Country. More than likely the stock is in your 401 k whether you realize it or not. The Stock Plunged more than 3 today on twice its average volume. Chief investment strategist at money mat press, Keith Fitzgerald is with me. Analysts are worried about iphone saturation and some say iwatch sales are not tracking as hoped. What is your view on the stock . There are two things at work. First you have institutional component. 4 of the dow, roughly 12 of the nasdaq. Anything related to that in institutional portfolio or index basis or some sort of a simulated basis will come under pressure so theyre simply rebalancing a lot of individual investors are saying who whoa, if it goes down this much i want to get out. That is sign of capitulation. I would be looking to buy actually. You would be looking to buy. There have been other times where apple has broken through this 200 day moving average. That key line a lot of technical analysts do watch and obviously come back and rallied. There has e
Agree on a plan as well . Greece. Is there for lets have a look at the euro. We are basically trading flat. Expectations were 225,000 jobs to be added. 200 15,000 jobs being added to the u. S. Economy. You are seeing the dollar trade flat today. I want to show you the Market Reaction on friday when we did see that sudden spike higher when we saw that number come in ahead of 200 thousand. Lets have a look at the commodity trade. The china effect. We are seeing copper pretty much flat. Not much of a selloff. We saw moves in the aussie dollar and the kiwi. When it comes to the recourses, pretty flat. Copper, resilient, moving that little bit higher. Lets look at what is happening in turkey. We are talking about geopolitical risks, tragic bombings in istanbul. We did see a move in the turkish lira. This is currently flat at the moment. The market taking it in stride. We have not seen turkish stocks react that wildly. Oil trading lower once again. More u. S. Rigs being added. Still, the sup
Next, and you also have the Federal Reserve hike, people worrying about that. Greece that snap election is being called by Alexis Tsipras. Will that cause more instability . Equities we are on the track for the worst week since 2015 in global stocks. We are in correction territory. You were looking at your screens now at manufacturing, falling to 48. 6. This is worse than expected french manufacturing is not recovering. German data is coming out later. But that french number is not looking good. Gold has been rallying, up. 5 . We are on track and goal for the biggest weekly up since january. Oil is continuing its selloff eight weeks we have seen the selloff in oil, the longest losing streak since 1986, almost two decades. We are at 40 at the moment. Lets look at how the euro is reacting to that french number. Valuellar has been losing as people recalibrate their bets on whether we will see a fed rate reserve hike. Many think it will be postponed until december. But weo is currently up
Ahead. Power lunch starts now yes, welcome to power lunch. I am michelle car use oh cabrera. Stocks have modest gains trying to avoid a Third Straight day of losses. Nasdaq higher by four. Two big toy makers rally on mattel jd. Com single day sales total more than 19 billion. And ggp is higher, after offer from brook field Property Partners to buy shares it doesnt already own. Higher by 8 tyson foods, higher 1. 5 beat on earnings that ceo joins us in a moment on power lunch. And tesla rallying 3 . Elon musk tweeting about a semi truck, unveiling this week saying it will blow your mind. Over to brian. He is in a special place yeah. Naples florida at the Global Leadership conference. Try to blow our viewerss minds with great guests. Talking market volatility or lack of. Bitcoin, Jpmorgan Chase, what happens when the Central Banks pull money back. Jeb bush on state of the gop and tax reform and ian bremer on trumps big trip, why a speech given by the president of china couple weeks ago ma
Protesters torched government buildings. Is the market already starting to price in his departure . Less than half an hour away from the european open and i am not sure if we will see ripples from brazil although that story is important and fascinating. Take a look at futures, up across the board here. This is after we had new records in the u. S. Yesterday, gains in youn stocks as well and so see european futures gaining here. Also take a look at the bund trade. We have the yield coming off fairly substantially so investors are buying german debt right now im a pushing the 0. 8. Down to zero blowing out the u. S. German spread. Pretty ridiculous, our guests said as the german yields need to come up. That is definitely not happening today. The li na. That is something to talk about having an impact on the euro rates as well. Greece is on offer. Look at the Greek Stock Market down 2 . Youve equities broadly bid. The bloomberg dollar index is down by. 2 of 1 and the yen is often the euro