At the New York Stock Exchange you can say stocks are sinking you can say they are stinking, folks. Trade tensions in washington, eamon javers has the latest from the white house on trade and Steve Liesman is here to explain what is a yield curve inversion and why it has so many people so worried. Lets begin with mr. Pisani at the nyse it is weak Global Economic data remember, yield curve inversion is in effect, not a cause. The Global Economic data that is issue were seeing those sectors that would respond to that are the weakest, including retailers, energy, semiconductors, and industrials. Everything is down rather uniformly, anywhere between 2. 5 to 4 . A lot of emphasis on sectors that are already deep into correction territory, were talking more than 20 down from their recent highs and almost all of these are due to trade tensions, Global Growth and tariffs being the two big aspects of that. Pharmaceuticals is the one exception off the highs, a lot of separate issues dealing with
And a tense weekend of protests in hong kong. There are new warnings about the economy. Lets get you started with a quick check of the markets. We ended the friday session in the u. S. We some pressure with u. S. Stocks sinking as the u. S. China trade tensions increased. There was such a wild roller as though you on ended the week down half a percent. It is worth noting it was down almost more than 1 at one point, after President Trump says the talks with china could get canceled for next week. Still, it pared back the earlier declines after we heard from a white house official that suggestions that the u. S. Might not do business with huawei anymore, they walked back the comments. Semiconductors were some of the biggest losers in fridays session. The nasdaq down 1 . U. S. Futures at the moment gaining 0. 1 . All eyes now on asia on this monday as we have markets out of action on holiday. Thats right. If you take a look at stocks in asia, they are set to kick off on a cautious note wi
Some the emerging markets exposure comes through asia and latin america. That brings me to the next page, 17. On the coinvestment front, spurs has been active. Though measured in gradual and in the implementation. Spurs made the first coinvestment in the private equity portfolio in 2014 and since has made an additional 11 coinvestments. Eight of those were through the commitment to Asia Alternatives and its fund heavtofund manat and four were outside. In each case, they were with a manager spurs has invested with and has an existing relationship through the portfolio. So they highlight that staff did a good job of existing manager knowledge to enhance execution capabilities in the coinvestment portfolio. Together, these coinvestments represent close to 200 million in commitments with an average byte size of 15 million which we feel is appropriately sized relative to the byte size at the fun level. And lastly, ill highlight spurs has been disciplined. Its 20 of the private equity and th
Downside. A big piece of the story you are seeing on your screen is the oil market. Were watching was happening in oil, it is pulling back as russia and saudi arabia extend their supply cuts until the end of the year. Yields on the twoyear and the ten year also climbing for the second day and a row. What you need to know, that is coming up. Taking a look at european markets right now, as you can see we have a few things going on in the european markets. They are on the reds, cac 40 is down, the taxes lower, not to each overnight. A mixed bag chinese real estate giant evergrande stock jumping 70 after developer Country Gardens managed to avoid default over there. As you can see a mixed story but the shanghai are actually in the green. Here at home democrats are voicing concerns about President Bidens electability as he faces criticism on the economy and worries about his age. New accusations of playing politics between ron desantis and Vivek Ramaswamy as voters watch the race for the go
And gives us his two cents on the dollar. The latest move on the greenback. We are also talking rates and macro. We begin with todays market. We will run through the numbers. A better look than lately, dom. A better look. Solidly higher and tilting towards the highs of the session right now, but the caveat is that we havent gotten back what we lost just in yesterdays trade. To that point, kelly, the are up about one quarter of 1 . 60 points the upside. 63,000 zero 72. The s p 500 still above the 42 mark. 40 to 50 with the last trade there of 21 points half of 1 at the highs of the session we were up 28 points on the s p. We are down nine points at below. Again, tilting toward the higher end of things. And the nasdaq composite doubling up the advance of the s p 500. 1 , 130 points, with a composite index of 13,189 the last trade there. Of course, rates still a huge focus of the market. At one point today earlier this morning, we did touch a news cycle high going all the way back now to