Welcome, as tyler set, stocks bouncing back from the work week in two years, the dow up, the action in the bond market yields on the benchmark tenyear coming back to fouryear highs, justened 3 . Perhaps thats spooking investors in consumerrelated stocks, some retailers are sees losses, it is, though, a full steam ahead. That stock is higher after raising the different. No whopper here. Burger kings parent bead the street courtney, welcome. The do you soaring, the s p 500 back above its average. Bob, what is going on here today . Actually its time for the point moves, look at the sectors here, the old growth sectors we used to talk about, reits are down, thats not surprising, but lets look at the markets. Breadth is good. 5 to 20 advancing to declining stocks, the volume, believe it or not, just average weve had enormous volume in the week and a half, volatility has been dropping today, a bits unusual. With the peak gains today, the three major averages have recovered nearly half of the
Stocks have added to gains since all of that news started to come out. People asking whether fridays low was the bottom joe, what do you think is it going to hold . I cannot give you the answer to that thars a good thing secondarily, the fact this is just an equity correction and not a portfolio correction doesnt present the risk to global synchronized growth thats very important. Is the worst over yes yes. That doesnt mean that we dont test it. What we see when we see a big spike is significant spike like this one we shorten the time frame because of the speed i dont think we go back there ill be surprised if we can push back into the low 30s because were not just with moves like today. Youre 1. 4 . Youre not in the 30 volatility range. In other words, i think a lot of folks that needed to get protection grabbed it last week. Some at really bad prices. Some hopefully kept their hands in their pockets and didnt make the bad decision youre a buyer of stocks and a number of different one