Sessions we have all the angles of this market selloff covered for you, though but first, joining us for the hour is aerials investments director of research, Charlie Bobrinskoy here at post 9. Thanks for being here. Thanks for having me. Pulloff pulloff, correction, selloff, pullback, was this over due . Well, no, things changed today. The momentum had been wonderful around trade and people say that people spend too much time worrying about trade. I actually dont think thats true free trade is very important and people say in 1776, the most important thing written was the declaration of independence. It wasnt, it was wealth of nations by adam smith the idea that trade helps us all is something that the markets believe in and when that gets called into question, you get an appropriate big reaction do you think that it is, especially based on the comments we got from President Trump today, do you think that the market is, especially with this pullback that we have seen today, do you thi
That is pleasing most investors. Isnt stocks soaring. Sent stocks soaring. We are certain to be speaking yields. The10 year in u. S. Surface we are rotating towards a more defensive bias. The food and beverage sector is the outperforming sector. These are attaching a bid once again. The car sector is down today. Those sectors have done really, really well over the last few sessions, as we have seen the risk on rally really get into gear. The german tenyear, a potential bid with two basis points, as you can see, on the move. We are down, that means bond prices are moving up. What we are seeing today is a move against some of the emergingmarket currencies. The ruble is on offer, the South African currency is on offer. You are seeing that around the world. These look a little flat, but actually i think it is probably a risk off five into the markets. Charles evans says that the u. S. Economy is in a good place. In an interview with tom keene he said that the fed has engineered and accommo
Record stock rally off to the best start, best yearly start in more than a decade. Apple addicts, billionaire share hoerlds urging the iphone maker to take action against the long term consequences of childrens smartphone overuse. Nvidia saes big bet on autonomous driving, teaming up with vw. The best start to a year since 06, closing the week at record highs and s p and nasdaq turning in the best week since december of 2016 and the street now beginning to look ahead to earnings season wells fargo coming out with results later in the week well get Inflation Numbers and retail sales and citi and Media Conference and Morgan Health care conference. You mentioned nvidia and wong going down to consumer conference tomorrow. Whats happening is an interesting opportunity, the futures are down for once. People can get in provided that the stocks themselves dont go up im talking about caterpillar, United Technologies and nvidia, they are ramping, maybe let them come in and get a chance the resea
Today. They are all falling led by greece. Down by over 1 . European stocks falling for the fifth day. Worst run since may. Sterling is down. We will come to that with David Blanchflower. Finalcommodities is your three columns. A quick peek at the european economy. Its on track for its best year in a decade. Headed towards a golden period. Still, the recovery is lagging behind that of the u. K. And the u. S. Growth is nowhere near levels recorded at the start of the millennium. Unemployment in the periphery still exceeds 10 . This is from 2008. Thats the starting block. Real gdp. Lets get to brent crude. Hedge fund bets on rising brent crude prices hitting a record high. Continued tensions in the middle east sending prices to their highest level in two years. Raising their net long positions by two point 4 to a record. 543,069 contracts in the weekend of november the seventh. Long surging by 2 to an alltime high. Short tumbling 2 to the lowest level in more than a month. China. Nt to m
Frankly, earnings season has been good maybe better than in the last couple of years, so to blame it on earnings is looking for a scapegoat. I think most, if not all this move to the downside, has to do with the rhetoric were hearing and pete and dan can speak to this a lot better than i can when you see the vix up 44 and for the first time in a long time, not giving any back during the day, that leads me to believe that people are more concerned about geo Political Risk they are about earnings risk so, you have a vix up 44 and it hasnt happened a lot the fact that the s p was only down 1. 5 was a little curious it also speaks to what you just said the way lot of funds have been b trading volatility. Helping fund other bets hee, so this is a bit of an unwind and investors caught off guard the s p 500 three days ago was making new all time highs. Its down about 2 from those levels obviously, theres things that guy has been watching. Small caps, russell is down about 5. 5 transports roll