Are strarting to show signs of cracks. The materials, the financials. Some groups that had run a lot. I still like the financials. I still like the financials. I think the materials, yeah, they are way out in front of themselves. That doesnt mean that that means its the end. Maybe they pause for a while. You can see it happening in the steel stocks, for instance. Today there was also a down grade out there. If you look at the financials, the financials have been absolutely on fire, and ill tell you, the other thing is we talk about and we focus all the time on volatility, right . I talk about volatility. Here we are back underneath 13. Were in an extremely low volatility in terms of the measurement of the s p. Look at the ovx. Look at oil volatility. It went from 33 to 55 in a short period of time. One month. That just gives you a little idea how much volatility you have in that energy space right now, and obviously with opec in front of us, thats part of it. Theres been a lot of this
Beat goes on and on good morning and welcome to Worldwide Exchange. Im sara eisen. Im wilfred frost reporting from washington today as wells fargo ceo was the before the Senate Banking committee. More on that including his prepared remarks in just a moment. Finally a very good morning to you from me as well. Looking good in washington. Miss you here. Playing my Favorite Song to keep me in a good mood. First a check on the global markets. U. S. Equity futures after they gave back most of their gains yesterday on the turning in oil prices. Oil was up 2 gave most of that back and stocks followed suit. Looks like were up in the premarket here, 42 points on the dow. Futures up five and nasdaq up about one. See if we can hang on to those gains. Theres some Economic Data, some housing earnings and of course two big fed meeting and boj meeting starting today. For the ten year treasury note yield lets show you where we are this morning hovering around that 1. 70 level. Hasnt bunched. 1. 69 is y
I am alix steel. Have you done the bucket challenge . I have not. I would not mind donating money. I do not see myself doing the bucket challenge. I challenge you. You are like the seventh person and i am still not going to do it. Going to existing home sales for the month of july. Scarlet fu in the newsroom with headlines. For the month of july economist looking for a drop. Instead what we got was an unexpected increase month over month. Existing sales rose 2. 4 from a month ago. In terms of an actual number, 5. 1 5 million, higher than what economists had been looking for. I was told 5. 1 five millions the highest level since october. Some good news on the housing front. We know the Federal Reserve had been siding housing and weakness, but concern is the slowdown as you look at the rotter economy. Another index is the leading index of Economic Indicators higher than anticipated as well. Again of. 9 . A gain of. 9 . Falling more than anticipated to below 300,000, a sevenyear low and e
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