Its now been 53 days since the president announced the phase one deal with china was agreed and just waiting to be inked thats 53 days and counting. Joining us for the full first hour of the show, Wealth Management ceo josh, did i pronounce it correctly nailed it todayly rsi, people toss around these terms, overbought, oversold they use them qualitatively. The market went up a lot its overbought. Theres a technical definition to things like being overbought. By any stretch of any way you want to look at it, we were overbought on something called rsi. S p 500 we hit 75, the most overbought weve been technically since january of 2018 and we know what happened after that a very swift 17 selloff. So its not shocking that you have big down 400point day in the dow. The big takeaway for me, to answer your question, is the biggest mistake you can make is go to these extremes of bullishness, bearishness, based on each days action today is the mirror image of yesterday, total reverse tomorrow co
Thats likely to be down about. 33 . Lets see how they close. Lets get to hong kong because today, we see chinas clout. The general manager for the Houston Rockets, basketball team, tweeted support for hong kong. Beijing immediately objected very strongly. The tweet was immediately withdrawn. Lots of criticism for the nba this morning. They caved to the communists, to preserve basketballs appeal in china. Hong kong itself, im going to say its virtually shut down as violent protests returned over the weekend. Next case, what have we got for you . Joe biden. He says he will beat the president like a drum, end quote. The General Motors strike takes a rather ominous turn. And amid very visible security, joker hits the theaters and wins big. Varney company is about to begin. Stuart you know, this could be the stock of the day, maybe the week, maybe the month. General motors, down 1 . Its back to 34 a share. When the strike started, it was 37. Now, talks with United Auto Workers union broke d
Consumers and businesses cut spending and asked its fell. That is a set of that is a setback for shinzo abe. Germanys chancellor Angela Merkel is saying she is willing to consider debt relief degrees. She made her first Public Comments since area finance ministers endorsed bailout for greece. She is confident the imf will join bailout. There may be some leeway on the Interest Rates the greeks are paying on their debt. Searchers in indonesia have found the wreckage of a commercial prop just that appeared to have crashed prop jet that appeared to have crashed into a mountain. There were 54 people on board. And lost contact with the air Traffic Control while flying in cloudy weather. He is elected president , donald trump says he would deport all undocumented immigrants from the u. S. The republican president ial candidate laid out his position on immigration in a fourpage document yesterday. He appeared on meet the press. Donald trump we have to a whole new set of standards. When people
Im wilfred frost, sara is off today. Lets get to the Global Market picture. This comes off another record close for the dow yesterday that was up 0. 7 . The s p and the nasdaq were up just slightly. Banks did well as yields rose. That record close and big jump for the dow flattered by one or two individual stock movers. The likes of caterpillar and 3m up significantly and the price weighting nature of the dow meant it had more of a significant gain than the dow or nasdaq gains for all three indexes. Slight gains this morning for the dow, the s p and nasdaq just lower. Tenyear treasury note, we hit a high of 2. 424 yesterday were at 2. 44. Fractionally love that level that will help the likes of the financials again today on the wall street agenda, a pair of economic reports and plenty of earnings september durable goods earnings are out at 8 30 a. M. , followed by september new home sales at 10 00 a. M. Boeing, cocacola, glaxosmithkline, Northrop Grumman will report before the open as
Rezolute, Inc. (NASDAQ:RZLT – Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 814,600 shares, a growth of 162.0% from the May 15th total of 310,900 shares. Based on an average daily trading volume, of 571,100 shares, […]