But the facts refused to align with negative story. I think today was one of those times. As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, the fed has gone from friend to foe. Right now, now that we have started to raise rates theres no return to the practical policy of data dependence. This thesis says that were on autopilot mode like the prebernanke fed. Well get a shortfall in earnings. Third fear were in the high peaks region of the economic cycle.
That this market cannot bounce to safe its life. Each time it tries, sellers come in and push it back down. Much of that now has to do with oil, which was up nearly 4 today. Only to drop on that inventory data. Take stocks right with it. I think thats the biggest question now, joe. Why cant stocks in a tremendously over sold market catch a bounce . You just answered the question. It is about oil. The last two sessions weve had bullish activity as you approach the close that kind of lifted the market away from that potential overnight whoosh you would get. We keep talking about it from 2014. It doesnt mean the stock market cant have a bounce before doing that . The stock market listen, the market have very oversold. If Oil Stabilizes and if Jeffrey Gundlach is correct that yesterday of as shortterm low in oil, then, yes, we could have a bounce, but i dont think its sustainable. I dont think theres one thats going to reverse a lot of the negative price akt action that we have had not jus
As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, theed has gone from friend to foe. Theres a narrative out there right now, now that we have started to raise rates theres policy of data dependence. This thesis says that were on autopilot mode like the prebernanke fed. Well get a shortfall in earnings. Third fear were in the high peaks region of the economic cycle. Everywhere i go i hear that all sorts of cycles we have the peak in cell phones which caus
With negative story. I think today was one of those times. As we saw a terrific rebound in the averages, after a second bout of hideous selling this morning. The dow closing up two points. The nasdaq declining 2. 4 . First, lets deal with the negativity. Its coming from four different directions. Sell sell sell sell. Sell sell sell sell. Worry number one, chinas falling apart. No matter that its been falling apart for ages or the chinese stock market is not creating wealth, many cant handle the stress of waiting for the other chinese shoe to drop after mondays break down. Suffice it to say theres big trouble in big china. Negative number two, the fed has gone from friend to foe. Theres a narrative out there right now, now that we have no return to the practical policy of data dependence. This thesis says that were on autopilot mode like the prebernanke fed. Well get a shortfall in earnings. Third fear were in the high peaks region of the economic cycle. Everywhere i go i hear that all
Is serious spike. Oil is already on the rise. Im not going to say i trusted, we have been to the stands before. Theres a lot more news we have to cover. Another snow day for federal government workers in washington, d. C. Offices will be closed while the city digs out from the blizzard. Air travel is slowly getting back to normal. Fewer flights were canceled yesterday. Theident obama has banned use of solitary confinement for juveniles and federal prisons. The Washington Post says the president says solitary confinement can lead to devastating imitating compensators devastating consequences. In denmark, the parliament is expected to let police these valuables worth more than 5,000 from refugees seeking asylum. 1500 from refugees seeking asylum. Danish citizens must sell assets before getting welfare. Our 2400 journalists and more than 150 news markets around the world, im vonnie quinn. Its now with matt miller. Aig, breaking news from they are going to ipo a 20 guarantorhe mortgage uni