Inc. Portfolio power lunch starts right now and happy friday your money carving out decent gains in the major indexes the dow trying to end the week higher just like the nasdaq is doing. The nasdaq is now more than 5 for the year melissa highlighted general bills and blue buffalo and if you are investor, go home and give your dog a pet tonight because that stock is soaring. It is up almost 17 . Other interesting stocks today, go daddy hitting a new alltime high on pace for its best day since august of 2016 Red Robin Gourmet Burgers rallying and Planet Fitness strong on the earnings and out look now to michelle. You have to work out after you eat a red robin. Thank you. The dow is up more than 200 points and lets get to the Market Action here on the floor. Bob pisani joins me. We are watching to see what happens for the rest of the day. Because were just off the highs. Look at the s p 500. Every day this week there has been i g a gap up and then we move down and close near the end of th
S p down 1. 1 , and the russell down 1. 05 . Why . One main reason is china. China devaluing its currency. The dollar strengthening significantly. Oil is down big time, look at that, dollar strength, it takes fewer dollars now to buy a gallon of a barrel of oil at 43. 2, down almost 4 . Brent down almost 3 , gold up just a little bit as you see there about a half percent. Mandy is out but sarah eisen who knows a lot about currencies and china is with us today. Thank goodness youre here. I live for days like this, watching the dow and the impact of china spread across the globe. Bob pisani, anything with any china or Commodity Exposure is getting pummeled. Dow up 240 yesterday, down 240 now. Its a wasted week so far. Put them up, Materials Energy and industrials to the downside. Thats the big losers. Some of the obvious names and their impact from china. We always talk about casinos, wynn 70 of revenues in china, and yum brands 50 of its revenue in china down 5 . Those are the easy ones
They want to hurt trump before he comes overseas for the historic series of meetings that no president has tried to undertake. Thats whats going on here, pulling the curtain back and seeing whats happening in d. C. U. S. Markets seeing through the d. C. Fog. The dow closing slightly lower, nasdaq having second Straight Record close and s p 500 hitting alltime high along with tech stocks, google and amazon. This, as the white house is fiercely discounting another report that President Trump revealed classified information about an impending isis Terror Threat to russian officials. Welcome to risk reward, im Elizabeth Macdonald in for deirdre bolton. Cia director mike pompeo is briefing the house intelligence committee. Were monitoring that to speak to the press afterwards. Well bring you that. The Senate Intelligence Committee Held a closeddoor meeting and senators spoke to the press with more questions than answers coming up. Staying on that story, too. This, as the white house fires b
Everything went wrong that could go wrong for stocks, which is why the dow plunged 225 points. S p plummeted 1. 43 . The nasdaq nosedived. To understand what triggers a selloff of this magnitude, you have to recognize that this market has multiple inputs and at times, these inputs flash bright red. Today was, indeed, a bright red day. Lets go through the information that the market uses to determine prices on any given day, because i want you on the same page as me, understanding this stuff. First is what we call the macro, thats broad sets of Economic Data that trigger reaction of the stockmarket and the much bigger bond market. On thursday at 8 30, we get those jobless claims. They were the lowest in six years. Not so fast. Its good for the economy. But its not necessarily good for the stock market. What happens when we get really good macro news like these jobless rates . Immediately, Interest Rates go higher. You got to pay more to borrow money when things are improving. Interest r
Wrong that could go wrong for stocks, which is why the dow plunged 225 points. S p plummeted to 1. 43 . The nasdaq knowsdived. To understand what triggers a selloff of this magnitude, you have to recognize this market has multiple enputs and at times, these inputs flash bright red. Today was, indeed, a bright red day. Lets go through the information that the market uses to determine prices on any given day. Because i want you on the same page as me understanding this stuff. First is what we call the macro, thats broad sense of Economic Data that trig ter reaction of the stockmarket and the much bonger bond market. On thursday at 8 30, we get those jobless claims. They were the lowest in six years. Not so fast. Its good for the economy. But its not necessarily good for the stock. What happens when we get good macro news like these jobless rates . Immediately, Interest Rates go higher. You have to borrow more money when things are improving . Interest rates reached a high t. Key governme