That helps the market. We have irans foreign minister saying if this continues the us will not be spared from this fire. Doesnt unite buying interest at the corner of wall and broad, very little to do with whats going on in israel and the middle east but a lot to do with concern some of that is going to rub off on the markets. There was the uncertain outlook that happens in the middle east, thats Royal Technology stocks in general, the nasdaq in correction territory. Lets look at the significance of that. The chief global strategist and former executive, good to see you again. What do you make of the fact those comments out of iran, markets dont respond, they dont think it will be 50 years ago, known used to no need to overstress. Reporter we are responding to that rhetoric and it got us on edge. We had some positive aspects, and every time you get good news, the trepidation they mention the box, the strong gdp, what it does is sets up the fed to continue our hawkish narrative, that go
Makes the company so far resilient to higher rates. Dom chu has the numbers. To your point, kelly, if you look at the s p 500, thats down roughly 54 to 5, does represent session lows at this point even at the highs of the day, only down about three points so it has been negative. Specifically in tech and communication, thats been driving the down side. 245 points on the down side. For those listening on sirius xm, its 4133 at those leaves do you 2 , 12,555 for the nasdaq each of these major indices is below the longer trend 200day moving average. Another place to keep a close eye on, look at the semiconductor etf again, the chip makers is below the 200day moving average, so something to keep an eye on as well for some of the stocks driving the action, of course, earnings from alphabet, even microsoft sharply up day yet is down about 3. 5 today. And meta platforms, weaker on the heels, and all eyes on amazon this afternoon, given what we have seen, with earns that could be something to
Two major stories breaking, just hours ago. First, congressman mike johnson is the new House Speakerelect with 220 votes, mike johnson gets the come back player of the year award. Israeli Prime Minister netanyahu announcing a ground incursion is coming. U. S. Objections notwithstanding, our own Grady Trimble and Lucas Tomlinson. Thank you, lets go to fox business Grady Trimble live from capitol hill, we have a new speaker and a g. O. P. Come back. Reporter yes. It took three weeks and four of options for House Republicans to find a new speaker, but once they did, they wasted no time swearing him in, passing off of gavel and putting now House Speaker Mike Johnsons name above the House Speakers office in the capitol building, every single republican voted for johnson, that is something that even Kevin Mccarthy could not say after 15 rounds of voting. More about johnson, he is in his fourth term in congress and first House Speaker from the state of louisiana. He has a good reputation and
Kick off the final hour of trade. Look at the dow jones industrials, down 40 points. Low of the session, down 291. So a big comeback here. The s p 500 down 19 points, but weve got breaking news on the nasdaq. Right now it is still falling deeper into the correction hole, right now down 122 points. Of course, it tumbled into correction yesterday. Right now the techheavy index though is well off the lows of the session. You can see low of the session a loss of 277, so weve chopped that in half. Yesterday though the composite suffered its worst day in eight months, clocking a 318point loss are. Alphabet really led the dive into correction with a bruising 9. 5 loss on weak cloud results, the google parent getting hit again this session, down 2. 69. Off the lows, but thats good for at another about another clip of 2. Yesterday was the worst performance for the stock in three and a half years. Microsofts 3. 1 gain wednesday was not enough to cushion either the nasdaq or the dow, and today it
Kudlow, im larry kudlow. All right day 20 of the barbaric hamas hezbollah iranian war on israel. Lets go to directly to our reporter on the ground greg palkot who is our Senior Foreign Affairs correspondent. Greg, what can you tell us . Yesterday was almost like a full invasion. Whats going on today . Reporter well there is a lot of movement and a lot of different fronts here, larry, signs that the next stage in this war is definitely approaching. Overnight in the past night the most aggressive ground incursion weve seen yet by the Israeli Military in the last few weeks. Tanks and troop carriers crossing into northern gaza. Less than a mile, just for a few hours but they were hitting hamas militant firing positions, ambush sites, what they said is preparing the battlefield for what appears to be that major land invasion. This as the airstrikes by israel into gaza continue. Some targeted bombing runs hitting hamas militant leaders. Leaving a vast scene of destruction, landscape, masking