This hour. These are modest declines. Dow down 71 points. S p futures off 11. Nasdaq down by 44. At this point, the dow is on track for its fourth negative week in the last five and that is because of the treasury yields. They have been pushing higher and higher. The tenyear yield is 4. 95 . In fact, it did cross that 5 line that we were watching. Hovering at 5 . Yesterday, just after 5 00 p. M. , the tenyear yield hit the 5 level briefly. The last time we hit that level was july of 2007. Yesterdays move cameafter fed chairman pojay powell spoke and kept the door open to more rate hikes. We have models for everything and formulas for everything. We have to be focused on what the economy is telling us. Even taking lags into account. What is it telling us . Does it feel like policy is too tight right now . I would have to say no sdp. We will talk about rates and more with Raphael Bostic. Until recently, bostic has said were done. Jay powell said yesterday at the Economic Club of new york
Hello, welcome to all our viewers joining us from the United States and around the world. Im laila harrak. On cnn newsroom, teetering on the brink. Just a week to go. U. S. Lawmakers have yet to reach a deal to avoid a Government Shutdown. Moscow ramps up rhetoric. Russias Foreign Minister calling the west an empire of lies as he unleashed a barrage of attacks on the u. S. And its allies. A texas border city hits a Breaking Point with more than 2,000 people a day seeking asylum amid a surge in migrants at the southern u. S. Border. We begin this hour focused on the looming deadline to fund the u. S. Government and House Republicans floundering efforts to work out a deal. On saturday, gop leaders tried to find agreement among their fractious caucus in a conference call, but House Speaker Kevin Mccarthy admitted later that a number of hardliners were unmoved. With the September 30th Deadline less than a week away, President Joe Biden expressed his frustrations saturday evening. At a Cong
Check things out today because we have now seen already 69 record closes for the dow this year if there is another record close today, as you would indicate if you see these gains again, this would be the most record closes weve ever seen in any year for the dow. Last record watts set in 1995 and that was a record of 69. The s p is already in record territory. Weve seen 61 record closes for the s p and thats compared to 18. The dow indicates almost 24,800. You see what im looking for. I cant see your screen. Its a map of south america because the train the sorkin train was oh. No, no. You said san paulo. I was down in san paulo where am i now youre down across from the falklands. The train is. Youre still here youre here i missed the train, as you know youre still in jersey, i think, camden or something not even. I havent left the island of manhattan. Seriously. Im stig thinking im like just hanging outside of penn station. The sad thing is, i had to look to figure out which one i knew
Sara isen. Great to have you here. Its been a tight setup this morning. Thanks for the team getting us on air just about in time. Lets check in on the markets. This time yesterday we were looking at a 250point gain in the premarket. Indeed we were up around a percent at the hoopen for the dw the dow was up 283 points at one point but ended the day lower. Around lunch time we went from up about a percent on the dow to end the day lower. A massive intraday selloff 6. 5 billion shares traded. The average is around 5 billion. A big intraday turnaround this morning up 176 markets on the premarket for the dow, 34 for the nasdaq it will be fornt see those gains maintained throughout the course of today lets look at bitcoin. Today its down again. Its around the 10,000 mark once again. Sticking with traditional currencies, we have some strength in the dollar today keep in mind that dollar index is still hovering near threeyear lows. The euro level right now is 1. 22 the u. S. Yen, 110. 73 the p
It was like five sessions between 25,000 and the zeseventh trading sessio. From january 4th to yesterday is when we saw the 1,000 point move in the dow oil breaking, which is a weird Reason Energy stocks came down as a result just the idea lets hold off for a second nevertheless, with all of that, the s p 500 still remains on pace for its biggest monthly gains since march of 2016. The nasdaq is still on its biggest monthly gain since july of 2016. Look at what happened overnight in asia, you will see the nikkei was down by a third of a percentage point back to this morning sorry, flipflop back to this morning, you are look at double digit gains or triple digit gains once again for the dow. This comes after last night the nikkei down by a third of a percentage point hang seng and shanghai stocks both ended higher bay quarter percentage point in europe, where you see the early trading this morning, you will see at this hour theres a bit of weakness. Dax is down by 0. 2 . Ftse down about