Soaring rates. Where housing is headed in the second half. Power lunch starts now well stocks are in the red this hour, but they are well off session lows now down just 47 points on the dow. It was down more than 230 earlier. Still it is on track to break its fourday winning streak. The s p 500 on pace to break its fiveday streak. Treasury yields up strongly. And kelly thats right. Stocks are staging a comeback. Around the best lels of the day this afternoon seema is tracking the action hey, kelly. Stocks leading the dow include Goldman Sachs, boeing and nike a chipmakers are rebounding around 10 40 a. M thats when the s p 500 bottomed out. So tech is playing a role in this turn around as well big losers include rate sensitive group, utilities and real estate. Even a number of consumer staple names. Theyre down about 1 on the day. Trader caution though its important to smooth out the data and look at the broader trend. Taking into account the stronger jobs growth. The average growth is
Yesterday, still hovering near that level. There it is, the ten year. 4. 92. Its clearly put significant pressure on regional banks and real estate as both of those sectors are among the hardest hit today. Real estate is making a turn, though, as we begin the final stretch. Regional banks have been under some significant pressure. The nasdaq suffering as well, as you might imagine. Theres microsoft, meta, alphabet and amazon. We throw those four up because they are the four reporting earnings in the coming days, each with a decline about 1 . It takes us to our talk of the tape, whats really riding on the results next week and what is the busiest stretch of earnings season thus far. Lets ask Dan Greenhaus back with me at post 9. Its good to see you. Thank you, sir. Its been a bit of an unsettled week. Volatility has picked up a little bit. Does tech come in next week and save the day or raise more questions . No. Listen, i think the important thing to note, i would argue, about tech is
After the bell, here we go again. Earnings its game on salesforce hp hewlettpackard enterprises. Guess. And gamestop all reporting tonight. Well tell you what to expect. A debate on whether gamestop can capitalize on the video Game Movement that stock has suffered mightily. A yield of 9. 25 right now unbelievable. Lets start with todays market rally all four major averages are in record territory the s p crossed 2,600 for the first time today joining our closing bell exchange, david kelly from Jp Morgan Funds peter costa from empire executions is at post 9. Rick santelli is at the cme in chicago. Peter, the engine keeps chugging along here. Oh, my god. Its almost unbelievable to today, this was a little unexpected i think we did have positive data this morning. To see the market open up 150 points without batting an eye and continuing to stay strong, you know, its theres a confluence of really good things good earnings, low interest rates, even with the rate hike next week, next month,
Could be at risk because of not enough capital. And thomas cook shares dive more than 10 as margins are pressured despite a turnaround in demand for trips to egypt and turke turkey we are an hour into the trading session here in europe so far stocks are just slightly tilting firmer, but not by much on the broader image of stocks on the stoxx 600, the core markets not exactly helping out. The ftse, the cac, the dax, the uk market is slightly higher than the rest. If youre looking for decent gains, its on the spanish stock market that market up about 0. 6 , versus what youre seeing in the rest of the charts the ftse in the uk and the ftse mib selling, but the dax and cac on the flat line in terms of sectors, this is how were perched. Travel leisure at the bottom thomas cook not helping out the Sector Technology down by 0. 4 . Media stocks weaker. Rw in germany moving towards the upside we had a fairly firm move in the price of brent overnight 1 higher. Almost eclipsed by wti, up by 0. 19
Yeah. Didnt scrooge send over a turkey at the end . He did something. He sent over dinner. And tiny tim was like, wow, its the best christmas. I dont know if that was the book version or the movie version. Im getting a little wait a minute there was a book huh . Yes, charles dickens. I know you know this we had this discussion there was a book it wasnt just a movie some people we know get all their news in tv which we hope is you at home. We hope you are getting your news here today. Look at the u. S. Equity futures. This is after major averages closed at record highs the s p 500 closed above 2600 for the first time as we saw this technology rally. This morning things are mixed. Dow futures up by 12 s p is down by a point and nasdaq down by 3 points. The major averages have been up three of the last four sessions. The dow had its 60th record close of 2017. The s p 500 saw its 54th record close of the year. Guess how many times, if you want to get to the record, 54 so far this year. The