Even though officials did not exclude the bond buying thing extended. That is what you need to know. David continuing on the top story about the ecb. A many tempora cant a mini tenter hampshire a mini temper tantrum. Gradually tapering away from quantitative easing. We are joined by paul gordon, our editor responsible for covering Central Banks, and guy johnson in our European Headquarters in london. Paul guy, im sorry. I want to go to you. Tell us what the reaction was in the markets over there. Guy the Market Reaction was fairly fierce, to the honest. May of 2013. Be of the market was spooked by thats would have a ecb taper when the Current Program winds down. But the rational heads are working their way through this. Of course the ecb is thinking about a plan for when he needs to wind down, but if you took a look at the latest data, the expectations, in the ecb, the ecb downgrading its projections. The eurodollar rate, but it did not pick up inflation. It is not expecting to meet it
Territory. The dow almost neutral there. 3 protest nasdaq down. 3 . If you look at the intraday chart for the s p 500, you can see the big screens there. Below is that 2107. About 15 points away from the record high back in may of last year. Down to 2 . All is you can see the individual. Ectors are declining thanks profits could be heard and treasury yields are sinking. Materials are something. 6 . Copper futures are sinking to a fourmonth low. Hit, wheret getting stay in a month. Down from the 10month high. Trading above 50, though. Financials seeing getting hit because of that. Want to look at the individual stocks. Wells fargo, bank of america my jpmorgan, down. 6 . Wells fargo leading the declines. Expectations of profits can get head. Does that mean we are seeing the fear trade coming back . Shery gold is surging. 8 . We are seeing a trade at 1272 but we are hearing from a survey, 39 of respondents 1400g that gold may exceed by the end of this year. Volatility is searching for the
To do. One fourth of that will be spending, but we dont know the timeframe. Jon there might be a consensus among economists, there is no consensus in this market right now. David im looking forward to that. We will speak to a man who knows the fed very well. Alan greenspan will be joining us in an exclusive interview. We begin with breaking news. Ford earnings just crossing the wire. The Company Making . 52 a share. Estimates were for . 60. Revenue,of actual coming in a bit stronger at 36. 9 billion. The company says it is committed profit. 6 pretax it it does warn that could be at risk even if u. S. Sales of its suvs pick up. We always want to look at pickups. They missed on their earnings per share but were up yearoveryear. Beat. And revenue did yearoveryear and quarter on quarter. Stay with us for that. Mark fields will join us shortly. We want to hit on that interview. Jon Credit Suisse earnings coming through, the swiss bank posting a surprise profit last order. The turnaround pla
First, markets close in two hours. Julie hyman has been watching the movement. Julie we saw a pullback from those record levels yesterday. , sort ofower volume feels like a sideways trading pattern. The nasdaq is down. 5 . Volume of 14 versus the 20 day average. You see the other groups seeing defensiveume groups seeing that pullback in particular. What is putting pressure on the s p 500 . It has a lot to do with earnings. Netflix beating estimates, but subscriber growth trailed estimates. Philip morrison seeing the pinch and the stronger dollar microsoft reports its numbers after the bell. Point wise committees are the three biggest drags. In terms of point winners, mitigating the drop we are seeing today, we have johnson and johnson after that beat estimates, raised its fullyear forecast. Because arising, linked to whats going on with mcdonalds japan for the company is selling pokemon toys. Facebook shares trading a bit higher as well. That is the balancing act today. Right now, the
Either direction on. That is a oneweek, thank you. A very quiet week. Those could be one day moves. This is very little happening in the market. Green. Daq turning stocks with the second weekly loss since june. Some of the things we have been talking about continue. Basis point move and semiconductors, led by a Applied Materials and micron. Utilities and telecom stocks, the only real group moving here, and they are moving downward. Stock bubblevalue is starting to let some air and out. One of the big sectors that lost were yield sensitive areas. Here is a onemonth chart of the u. S. 10 year yield. U. S. 10 year yields closing out today at the highest level since august. Thelet i am focusing on pound share. Pound. Yuan there is a deadline to keep in mind. Germany and france are preparing for elections. Also, oil, a onemonth chart of oil, early august, bear market, ticking higher today. August, back for in a bull market, so unimpressive recovery. Scarlet a bull market within the bear mar