Month of losses. Joe we have seen a big comeback from our dips a couple of weeks ago. A 5 loss. Sed we ended up being down a little bit. Today, obviously not as good as the last couple of weeks. Scarlet unless you are valeant. I one point the stock down over 20 , the most since 2011. Bloomberg has learned valeant is under investigation, but this is different from its investigation from pharmaceuticals. The stock continuing to get hit. Joe the hits keep coming with this. Alix in terms of stocks for the month, this is all about the rebound of commodity names. The losers became winners. Glencore, freeport, newport. Csuite 5 on the month. Freeport and alcoa have short high interests. Clearly you cant rule that out. Nonetheless, ferocious. Joe today in bonds, one of the big stories was the decline in yields. We saw the german fiveyear yield plummeting deep into negative territory. We got a mediocre and cool inflation report. You just see yields plunge with one of the key stories of the mont
Is kicking in. The sentiment among the countrys largest manufacturers drops to the lowest level since 2013. And tesla introduces its more affordable model making for the mass market. A beautiful piece of engineering. What is driving and what is engineering this market open this friday morning on jobs day in the United States. There is a hangover. There is a lot of data. It is the yang and the yang. The chinas data and japan as well. Surveyhe japan consumer is disappointing and that is driving the story right now. That the chinese data came in much better than expected but it is the japanese data that is at question. Do you feel rich enough to drop down 35,000 and put down a down payment on the new tesla. It depends on how ecoefficient you want to be. It looks very efficient. We have 30 minutes to go before the start of the trading day. We are going to cover all of the stories for you. Let us check the futures. It is down. 9 . The paris market is down by 1. 16 . You have these various f
Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Performance in years and 2015. A completely different story in 2016. We will talk with the funds manager about going from worst to best. Head straight to the markets. Deal threatened here. Deal that is very long in the making. Preparing to block the merger on antichrist antitrust grounds. So you see, shares are rising 3 for baker whose baker hughes. Yesterday, halliburton shares watching those as well to see how they are reacting. They are trading higher. All the way back to november of 2014. I will take a look. They say they will contest the lawsuit. The companys believe the doj reached the long the wrong conclusion and that its action productive they are both down relatively sharply going back to that date. This is adjusted. They are falling also with Global Energy prices. That has weighed on the stocks as well. Ofre not seeing a lot change. The nasdaq is faring the best of the three majors. To get a little more graduate ready on the mixed picture here, equal and in green on the scre
After netflix result yesterday, tech was a leader on a downside. Materials and energy continue to rally. Abovell 10 S P Industries their 200 Day Moving Average. Even with this day, still seeing some upward momentum. Alix a lot have broken the 200 day but have not been able to hold it. What will be the catalyst to break us out on this range . It was really the commodity names that probably the most. Copper and gold up at the most since november, also a transocean. Stock in con of a risk on day across the board. And itd at the vicks still cannot seem to gain any traction. The vicks really low. We keep having this rally where we are climbing higher but there doesnt seem to be a lot of concern. Joe and im going to sound like a broken record but guess what, there are new lows in japanese borrowing cost again. There is the japanese 30 year yield on the screen every day, brandnew lows. What else is there to say . Thelet lets talk about dollar continuing to weaken, revisiting sixmonth lows aft