Signing. Breaking even on bare sterns all of that as Worldwide Exchange begins right now good morning and happy boxing day welcome to the show. After having the Christmas Holiday off, stock futures are indicating the dow may open a little bit more. Still 31 points on the upside to the dow. S p up by about four points. We want to turn attentions briefly to technology. The nasdaq composite has done something for the First Time Since the. Com bubble era locking in the ninth consecutive close the first time it has happened since its ending days. The bond markets showing some signs of movement. The tenyear note yield ticking slightly lower the twoyear yield 1. 67 we are still trading those bonds. Lets go to worldwide movements. Take a look at whats happening overall. Up about 1 . The hang seng in hong kong is closed today the nikkei is up one half of 1 . Markets in australia are closed in observance of boxing day. Lets look at some other top stories today. New this morning, china says it is
Key read on manufacturing in the next hour. Plus, streaming wars, apple launching its tv plus platform today. It is the latest volley in the original content battle between media and tech giants. And pinterest plummeting, losing a third of its value since peaking in august. And the Growth Strategy for starbucks, Kevin Johnson will join us first on cnbc this hour. Lets get to the jobs number, october payrolls well above expectations at 128k despite the gm strike. Unemployment goes down goes up to 3. 6. Wage growth 3 from a year ago jim, hard to find things to quibble about this month im going to come back and say youre going to have a the beginning of cracks in manufacturing. There is still two economies the twothirds of the economy that is consumer is doing very well the other third is not doing well and we can i dont know how long we can go with only twothirds i think pretty long. But when you if if they shut down boeing 737 max, youll see very different numbers i just think these num
A trillion Dollar Company again. There is your round number. Romaine real estate and consumer staples. Youre going to bet on that or on apple . Littleht, lets dive a deeper with our markets reporters. Abigail, what are you watching . Wacky you called it earlier. I would agree. This is slightly risk off. This is a quarterly chart. Yellow is gold, white treasury futures, and those are bonds, and then in purple, we are looking at emini futures, and the main diversions point when the fed lowered rates back on july 31, old shot higher, treasuries took off. That is pretty much in play. Old is higher. Treasuries higher, outperforming the nasdaq 100 gold is higher, treasuries higher, outperforming the nasdaq 100. The First Quarter of the year when you have divergence like that among risk assets, you really want to think about it, especially considering last september, saira, with the nasdaq with its first monthly down quarter ahead of all of that volatility. The went to continue with quarter,
Cautious, they will move out of less liquid risk assets such as oil first. We are seeing it here for the official correction in seven days for oil. As for that ism print and why investors may be so concerned that could be bearish for stocks and they selling stocks are rapidly, take a look at this chart in the bloomberg going back five years. In blue, the s p 500, the eisai manufacturing. We are seeing it as the weakest since 2016. Stocks levitating toward those alltime highs. Not able to move past. Take a look at manufacturing. The lowest level in 10 years. Investors may think there is going to be a meeting between these lines, which could be bearish for stocks. Some investors betting on the idea of 2700. All sectors and most stocks are joining in. Lets take a look at some of the biggest laggards on the day. We will see apple, alphabetic, highquality names being sold off. Also the materials and industrial space. Confirming all of this, and is for haven bonds. For haven bonds. The yenyi
Whether jay powell will cut Interest Rates further. And big earnings on deck, disney and wynn after the bell joining us courtney. Tell us how youve navigated the last 24 hours. You know, its been really, really interesting when you look at where the vix has been in august, were hitting 25 i think in july we ended around 12 that volatility is incredibly interesting. For someone like me thats looking to buy positions on the dip that i think are quality positions to buy and hold, it was a really good time in my opinion to do that interestingly enough on our desk at Loop Capital Markets we saw a tremendous amount of low, probably in the overnight markets, probably the most active weve seen all year. Buying or selling interestingly enough, buying. Some very balanced program bus we also saw a number of our fundamental clients buying in developed markets and a little bit of selling or less buying, well say, in some of the emerging markets so were starting to see some of that flight to quality