Anna good morning, everybody. Looks to you what has been happening in the Asian Session and what we expect for the session in europe and the u. S. Tax. E all about the stock futures and the dollar, the Market Reaction we are seeing broadly focusing on the tax. Not being distracted by trumps tweets and the activity over the weekend over the role of the fbi, Trump Administration, and ongoing investigations. That is not dominating the market news flow. What is dominating is the Senate Passing its tax legislation over the weekend. Futures demonstrating that. All of the major u. S. Indices higher on the trade today. The dollar index following with point 3 . We are seeing yen weakness, which is not helping. The yen weakness not helping. We see the asian equities session, in contrast to u. S. Futures, in limbo. There is a warning of frothy markets. Goldman sachs talking about valuations of prolonged bull market in stocks, bonds, and credit leaving measures of average valuation the highest sin
As we can see the renewed theme of rotation, rotation out of technology and into financials and industrials, for example, evidence in the dow. S p 500 in the middle, up. 5 , so benefiting by the surge we have seen in stocks related to the tax cuts passed over the weekend. Another way to look at the weakness we have seen with technology in this chart, looking at the percentage of members of Different Industries with 14 day relative strength index above 70. In other words, are we seeing them overbought at these levels . Look at the s p 500 in blue, the percentage going up even as techs have been going down. Indicator forum this group relative to the broader market, that it has been weakening versus the broader market. On the subject of rotation, if you look at some of the weakest names today, they are in the top 10 performers in the s p 500 this year. Align technology, maker of the invisible line braces alternative, we have ma icron, and we also have lam, Semiconductor Makers that have d
Looking quite strong, up over 1 this morning same thing with the shanghai composite. Then european equities right now are also in the green. The cac ass off, ftses off i spoke too soon i looked at the ftse beforehand. The ftse is up, the dax is up. Everything else is down just marginally well, here are the big stories were watching for you today. We are continuing to follow a developing story out of Southern California new evacuations have been ordered as a string of massive wildfires continue to grow the thomas fire, the biggest in the area, still on the move. Officials say the blaze is just 10 contained. Its already burned more than 360 square miles of land we will continue to follow this developing story, bring you any updates and developments as we get them. On this weeks economic agenda, tomorrow, look for the november Producer Price index. The fed also kicks off a twoday meeting. On wednesday well get cpi as well as the fed decision this latest Economic Forecast and Janet Yellens
Forecast. Good morning everybody. And welcome to news4 midday. Im erika gonzalez. Now they are meeting to say final good buys, cohen and special agent wolf were killed last week on i 70. We are at both funerals this morning. We begin with chris gordon in rockville. Chris . Reporter applies motorcycle escort brought the family to rockville, maryland. They are walking in to be greeted by governor larry hogan will be speaking at the funeral honoring cohen service and sacrifice. You also see the color guard made up of Maryland State Police as well as fire and Police Personnel from across the state and beyond. Its a funeral with full honors for deputy state fire Marshall Sandra cohen. He died in the lied of duty eye friday night. Stopping to assist fbi special aenl carlos wolf both men struck along the highway and died. Sandra was wellknown across the state as a whole and part of his job as a state fire marshall. He touched the lives of a lot of different people across the state. More local
Hollywood and media. A monster deal reverberating through hollywood and silicon valley, too. The deal david has been reporting has been announced disney is buying the majority of 21st century fox for more than 52 billion in stock david broke the news seems an eternity ago and is with us at post 9, having talked to eiger this morning we did. November 6th we broke the story. People still trying to get their head around it, but here we are with the deal itself a little more than a month later. Some 52. 4 billion worth of disney stock exchanged for these assets, in addition to 14 billion from the company closer to 55 billion overall in equity when you count the 515 million shares exchanged there will be some considerations netted out and so forth is why they get to the 52. 4 billion number the stocks themselves, fox performing fairly well as people try to understand the future of this independent entity that will comprise of fox sports, the fox network, fox broadcast, the affiliates, fox b