The russell 2000 is now in correction territory down 10 from the july high down about 1. 1 on the trading session. That sent money down in the bond market but it is significant to note the yield is 2. 41 . Transportation average down almost 200 points to the down side. A bit of a bounce in the crude market perhaps not a surprise how it was crushed yesterday. Up about half a percent on brent. And if you were ahead of the drop today and you bought inverse etfs you are doing pretty darn well. Lets take a look at that board. Psq is inverse of the nasdaq 100 and shorting mid caps you buy myy. It sounds like morse code. It is another language for a lot of investors. When you talk about the inverse etfs these outperform because they give positive returns when the market goes down. It is a vehicle for traders. When you talk about right now if you look at the overall picture for stocks those etfs are on the upside. This trade today you noted about the dow industrials. We are at session lows dow
And new data on how bad the breach was at jp morgan. It was a computer hacking thing. It is a very, very large number. First to sue. We have a very large number on the Dow Jones Industrial average based on the stronger than expected jobs report which is fuelling todays big rally. Just to recap the u. S. Economy adding 248,000 jobs in september ahead of expectations. Also, the prior two months were also revised higher. The surge in hiring driving down the Unemployment Rate to 5. 9 , the lowest since july of 08. Despite todays big rally the major averages facing a second egweek of losses. The s p 500 is up 22, almost 23 points on the session. The nasdaq is up 53. The transports up 162 points on the session and the russell is up 12. Lt oil, though, continuing to plunge. It is on the down side by better than 1 . 1. 25 on brent crude. West texas off. The gold market down 22 almost 2 there. And the year on the ten year up to 2. 45 . More on the trading action. Morgan brennan is at the nasdaq
August. Personal spending suffers a drop since january. Latest moon shot project unveiled by google x. Delivery drones are real, and google and amazon are not the only Companies Taking to the sky. Apple preparing to catch its rivals and roll out technology that turns the iphone into a credit card. Well see september 9. First up this morning, Economic Data shows a decline in consumer spending, down. 1 in july, and auto purchase account for the weakness. The dow and s p each up more than 3 for the month, and nasdaq with a more than 4 gain. S p, nasdaq, and russell on pace for the best performance in 14 years. There was a contest whether august would be the best month of the year. It will be tough. Dow needs 16 106 points, and futures are not indicating that sprept this morning. Still a strong month. Four straight weeks of gains, something not seen. Since november. Overall, a strong month. Everyone is trying to figure out whether the growth we saw last quarter can be sustained. Economists
To sell gas for less than 2. Joining us on the phone is jim griffith. You started a price war. It is 1. 98 across the street. We thought what better way than to put some money back in their pockets. Stuart a lost leader. Are you losing money on every gallon that you sell . A lost leader . I am not losing money. No, sir. You are selling gas for 1. 99. How soon before you get rid of that more expensive gas, bring in cheaper gas and drop the price even more . We bring loads into our stores daily. We adjust a lot quicker. Stuart are you going to drop it more . We will just watch the market and see what happens. Stuart okay. Oklahoma city is the site of a gas price war. The first i can remember in decades. You started it. Yes, we did. I am very happy. Our customers love it. Stuart you are on tv all across the country. We appreciate that. , and see us again when you drop it to 1. 95. We are waiting. The big picture argument. It is the bonus wiped out by the extra cost of Everything Else . Ch
Of a rate hike coming a little sooner than expected. Nasdaq biggest loser on percentage basis. Iraq back on the offensive, launching a massive operation to drive isis out of the Anbar Province. It is a region isis has controlled for 10 days since seizing the city of ramadi 70 miles west of baghdad. The announcement comes just days after u. S. Defense secretary ash carter blamed the iraq army for losing the city. What apparently happened was that the iraqi forces just showed no will to fight. They were not outnumbered. But in fact they vastly outnumbered the opposing force. We have an issue with the will of iraqis to fight isil and defend themselves. The Obama Administration has already tried to mend fences with Vice President joe biden calling iraqs Prime Minister to praise the troops bravery. Im joined by david asman and judy miller of the manhattan institute. She is fox news contributor. Also author of the story. Monica crowley is here. Wash on times online opinion editor and fox new