Tuesday is in the orange, or red, whatever color it is on your screen there. That is the last hour of trading on both of those days, and it traveled about 3500 points monday in just the last hour of trading, down 1600 points for a time, and then a 500 point or 900 point swing yesterday. As you mentioned, we had a big swing in the last few minutes here well see. Anything happens in the final hour of trade. More from bob on todays move, bob . Reporter other things moving things other than the volatility index today. We were tooling along at a narrow range likely to the upside, and 1 00 hit this is the screen we have up here at 1 00 you can see we started moving down there on the heavier volume two things happened at this time we got a budget deal that implied greatly increased deficit, and we had a soft twoyear auction whats the effect . The effect is bond yields moved up this has been a problem in the past, but, particularly, the levels were at now, so bond yields moved, put up the teny
The dow is the story today bet than 1 gain the russell, small caps trailing a little bit bob pisani on the floor with more were reversing that trend. We used to sell off in the middle of the day, but friday we diplomat and today we are holding onto our highs its very important. Three trends ive seen thats happened in the last two days. Number one, the healing continues. S p regained 20 of the losses were finally seeing new highs appear and familiar names are on that list. Finally, the Leadership Group since the bottom is the Leadership Group getting us into this, and that is cyclical stocks look whats leading today. Boeing, 3m, apple, cisco, these are all cyclical names lacker eds, coke, mcdonalds, johnson johnson, General Electric not doing too much overall s p new highs, old faces weve seen time and time again on the list amazon, netflix, adobe, hewlettpackard, jpmorgan chase. We continue to see the rally move forward not going back to that idea of selling off late in the day. Well s
Meddling well discuss the potential impact for facebook and for the other big tech names. Speaking of big tech names intel Ceo Brian Krzanich will be here for an exculusive interview about the companys new Autonomous Vehicle partnership with alphabets waymo unit that will be coming up a while from now. That will be very interesting. Plus, find out whether a nearly 8 billion Missile Defense deal could signal more deal making on the horizon for the Defense Industry which is enjoying alltime highs in this market today. Lets start, though, with facebook feeling more pressure from washington over those russian ad buys ahead of the election Julia Boorstin has the very latest julia . Reporter hey, kelly. Facebooks under fire for recent revelations that russians bought ads on the social network to influence the president ial election House Intelligence Committee Ranking Member adam schiff is calling on the company to testify before congress saying im distressed it has taken us this long to be
Chipotle, express scripts, Texas Instruments, just a few of the names set to report earnings in just about an hour we will have our hands full at that time but lets get straight to our big story. The strength in the market today from the Big Industrial companies cat and 3m getting that boost on earnings driving the dow higher ge and ibm trading lower, bob pisani give us some more. Well, heres whats going on. Theres a very unusual divergence between the dow and the s p. Its happened a lot this year, actually 70 points or so. And the reason that is is the dow is price weighted and when you get certain big name stocks, big price stocks moving, that moves the dow. This is the really eye opener of the day. 3m now, they had good numbers and they raised their guidance for the year about 1 , which is good generally you get a little pop on that. But folks, not 7 . Look at that thats 15 you know what that means for the dow . Thats 105 points for the Dow Jones Industrial average 105 points due to
That is what ive been hearing. Lets look at the risk off tone in europe that is being hit the hardest. We are now at eight straight down days and have not seen that kind of streak since 2014, the dax hit particularly hard. A bit of a safe haven bid as far as bund yields. That does not feel like a risk off move in bunds. The dollaryen down 6 10 of 1 . The bloomberg Commodity Index down 3 10 of 1 . Not just oil and copper, the base metals across the board hurt. David now we turn to emma chandra. Emma Senate Republican leaders may have made tax reform a little more complicated. They decided to add repeal of the obamacare individual mandate to their tax package to help them meet the fiscal target but will change the vote calculations in the senate and house. Twice the senate tried and failed this year. The russians have agreed to restructure more than in venezuelan debt. The Credit Rating firm declared venezuela and its state oil company to be in default after missing payments. In zimbabwe