Sanctions. Partslan to sell vehicle to help its turnaround and get back on track. It is also still looking for a new ceo. Shery lets check the markets. U. S. Futures unchanged at the moment. U. S. Stocks struggled throughout the session. S p 500 slumping after the fed rate decision. Markets taking it is a hawkish cut. In fact it did recover towards the end but it finished basically unchanged. We also had Energy Stocks dragging on the index. Crude falling for the last two sessions after that 15 gain we saw monday. At the moment unchanged, below 60 a barrel. Financials gaining ground today. We had yields plunging after the fed intervened and the repo markets injecting cash to soothe the money markets. That was paired back a little bit after the fed rate decision. 10yearold 10 year yield finishing around 1. 80. Paul some breaking news on the bloomberg terminal. The Hong Kong Monetary authority is cutting its base rate to 2. 25 . Pretty much as expected after the fed move today. So we have
And welcome to power lunch on this monday im melissa lee. Wall street in a Holding Pattern ahead of the fed stocks carrying out modest gains. Nasdaq the biggest winner at this hour. Communications services specifically, the best performing sector, led by facebook, netflix. We have much more on netflix ahead. Its all about the fed this week policymakers getting ready to meet tomorrow. A decision on Interest Rates set for wednesday followed by chairman powells News Conference Steve Liesman is here with more on what investors should be bracing for. The period of the feds patience could be coming to a quick close. The word first appeared in the january statement and was taken as it was on hold. Now patience is not long for the feds statement. We expect the statement to drop the word patient, which implicitly implies a hike, and albeit with noncommittal language heres are the probabilities we have been following. Still something of a bid on a rate cut this month. I guess you guys are going
Typically have over the past several months after the north Korea Foreign minister says that President Trumps comments over the weekends have amounted to a declaration of war. The dow and the s p have recovered to some degree, although they are still down one third of 1 . We are seeing a selloff in Technology Stocks today. Microsoft,etflix, all taking a steep hit today. Its an interesting disconnect we are seeing here. Atr a doll by heimer over oppenheimer, tough me about how this has been doing better. This looks postelection, we have seen this rally in the smallcap relative to the large cap. Getting done as the domestically Oriented Companies are seeing it potentially benefiting from that. Will continue to watch that trend as we get more details. Tenor seeing a risk off in the wake of those north korea comments. The yield reversing some recent games now. Recent gains now. It has been accelerating throughout the day. Still at historically suppressed levels. Oil is continuing its rally
So its not that we surrender and we dont have some of the alternatives and some of the responses, so, again, academically, i think you are absolutely right. We have to go into that, but again, in the interests of time, we have to conclude this socalled. Were running much further than academic and were going to ask now general gray to have the last word. I want to thank not only the panel e8 but the audience as well. Its been a super set of discussions and view points and the like. I couldnt help but think that cult oors are really important here and i think we have to understand the cultures of america and the free world as we know it today and the democratic environment and related governments and the like and the cultures that we have grown up with. And understand very clearly that there are other cultures out there which are maybe equally important and certainly different. We will never get the to first base in this entire challenge without understanding the cultures, the arabic cul
Frans 10year yields, spain is at 2. 88. Just to put that in perspective. Rates are way too high in this country. Im not kidding. Talk to frank blake, home depot. Look at europe at this time, kind of a mixed bag. Stocks started with small gains off the lows, about flat, lets call it in a lot of different ones. Not a lot of news out of europe this morning. Consumer staples, basic resources, health care lagging, financial services, banks, media and telecoms up. Our road map and it does start with the markets. Looking to make history, the s p aiming for another record high. Weve got earnings from Toll Brothers and michael kors, adding to what has been positive sentiment. Lots of buzz at the code conference surrounding googles driveless car. Carl is at the event and he is going to fill you in. M a also in the spotlight as it has been lately. Valeant increases its offer for allergan. Ge making its case to the french for why it should be allowed to buy al sted. Futures on the high after the s