As we can see the renewed theme of rotation, rotation out of technology and into financials and industrials, for example, evidence in the dow. S p 500 in the middle, up. 5 , so benefiting by the surge we have seen in stocks related to the tax cuts passed over the weekend. Another way to look at the weakness we have seen with technology in this chart, looking at the percentage of members of Different Industries with 14 day relative strength index above 70. In other words, are we seeing them overbought at these levels . Look at the s p 500 in blue, the percentage going up even as techs have been going down. Indicator forum this group relative to the broader market, that it has been weakening versus the broader market. On the subject of rotation, if you look at some of the weakest names today, they are in the top 10 performers in the s p 500 this year. Align technology, maker of the invisible line braces alternative, we have ma icron, and we also have lam, Semiconductor Makers that have d
Vengery link that does it for squawk on the street. Lets send it to squawk alley. Over to you. Thanks. 11 00 a. M. On wall street and squawk alley is live welcome to squawk alley. Im Carl Quintanilla good to have you deidra, sarah is off joining suss partner gnb capital and the founder of earn. Com. Good morning to you both over the last five trading days, tech stocks, which were leading the markets higher for the entire year have turned lower. Today the nasdaq is slightly positive this rotation isnt just on wall street a number of articles in the past few days talking about Venture Capital funding drying up, or at least having peaked in the seed round. Called the hot money party tends to move around facebook ipo run up subsequently in 2013, 2014, big in seed a, thats where the capital went. The hot party moved in 2015, 2016 it went unicorn hunting, saw a lot in ipo, labor deals that hot party money shifted in 2017 very clearly to initial coin offerings. Thats where the action is today
The latest coming up as each candidate makes a lastditch effort to drum up support. Terry new york. Homeland security revealed the bangladeshi man suspected detonating a pipe on the new york citys Port Authority terminal into the united taste of chain migration. The white house respond to the new saying it would not have happened under President TrumpS Immigration policy. The latest from the scene in the new headache for uber as the redshirted Service Comes under fire for search pricing during this terrifying ordeal yesterday. Features a quite disparate markets indicating mx opening with dow industrials points. S p 500 positive but the nasdaq negative by a point. Your major indices similar story of the u2 of gains across the board. Ft 100 of the quarter of a percent. The acf a quarter of a percent and the dax is higher by a fraction. Asia overnight markets are across the board. China shanghai composite down one and a quarter . Beware of bitcoin. The fcc warning that investors face a ri
Related. If you know this person in this video, police and the folks who gather here hoping that youll give police a call right away. For now, live at casa ruby in the petworth neighborhood, matt ackland fox5 local news. Major changes to how youll access the internet and what you might pay for it in the future. Today the fcc voted to end socalled Net Neutrality capping off a long fight over how the changes could empower Service Providers to charge customers more down the road. Tom fitzgerald is live at fcc headquarters with what happened and what it means from here on out. Fitz. Reporter jim, good evening. At one point protesters put flowers outside of the fcc headquarters in what they call a funeral for the internet. Now, understand the internet is not dying but what the fcc did today was vote to kill that obama era rule called Net Neutrality. Now, you probably this. What is neutrality. Well, basically what it means is this rule as it currently stands means that Internet Companies can
Officials lifted expectations yesterday in proposed tax cut. The central bank raising rates for the third time this year and in the final News Conference is Federal Reserve chair gina gallant says the u. S. Economy is performing well. She also targeted bitcoin concrete to occur in the highly speculative asset, but not enough to cause a meltdown. More coming up this morning. Futures look like its indicating a market continued momentums this morning. The dow industrial up 30 points at nasdaq, s p 500 higher. Investors waiting on the European Central bank decision. Mario draghi will bring you those headlines. Markets are down across the board a quarter of a percent lower in half a percent lower in germany and the dax index. Lower across the board, as you can see the kospi indexed on one half of 1 . The latest have a smiley accuse by the network of his misconduct allegations. Details at smiley intends to fight back. Way more to fight on. Still refusing to concede following doug jones shock