Low volume was a hallmark of trading. We are seeing that again. Julie you get low volume in the summer months. It is about 14 low the average. You can see there is not a lot of movement in terms of one direction or another. The dow is pretty deeply in the red. The s p is not falling nearly as much. We have this recalibration of what the fed may do. They may raise in june or july. The personal spending data is coming out ahead of estimates. Leadingstops have been gains. Consumer staples are lagging today. That is a counterbalance that we are seeing. Lets check in on the first word news. Taylor riggs has more. Taylor president obama is being pressed to speed up efforts to help syrian refugees. The administration had promised to resettle 10,000 refugees. Eight months after the program started, only 2500 have an admitted. Jerry brown is endorsing Hillary Clinton for president. Brown says he believes clinton has the best shot at stopping donald trump. Says while he is impressed with how wel
Oil. Julie yes. An hour or so of trading. Lower. Ces are they were higher by 1 . Approaching and broaching the 50 level. It got close in the past hour or so and then fell want again. In addition to the technical level, commentary from around the world were supply has been constrained. In Nigerian Oil Minister saying it is too early, that oil has made a recovery. The latest on the alberta saying they are going to start to bring people back into that. Various headlines, it really does look like 50 per barrel. Look at the major averages. They have fallen over. All three have fallen in the red. The nasdaq has been a holdout and now no longer. The s p is deeply in the red. The dow has in lagging. Take a look on the bloomberg here. The sectors on the move, energy, the worstperforming group. Really coming from oil prices, Consumer Staples also today. This is coming in the face of what looks like positive Economic Data earlier this morning. Bigtime gainers, how does that work . It is a little
Territory. The dow almost neutral there. 3 protest nasdaq down. 3 . If you look at the intraday chart for the s p 500, you can see the big screens there. Below is that 2107. About 15 points away from the record high back in may of last year. Down to 2 . All is you can see the individual. Ectors are declining thanks profits could be heard and treasury yields are sinking. Materials are something. 6 . Copper futures are sinking to a fourmonth low. Hit, wheret getting stay in a month. Down from the 10month high. Trading above 50, though. Financials seeing getting hit because of that. Want to look at the individual stocks. Wells fargo, bank of america my jpmorgan, down. 6 . Wells fargo leading the declines. Expectations of profits can get head. Does that mean we are seeing the fear trade coming back . Shery gold is surging. 8 . We are seeing a trade at 1272 but we are hearing from a survey, 39 of respondents 1400g that gold may exceed by the end of this year. Volatility is searching for the
Antitrust violations without getting into specific, and Washington Post ran an article saying trump posed as a publicist to generate stories, a claim trump denies. Bezos would offer trump a ride to space. Would he field any questions at the meeting about trump . Well wait for that. The brawl has not worried investors yet. Look at amazon stock, outperforming the market this year, and still up more than 60 over the past 12 months. Adding to the drama today, though, ultra violet, a Group Fighting sexism, lhas a petitio to ask amazon to stop selling trumps line of mens waear. Why is amazon continuing to support the trump empire, and now, ultraviolet says 1500 shareholders signed the petition and commissioned a plane that will be circlingover head today at the meeting with a banner saying, dumptrump. For its part, amazon declining to comment on that. Ill head into the meeting right now, listen to bezos and bring you headlines as they come. Josh, back to you. Maybe political fireworks to wat
Seaberg, great to have you with us. Eric, riddle me this. What has changed and why today do we feel so great of a fed rate hike . I have no idea. I think, you know, were going to be in a cheap market here for the foreseeable future just because of all the uncertainty surrounding Interest Rates, Consumer Spending and Political Uncertainty here and in europe and while this frustrating sideways market may be difficult to navigate were still finding opportunities in the hodges small cap fund. Where . Were really looking at some areas such as some of the nonenergy companies that have been beat down over the last six months by oil prices, Something Like a Legacy Texas Bank share which is a bank that we think is very attractively valued here. The perception of Energy Exposure is not as great or the reality isnt as great as the perception in this stock and we think its created an opportunity for investors. Other areas that we like are areas tied to infrastructure spending, like Eagle Materials