The dow plunging through. S p 50 plunging 3. 27 . Nasdaq diving 3. 03 . Thats the worst start for the dow ever. You can go back to 1928. Dow has never been down more than 5 until now. It is the worst trading days for the s p as well at the beginning of the year. Throughout tonights show im going to talk about the proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall
Nasdaq diving 3. 03 . Thats the worst start for the dow ever. You can go back to 1928. Dow has never been down more than 5 until now. It is the worst trading days for the s p as well at the beginning of the year. Throughout tonights show im going to talk about the proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about t
But not a huge reaction. Wehas been fascinating what saw this week with a big selloff in u. S. Stocks. You have some green on your screen today. It is definitely not increasing losses we have seen, but does reflect relief over the jobs report. Some concern being expressed by investors by the lack of weight growth. Remember tech was one of the worst performers yesterday . It is coming back today. Pretty broadbased rally with notable exception of energy. Looks like Oil Prices Remain stubbornly resistant to the positive news on the jobs front. Commodities up. While prices moving lower. Prices moving lower. Still concern about volatility in china. Higherfutures are bouncing back from losses recently. We have seen the buying of gold recently. Interesting on treasuries. The yield not budging a whole lot either. Julie i won a to look at the interestrate outlook as well. I wanted to look at the interestrate outlook as well. Yield. E the 10 year a little bit of a bump up and yelled. The twoyear
Proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about to pull the trigger on rate hike but they thought better of it. Now then theyre buying. They have chosen to make one input matter more than any other rates and thats the only input. Its not that noise is plummeting and easing inflation. Its that hiring is good which
I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its silar tthe destructe force that dcended un our marketlast augt. Backhen ifou recl thfed was out pull e triggeon ra hikbut they tught betterf it. Now th tyreuyin they he chos to ke one input tter me than a oth inheir disio to rae rateand that thenly inpu plumting andasing flatn. Itshat hiring is od which meanif we get a robust employment number tomorrow morning we could finourselve do subantially becauset wod mean more talk thathe fed must ti