Im sara eisen alongside dom chu who is in for wilfred frost. Happy veterans day. Thanks to all who have served and all who are serving in the military right now. I echo that as well. Lets get to the markets. After quite a rally for the dow, finishing at a record high. The s p not there, and the nasdaq has been the underperformer all week long. Its only up about 3 so far this week versus the dows gain of 5 . Right now the dow futures are up 21. S p features down 2. 5. Nasdaq futures down more, 43. So this rotation out of tech continues. The bond markets are closed today in honor of veterans day. Lets show you where the tenyear note yield finished yesterday. Just to give you a sense of the story of the week, which is yields shooting higher. Look at the end of that chart, jumping to 2. 1. Big selloff in u. S. Government debt has been a key theme in the wake of the trump surprise victory. What was that druckenmiller quote from yesterday . Rates could be like a beach ball submerged underwat
Inventories are today. 11 00 a. M. This morning. Hillary Clinton Holding a News Conference in the next few moments. We will take that live. When it begins. Road map with apple unveiling the iphone 7, will the new features boost the companys product cycle. Getting a downgrade from wells this morning. Hp enterprise shares falling despite what was an earnings beat, servers numbers perhaps a concern. Ceo meg whitman right next to us here at post nine. And b of a Ceo Brian Moynihan said more cost cutting is coming. First up apple hoping the newly launched iphone 7 and 7 plus will revive slowing sales. The features include longer battery life, higher resolution cameras, Water Resistance and, of course, the lack of that headphone jack. Meantime wells downgrading it to market perform expects shares to be range bound since positives surrounding apple largely unknown. The journal today, though, says enough new fiereatures people w be tempted to upgrade rather than next year. Age is ignorance. I
Today. Sparking worries in the broader markets. Some questions whether this is an Early Warning sign of a broader sell off. The nasdaq is coming off its biggest one day losses in nearly a year. The index is on pace for the worst week since october. In the meantime the dow and s p are down 2 in the last three days. As we talk about a sell off lets talk about the hideous elixir. A witchs brew. Or a famous miles davis album. What was that 300 point advance we saw last week after yelen took out patience . How much fundamentals were underneath that move higher . How real was that move higher and what inspired it . What about the recent economic numbers. People are still talking about 3 year in gdp but they seem committed to increased rates so were in an environment where the fed is for all intents and purposes tightening and then i have been making the point you put apple in the dow and youre asking for it. Youre trying to top the market out. Lets look at a six month chart of apple now. Num
Anyone who still needs to do christmas shopping. A week from now you know Christmas Eve is a week from today. Just so you know. Eight days till christmas. Are the best deals yet to come and how late can you order online kelly, and still get it on time . We have your crucial retail details and stocks that are moving on all of this news this holiday season. Are you telling me youre done, that youre already finished . Im 90 done. Also coming up the whos who of the Tech Industry descending on the white house today. The president said he wanted to talk about how to improve healthcare. Gov but the tech titans wanted to talk about the nsa and demands on their company. Would loved to have been a fly on the wall. Hes a sitting judge, familiar to most on wall street he has presided over wall street financial cases for year but judge jed rakoff has written an essay asking why have no highlevel executives been prosecuted . Is that appropriate for a judge to write and will this ramp up pressure to
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