Buy in the space how can that be . Well tell you as power lunch begins right now and welcome to power lunch. Im melissa lee. Stocks taking a breather today after yesterdays more than 1 gains, all three of the major indices are lower with the s p and dow on track to snap the threeday rally since last weeks big drop. Fractional losses across the board. Check out the transports theyre sinking further into correction territory American Airlines, the biggest drag there that stock is now down 16 for the month of august. Well have much more on that move later on. Ty we begin at the white house President Trump to meet with the president of romania while the economy is front and center for the president and the administration and eamon javers has the story for us now thats right. Were going to see the president of the United States in the oval office here in just a short time the president will have the opportunity to talk about the end of the 30th anniversary of the end of communism in romania
Both the s p and the dow have dropped below their 50day moving averages which is sort of a key level here that you look for to stay above. The nasdaq is getting slaughtered still, down 221 points. That is a loss of 2. 8 . For much of the day its a lot worse. The nasdaq was bleeding more than 284 points, or 3 for most of the day, barely coming back right now. The techheavy index is on pace for its worst drop since december 4th. To the vix or volatility fear index, sharpeyed traders noticed that three days ago, the vix began sort of portending this stock blizzard were seefg right now when the front month vix futures started trading above the second month which is further out. Just to explain that, normally theres more uncertainty and fear the further out you go on the calendar because its harder to see, but this inversion, may 7th which began to indicate more fear in the shorter term, often indicates a market meltdown is coming. Three days later, sure enough, here we are and the herd pre
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Endo, Inc. ("Endo" or the "Company"), a newly formed entity that recently acquired (the "Acquisition") substantially all of the assets of Endo International plc ("EIP") as contemplated by EIP's plan of reorganization (the "Plan"), today made select.