Get ready for more fed speak at home. Our road map begins with the president. No pullback despite the near daily drama in washington. New this morning, Electronics Ban targ it eieting flighting from muslim majority count countries. The president takes a visit to capitol hill, selling the Gop Health Care bill ahead of the vote on thursday. Stocks continue to show resiliency. The nasdaq taking aim at another interday high after four Straight Days of gain. The dow and s p up. S p is up 11 since the election. But the nasdaq put together three gains of less than a point. Yes. Which hasnt happened three times in a row since the 90 s. Closes at 5900 or 5901. I mean, it obviously tells you, maybe not that much going on, but also a coiling effect potentially. Youre seeing the volatility indexes and Everything Else looking like, you know, sort of the movement has been this offsetting action. At some point, no broad selling pressure. Really, something is working to keep it supported. It is amazin
The u. S. Trading day. Julie hyman is tracking the allout from the surprisingly hawkish fed minutes yesterday. Julie but we are having a delayed reaction. Yesterday, stocks came down afterward but finished little changed. Also, as we hear from other fed members who have been making comments this morning, saving to support again that june is on the table, july could be on the table. , s p, and nasdaq are all trading lower, up off the lows to some extent today. Yet, when you look around at other markets, they are not necessarily supporting this narrative. You could look at the twoyear as well as the 10year, and yields are actually lower, which is not what people would take if. Nterest rates are going higher im looking at world bonds and twoyour notes around the globe. The u. S. And canada at the top. As you go down, that blue column, you see a lot of negative numbers, so you are not getting yield elsewhere. The yield still at least relatively by comparison looks attractive. Also look at
Markets desk where julie hyman is looking at what is moving. Like a newooks record for the s p and dow, but have been struggling since the open to hold onto the gains we have seen early. The dow is up 16 points and s p gaining a little more than three points. The nasdaq is the big winner today with gains of half of 1 . You are seeing a clear divide and a clear push by tech which is higher, mostly from microsoft, which well get to in a moment. On the downside is energy. We are seeing a decline in oil prices. They took off on the downside at this morning here. The dollar is higher today. We are getting the weekly Inventory Data in about a half hour. I will be bringing you those numbers. In the meantime, the oil price going lower is putting pressure on energy stocks. The also got earnings from halliburton that initially looked sort of mixed. On the one hand, the countries numbers missing estimates when you look at the north american operating loss, which was 8. 2 . That was worse than had
Feel the effect. Politicians around the world have condemned the effect. A series of questions that we are going to talk about this morning answers are very thin at this stage. Lets talk about how the markets are feeling about the story this morning. The markets increasingly that kneejerk reaction is not what it once was to terrorism. The markets are desensitized in some ways to what is happening on french soil. We have the cac 40 trading down by 0. 4 this morning. Expectedrkets are not to generate a big response. What else are we seeing . Not much of a move in the french government bonds either. There is not as significant a flight to safety as we expected. Against is weakening the pound. This is more of a pound move against the euro. Elsewhere, money is moving out of the end with the and continuing to weaken. The rally continued across in asia. It seems as though as you say, the market is desensitized. Maybe we will not see quite the kneejerk reaction we have seen in the past. This i
We will dig into that in a few minutes. To theot confined financials. A relatively broad selloff. Groups Like Health Care are leading the downturn in todays session. At the lows of the day of the moment. The dow down 1. 5 . The nasdaq is really bucking the trend. In todays session we are watching what has been going on with crude oil as the meeting in algiers is happening among opec members. You can see crude oil prices up more than 3 in part as it looks like saudi arabia is opening the door to future Production Target deals. It is contingent upon access on our ron. The dollar falling today also. Offshore drillers doing among the best. Transocean leading some of the games in todays session. At the dowing movers. Goldman sachs initiating coverage of some of the stocks. Morgan stanley out with negative commentary. Marriott is the only one on the approved list. Winners. Ip side realty even as hotel stocks fell off, Real Estate Investment trusts going higher. They seem to be benefiting fro