Rally . The market really is our only story today. We start as we often do with sue herrera. Hi sue. Hi ty. Another extremely volatile day on the street. Stocks deepen the red. We touched down 300 points a few moments ago. If you take a look at from yesterday, the dow is now down more than 550 points since tuesdays session high. Lets check everything, and all the numbers for you at this point. The Dow Jones Industrial average off 265 points. The transportation average is also sharply lower on the trading session. Transports are down 113. The yield on the tenyear note well below 2 right now at 1. 804 . The 30year auction, were going to get those results in just a few moments. Lets run through two sectors that are really hurting today. Big energy. You can see deep in the red on a percentage basis. Exxonmobil chevron, Conco Phillips all to the down side. The financials also getting hit hard in todays trading session. Goldman saks Jp Morgan Bank of america, citigroup, wells fargo all down
Forecast by Goldman Sachs today cutting its forecast on the price and that added some of the momentum there, and by the way, were still getting a lot of photographs from you folks around the country of what youre paying for gasoline. I saw the lowest price today coming in once again from oklahoma city. Theyre paying 1. 55 right now. Not too shabby. And so the debate about whether this should ultimately be a good thing for the u. S. Committee continues. Yes, it does. Jo and meanwhile, if you are a regular watcher of cnbc theres a good chance this man wants to hilt you with a massive tax hike. Top democrat Chris Van Hollen joins us to explain his plan for wall street and high earners to fund a jind middle class tax cut. Theres always took he may run for governor of maryland following martin omalley. We have two ceos of mega Drug Companies joining us. The heads of biogen and merck checking in from the Jpmorgan Health care conference. Would you have been seeing megs wonderful interviews al
Treatment. Today was one of those days. At the open the averages soared 1. 5 tonal selloff viciously for the rest of the session. Dow closing down 27 and s p declining. Nasdaq dipping as well. It was a brutal ugly and irrational move. Dow was down 400 from where it opened. First off accept the fact this is a different type of market than we have become used to. The averages higher in general, all the way up to this level. It has been a healthy advance. During that period individual stocks or segments would guyerate and there were days stocks would switch directions rare ones switched directions midsession. But only if Something Big or bad or fabulous happened overseas or in washington. One thing was certain. We would almost never have both ectasay and agony happening without anything serious happen to make a switch from one mood to another. Today we saw some extreme bipo layerity. We begin the twice weekly sessions along with a cocktail of medication juries mood stabilizers and antidep
Several big names set to report earnings this week including the likes of jp morgan alcoa, and city. Why it could lead stocks higher. Plus a rough day for tiffany. Why disappointing holiday sales are weighing bigtime on that luxury brand. And merger monday has two very big deals in the pharma sector. What big names are teaming up. First up though after a volatile week for stocks, the markets are bracing for the beginning of earnings season. Alcoa set to report after the bell tonight. Oil continues to fall after seven straight weeks in declines. Goldman slashing its threemonth forecast for brent from 80 to 42 and wti from 70 down to 41. The firm says it needs to stay near 40 for most of the year. Half of this year before it would keep capital sidelined. Actually theyve got a great count showing that its actually falling faster than it has in almost every other oil bear market. Well, it has to but at the same time when we keep seeing these Production Growth numbers that are out of these
Its another big day today of u. S. Earnings. Alibaba and ford all report before the market open. All eyes will be on google and amazon. Of course people are still talking about the fed press release from yesterday. The Federal Reserve not showing its hand that its wavering over whether to hike rates this year. In its policy statement the fed says it will still be patient. That word patient is still there in raising rates and is upbeat on the u. S. Economy setting solid growth and strong job gains. The fed says that while pressures are holding down inflation, mainly oil prices those are intensifying. Its optimistic prices will move back toward its 2 target. Wilfred . Thanks. Lets look in in the markets and were in the red today and really its been risk off sentiment thats transferred through different time zones and no particular region has been able to buck that trend over the last 48 hours. You can see the stoxx 600 down. 7 and its been a really steady decline throughout the course of