all adds up to at least a chance of some snow. And meteorologist Sheena Parveen has more on that. Our next chance of rain and snow comes sunday starting in the form of snow. We have issued a first alert because of that, but only for the lehigh valley, berks county and pa suburbs. On sunday night, well see the approach of our next weather system. It will start on the leading edge with snow because it will be cold enough for. But its not going to stay snow overnight through monday morning. Well see a bit of a mix here. Were going to see accumulating snow for the lehigh valley, berks county and the pa suburbs. Changing to a mix on sunday and changing to rain especially for the penns