Guests today. Angela shes going to be talking credit factors affecting the stock market in this environment. Jack lew is going to reveal if china has made any progress or the market is more vulnerable to selloffs. Thats another bloomberg exclusive. Lets check in with our team for indepth coverage. Michael mckee is on janet yellen watch. Anna edwards is talking about brings it. Amanda kern is with the start of u. S. china talks. Janet yellen will be speaking this afternoon. Lets get the latest with michael mckee. What you going to be looking for most importantly . Mike since the jobs report, markets have pushed any fed Movement Packet to december. Thats gotten some blowback from fed voters. And bostonnd fed says a rate hike is still on the table. We want to know if she is on the same page and of so for when. She may not be as dovish as a lot of people think. She may take june off the table. She wants to preserve her options for july. She can go back in time to the 1990s when the economy
This is the first declined so far this week. Six of 10 major indices were lower, financials and cyclical groups were the worst. We started lower and did not close in the green, but finishing well off the lows to continue this trend of a bid supporting the markets. Alix materials and banks were the two were sectors. Take a look at what happened to them today. It was a brutal morning, near a 10 month high, kicked down, and claude back to neutral. Back to neutral. You had that great treasury rally that put pressure on financials. Joe you are never going to onieve this, but yields Government Debt are lower once again today. There is the 10 year yield. Every day. This is my favorite part of the day when i announced the new lower yields. Falling below 1. 7 for 10 year yields today. Grinding lower there. Same in the u. K. , brandnew low there. , but we can get more of them tomorrow. Scarlet take a look at the dollar recovering, but not against the kiwi. The kiwi the strongest in a year , so w
We are halfway into the trading day. Lets head to the markets desk were julie hyman has the latest. Julie after the big selloff on friday, its interesting to see a bounce back. It did not happen in european trading, but it has been gaining steam since the open with the nasdaq consistently leading and now up 8 10 of 1 . On friday, we broke that range bound street that the s p 500 had been on for a couple of months. The vix had been very low for quite some time. Volatility spiked, although it is coming back down today. Btv 3447. At g this looks at a measure of the ranges we have seen. This is the s p 500 with the 50 day moving average. And below the moving average on friday. This is despite of a little bit of a pop today. This is the streak that we saw with this range bound street for the s p 500 again below it on friday. Even though we are seeing a bounce, we are still not above the bounds of that range as of yet. Couple individual stocks to watch today samsung fell in asian trading dow
It is more that it is a resumption of the rally that we had seen originally when janet yellen gave her dovish message. Dissuaded from that view by the fed speakers in the interim who were more hawkish. The double stone is back again and even as alex points out we are not that much up across the board we should point out we are off the highs of the session for the three major averages as well. The two day rally for the major averages is relatively substantial. It began yesterday after we heard janet yellen speaking it in front of the Economic Club of new york. What we have seen is a gain of 1. 4 . On that basis, not anything to sort of ignore. It also means the s p is once again higher on the year. It also means we have seen the market cap recovery of the u. S. 1 trillion since february 11. If you add on todays gain another 200 billion or so. That is the size of the rebound we have seen. The old leader coming back in favor. The sang stocks, whatever you want to call it now. Alking about
Strategist. Oil moving higher within the last half an hour or so on a report that saudi arabia could be looking at a big loan. Raises questions about the state of the oil markets most important player and whether crude really found a bottom. That debate begins now. Whats the case here. Have we found a bottom . Yeah. Thats a question that you can maybe say if we have you think the market is going to move higher or are we going to go right back down. 26 level i would say if thats not the bottom we have come very very close to what i would perceive to be the bottom. Can we get above this range . Its very much the volatility index and the ovx. Can they break through various ranges . We finally broke below the levels and after the huge run yesterday why dont we have more of a pull back today . Were not seeing it because people are looking back toward 35. Pushing toward 35. That makes it very very interesting a and loi otolaryngology folks will get more bullish because of it. Is now the time