Of these winners that we now affectionately refer to as the fang stocks . Two Money Managers go head to head, one still likes and the other one says maybe time to look elsewhere. Two emerging market currencies that could have major implications for the boarder market. Why everybody should be watching them, ahead on closing bell. Lets start with this friday selloff, bob pisani on the floor here at the exchange. The bottoline is we are not getting any bounce at all. We opened we gapped down more than 20 points on the s p 500 and essentially we have been sitting at the lows all day. There have been really no significant attempts to rally and every time we have hit a lower low weve seen a little spike in volume. Five to one, seven to one, somewhere around there declining to advancing stocks, notably weak of course oil and oil stocks under new lows here, right across the board, apache, big company down 6 , here is exxon, the majors arent down nearly as much, down about 1 . Defensive names a
Stocks are about to get bit. But they have rattled and were going to find out why. Later on, are you worried about more volatility than we already have. We have a group of stocks that could be your ultimate shelter trade. It is big show ahead, everybody. We start to the market. The down closing down 310 points. That puts it down more than 3 just this week. That is one of the worst weeks for the year. Why else . The collapse of the price of oil. Here is the big question. Crude oils collapse becoming a larger event or perhaps a credit event. I think that is what were seeing. We have seen the high yield market, junk bonds, distressed bonds, we have seen that market sell off significantly. That is why youre seeing all of these gates being put up. That is starting to spread to the rest of the market. Now we have consumer services, we have retail, we have tech, we have materials. All of those junk bonds are trading at distressed levels. This is starting to spread. It is starting in oil, and
Philadelphia neighborhood. Crews are trying to get the problem under control. Good evening everyone, im ukee washington. Im jessica dean. We begin tonight with whale of a tail down the injuries shore. Eyewitness News Reporter diana Rock Companies shows you why the whales are showing up down the shore this time of year. Reporter people walking the boards out on the water this weekend up and down the jersey shore surprised to find unexpected visitor whos didnt mind putting on show many off the coast of ocean city this video shows one fisherman getting quite the bump from a hump back whale. Enough to rock his boat. Feeding, blowing water out his blow hole and at one point he started just kind of breaching coming towards us and then, you know, zigzagged arou around. He comes basically underneath this guys boat. Jim shot the video monday morning about a mile offshore. Fishing for stripe . When he saw the whale getting a little too close to another bo boat. Seemed like the whale knew where t
Declining. 23 . And the nasdaq dipping. 17 this session . Frankly, theres no one answer that explains why stocks are so resilient here. This is a complex and complicated market. Instead, there were a number of important factors at work. Lets get to it. Lets go over the reasons why the market hasnt been absolutely destroyed despite the crash of the Malaysian Airlines plane over ukraine and the ratcheting up of the antirussia rhetoric by president obama and his people this weekend. Pretty much, the markets decided for now that whatever sanctions we put on russia are not going to hurt the earnings of u. S. Based companies. Now, im not so sure if the conventional wisdom here is correct yet. Its certainly right if the west, including the United States does nothing more than what weve already seen against russia. The current sanctions arent going to hurt any companys earnings because i dont believe that putin is going to shut down, nationalize, or kick out the companies of any western countr
It feel like its in the teens. Right now sustained winds in philadelphia out of the west at 20 miles an hour. In reading sustain winds at 16 miles an hour. It feels like 11 in philadelphia. Allentown and millville. It feels like five below zero in the poconos. Now, this is what were talking about as far as the cold, the record in philadelphia 20. Set back in 1936. We will at least tie it if not break it overnight tonight and many records are in jeopardy come tomorrow morning. Wind chills will be below 5 degrees going below zero for the entire night in the poconos and the lehigh valley, in the single numbers in philadelphia and suburbs. Wind chill in the teens and the same goes down the shore wind chills between 15 and 19 degrees come tomorrow morning. Coming up well talk about one more bitter day that feels more like a cold day in january late blast of cold and then warmer but wetter. I think well take that trade off much thats coming up in the seven day forecast when i join you inside