More volatility today. The s p did fall nearly 4 last week. Stocks are heading for the worst since december. I want you to look at the imf function area this is a look at the performance at the s p 10 sectors. We are seeing an acceleration of declines. Seven of we are seeing the 10 sectors in the negative surprising that energy is down 7 10 of 1 because of what is happening in the oil price. The biggest story of the day here. What are we seeing in the oil markets . Basically we did see oil fall below five dollars per barrel. Talkingpped positively, about volatility for a hot second, now it is trading down again. Row, butecond day in a off of its lows. The crude is at its lowest level since february 2009. Natural gas. Down 6 right now. We saw its lowest price since 2002. This is because those weather forecasts keep talking about warmer weather because of el nino happening in the pacific ocean. Is up sixr yield basis points. Equities push into positive territory. Sinces the biggest rise
And this morning the iea says it sees the oil glut worsening. The big reason, demand growth now is slowing while opecs out look continues to boom the ieac Global Market is supplied until at least the end of next year. Wti with 36 and change down another 1 . Even brent at 39 and natural gas, look at that, below the 2 mark. We were you messed it up yesterday. Halftime report we were up like 150 or something . Almost 200. Almost 200. We ended up, up 80. What did you do . Which guy was it do you think . Were you on the show. They were both there. Could have been either one. Or could have been each. But, you know what i think honestly what did happen, oil got weaker and weaker and in the old days if oil went down, it was party. Sit that people think its not as slower or. What is it . The iea saying its demand and not supply. Last two weeks we decided it was all supply. Every guy we had on said it was supply. Maybe its just that the shorts out there in the market are just leaning on it becau
Closely. Crude is back below 37. There hasnt been a rate hike since 06. That decision will come out at 2 00 p. M. Eastern time. Chair yellen scheduled to hold a News Conference a half hour later. Cnbc will bring you complete coverage of the big fed event. Reminders of where we were on pop culture on june 29, 2006. Its been a long journey. Its been a long journey this year as we agonized about whether or not they would raise rates. During the course of that year, the stock market is basically more or less where we started. The tenyear treasury is basically, after this back and forth during the course of the year, basically back where we started. The big mover is the dollar index. The euro down 9 . Thats partly you what see in the corporate earnings. You do have oil down sharply. You have the junk bond market reeling despite the fact that Interest Rates have been so low, we have seen record high yield issuance this year again, emerging markets are weak again. Weve been asking the questio
Began ti gigantic sales of merchandise. It all gets thrown out at once. Thats what happened today with the dow plunging 328 points. I know the market took a hit today, but even after todays sale, you need to know that were down only able 3 from the highs and there could be further to fall because the market has run a great deal. And we only fell back to where we were mid august. Im concerned that many of the big industrials, when they report their earnings, will disappoint wall street. Some of these stocks have been going down for ages. Others are just beginning to roll over. As i see it you have two choices here. You can be like warren buffet, take the paint and all will be well because its a great country. Given the declines we experienced, you may want to stay the course on everything. Or you can acknowledge that were going to roll back a little more, a decent chunk of the gains for the year. And you could take some evasive action. Given the economies are gets worse off, not better,
We are live from bloombergs European Headquarters in london. Im guy johnson. Francine lacqua is not here today. Lets start with some big market news. At the end of the first trading our this monday morning, that act in germany the dax in germany has hit an alltime high. We are through 12,000. We are up nearly 1 . European equities are largely money continuing to move into the european space. The gap between u. S. Equities in valuation terms and u. S. Equities, european equities, absolutely massive. How long before we see that starting to compress . Oil is the flip side of all this. 2009 lows is where we are. We are down by nearly a percent this morning. Nymex over in the states trading at 44. 46, down 0. 8 . Big event of the week we all know what it is. The fed, is that language going to be changed . How significantly will it be changed . Anyway lets figure all that out. Lets get some context from hans nichols. Hans, i guess it was an inevitability. With the euro doing what it is doing