Dom . How many of us wish we had more time, not just 48 hours but more time in general anyway, the markets right now are in a Holding Pattern thats what well call t. Marginal losses in the s p 500, dow and nasdaq, as you can see there. Just about a quarter to a third of a percent across the board here, but we were positive at one point today so a lot of that uncertainty playing out, but not a lot of reason to wholesale buy or sell so thats what were seeing in markets. One place where were seeing a good amount of positivity today is in the internetrelated names. Social media specifically. Check out this First Trust Dow jones internet etf ticker fdn is off the highs of the day, off twothirds of 1 small of the smaller social media ones are there as well helping to power this particular move remember from the lows up to here, it was up about 96 , and then it fell about 15 here and then up another 12 from there, so thats a move there for the social media stocks that were watching as well, a
Date on where the various districts of the Federal Reserve think the economy stands right now. Plus, jpmorgan taking on square and paypal with a big move into the Small Business space could the banks upend the market and these highflying stocks later, gm doubling down on its autonomous ridesharing business the ceo of cruise will be here to explain why he thinks ridesharing will thrive again after the pandemic power lunch starts right now hi, everybody. Lets go to dominic chu with big movers. I have taken over tylers spot at the telustrator. I will show you because tyler told us about the whiplash weve seen on the headlines. The markets are largely pricing in a lot of nothing right now. We were marginally lower, marginally higher at one point, and now were mixed across the board. Dow industrials off 30 points. The s p 500 up 0. 1 of 1 or four handles and nasdaq composite outperforming, up 13 basis points to be specific there. 3446 the last level for the s p 500. If you take a look at so
Pasani. For a year, it was oil, dow. Last couple trading sessions weve seen them maybe move in a different direction. Is this something people are talking about on the floor . Yes. Its encouraging that the s p is near the highs of the day with oil generally down for most of the day. There are four things worrying the world. One of them of course is oil. Weve had word that russia and saudi arabia may be agreeing on limiting production. Thats certainly a production freeze. But thats a high level discussion. The other thing is china. The pboc defending the yawn saying unlikely we are going to do serious devaluations. Thats the other thing worrying the world. The third thing is bank in europe and bcd draghi saying they are going to do whatever it takes. Deutsche bank may do some buying back. Thats the third one. Finally, the fed. Nobody said anything at the fed but basically were implying right now no hikes for the rest of the year. So big movements overall. How are traders taking the boun
Now is probably benefiting around 1,000 a year, and some very detailed microdata that i have seen on Household Spending patterns suggest there may be a link, as you would expect from reduce reduced amounts that people pay at the pump to overspending like eating out for restaurant meals and other things, but the aggregate data, you know, is not as strong spending is not as strong as it could be given the decline. And, of course on the other sigh we are it may be that it will take a while and its something that will slowly strengthen over time if Oil Prices Stay low. On the other side, of course, we have seen a marked decline in drilling, which is depressed investment spending, and, of course, very substantial layoffs in the energy sector. With respect to impact of oil prices on inflation and what would happen if they move up, the committee has generally tended to look through movements of oil prices, whether they were on the up side or on the down side, viewing it as a factor that shoul
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