Good morning welcome to Worldwide Exchange here on cnbc im sara eisen im mike santoli in for wilfred frost. Lets check in on the Global Markets before we take you to europe show you what futures are doing in the wake of yesterdays session which really showed markets little changed the nasdaq did outperform. It broke its threeday losing streak plenty of moves to talk about. Tesla down 7 costco reporting great samestore sales overnight well get to that. Heres the future setup. Nasdaq down 13 dow futures down 8 s p down 3. 5 the tenyear treasury note yield, took a step back after climbing pretty steadily over the last week or so. Looking at the tenyear now, a little bit firmer, 2. 34. Kind of a mixed message from the big event yesterday which was the fed minutes from last meeting, not really a consensus on when to start shrinking the Balance Sheet or raising Interest Rates in a period of low inflation. The word is that that will proceed as planned dent give traders much to trade on in ter
Is if if the president of the United States continues to call in aides and instruct them or give them leave to go out and make comments and starts exciting inconsistent with what the policy is of the administration or changing it, i think that the general is going to have to do this hes going to have to tell the president , look, mr. President , if youre going to tweet, let us know beforehand and let us take a look at it, if you will, and also folks coming into your office, when they come out of your office, if you call them in, instruct them that they will have to come by me and inform me whats been said, and hes going to have to structure this thing. I dont know whether thats going to work, but i do know that those below the general, given what he did today, i think will have gotten the message, and i think hes certainly got the possibility of imposing a new sense of discipline and order on the staff below him but were dealing with the president of the United States i mean, thats one
Just under 30 minutes to the close of trading. The stoxx 600 snapping three days of gains, the longest run in a month for europes equity benchmark. Financials leading the losses. Part of that driven by lower bond yields we were seeing earlier in the session. Most Industry Groups in the red and in the green, you do have utilities outperforming. I will about metals in just a moment, but first, a great chart showing european docs. The pricetobook ratio compared to the s p 500 pricetobook, european stocks are at their cheapest versus u. S. Stocks on record by this measure at least. That is something to keep an eye on when we talk about where investors should be putting their money in the equity markets. Looking at the euro, i talked about the ecb accounts and the fact that we got some signals that the ecb with concerns about a stronger euro, so we did see the euro dipped just after thes accounts came out. It has recovered ever so slightly, but we are down to 10 support of a percent on euro
Good morning and welcome to Worldwide Exchange. Im sara eisen. Im wilfred frost, very good morning from me as well. Welcome back. Thank you. Good to see you back. The content. Weather. And the energy of what we say. Lets get straight to the Market Action this morning. We did see another record close for the dow yesterday. Positive session in a row higher up 0. 2 but the s p was down 0. 1 . Nasdaq was down a little bit more 0. 6 but nasdaq was the best performer last week, saw a little bit of evening out tapping out yesterday. Were higher once again. Dow is getting closer 20,000. Extraordinary the pace at which it crossed 19,000 and nearly reached 20,000. Well see fit can manage that at some point in the remainder of the year. Its higher by 54 points today. Ten year treasury note weve seen bonds continue their march higher or resaturday their march higher in terms of yield over the last three or four trading sessions. Five year note is now at a high since 2011. Ten year note is a little
Yesterday . What did you think . Weird, right . What you are talking about . Went all the way up. Yesterdays session . Yeah. What happened midday that knocked that off . They thought it was the ap story about trumps tax plans, how theyll scrap it and start all over again. I dont know. During the day, the guy in north korea said were this close to nuclear oblivion, the markets just tread water. But then the tax plan. Syria saying, yeah, russia said one more move, were at war. And then the futures didnt move. But then they said something about the tax plan, could be a week late, the markets moved. Thats very telling. How do you price it in . You can kind of when the world ends, it doesnt matter might as well trade until it does. Flight to safety. Im in safety. It doesnt matter. Even oil, with everything happen. When music is playing, you have to dance. Quick heck on whats going chec in europe and then oil. The dax down a bit. Cac, we will call that flat. Virtually unch. It is unch unch.