Get into my car and, brian, i need a few more days until we get ready for this days power lunch. We dont have the luxury. Welcome, everybody. Power lunch sails on at 1 00 p. M. Eastern every day. Im tyler mathisen. Stocks lower now, but holding steady, off about 42 points on the dow. Four, almost five for the nasdaq. And 3. 75 for the s p 500. Energy, the worst performing sector. Telecom and utilities at the top of the charts right now. Earnings the big focus this week. It is a big week of them for investors, ton of big names set to report. And two at sort of either end of the technology spectrum. Netflix, video, obvious, new media, and ibm, old tech. Theyre out after the bell today. Check out those stocks ahead of the numbers. Netflix down about 1. 5 . Ibm, basically flat. Seema . Hello, tyler. Im seema mody. Here is what else is happening at this hour. Americans hitting the road, the Transportation Department says motorists logged 285 million miles on u. S. Roads in august. Thats the
Still feel, scott, that we should not mistake people taking off protection trades and unwinding hedges for this massive new shift in sentiment. The most important takeaway that i want everyone to is have is that the markets are not any more excited about President Trump than they would have been about president clinton. What the markets hate more than anything is uncertainty, and then when they get certainty, no matter what that certainty is, typically the reaction is to buy. The reason why is because people sit on their hands, they worry, they think about worst case scenarios. The fact that we got a president , we had an election with a clear cut outcome is the reason why you saw this exhalation and everyone went back and bought the things theyve been waiting to buy. It has nothing to do with one persons policies, another persons power, et cetera. However, even if you thought, steve, that you would get stimulus of some sort from either candidate, maybe theres an easier path to growth
You see behind us, it is cooled off a bit. The dow is down about 15 points. But keep in mind, folks, we have seen huge moves in stocks, bonds and the dollar. Just since the election. And watch out for oil. Crude oil hitting a new threemonth low. Well have more on what is driving oil prices down straight ahead. Tyler . Thank you very much, brian. Tyler mathisen here. Here is what else is happening at this hour. Strong after shocks continue to rock new zealand following sundays 7. 8 magnitude earthquake. U. P. S. , air maintenance workers, voting to strike as contract negotiations stall. And the Transportation Department is setting new rules requiring electric and hybrid cars to emit sounds by 2018. So they cant sneak up on you anymore. We got a busy two hours ahead and we kick it off with the market, the dow, as brian mentioned, briefly hitting a record high at the open. It has since pulled back a bit. Despite the pullback, there are some notable standouts, often are, almost always are.
And what do you think of the sign of derisking . You are have seen a lot of the trade assets out there, and you have n the treasuries rallying and gold rallying and the utilities ralin inlying, an is an indication of the investors being in a defensive position. Are you better served to get to the cusp of the new highs and then you find a lot of people are playing defense again, and josh, what is going on . Well, i guess that i reject the premise that this is some of kind of a failure, because price has memory, and we have approached the old highs and we have been here four. Four times since may of 2015, and the s p 500 bumped and failed four times. That is right. So when we approach the highs again, you should expect that people who felt like they got left holding the bag buying at the levels to maybe take some off which is a little bit of the resistance and you have sellers here, and we know it already empirically, and nobody should be surprised that we are not ripping through it like
Just getting worse by the day. And line. Biggest tech ipo of the year scheduled to trade right here at the New York Stock Exchange tomorrow. We will tell you what to expect. It is going to be the biggest of the year. A frenzy down here. And ghostbusters reboot is out this weekend. The films director who will ring the closing bell today at the Stock Exchange will join us onset. A tremendous amount of buzz on that one particular movie. Its unbelievable. And striking back at times against some of the haters on that one. But we will talk with him in a while about that. Dominik choo, talking about sectors, dom . A lot of people didnt like the stocks. We have another record high on the s p 500 and we are trying to get back and stay in that positiveter tore ary. At these historic levels, it is worth pointing out it hasnt been fun and games for every part of the stock market here. If you look at sectors and stocks left behind, the most recent leg of this massive post financial crisis bull run