Sara eisen great to have you with us lets get straight to the markets. Extraordinary seesaw session yesterday. The dow up 300 points at one stage in the morning, around about midday lunch time, started selling off, such that the dow ended off 58 points or 0. 25 those intraday swings were similar across each of the indices. The s p ending lower the nasdaq ending down 1 . Definitely the same theme throughout the day whether we were at the peaks or troughs thats the selling of things like tech and buying of things that could benefit from a lower Corporate Tax rate like financials this morning you can see a similar theme once again the dow is higher. The s p is fractionally higher but the nasdaq is lower. The dow up 8 4 points. Tenyear treasury note did rise over the weekend to cross above 2. 4 , but slipped a bit yesterday. It is below that level still today, 2. 38 on the tenyear. Look at whats going on arou around the globe ahsia is mixed but mostly lower. The south korean kospi is highe
Heading our way in an hour and crude inventories not long after that new record at the open but the selloff for tech stocks continues to weigh on the nasdaq and s p. Jack ma, the push to brick and mortar and why jeff bezos struggled in the Chinese Market. A turning point for snap, a key 2018 outlook upgrade shares are up in the premarket. Futures are pointing to a higher open after the record setting day for the dow and s p offset by the sell offin Technology Microsoft and amazon had the biggest impact on the nasdaq and optimism surrounding tax reform. We did manage to get the vote in the house to go to conference with a little bit of drama last night. Jim, you said the reversal yesterday, doesnt bode well well, look, i was doing my show and you posted a little squib about reversal and i did not realize how serious reversal was obviously its more serious for the but i find reversals catch people out of position when youre out of position, you scramble and start reaching for things you
Gop leaders delete a house vote for a shortterm budget bill to buy more time to sell divisions to avert a government shutdown. By leaders plan to vote tomorrow. Federal funding runs out midnight on friday. The bill would keep agencies open until december 22. Native american leaders are suing to block President Trumps decision to cut utahs National Monument by about 85 . The coalition of five tribes argue u. S. President s can only designate National Monuments, not downsize them. Trump also plans to shrink the Grand Staircase escalante monument. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Emily im emily chang, and this is Bloomberg Technology. Coming up, disney takes the lead come emerging as a front runner to acquire the bulk of 20 of a boxs media empire century foxs media empire. All bets are on. Early bitcoin investor offers his take as the worlds Biggest Exchange operators prepared to begin trading futu
Good buy into early end and maybe beyond. But lets start with todays rally. Joining our exchange today is jim kahn, sarge gilfoy, and Rick Santelli at the cme. Rick, im going to start with you if i may ahead of the fed meeting tomorrow weve got a bit of a stealth rally in the pound the pound. The dollar over the last week or so including a little bit today how many rate hikes over the next 13 months are priced in you know, i dont know that much of the dollar activity that were seeing today is necessarily predicated on what investors think about 2018 whether its two, three, some are saying four. I really think its more of a function of the u. S. Market kind of bucking the trends of europe, the spreads of our treasuries especially the long end is distancing itself from the yields of the long end of europe and as that occurs, if you were to put that on a chart, the differential at 210 basis points seems to be one of the factors that could be dragging the dollar up a bit. More in a yearend
S p futures up by four points. Eurodollar a little bit weaker. The dollar is finally getting a rally. The first time in about five days. 10 year yield pretty much goes nowhere. We had the big selloff all across the bond market. By. 5 . The 10 year breakeven rate is up over 2 . Level it crossed that level just yesterday into the fed meeting. It looks like the market is starting to price in more future inflation. I am sure we will understand it all after we read those minutes. Lets get a on whats making headlines from outside the business world. Emma chandra is here. President trump has a warning for north koreas leader kim jongun. The president tweeted that he has a much bigger and more powerful Nuclear Button. He was responding to kims warning that the Nuclear Button is always on my desk. Theres been a major diplomatic right through between the two koreas. North korea called south korea on a hotline that hasnt been used in years. In germany the Unemployment Rate has fallen to a record