Good morning, everybody. Welcome to squawk box here on cnbc but this comes after a backdrop of a pretty big decline on friday on friday the dow was down by 700 points and this morning its up by 200 points you have the s p up by close to 20 points and the nasdaq up by 26 but we are getting to the end of the month and thats when we start to take notice of what has been happening with declines that we saw on friday push the dow and s p 500 into negative territory for the month of june. If they want to make that up they have two trading sessions left before we get to july so over the next two days the dow would have to make up 1. 5 if it wants to be positive for the month of june. S p would be up 1. 2 its up by 2. 8 . Lets take a look at what has been happening with the treasury market the treasury yield the ten year is the one that we always pay the most attention to it seems to be yielding. 645 . And i think he is going to have interesting things to say too in terms of trying to put it i
Everything is in the green, but very, very small movements in low volumes as well. 45 when you down look at the 30 day average. Story is in commodities. Come over here, and you can see the commodities index is up. That is a lot by metals. Is that the highest in five years, copper in four years on its 16th consecutive gaining day. Freeportmcmoran gaining about 3 today. Take a look in this chart. This is the bloomberg commodities index. It is seeing its longest stretch of gains in 12 years, and the index has been up for the past 11 days. Finally, i wanted to take a look at some movers. Lets switch up the board again. What you can see, these are some of the s ps worst performers on the year. General electric, under armour, all down on the year. We know that with ge, they are in the middle of a turnaround. The long time ceo has left in the middle of the year, along with another of budget top company executives. A new ceo reported a turnaround plan that was introduced last month, but not re
Today. Down more than 10 as shocking Sexual Assault allegations about casino mogul steve wynn emerge lets get to Contessa Brewer in the newsroom with the details in the developing story. Reporter these allegations date back more than a decade and the wall street journal outlines a pattern of Sexual Misconduct by Ceo Steve Wynn the report details multiple instances of alleged misconduct including an assault against a manicurist who was awarded a 7. 5 million settle men and many other forced sexual encoupers with employees wynn says the idea i assaulted any woman is preposterous. And then he blames his exwife for instigating the allegations. Her lawyers tell the wall street journal she was not involved there a representative from the company says blamed her. Again, the attorney said she is not involved in those allegations. Wynn owns a 12 stake in the company, is regarded as crucial to its success before the company went public it wrote in its s1 filing our ability to maintain a Competit
The end of the day. The nasdaq earlier this week daysile, closing down two for the first time in 2018. Overall a bullish tone here. Up four basiseld, points. The havens bonds are selling off , completing a risk on picture. A team of strategist said bank of Americamerrill Lynch say the bonds selloff might be a little bit stretched. We are looking at the 10 year yield in relation to the 200 Day Moving Average, and it has gotten well above the 200 Day Moving Average by about 30 basis points. It tends to move back down to the mean then. So in other words, the 10 year yield might fall back down 2. 3 . In that case, bonds would be rallying and it would be a risk off tone. But today, risk on. Lets look at two of the major winners, intel and abby. Afterat its highest level beating estimates. They gained an optimistic outlook for the Current Quarter for the full year, and some relief for investors that the chip design flaw is not waiting into the forecast. , up 12. 9 k at abbvie after beating a
After the big gains for u. S. Stocks yesterday. A big swing to a rebound yesterday. Youre seeing bouncing around occur today, and that has been characteristic of the past week or so. Swings between gains and losses that finally ended up with a big gain by days end. Nasdaq lacking today even as the s p and the doubt gain for dow gain. The major averages from a percentage changes as of days. Obviously, we saw a big moves the past several sessions that are clearly more muted, at least thus far, in todays session. We have to offer that caveat because we have typically been seeing big action as the day goes on in recent sessions. As for the earnings winners that you heard vonnie talk about, snap is seeing an outsized thing with the 33 boost after the Company Reported earnings that Beat Estimates for the First Time Since its ipo. We will dig more into that in a little bit. We will also dig more into those disney earnings. Disney shares have been bouncing around a bit. On the one hand it is s