One of the big ripple effects is utilities. Take a look at this chart behind me were seeing the death cross thats what some technicians call it when the shorter term 50day moving average of a stock or etf falls below longer term trend, the 200day average were seeing it with the excel, the spdr sector utility, xlu this does not portend bad things but something to Pay Attention to its not the only that were keeping an eye on. Were seeing some action play out in some parts of the market. Namely in the real estate stocks the vanguard reit index is sinking down to multiyear lows. As we take a look at whats happening with this, its already in correction territory, off about 10 plus the highs we saw a couple years ago well take a look at another part thats perhaps a brighter spot while all these guys are making these multiyear lows, one thats not is the consumer staple sector. This is actually just a stones throw away from alltime highs would you believe it or not, more than half of the index
Headquarters. Lets kick off this morning with breaking news out of south korea. Rosemer prices in july 0. 2 from the previous month. Economists estimated a rise of 0. 2 . Looking at the yearoveryear change prices, it rose 7 10 of 1 compared to estimates of 0. 7 . It is coming in line with estimates. Modest Inflation Numbers have been the norm for south korea facing challenges of sluggish domestic demand. Inflation has remained below the Central Banks target range for over 30 months now. That target range over 2. 5 . Members out of south korea showing inflation data rising 7 10 of 1 on a yearly basis. Lets check in on markets in asia this morning. To new Zealand First where we are waiting for the commodity price numbers. We are seeing a trending down 90 after some momentum for new zealand stocks. The new Zealand Dollar spot at. 6568. We are counting down to the openings of japan, south korea and australia. We are also waiting for data on japans monetary base. It closed down 2 10 of a pe
26 inches of rain in 24 hours. It is every bit as bad as it. The volunteer navy back in action. They just showed up when word got out that the texas Louisiana State line was in deep trouble in deepwater. The flood came suddenly and those suddenly and though sukarno could take very little with them. This is a new wave of evacuees. Another spike in gas prices. You are paying more at the pump right now as we go into the labor day weekend. For since more than yesterday but the wholesale price of gas, rising sharply youll be paying even more next week. It was just one week ago today when word of this disastrous storm for surface. Meteorologist janice dean shot everyone went on this program she forecast 25 inches of rain to south texas. Many places eventually got double that. What a week it has been. Jam pack show for you. The stock market continues to rise in the north korean throttle rocket and threaten to bomb again. Varney company is about to begin. Train to now come in about half an hou
If overnight was any guide, it could provide a little bit of a stop here. Guess just to show you how uneventful things are, if you look at the 10year yield, 1. 5 . Little change. Not a lot. Moving sideways across. Equity space, as rishaad pointed out, is mixed. Put it together, it is as flat as you can get. Now. E at zero right regional benchmark volumes light, especially in chinese markets. Hong kong, chinese mainland, down 7 10 of 1 . In the epic space, movement. Currencies. At kiwi dollar, lower. 70 70 1 chance overnight swap. Moves to cut rate in august so that is being priced in. Have a look at the aussie dollar, 1. 2 drop. Basically, flat. Other where we have a little bit of movement strengthening here. Following the fixing from the pboc. Not the Biggest Surprise but i mentioned a strong dollar earlier, a strong dollar story overnight. Level judging7 by this move that surprised some people. Isething you want to watch how do the Central Banks and policymakers control Property Mark
It is a treat if you like Clear Conditions in the commute through 8 00, with live doppler hd quiet. Lack how calm it is. Look at the bay water, just mirroring lights from the port of oakland. Temperatures in the mid40s to mid50s. We are in the mid60s to mid70s in cost and inland by noon. Upper 60s at the coast today, mid70s around the bay and mid80s inland and the last warm days. An update on the halloween profit and the rain. We are using our san rafael camera with headlights coming toward you are heading in the southbound direction and traffic is calm and quiet here and clear and no fog to get in our way and as we move over to the Golden Gate Bridge we saw the zipper truck making its way to the north end so if you are traveling into marin survey on the righthand side of the lanes and it looks like we have four lanes open for the southbound traffic. At the Altamont Pass we had an early accident a slow through address and now it is improving with the accident cleared and 17 Miles Per H