Dow briefly fell more than a thousand points over three sessions now just around that line. It will be the worst week for the year for the dow as long as it is below 26012 i think. Selloff in tech stocks leading to market decline this week. Who better to turn to than bob peck who joins us this morning great to have you back. Thanks for having me again. Appreciate it. It has been a crazy few weeks in the ipo market. What do you think people are misunderstanding or getting right . Couple things first of all, benchmark, the s p up 15 give or take. You look at all tech ipos this year, they are up a little less, around 13 give or take. If you do x, youre up 20 actually you are okay, whats interesting if you look at first tick to now, tech ipos are down slightly the question is whats driving that what youre hearing or seeing is investors are looking at a couple different things. One, whats the revenue visibility of the companies, is there a backlog of a recurring nature so one of the things
Your top holder of u. S. Treasuries. Julyse holdings fell in 2. 2 billion. Certain that it is something that will come up in the fomc meeting tomorrow. What they think the u. S. China trade war means in terms of policy as well. Caroline lets dive deeper on the action. Abigail lets continue the conversation on energy that you all were just having and brent oil into the picture. Higher on theke attack on the saudi oil facility. What goes up must come down. Today, down about 7 . Huge whip saws. Come onthat supply has faster than expected. When we put this into the context of a longerterm chart, much ado about nothing. The with the exception of huge move down in 2016 and the big one up in 2018, between 40 and 60. Now right back down into that range suggesting that if there is a huge disruption for oil, we may have it continue on in this range. Sarah i wanted to take a broad look at the market where we stand. One way to do that is an etf that tracks these ipos, the ticker ipo. Performance h
Flat that really does obscure a lot of drama up at least 2 s that has been pretty dramatic. Also why the nasdaq has been down so a lot of those profits are coming out of there. The hang seng up by 1 3 4 mentioning those tariffs that china will be taking off those goods. We have more on that front in a moment also an American Chamber of commercesaut u. S. Chamber services have been getting hurt and many of them are moving away more quickly than anticipated redirecting businesses there in the meantime, lets look at what has been happening. For the most part, green arrows. The ftse is up the dax up about. 75 . And cac is up. The trezy market and yields, they have firmed up. The 30year trading almost 2. 2 . 10year at 1. 714 . Twoyear note at 1. 67 breaking deal news, Hong Kong Exchange proposing a 36. 6 billion cash and stock offer for the London Stock Exchange saying it approached the lse with a bid last year, they agreed to buy refinative in a deal peloton says it plans to price shares b
Point. Hang seng was up more and in europe theres active trading taking place with the early hours and youll also see that there are, well, its a bit of a mixed picture. Stocks are slightly weaker across the rest of the continent there. In the treasury yields here in the United States, thats what we continue to watch closely theres questions about what the fed does next and right now the ten year picked up a little bit of steam its 2. 073 . The ten year at 1. 584 so about 1. 5 and then the two year, look at that 1. 558 so no inversion at this point and you are seeing a little bit of gains in the yields. Thats a pretty big move. A quick move back. Right were not following it that closely. And the 30 year is well above 2 i think just psychologically its always like this but we give it to up days not just us but the collective we theres a point we were down 250 but we only ended up down 250. Right. But we did 372 yesterday but its very its the biggest two days of gains you have seen for s
Exchange, we bring a market moving news from around the world. Kong ifus from hong enda curran, we have Annmarie Hordern and emma chandra, and Michael Mckee joining us in new york. I want to show the slowdown. Bloombergs enda curran has more. Enda . Enda i think it was quite weak across the board, alex. The worst single month meeting retail002, which saw the sales side of things confirming that even though a lot of it was due to the slowdown in the car market, the auto market, there is a feeling that consumers are starting to track as well. The activeixed, investors side of it, we saw that lacking, pretty soft reading, setting up the economy for a pretty slow in to the year. Putting pressure on the government to respond. Alix thanks so much, enda curran come in hong kong. Saudi Oil Facilities were attacked. Annmarie hordern have the latest. Tomarie that is right here 5 of global supply, 5. 7 Million Barrels a day, but half of the kingdoms net exports. The biggest infrastructure that d