This calendar year 2019, the nasdaq composite has gone up a shocking 27 , that reflects the money flowing into americas giant Technology Companies that dominate worldwide. The average gains of the s ps 500 companies this year, 23 , the 500 Biggest Companies with an average stock price gained 23 in less then 11 months. Look at how stocks open this tuesday morning. The dow will be up 40 points, it will be up much more than that if it were not for home depot which is a dow stock, down sharply. The s p up another 7 points. Look at the nasdaq up 27 for the year going up another 1 2 , 35 points higher. What a day, what i year. Make no mistake, we think the enrichment of america is more important than the charade called impeachment and todays show will reflect that. We are asking dow 30,000, lets get on with it. Varney and company is about to begin. Lets get to home depot. It will drag on the dow today. It is a dow stock, reported its earnings earlier and the stock freemarket down 8, 3 . Ashl
That youve got to hear about. And softbank playing hardball with wework the Japanese Company reportedly set to take a drastic measure to protect its investment it is monday, october 14th, and Worldwide Exchange begins right now. Good morning, good evening and welcome from wherever you may be watching. Im Brian Sullivan thanks for being the with us to start your week. Its columbus day here in the United States so the bond market is closed. Stocks are trading but a lot of people off, their kids are off so theyre staying home. When bonds are closed, we tend to see lighter volume in the equity markets but remember, light volume can often translate into larger price swings simply due to lack of liquidity dow futures are in the green but well call them flat you can see here not the same story in asia the optimism we had here last week, it trickle ed over to sta their week in asia shanghai or japan or south korea up more than 1 . Not translating into the european trade this morning where we h
Significant changes to our statement. Since the beginning of the year we have judged that our current policy stance was broadly appropriate and that we should be patient in assessing the need for any changes. In light of increased uncertainties and unit inflation pressures we now emphasize the committee will monitor the Economic Outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation near its 2 objective. Id like to take a step back to review how the changing economic picture brings us to todays decision. So far this year the economy has performed reasonably well, continued growth and strong employment. Inflation has been running somewhat below or objective but we expect it to pick up supported by solid growth and a strong job market. Along with this favorable picture weve been mindful of ongoing cross currents including trade developments and concerns about Global Growth. At the time of our last meeting which ended on may 1 there was tenta
Back of that record, record, record we cannot say that enough because we have indices at fresh record highs and the u. S. Stocks one of them, 23rdthe s p 500 this year. That is playing into the session, the nikkei 225, up. 80 today, and we saw that rally rod base in the session but in japan, the focus is on financials because we had a number of banks yesterday recording better than stronger forecast for the year ahead. What alsos claim into the dynamic are gdp figures what is also playing into that dynamic are the gdp figures. A lot worse than what was expected with the contraction of 1. 2 , and retail and business spending, as well. Lets switch to korea because we are coming back from an extended holiday on wednesday. The kospi pushing up high, 1. 4 , softening the weakness we saw in u. S. Housing and retail sales. We are also seeing the focus in korea is on how korea is trying to boost its online stock market with the program that mirrors what we have seen in japan so far, and we do
Put them together, you get paidweb. We look at one of the bestperforming china etfs this year. Whether you embrace or fear etfs, there is no getting around their influence. Of course, we want to bring in Eric Balchunas now to get a sense of where the money is coming and going. Eric you brought it up, it is deja vu all over again when it comes to etf flows. December flows going from 2 billion a day to 3 billion a day. Institutions have gotten back in the market because of tax reform. I can tell by the products they are using. A ton of flows. A lot of hot money excited. It is really dia that seals the deal. When we look at dias historical flows, the last time we saw flows like this was right after the election. Dia is the dow jones etf, which is largely forgotten. After trump won, we saw a lot of flows into the dow. Weve seen 1. 5 billion in december. Why do people like of the dow to play trumps agenda . Lets look at what the dow actually looks like. It is an odd index. It is price weigh