Joining us for the entire hour is dan nathan, founder of risk reversal advisers. Welcome back to you. Sara. So theres something youre looking at about the s p 3000 level and fed meetings if you go pack to july 31st, the last time that the fed met, they cut a quarter basis points Interest Rates the first cut in ten years and the stock market was above 3,000. And and it wasnt until the trump tweet the next day that we broke down and stayed down all of augusts here we are now, expectations are for another cut, and it seems like the s p has really paused again at the same level, about 3,000. Weve got lots to discuss with dan, but lets drill down on the big stories were watching today bob pisani is tracking the big reversal leslie picker has details. Mike santoli has a special market dashboard ahead of fedexs earnings which hit after the bell and well have for you here on closing bell. A big day in oil. Oil dropped right after the open on a reuters story that saudis oil output would be full
The skies after such a great start to the morning 70s in San Francisco and oakland wall upper 80s in san jose and Still Holding on the 90s for inland areas, im talking your 4 zone forecast to just around the rner,ebecca. All right, its been a busy Tuesday Morning commute around the bay area and its been quite busy here of the bay bridge toll plaza so if youre going to be heading into San Francisco shortly. Youre going to have to wait and some of these cash paying lanes thats for sure if you have fast track, better news for you, but once you get on to the bridge. It is going to be sluggish across the entire upper deck into San Francisco coming out of the maze to fremont street. A total drive time right 14 minutes for your westbound 80 commute. Whats been 92 it has been packed here. It says just slow rolling you can see it. A 27 minutes from the east bay over to the peninsula. So far on of the san mateo bridge trying to connect with one oh one in foster city. Thanks rebecca 9 oh one and
The air max one sneaker is now selling for on one specific secondary market that if youve got a teen son or daughter, nyo know what this is. Its moving as we speak. Meanwhile, boeing moving as well, still dealing with its own controversies at this hour as delays and backlogs of its 737 max jet could soon be cutting into profits. American air carriers still feeling the effects of the grounding of that plane. In fact, they are making changes right now. Wall street journal aviation reporter has broken multiple stories on this. Hes here in a fox business exclusive to give you boeings latest flight plans. Facebook facing its own challenges, with fake cancer cure ads and the scary situation at its headquarters during this hour yesterday. But its Cryptocurrency Libra is full steam ahead. We have one of the key links in the Facebook Libra blockchain. The cofounder and president of a Company Called anchorage. Who and what are they and why is everybody talking about them as one of the strongest
Well hitting all of these records think about it, stocks have indeed come very far very fast were right on the cusp of multiple rate hikes. There was a terrorist attack in times square weve got a special prosecutor investigating the white house and last week we almost had a Government Shutdown that was only temporarily averted, yet stocks, theyre in great shape the dow gaining 57 points, smpt advancing 0. 32 . Led by, you guessed it, apple. Look, these are not easy questions, frankly, at this point. When i talk to people, far more of them want to get out of this market rather than get it. It always pains me, but thats what they want to for. Many of them genuinely believe we are being led right off a cliff. Like obvious little i think they may be mistaken, though, im going to give you a sense why. We can start with a bigger picture. Thats the socalled macro first of all, the whole world is on fire here and all of these u. S. Specific worries pail in comparison to the synchronized Global
This morning of course, our last trading day of the year. Speaking of 2017, it has been a blowout year for technology. The nasdaq gaining roughly 30 the index on pace for its sixth straight positive year in a row, the fifth time since 1980. Bertha coombs is at the nasdaq and she has more for us. Bertha david, as mark twain put it, history doesnt repeat, but it often rhymes, and thats certainly true with the nasdaq 100. The big caps up for the ninth Straight Year in a row, the longest annual streak for the index since the big tech breakout of the 1990s. These four mega caps, you know them, apple, microsoft, amazon, theyve made the biggest impact in terms of the upside gains for the s p 500, overall market, and when you add in alphabet, they actually account for twothirds of the nasdaq 100s 15point gain this year microsoft benefiting from its shift to Cloud Technologies is up for the sixth Straight Year, thats its best straight winning streak since the launch of windows in the mid 90s, a