is this about the treasury market? it s a little bit about everything. i mean volatility is bark. we ve seen that since late last week into this beak. it has been a most wild ride yesterday and the day before. the biggest number one and two point swings ever in history. so the volatility in equities is back. some has a correlation to what we ve seen in treasury yields. we ve saw them pull back a couple days today, moving higher. we had the budget approval. that brought uncertainty, billions of dollars to be spent over the years ahead. took us off the earlier highs. in the morning just like yesterday we started off to the downside. less dramatic. same pattern. we re down 12points 127 points at open. in the end we flat-lined. we re down 19 points. we nearly lost 400 points of gains. that s too bad because we obviously seen a run-up. the big picture volume is here, volatility is here. we have to digest some moving parts. treasury yields don t always have inverse relationship
trump about how we could end up in a major, major conflict in his words. did put some pressure, if you see the nikkei, down about 0.3%. same with the hang seng. in europe this morning n some early tlading, things are mixed. the ftse is down by 0.25%. the cac is up by that much. the dax is up by 0.10%. with crude oil prices this morning, looks like wti is still below $50. up 27 cents. tech stocks on the move this morning. after quarterly reports late yesterday. let s give around up of what s going on. amazon eps tops estimates by 36 cents. saying revenue from the cloud business, advertising and subscription services helping to drive those results. alphabet beating the street on both the top and bottom line. strong ad sales sending profits up 29%, despite some advertisers boycotting youtube. and microsoft s ref knew ju revenue just missed consensus. sales of the cloud services platform jumped 93% in the quarter. last but not least, look at intel. reporting lower than expect
if just part of that comes back here, that s quite a stimulus, at no cost to taxpayers. let s get to politics. from president trump, he s invited philippine s duarte, and another surprise, the president has promised on key issues to keep the government running until the end of september. varney & company, about to begin. a live look at capitol hill and the white house and an agreement on funding the government. it s a trillion dollars spending package that would keep the government operating and keeps going through the end of september. here is what is out of the bill. here is the compromise. no funding for the border wall. no money for a deportation force. no cuts in funds for sanctuary cities and no cuts to planned parenthood. as we said this is a trump compromise and some will call it a trump cave. much more on this throughout today s program. again, we re going to say it, there may be a vote on health care this week. president trump says he guarantees you will not los
dow only declining three points, s&p advancing 1.6% i totally understand why when employment, the primary indicator of economic strength, is at its best level in four decades. but so many other indicators are slipping, everything from housing to autos, retail sales and oil. in fact, someone asked me what i thought of the market last night after a live audience show i ended up saying i don t know if there is a market to care about now. there s just pronounced sectors and rotations into and out of them that happen at the flick of a switch this week the health care sector ral yesterday. everything else took a dive. as well as some fabulous action in technology. still, the debate over the economy will rage, because the fed is in tightening mode, trying to get back to normal rate keeping that s fine if you re looking at employment numbers but not so hot if you re looking at anything else maybe we need a little life support, which is why we start on monday with the durable goods or
a gain of 115 points expected if we were to open here s&p is indicated up by 8 points. the nasdaq up by 31 points overnight in asia, you ll see that the market there s also ended higher with the nikkei up a third of a percentage point. the hang seng up 0.8%. the shanghai up 0.59%. and the kospi up 0.84% in europe this morning, you will see similar moves. gains across the board there the dax is up by 0.55% so is the cac. ftse up by 0.8%. if you check out wti, crude oil, $50.27 wti for july broke a four-month losing streak. had its best month since april 2016 look at the dollar index, the dollar index saw its worst month since 2016 dollar is stronger against the euro and yen trading at 1.1813 and the dollar/yen at 110.34 fifth negative month in a row. let s get you through some big stories. the s&p 500 will start excluding companies that have multiple classes of shares. the move bars snap from the index. the company offering new investors a class of common stock with no votin