Opens in percentage terms. S p would open down about 3. 5 . Dow futures down by 2. 7 . The nasdaq down 3. 4 . Counterfactual here from the fear mongers. I think the sun will come up tomorrow. The european markets are having a rougher go of things this morning. Ftsi down, the dax over a 6. 5 . The cac in france down 7. 9 . Italy stocks down close to 10 and in spain the ibex is over 10 . Concern about weaker potential economies what would happen if after brexit the rest of the European Union starts to fall apart lets start working on. We have grexit as a word. Italianexit. Spanexit. Portugo. We need to start working on the signs. I think its already gone someone told me. Some that ugly looking thing. Lets look at the currency markets that is where much of the havoc had played out again. The pound had gone into this on the assumption that this vote would go and the uk would actually remain. As a result we saw the pound almost at 150 yesterday. Right now down by over 6. 5 to 139 but went a
Policy is with the entire path of Interest Rates will look like. And i really dont have much for you other than to say that they will be data dependent. That over time the stance of policy will be adjusted to try to keep the economy on a track where we see continuing progress toward achieving our goals of maximum employment and price stability. Theres, you know, the federal funds rate has been sitting in this zero to a. 25 range now for 6 years. This is and we have a large Balance Sheet. Were providing a very highly accommodative Monetary Policy. And even as we begin to normalize the stance of Monetary Policy when that becomes appropriate, its important to remember that Monetary Policy will still be very accommodative for a long time. And as we begin to normalize policy well be looking at unfolding economic developments and as the economy strengthens and we come closer to achieving our objectives i think its very likely that we will, you know, progress on the path of normalizing policy
Global markets are going now. Dont do it today, hitting that 118,000 mark, could tomorrows jobs number put us over the top . A closer look at what people are expecting tomorrow morning, when that allimportant report from the Labor Department is released, 8 30 a. M. Morelier Oil Prices Today as we showed here on closing bell yesterday. Some stations, look at that we did it, 1. 99 a gallon. Thats why a few politicians now from both sides to of the aisle are starting to talk about the possibility of raising the gasoline tax, which hasnt been done in about 20 years and use that money to help fix our crumbling infrastructure. We have a de bit on that. Our friends kudlow and frank will be joining us. That should be fun. Looking forward to that. Will have a chance to weigh in. Here is what we see on the markets, an hour to go in the session it is the oil names again which are weighing on the dow, off about 16 points. Seems like chevron off about 2 . Exxon down about half of 1 . The s p dividi
Decline in the dow and other major averages at this thing coming a head. When they stormed the store and the Printing Press area there. The dow did fall to that low of the day of about 229point decline and come back right now. Back 143. Take a quick look at the 10year, as well. This has been rallying as we know for a number of reasons and quite sometime and perhaps an extra bid on the flight to safety trade today. Below 2 again. That u. S. 10year. Watching it for everything from the influence on the Mortgage Market to what it does ultimately send in terms of signals for the Federal Reserve here and policy decisions coming up and we have heard from members expressing like charlie evan this is morning to rather be cautious than hasty to raising factors. If you hang on to that for a second longer cross currents and you can see that after the jobs number came out, stronger than expected in many ways. You saw the yields rise but then they were coming much lower, maybe a flight to safety and