In perhaps, germany and spain, some more muted declines. U. S. Equity futures are looking a little bit better this morning. At this point, the dow futures are up by about 46 points above fair value. But i dont think how much faith you put in these implied opens at this point. What is indicated now is not necessarily how the day ends up, but it is certainly something to watch and see. The fed did decide to trim bond purchases. It was the Central Banks first unanimous vote on policy since june 2011. The fed made no reference to the selloff in emerging markets. They didnt talk about that, they didnt mention the cold weather. But the fed stood pat and this is an enormonormous decision. Joe, you are looking righter and righter on that call. And im not happy about it. I dont want the globe to slowdown. No, no, no. I just did the math. 75 divided by 1850. Were at the s p were at 1774. So its down from 1850. So 7. 5 divided by 1850 is exactly 4 . When you put it in those terms, a decline of 4
But it couldnt hold onto the close couldnt hold onto that level, we should say. The entire market losing altitude in the final hour. Lets bring in the closing bell panel and figure out what we learned today. Joining us jon fortt, kenny from oneill securities who is just finishing up trading on the floor and hell be be shortly. Sheila over at the nasdaq. It was nasdaq 4,000 all the talk earlier today. By the close it was the hit social media was taking. Whats going on . We managed to eke out a gain at nasdaq six points away. You mentioned social media. Bigger picture its the momentum stocks today everyone was talking about. Facebook was definitely one of them. Tesla, Green Mountain coffee baidu, names down today. Exact same names that led the nasdaq higher. Everyone focused on the momentum stocks. Sheila, thanks. Dan, im curious, why is it were seeing some momentum coming out of the market today . Listen, you focus in on any one particular area of the market. In this case the social med
Is what im talking about. Its been a bad february and this is the first trading day of the month already here kelly, so its not getting off to a great start with the dow down almost 2 following a 2 slide in the nikkei overnight. And, bill just so people can get some context around what were seeing this looks like the worst start to a month in terms of percentage losses for the dow, for the s p since 1982 and for the nasdaq potentially ever at least going back to 1972 as our data does. Lets talk about this. I mean its clear that this market is struggling in 2014. What does it mean for you as an investor . With us today, gina sanchez from chantico global. Michael gued anthony chan from chase. And our own Rick Santelli. Michael, we have been talking for months about the need for a 10 correction in this market that did so well in 2013. It would appear its under way. It certainly would appear, and i think its actually perfect opportunity for investors to reposition portfolios. Going into th
Kayla, dominic chu, mike santoli and tim seymour. Good morning or good afternoon. Welcome to all of you. A long day for you. Its all a big blur. Starting to feel that way in the markets. Mike, why the drift lower into the close . Cant say specifically. Were looking at five days from here on out. Markets tired up seven weeks in a row. I think if you were going to rebalance at the end of the month, youre selling stocks to buy bonds. Stocks have outperformed so much. Im going to put all that out there and say, maybe some of that is at work. Its interesting. Rotation now going into fixed income coming out of the stock market instead of vice versa like weve heard so much about. As you see Interest Rates go lower, it puts the appeal in market interest stocks, utilities, telemarket, less prone to the ups and downs of the macro economy. The rotation is happening but its not like this is a new story. Weve seen this ebb and flow for a while, though. If you had to describe the rotation you think
Weve had triple digit ups and downs all week. We will talk about this, one guy with the answers, the author of the black swan. Is all this volatility the start of something cyclical . We will also focus on several big name stocks with big drops. On our list, mattel, amazon. If i got out of the way, you could see them. Mastercard and chevron. Ugly duckling kind of day. The man with the black swan is here. You are down there. Im down here on the floor where the tone is decidedly better but of course, not as good as the bulls would like it. We were down 230 points so this is quite a comeback. Bob pisani is on the floor and sheila is uptown at the nasdaq. Bob, you know, does this comeback have staying power and a lot of it has been linked to currencies but fridays are traditionally not in a crisis, not good for currencies. You will devalue currency, you do it over the weekend. The answer is the recovery is nice but very fragile. Thats all you can say. Anything more is really not very smart