Results in an interview. Now that don peebles is turning bullish on new york real estate, where hes seeing opportunities and why office space is at the top of the list. But first, lets get todays market action. Its a little more pronounced, but just marginally to the downside, considering we are just 1 to the highs so far this year. But to kellys point, if you look at whats happening, its been a mixed picture and a lot of different cross currents. That earnings story that is shaping up, at least in todays session. The dow up 21 points, 35,581 the s p sits at 4577, down about one quarter of 1 . The trading range has been negative all day at the highs, down four points and down 21 points at the lows maybe in the middle of that range. The nasdaq composite, down 1 3 of 1 , 48 points to the downside 14,297 for the composite trade one them thats developed is travel and leisure, somewhat we have had downside and upside moves. Jetblue, down 8 more costs for Norwegian Airlines uber was positive
Tom, great to have you as always thanks for the time today. Great to see you, carl. I know youve been leery of the month of august in general did this mornings early tone do anything to change that . Yes and no. I think there are some constructive things that happened today that make myself and mark, head of technical strategy, think were actually in a bottoming, possibly for the month of august. The dollar reverse,ed sharply, and yields turned down, and as you know, both would be pretty big headwinds for stocks as we got into august, its been a rough four days so far, but i think the jobs number was pretty decent and then i am kind of optimistic that were going to get a good cpi report next week. So, thats kind of a road map to seeing stocks do better next week yeah. We have had a lot of chatter today about what cpi is going to bring us i think you could maybe argue the tone is relatively optimistic given what we think used cars and rent is going to do in the coming weeks yes, thats r
The 10year treasury is yielyieldin 4. 19 . I believe these are sitting at high levels for yields for the year i had a computer problem before we started. Of course. Thats why i was asking you i was deferring. Lets look. It is clear it is high yields for the year if you look at that year to date that yield up 8 all of this is happening as we got stronger than anticipated adp numbers this week and the downgrade from fitch can i point out, becky, look at when this is higher than the last time which is back in march when we had the problem with the regional banks oh, thats very interesting too many alarm bells. We are back to the pressure on the banks. Now, they had a lot of time to get their act together they had the fed program to take their tired, poor, hungry and underfunded bonds to the fed and get 100 financing off that. It is an area where there was pressure on the bacnks. We have to watch the regional banks. I havent looked in a day or so. They were doing quite well and i dont know
Downgrade. Apple and amazon set to report after the bell tonight. Speaking of earnings, were going to talk to shopifys president this hour on the companys latest quarter after topping some estimates but lets begin with tech as we look ahead to apple and amazon tonight the nasdaq, as we said, worst daily performance since february, jim. Are we going to use qualcomm as a read for tonight no, qualcomm is just pa theting i. I was disgusted with that quarter. Im so tired of their hype im sorry. I have a negative attitude about them im positive about other things. I mean, at the start, once again, they do this thing, its great, its great, its great. And then you get to actually, but you know what, its bad, and its weak. Its great, its great, well, its bad, its weak, and this is post auto and handset inventory buildup and, no, im making the samsung story, the solutions to apple. But no it is not a tell now, you could say, well, look, maybe apple is coming in too hot. I think theres a theres t
Yesterday, but again we were talking about Massive Gains not just through the month of july but year to date as well well continue to keep an eye on this if youre watching treasury yields, this is where you would anticipate seeing moves if there were a downgrade if people were afraid of rushing into this. But it turns out u. S. Treasuries are still a safe haven and why the yields are still a bit lower. The 2year note trading at 4. 86 . Of course, all that related to what were seeing. Talk about the downgrade because it is our top story. Theyre citing what theyre calling an erosion of governance Emily Wilkins joining us now good morning to you. Good morning, andrew. Yes, shocking news yesterday at least for some of those in the Biden Administration seeing that downgrade in the u. S. Credit ratings from a aaa to a aplus this is only the second time the u. S. Credit rating has been downgraded like this treasury secretary janet yellen is quickly depending the Biden Administration she says