We expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Fourth, do we have a commodity bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from increased demand which is what we like but from reduced supply so what were going to do is give it a check mark. Box number five, oil needs to stop going down. The relentless slide must end. Hmm. We had a big inventory increase today and it didnt get hammered, it went higher. New pattern. It looks like oil stocks have stabilized. Im feeling good crude may have bottom. I dont expect a big rally the market but the down side seems to be quantified so i am saying check. Six, we need to see some improvement in the geopolitical scene. Here we have a definitive check. North korea started this, no
As long as we dont get a smoking hot employment number on friday. This is good enough for government work. You know what im doing . Im checking it off. Two, we need some resolution to the political uncertainty. The last time we went down the list, we had no certainty in either party. After last night, barring some extreme, its hillary versus the donald. Now we can create portfolios for either eventuality. Maybe ensuring our portfolio for some of them. I say check third, we need china to get better. Its gotten worse but the frame index has been creeping up slowly and theres be a big Chinese Parliament meeting where we expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from incre
Background that showed a selloff for wall and broad. In asia and europe signs were the economy is softening. Whatever money was intended to go to stocks found a safe haven in treasury instruments. It went on to europe and went on to here. The feeling was maybe we are look at a global slowdown that showed the first three months of the year in this country were barely showing any movement at all. Im positive that is the backdrop of voting in indiana for a reason. If that is the environment here in which things are slowing down. The betting seems to be Interest Rates are a good place to park. Treasury securities safe and boring as they might be are deemed a good place to put cash. What does it say to candidates and how they might have to dip into these realities. Hillary clinton is using the improving economy for the wind at her back. What if the lower Interest Rates are signaling something much worse . We are following the twin developments as x were coast to coast on this same coverage.
Announcement come thursday, thats a twoday meeting, wednesday and thursday. You can see ahead of that the dow futures look like theyre up ahead 36 points. S p up by 4, nasdaq up by 15. We have a couple of big market stories were watching this morning. Disappointing Economic Data. Fixed Asset Investment industrial producing falling short of estimates. Retail sales did come in stronger than expected. Shanghai composite closing down nearly 3 . Volatile session shows that the index is dropping as much as 7 at one point. In other news out of china, government announcing that excuse me, government officials announcing that beijing will work to reform its own huge state owned enterprises and introduce mixed ownership. And in europe today interior ministers are meeting to talk about the migrant crisis and how countries can share new arrivals. Germany temporarily introducing Border Controls saying the move is urgently needed for reasons of security and to curb the large number of migrants. They
Global commodities crush. And tracking the big storm. Hurricane Joaquin Phoenix may miss the east coast. Were not out of the roads yet. Stocks wiping out the big losses there this morning. The dow was down as much as 258 points earlier. Now its up by 44. The s p by 5. Lets get more. Whats behind the turnaround, bob . Initially, the trades cant decide if bad news is good news again. I want to show you what happened. Take a look at the s p 500. We dropped more than 20 points on the future. We gapped down at the open for the s p 500. I think europeans look to the u. S. For growth help, they initially thought that this might be good news. It wasnt. They, too, also sold. But then, things turned around. If you put up the s p intraday, we had a series of strong rallies about 10 15 or so. Every ten or 15 mine out minu, spikes. You cant see the volume here. The dollar is notably weaker. Thats a big help to global multinationals. E emerson, dover. Inger solrand. Were seeing the Building Products