Stocks are in the red, at least no now do you as much as check out movers, underarmour, soaring, earnings estimate were met blue apron rallying. And wayfair hitting new alltime highs. Climbsing about 6 in that time. All right. For more on the markets, le ate go to the New York Stock Exchange and check in with bob pisani bob . Tyler, 111 points in the dow, used to be big news a few weeks ago, but not anymore were starting to settle down. Im not saying its over yet advancing to declining stocks. The volume, surprising below average from what weve seen in the last few weeks, volatility is moving in a much narrower range. Trying to find some footings sectors, well, the market leaders used to be slightly to the down side. Banking are fractionally positive consumer staples, defensive group has generally been stronger all day here. Finally were following as interesting story from an anonymous whistleblower who has written a letter to the s. E. C. Alleging we dont have his name or what he does
The impact on the markets. Fed chair jay powell steeping out on cap hill. He signals the fed will keep raising rates. On that note lets go to senior economics reporter Steve Liesman for more highlights. Thanks very much. Yeah, fed chairman Jerome Powell in his first testimony before Congress Says that he doesnt believe this is going to happen, but one of the risks out there is an overheating of the economy. And he opened the door in a very subtle way to a possible fourth rate hike. Saying, you know what, the economy is strong. Weve had fiscal stimulus. His view on the economy strengthening as well. Heres what he said. Weve seen fiscal policy become more stimulative. So, i think each of us is going to be taking the developments between since the december meeting into account and writing down our new rate path as we go into the march meeting i wouldnt want to prejudge that. Heres what jpmorgan says about that economy todays comments appear to open the door for others on the committee to
At 4,994, close to 5,000 obviously. At 1,249 is where you find the russell. Bob pisani is at the New York Stock Exchange. Janet yellen is giving her prepared speech in cleveland. Have we seen any kind of reaction in the stock or bond markets . It didnt have to be because the whole world gapped up at the open. I would say modest reaction but no big surprises in her commentary. Important thing is what happened overnight. Were 51 almost advancing to declining stocks. Its been that way almost the whole morning. Tech materials, consumer staples, financials, all the riskon group here everything is up 1 because the whole world went up 1 . The s p 500, we gapped up 20 points at the open. Thats really rare folks. Thats 1 right at the open. That was on greece. We surged overnight when the details on the greece talks came out and they were offering concessions, at least from the greek side. It even happened more strongly in germany. We had a 2 gap up in germany. You can see the Straight Line ther
Leaderboard. No bubba watson. Its right behind you there it is there it is. Caterpillar, apple moving up, boeing, intel, verizon, theyre all there. Mandy is still down under. Kayla tausche down on the floor of the New York Stock Exchange. Great to be with you here on this monday afternoon. We are watching the dow snapping that sevenday losing streak. Also seeing its first 200pluspoint gain since the middle of july. Bob pisani is here with me on the floor to look a little bit deeper into what exactly is pushing the markets higher. Is it all industrials today . No, it is pretty broad rally. 41 advancing to deshriclining stocks. Seven days down in the dow industrials. That doesnt happen very often. Were due for a bounce. Theres hopes for stimulus in china for all the wrong reasons. Look what happened to china today, both shenzhen and shanghai up 4 to 5 . Economic data was very disappointing overall here. Ppi and trade numbers were terrible. But shenzhen and hang shy both rallied, hong kon
Shares of dow component nike rallying today after the company said it expected sales growth to be in the high Single Digits over the next five years the Company Holding its investor day investors are liking it so far so far. And mark parker will be joining us in a rare and exclusive interview to discuss more about his plans for growing revenue for the sportswear giant. Its the best performer in the dow components today President Trump said earlier this afternoon the u. S. Desperately needs tax cuts well talk about that and more, Congress Secretary wilbur ross will be here post nine joining us exclusively coming up in a little bit good lineup of guests. We have a good lineup today. Lets get to the top story. The market selloff continuing today. The major averages off the low right now but the dow was on track for the worst day since early september. Lets bring bob in here look whats driving the move lower today. Hello william finally volume and volatility and we should have it because w