Has been tracking the latest. Julie stocks pulling back after the big winning streak of the past four weeks. Taking a pause, and it does feel like just a pause as we are not seeing big declines as the major averages flirted with gains, doing the worst of the major indices as they had more of an energy bias. Taking a look at the bloomberg, stocks were down the most today with oil prices and Consumer Discretionary holding up the best. Losses and materials weighing things down. Within that i wanted to look at the movers. Interesting that that group is headed higher. Not much more moves on things like mcdonalds or nike. The only thing we havent disney is that zootopia was number one for the second week in a row. Starwood got a competing bid in china. They had already agreed to be bought by marriott. Offering 76 per share. Lets see what happens in this developing situation as shares rise and pull up other leisure stocks as well in todays session. Taking a step back to look at the stocks, a
Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Safest areas, dividend payers, utilities. Not huge, but notable. It feels like there was not a single catalyst. Scarlet lots of news in the retail space. This could happen as early as this month, a bankruptcy filing, retailers knocked down as a result 14 retailers. Abercrombie fitch is the only one that is up. That is because it is coming off a low base. Months ago, the stock was trading at 70 share. Under armour is getting a big lift, eight point 8 , now at a fivemonth high. Proof perhaps that the concern that under armour was losing steam was overdone. Sales climb 64 in the quarter. Joe i mentioned in the beginning about utilities selling off. Look what is going on with u. S. , not typically what you expect to see on a selloff. Going up, meaning dividend paying stocks get slammed. This is not what you necessarily expect to see on a selloff. Lowerpect to see rates, so this is notable for the u. S. On space. , we did have the ecb meeting which means we have seen some movement on the eu
Bouncing around throughout the session. Each stock is down about a quarter percent. Earnings. Just about we have Energy Stocks gaining as oil falls, curiously enough. You can look and see energy and materials are the two best performing materials. Consumer staples are on the downside today. That is shaking up. Verizon is what is pulling down the telecom shares. Wireless subscriber growth Beat Estimates but because of negotiations with labor unions, that is going to weigh on secondquarter earnings. Apple, which has delayed the Earnings Report by oneday is coming out with a shares falling about 1. 25 today. A lot of divergent views on apple. And cocacola is down for the second day after its report, even as analysts report weather yesterdays drop was justified. Tracy lets give you a break from the earnings. Tell us what else is moving . Julie oil, we are watching that today. It has had a drop as we have seen the dollar bounce around. Thes up off the lows of session. Speaking of the dollar
From london. Lets take a look at the markets. Some great guests coming on the program. First, this is a picture for european stocks, down 0. 4 . Tohave our inhouse expert go through what didnt happen in doha, currently down some 4 . Then i wanted to show you the fallout, you can see the yen rising at 108. 26. Lets get to the bloomberg first word with nejra cehic. Nejra thanks. Brazilian lawmakers have voted to impeach the president. There were wild scenes of the parliament as the opposition secured the two thirds majority needed to move to the senate. There, for civil majority would see her suspended while she faces a trial. The president and her supporters say the campaign to oust her amounts to a coup. George osborne will wrapup his campaign to keep britain in the European Union today. The you can chancellor will highlight a treasury report which says it would cause permanent rather than temporary damage to the economy. Would cutill say, impact at enormous costs the public spending.