We start off with a major reversal on wall street. S p 500 gave up gains around 2 00 p. M. To finish close to session lows same for tech stocks you saw the same thing play out in facebook and netflix, both stocks starting strong, finishing around session lows. You can extend this to regional banks, health care, energy, small caps what does the action today tell you, guy adami its not encouraging. Im not going to make a deal out of today yesterday we had the show of hands. I dont think any of us were convinced by the rally ill continue to say a 30 vix suggests were going to see days of 1. 52 moves. I happen to think on aggregate its going to be lower im not trying to be all good morning and gloom, but the environment we find ourselves in in terms of a lot of Different Things as we head into the fall, on top of which an election is probably a coin flip, i dont think its particularly bullish for the Broader Market and especially on the back of a rally thats been historic karen i did raise
Blake burman, president will meet shortly with the Prime Minister of pakistan amid talk out of pakistan. They took to twitter pushing back on iranian claims that they have detained 17, spies that were recruited by cia. This announcement came via Iranian State television, that some of those 17 had already received death sentences. President went to twitter to say not so. He called the iranian claims quote, totally false. He also said there was quote, zero truth to it. Now the secretary of state mike pompeo as you know was once cia director before he moved over to foggy bottom. He was interviewed on fox friends earlier this morning. He pushed back as well against those iranian claims. Watch. Cant add much to it specifically, having had a chance to lead that Great Organization the Central Intelligence agency. I would urge everyone reading that story waking up that the Iranian Regime has a long history of lying. That is part of the nature of the ayatollah to lie to the world. I would take
There are some other Amazing Things happen, so much for the hope of a rally after the averted Government Shutdown witnessing spasms in the bond market as we kick off the final hour of trade stocks are responding in a jerky fashion of the first dating tray Dow Jones Industrial down 200 reports, s p losing 22. The nasdaq has been toggling a below the flat line right now below seven points, treasury yields that have investors head spinning right now not only is a ten year treasury yield resuming the spike to a 16 year high of 4. 68 the two year treasury yield is near 17 year highs, 5. 1 a 6 , look at the long blonde. This is the thirtyyear hitting 4. 778 earlier and earlier 4. 81, that was the highest since 2010. Why are yields skyrocketing, a couple of reasons, fresh data shows u. S. Manufacturing activity in september slowed less than expected. While it remained a contraction for the 11th straight month it hit the highest level in a year. His Employment Index benefit, that jump back to
And more advanced in front of me. Its wednesday december eleven here in korea went from full minute. I have from when things so much for joining us. We begin with the reality check issue to the nations sectors the korean government has laid out measures aimed at cleaning up debt and fixing management at troubled firms from intensive state monitoring the submission that the Health Financial reports. It has held its sector reform is now Serious Business the real government is gearing up to fight and now looking back at organizations states unveiling a set of measures on wednesday designed to bring the debt under control it said forty one has reinvented organizations will have to reduce their debt levels to two hundred percent of their equity by two thousand seventeen from the current average of two hundred twenty percent the government will initially focus on twelve state agencies including the Korea Electric Power Corporation korea land and Housing Corporation any foundation that kills
Probably the most Important Information to come of this is that all people are now accounted for. There was one person unaccounted for. But they have been able to identify that person. So, a lot of kudos going around to the 225 First Responders and people who helped in this situation. The last comment by the chief, unbelievable. You know, he said verbatim, the crews were heroic and in some cases literally cutting people out of their seat belts in the plane. Thats just amazing. One interesting fact as well, of the two confirmed deaths that they did find them outside the aircraft. So i dont know what you make of that, how they got out there, whether again, they were also referring to people maybe trying to go into the water to correct. To put fires out. The Fire Department said upon arrival they did notice some folks in water because the plane was on fire. Perhaps they were trying to get themselves with water or perhaps they were just trying to get away from the fire and water is the saf