Yellens comments. Check out the futures this morning. 227 points for the dow. Now down by about 25 points for the dow futures but up 5 points for the nasdaq and down by. 57. The big story is the dollar. The dollar got slammed on this news but the euro surging past 110 at one point. It was the currencys biggest move since march of 2009. Of course you have to keep this all in mind looking at the dollar verses the euro in recent months. The euro is back at 10898. Michelle will be joining us with more on what happened in just a moment. In the meantime lets get you caught up on the other big stories were watching this morning. Target agreeing to pay 10 million to settle a Class Action Lawsuit related to the massive 2013 data breach. Individual victims may receive up to 10,000 in damages as part of the deal. A hearing on the settlements is set for today in minnesota. Apple officially a member of the dow this morning. This is the first day of its membership. The Company Ranks 5th in the price
Been so altered that were still dealing with it every day in the Financial Markets and just dont know it. Thats how i feel today after the shocking decline in Interest Rates that seems out of sy, this c with the averages. A decline in Interest Rates that i think actually caused the averages, bonds into stocks to hit the skins. Dow falling 101 points, nasdaq declining. 72 . When Interest Rates have gone down in the past, stocks have almost always gone up. Kind of lock step. But the linkage has been broken for certain of late. Now people just fret that if rates are going down, well, we have to be teetering into recession. How else can you explain it . Thats the wrong conclusion people. Theres a lot more at play including a newly frugal american chopper. Part of my some what reserved outlook comes from stress tests, reflections on financial crises. The new book by tim who i will be interviewing in new york city right after the show as much as i lived through the crisis like many of you ca
Ugly week, lets look forward and talk about the game plan for next week. This business isnt about the past. Its about the future. Now, we start off next week worried. Worried about the rest of the world. The numbers out of europe and china are okay. I hope that can change monday. The pmi is coming over the weekend. Along with the why is it so important . Give the main Portfolio Managers looking for a resurgence of International Industrial that is are based in the u. S. The profit taking in this has been down right horrendous. Maybe strong numbers from europe and china over the weekend could allow for a nice oversold rally. One that may have started the last half hour of trading today ask kind of gave up the ghost in the last ten minutes. We hope it see more news on chatter that spring theyve been preparing a bid for t mobile, like them both. Something my friend david faber said could be in the works many times in the last few weeks. Now, this potential deal would help sprint get heft,
Definitely an ugly week, lets look forward and talk about the game plan for next week. This business isnt about the past. Its about the future. Now, we start off next week worried. Worried about the rest of the world. We could be concerned with just our own country. Some of the weakness is because of the rest of the world. The numbers out of europe and china are okay. Im calling them tend tepid. I hope that can change monday. The pmi is coming over the weekend. Along with eurozone manufacturing pmi. Why is that so important . Give the main Portfolio Managers looking for a resurgence of international industrials that are based in the u. S. The profit taking in this has been down right horrendous. Maybe strong numbers from europe and china over the weekend could allow for a nice oversold rally. One that may have started the last hour and a half of trading today but gave up the ghost in the last ten minutes. We hope it see more news on chatter that sprint maybe preparing a bid for tmobile
Lets look forward and talk about the game plan for next week. This business isnt about the past. Its about the future. Now, we start off next week worried. Worried about the rest of the world. We could be concerned with just our own country. But the rest of the world. The numbers out of europe and china are okay. I hope that can change monday. The pmi is coming over the weekend. Along with eurozone manufacturing pmi. Why is that so important . Give the main Portfolio Managers looking for a resurgence of International Industrial that is are based in the u. S. The profit taking in this has been down right horrendous. Maybe strong numbers from europe and china over the weekend could allow for a nice oversold rally. One that may have started the last half hour of trading today but gave up the ghost in the last ten minutes. We hope it see more news on chatter that sprint maybe preparing a bid for tmobile. Like them both. Something my friend david faber said could be in the works many times