The dow has been up seven sessions in a row. S p is up six out of the last seven sessions you are talking the highest closes since late july overnight in asia, the sang high deposit was closed for a public holiday. The hang seng up almost 1 in europe, it looks like now most of those markets are in the green, one exception is the ftse down by about. 1 . If you check out treasury yields in the united states, another big story is what happens to the yields some of that movement started after treasury secretary told us that Treasury Department is looking seriously at the idea of a 50year bond for some time next year. Right now, the 30 year is yielding 2. 28 i saw him later in washington and he started talking about 100year bond for the next consideration. Did you prepare for seeing him by watching the interview we conducted . I did thats why i decided to take the 50 and up theante and ask him about 100. To beat the record, he would have to serve 13 years see, i knew it were you talking abo
Manufacturing data this morning. Weve got full Team Coverage of todays selloff bob pisani is covering the markets reaction to that weak manufacturing data Bertha Coombs is watching the movers at the nasdaq Rick Santelli is looking at todays action in the bond market lets check in, though, where we stand. We are down 281, the low of the session on the dow was down 347. A slight improvement in the last 30 or 40 minutes or so but a significant fall from where we opened up 129 points or so lets check in with steve grasso from Stuart Frankel whos joining for the full hour. Steve, what is this . Recession fears again or is it justified to see this slippage you know, its funny, you know, im tempted to just jump onboard and say its all recession fears. And then you have the first day of the month and then you have impeachment. And then you have trade. But definitely, this is recession fears, but i wouldnt read into it as much as Everyone Wants to you have the first day of the trading month, th
The other big central bank today, talking about the ecb in a moment, turkeys benchmark , in cut 425 basis points line with president erdogans plan for the country. He lira is stable guy amazing. Getcut 425 basis points and your currency going in exactly the opposite direction. Lets talk about the ecb. This is maybe not the reaction mario draghi would have wanted. Initially, yields went down. He says inflation, we are really worried about it. Someone asks, why didnt you do anything this time around . He says we didnt even talk about doing anything this time. Yields go exactly the opposite direction. We are 41. An amazing day in terms of bond Market Action in europe. Lets take a look at other assets as we continue to focus on this story. Eurodollar trading higher. Again, not what draghi would have wanted. Thanks stocks have gone up because there was an expectation that next time we will see some structure. Ring that is really worrying for the snb in switzerland. Vonnie lets get to some a
Earnings report. Were digging into the numbers on that and much more. Its primetime for lady gaga the pop superstar teaming up with the Worlds Largest online retailer its wednesday, july 10th. Worldwide exchange begins right now. Good morning and welcome to worWorldwide Exchange. Im Courtney Ragan in for Brian Sullivan stock points to another loss for the dow. This would be four straight losses if we tack on to this session. The dow more than half a percent off of its record high the s p 500 and the nasdaq also indicating a lower open. We know we have a number of hours still to go. Lets get a check on whats going on in the bond market. You can see the yield on the ten year, 2. 108. Its actually quite a move from what we saw on july 3rd when we were at 2 1 2 year lows there at 1. 9 and change that jobs report really changed a lot. Lets go worldwide and check and see what happened around the world while perhapsyou were sleeping overnight in asia you can see we had a mixed picture. The ja
The nikkei was off by. 10. Hang seng managed to edge higher by 1 3 of a percent. Shanghai comp down. 4 of a percent. Over in europe, take a check there. We have red arrows aside from italy which is managing a. 6 percent of a gain. The dax is down by half a percent. As for treasury yields, it seems to be in focus it has been in focus as we are waiting. Fed chair jay powell might say about a potential rate cut in july the twoyear now 1. 925 . Quite a steep rise considering that the recent low is 1. 696 . 195 on a close. Amazing yields. Obviously stretched lower in trade news, top u. S. Officials, talks back on the hill the first high level talks with the chinese counterparts yesterday. They continue to try to work out a trade deal people close to the conversation say both sides are going to continue talking but that existing tariffs could be, in their words, the new normal. Netflix is losing another high profile tv property next year friends is moving to warner streaming service hbo max.