Lets check where we stand on this wild markets day stocks taking a dive in just the past few minutes, now down 130 points all the major indexes reversing at the tenyear yield hits its lows of the day. And that is a sign of worrisome growth ahead lets go to bob pisani hi, bob. Hello, tyler. Again, markets roughly tracking bond yields. Take a look at a chart weve shown a lot recently the intraday of the tenyear versus the stock market here we saw a program come through as yields dip below 1. 5 here weve been trading practically in lock step with those yields today. See the market here with the tenyear yield on the top there in the s p on the bottom this is an intraday. And pretty much moving in lock step i want to note two weak sectors today. Retailers are continuing to get slammed today. Macys gap, l brand, all down another 4 these all of them are down about 20 this month i want to highlight transports common theme here. Logistics and trucking like jb hunt and rooyder ryder, all wear to
Lower on concerns about the health of the u. S. Economy and a number of new bearish notes from new wall street firms hurts the sentiment further. Lets check in on the biggest losers in the dow, which as morgan just said, is down sharply, near session lows, which were 462 points. Its currently down 410 points, as you can see, pfizer down 4 Goldman Sachs down 2. 7 cat down healthily 2. 56. The 30year just hit a yeartodate low of 2. 117 t the. Joining us for the full hour, victoria fernandez at cross mark global investment. Thanks for joining us. My pleasure when you see yields slip like they have done, like they did last week, does it make you want to press the sell button for broader u. S. Equities . We dont want to sell we have that longer term outlook. We think theres a lot of volatility going on and thats going to continue to play out. We are looking at these treasury buys, not just from Short Coverings but outright buying as well but i think you stay invested at this point there we
Sort of waiting for it. We got it today. Very interesting, and a lot of this comes from some of the overnight data we got overseas, like you mentioned from china, and then the u. K. And from germany, and of course now here in the u. S. Markets deteriorate in the last hour or so. David we come back to the same question again and again. Is this a projection of future growth, or or of a position where people need to put their money somewhere and drive down yields as a practical matter . Taylor lets get a quick data check. It is all about bonds today. We talked about futures here after what was a really good day yesterday, deteriorating this morning. Off about 1 or so. Ns is back in positive territory. German tenyear now at a 64 basis points. You wonder what the ecb does next. When we look across asset for the safe haven plays, for me it is all dollaryen. We have again continuing to strengthen. Handle is something that catches my eye. Gina we are joined by martin adams and vince cignarella
Anthony, put your hands up anthony. Anthony. The 56yearold gomez was shot once in the upper body and died at the scene. Police say he was holding a dark painted piece of wood, similar in size to a handgun. San leandros police chief says an investigation will help determine whether officers acted in line with department policies. San Francisco Police are piecing details together in the fatal collision involving a pedestrian and a semi. The man was hit this morning at market and fifth. The tractortrailer was later stopped near front and battery street. Susies time on why the driver may not be charged, even though he didnt stop reporter i am standing right here on broadway, right near front street. As you said this is where that truck driver was pulled over. It is more than a mile away from the original crash site. I am told that he is not expected to be facing charges just yet. We are told he did not know that he hit anyone, let alone drive to them two city blocks. Know what to die that
Progress by now. Reporter progress will take longer, sausalito is having to relaunch the bidding process for the cleanup after failing to meet all of the criteria set forward by fema requirements necessary for that funding. We do not follow it exactly, it is very complicated and we have not done that in the past. We missed a couple of the criteria, the checkoff criteria. The bidding process begins again, this time the city manager will have the authority to accept a bid on behalf of the council if that helps to speed things up. Starting over however will push the cleanup back at least another month. We are all very cognizant of the timing issues and try to get that resolved and on its way. All in all yes it is an inconvenience but you know, no one got injured. I couldve been a lot worse. Let us step back a little bit and think about the circumstances that sausalito finds itself in. Earlier, not too many months ago, we were in paradise with the city council was telling oaks that had mov