Down day in a row. Lets look at the chart we have been watching. Below its 100 day moving average. Moving had 200 day average and blue. Tendency to drop back down during the volatility of last year, in the fourth quarter, well below the 200 day moving average. Low bitittle bit below the 200 day. You can also make, from another pattern, the case that the s p 500 is confirmed to drop even 2600. Possibly toward sarah ive been focusing on the financials. Today, they were once again the worst performing area of the market. All but two members of the s p Financial Sector were in the red yields lower and yield curves flattened across the board. Pularu look at xlf, a po exchangetraded fund that tracks the second, we have the sector, we have seen outflows. If you add this for last week, 2 billion. That is the worst single week outflow since 2008. Thank you so much. Malik and us is saira luke kawa. Sarah piggyback off what was just talking about is it really signaling the process of they signals
We are seeing a little bit of a lift. 0. 8 . G some a lot of that has to do with a little bit of optimism when it comes to trade news. We know the conversations are ongoing. I am looking at the u. S. 10year yield. 1. 6 after a big week. Lower negative rates in europe. We will have a look at 10year yields. We will ask ourselves what the inversion meant. Oil, 55. 52. Oil rising after we had this drone attack at Oil Gas Facilities once again underscoring some of the fragility of that region. Coming up, we have an interview with the boston fed president. Dont miss that chat after 6 30 p. M. London time today. This goes back to the conversation as jackson hole starts on thursday. Lets get to the first word news with viviana hurtado. Viviana the iranian tanker looks to be heading for greece. That is according to a vessel tracking data compiled by bloomberg. It was released by the british territory after being detained on suspicion on sending oil to syria. Rain for an 11th straight weekend. 1
Investment committee, josh, steve brown, we begin with the markets, stocks continue to stage their rebound, rise in bound yields giving relief there. You finally can take a little bit of a sigh of relief that yields have stop going down, maybe they bottomed and stocks did too. I feel like were in one of those moments and we have had them off and on over the years it remind message a lot of that risk on, risk off kind of market environment that we had previously spent months in different years throughout the recovery 2011 stands out. We probably did this in 2015 too. Where you have days is obvious, today is a risk on day, and so they sell off all the bond proxy, defensive sec ttors, and lasts a di or two days, and find yourself in other days, theyre taking up consumer stable stocks and utilities and Everything Else gets dumped i dont know that were definitively in that for a long time, but we have definitely been in that the last week or so maybe thats the way it has to be until we get
Chipotle is up 3. 5 today. Expect other restaurants to do well. The initiation includes stocks like starbucks. 500 is still down a quarter of 1 . We are getting some diverse action among the major indices with the now stack nasdaq and dow almost down 1 . Lets get to our top story. Lets start with the Central Banks. A massive week for Central Banks. Overseeing the fed is at the nickel of that mountain pinnacle of that mountain. Do you think that this 25 consensus is setting us up for a surprise later this week . It sounds slightly contradictory. We have 25 priced in. If we get to five, do equities fall on the back of that . Is that an opportunity . If we get 50, does it go up . I am wondering what the opportunity for the pale risk scenarios are. It is fascinating. Here is the first stop of a rate cutting cycle we have had since september of 2007. It is very unusual and a rare event. The market prices it to be a rate cutting cycle. The market is pricing 100 basis points out of the next 1
Power lunch starts right now with two hours to go, here is where we stand with the markets. S p and nasdaq hitting record highs to close out the week. Nasdaq better than 1 . Alphabets power move behind that rally stock of double digits best day in years kelly. Thank you we are a week away from the decision of a rate cut the National White house economic adviser larry kudlow saying it is a miracle the economy is growing at all given years of monetary tightening mr. Liesman is here. Other parts of the economy reverse the strength of the First Quarter. Lets look at the details. We were looking for 1. 81 consumer is 4. 3. Best member since 2017 and powered by durable you see federal spending up 7. 9 Business Investment and exports were negative. In fact, i want to show you the reversal of everything strong went the other Way Investment positive in the first. Inventory. You see the consumer the contribution to gdp. Less than 1 to less than 3 that is a very big number. Here are the july prob