The s p market barely budged but the stunner was the bond market, hitting its highest level since march. Chris called this on the show a couple weeks back. Where are we headed from here . I think we are headed with the yields going up still. What is important about this move, it is not a few days old it is a few months old the trend here is several months old. I think any shortterm pullback in bond yields, that would be an area to be a seller of bond. We think yield can go up from here if you look at the longer term chart, you have to focus on where yields bounce from in 2016 and where they broke down from in 2020. When you look at this move, i think 130, 140 is ultimate lit where this is likely to go thats where the key levels are. I think as bond yields have gone up, the yield has gone up. 80 basis points and i think Equity Leadership changes ri long with that the kre here is starting to break out, not just relative to s p but on its own right the technical is starting to improve her
In china. China rolls out its fiveyear plan, promising to build a tech powerhouse. Coming his party also wants greater sustainability. At the ecb says more stimulus is coming as eu governments proposed new virus lockdowns. It says bond buying and support wont seize until the covid wont cease until the covid crisis dies down. Shery quick check of the markets, u. S. Futures coming online under pressure, down 1 after disappointing markets in earnings. We managed to end the session higher by more than 1 , s p 500 gaining the most in two weeks. We had strong data to surge Third Quarter u. S. Economic growth and a decline in weekly jobless claims. That recovery in the u. S. , setting us up for a recovery in asia as well. Look at new zealand trading at the moment, ever so slightly higher, asx futures pointing to a gain of. 4 , reversing declines of 1. 6 we saw thursday. Nikkei futures pointing higher, a little weakness though in seoul. Top story, plenty of action after the bell in the u. S. W
Over by 250 points and this morning you are seeing green arrows for the s p 500 and nasdaq, nasdaq right now up by about 122 points in the future market and that is pretty impressive you are now talking about four days in a row that you have seen gains for the major averages all are within 5 of their 52 week highs and in fact the transports set a new alltime high yesterday too. Right now the dow futures are indicated a little down by about 61 points. Were watching a lot of things that have been happening including news with Johnson Johnson, and earnings are coming out too. And if you want to take a look at the treasury market, right now you will see that the ten year seems to be sitting just around 0. 759 . So not far from where it has been yep, earnings are supposed to take the baton from stimulus hopes, which i dont know whether those are fleeting or not. But supposedly the earnings might be pretty good yesterday kind of weird all the stay at home new age tech stuff was strong as i t
Next hour ill speak to the ceo of Johnson Johnson, on the companys earnings and news of the halt in vaccine trials after one participant became sick, helping to drag futures this morning. Take a look at markets, the dow industrials are down 133 points, the nasdaq is holding onto gains, up 97 points right now fo. The s p 500 is down 6 and a quarter points. Yesterday, Big Technology led a big rally and at the close the dow was up 250 points, the nasdaq up 296, almost two and two thirds percent on the nasdaq, the s p 500 yesterday up 57 points at 4 00 on wall street. Amazons prime day kicking off today, how the shopping giant can expect some stiff competition from other retailers this time around. High expectations, apple is unveiling its 5g ready iphone 12 today, everything you need to know before the big event, mornings with maria is live right now. European markets are flat this morning. Take a look, fq100 down 23, cac down 19, dax index in germany lower by 53 points. Retail sales in t
Strong data on housing and jobs along with big beat for chicago pmi. Late breaking headlines regarding modernas vaccine. Off session highs but off the lows as we speak still wog up on the show. Coming up San Francisco fed president mary daly to talk about economic recovery, stimulus and jobs picture in america. Plus we will get a read on the consumer when we talk to the ceo of General Mills his first interview since reporting earnings last week. Cocacola entering Hard Seltzer Market with help from molson coors well talk to the ceo of molson coors exclusively about this partnership and more lets get to the big stories 59 minutes of trade. Mike santoli tracking Market Action as stocks look to close out september with a bang. Meg tirrell with headlines around moderna and leslie with the latest on palantirs review. The market, whats driving it . Sara, a lot of things blowing around in the market, quarter end, reaction to the debate, pretty good economic numbers but also in the context of a