The dollar index is a strengthening a little bit. The dxy is above 97 today. Decisionmaking the 10 year yield at 70 basis points. Crude oil not going anywhere today. 36. 37 a barrel. Have seen an interesting two days. Equities having their worst day since march and much like march, any day we saw declines of 5 or more, we followed that with a rebound today. A lot of this we have seen play out in the session so far. I want to note that the european closed a few hours ago, we saw stocks fall below yesterday indicate investors taking some a risk off the table as we head into the weekend. See if a similar phenomenon happens at the u. S. Close. He said he is watching very carefully to see the gains on friday and again into monday. Speaking of risk and the willingness to take it, something we have been talking about is the willingness of retail investors. Of thosento some cheaper areas of the market like travel. That has led them to outperform hedge funds. They are more heavily position towa
As well as up. Romaine you really have to go back to the lows we were in in march. What was an improbable rally of 40 less on the major indices, even with the big selloff, if anyone used february and march as an entry point, you are still up 20 . Taylor in the last hour seeing this final hour of trading was crucial. To see yesterdays big selloff was or something indicative of more selling to come. This last crucial hour, really important to show us where sentiment is. Speaking of sentiment, look at this chart. I wanted to give you an update because we talked about the record low ratio on the put call back to the earliest this week back in nine years back to 2011. We got an update, the ratio is right in line with the one year average. Fear would be higher if the put call ratio was higher. You are not getting the type of fear perhaps we were starting to see yesterday. Lets take a look at the individual stocks that were moving, lululemon, i always want to see what is moving to the downsid
Escape the heat advisory. The bay area as well, san mateo and palo alto. The big valley will see the big heat. We will get hot and it will get hotter. And ill see you back in a few minutes with specifics. Thank you. We want to go to christian in San Francisco where people are outside enjoying the warm weather on this memorial day. What is it like there . Go julie take a look around me you can see blue skies and even the foggiest parts of the city got sun today. The message from the city is enjoy but enjoy it safely. I can tell you right now it is still very busy throughout San Francisco. We will try to lean over here just a little bit and show you what some of the activity looks around town. It is in fact a Beautiful Day around town. There are lots of folks around San Francisco on bikes, walking and going out to various parks and beaches around town, trying to enjoy the day. After months of socially isolating San Franciscos, they went flooding out of their homes into parks and beaches
And that would be happening at the same time there is a 22 drop in overall state income to date 36 million americans have filed for unemployment today governor newsome presented his proposed version of the state budget axing 19 billion from his original spending plan in january as the states economy struggles amid the coronavirus the billion budget keeps some programs such as boosting the minimum wage and maintaining the states earned income tax credit for working families along with continued commitments to health and Public Safety. The governor prepared to throw out billion in Program Expansions and new proposals, including extending state Health Insurance too undocumented seniors, nothing breaks my heart more then making budget cuts behind every category is a dream that is either differ. In some case. A dream that is denied. The governor also proposed to cut state worker pay including Health Care Workers and Public Safety personnel by 10 . His own salaries also included for now news
Set them back years as anything like it was in 2008 and its going to be horrible. I mean we lost 33 thousands of teachers for students, California Teachers Association president ito be boyd says the cuts will result in layoffs furloughs an increased class sizes ultimately the students will suffer any loss to our classrooms who are for students to benefit. Well be devastation. The governors proposed cuts include a 10 reduction in the States School funding formula and a 10 cut to both the usi and California State University systems. The School Funding is less than what the governor and vision earlier this year, but it may be enough to maintain current Academic Year services, the proposal, however is still a significant setback for schools everyone is going to feel the pain and its unfortunate that. Our students our children that we actually educate have to feel that pain again hasnt been that long ago that occurred before. Governor newsome says hes trying to soften the blow and avoid wha