Me. 13 for the s p. 38 for the nasdaq. Thats. 66 . Russell 2000 down more than 1 . Lets check in with simon at the big board. I mean it is the Energy Stocks that are taking it on the chin here at the moment. That sector down almost 2 trading just above 45 a barrel on crude under a huge amount of pressure. Transocean, southwestern, chesapeake, chevron, many of those are not adjusting correction but arguably in a bear market. Bob pisani is here to talk us through the action. Slower Global Growth in china, slower Global Growth in latin america, particularly brazil. The commodities complex, new lows in exxon, new lows in chevron. Thats why the dow is underperforming the rest of the market. Conocophillips, devon energy, a halfadozen big energy names again at 52week lows. Were seeing some new lows in other commodity stocks. Groups. Ael key with a is at a 52week low. Freeport mcmoran in the copper area also at a 52week low. Another reason that were having a problem is big global companies, th
It will have erased the gains of the year. Courtney reagan has more on whats exactly happening. One trader i talked to said there is no one sudden catalyst. Just a lot of things were seeing thats making this a be generally riskoff trade. If weve broken through sew key Technical Levels. Specifically on the s p 500. The next level we are looking for is 2,067. Well see if we break through or hold above it. Consumer discretionary, health care, telecom are the biggest drags. Energy is actually higher and crude oil which continues to fall. Despite all the retail news and movers in the Consumer Discretionary names weve been uk talking about it all today, 7 of the 15 performing stocks in the s p 500 are media stocks. It is kind of due to this reinvigorateing talk about cord cutting. If you look at the s p media industry, a subsector group here, having its week since october of 2008 when it lost almost 22 . You can see by that chart was level, then the steep falloff. One consumer discretion yae
If Kayla Tausche is at the nyse to tell us whats happening on the floor. Stocks for the dow and s p are in the red right now. The dow having its nay rowest trading range today since august 18th. The nasdaq has been flirting with the flat line for the last hour. It is just slightly into positive territory. The dow, the s p and nasdaq though even with todays trade all remain out of correction territory. Lets get the trading action at the nyse. Bob pisani joins me on the floor. Michelles getting ready to go on vacation, a lot of other traders are and very happy to be a somewhat normal august day here. The s p 500, very narrow trading range. Only 13 points. Got a little droop in the middle of the day. Stan fischer speaking exclusively with Steve Leisman. Some interpret him to be a little more hawkish. I didnt hear it but the markets seemed to react that way. Down just a little bit. Very narrow trading range, 13, 14point bottom to the top. Volume is heavy but declining. Heavy for august but
Rose. 06 and nasdaq advanc advanced. 32 and im glad to put the brutal volatility behind us for the weekend. To totally chaotic nature of the market left me thinking once again who can blame people for losing faith in stocks . Yet here i am telling you yet again that if you protect yourself with limit orders, if you use weakness to put some capital away, not run from the market out of fear, you can use your money to make money in stocks and thats not something that you can say about cash. You think the market is just one big pumped up balloon. Its still the only game in town. Thats been the case ever since the case was serious about the financial crisis. Now were faced with the feds period of accommodation and were starting to get the hang of that and after this brutal week unless china runs off the rails before the next fed meeting or a gigantic firm implodes creating a brutal credit event that freezes brokerages around the globe im tempted to say lets just get it over with. So you can
Films helping in chains, but could summer hit ticket sales . Well, i just believe it or not, i went to a movie sunday night. I saw guardians of the galaxy. Did you like it . Loved it. Did you like the first one . You know what . I dont remember it. I dont remember it. This one i remember. I saw furious 8, the fate. We have so much to talk about with bob iger, a live interview with the ceo, first on cnbc before speaking to analysts. Now you can take the graphic down. So much speculation about his president ial ambitions too, these days, much to discuss with him. Beginning, though, with Goldman Sachs, ceo Lloyd Blankfeins statements made in the last hour, and we sat down with mr. Blankfein to talk about the financial sector. This is what they talked about. Do you think the u. S. Banking sector is over at the moment . I do. I do. Look, we had a very the system had a very, very big trauma, and we legislated very quickly. There was a lot of demand for it. The issue was, you know, what shoul