As no fewer than eight states along the eastern seaboard declare various states above emergency. Air travelers, its a mess, theyre feeling the brunt of this bomb cyclone. On the screen is a picture of ohare, chicago. Fight aware is reporting 3800 cancellations have been called across the nation and additional 1500 flights delayed. Flights at this hour suspended at new Yorks Laguardia airport and the jfk. Newark, new jersey is on a limited takeoff basis. You are not storm also playing havoc with the Nations Energy centers, with snowfall and excessively high winds knocking out power to tens of thousands of people. More expected to get hit by darkness. Power companies are warning of the possibility of fuel shortages because of polar temperatures arriving with the winter blast. Its a transportation issue. Transporting the oil. Lot of problems with the roadways. Team fox business on the ground with every single part of this story. Now to wall street, the dow cracked yet another major milest
Ahead. Abigail, a sea of red right now. Day, sharpbearish declines for the dow, s p, 500, this selloff has been pretty sharp and swift today. We have the smallcap index down about 1 . The russell 2000 higher earlier today. Doing a bit of a bearish reversal as tensions with north korea escalate, as scarlet was mentioning, uncertainty around d. C. Lots for investors to contend with today. The major averages on pace with her worst day since the middle of august. No one point, the dow had been on pace for his worst day since the middle of may and that is true for the 10 year yield. The 10 year yield drops, that tells us even bonds are rallying, down nine aces and. Nine basis points. Point, the 10 year yield had its biggest drop since june of last year. Could affect the fed. Either way, this is affecting the Financial Markets and the fact that financials, that the worst to sector on the day. S p 500 Financial Sector down about 2 . These are bigger movers within that sector. Lots of red here
Inflation before raising rates again. Toricane effects are going make the data hard to read in the coming months. Inflation is going to be temporarily boosted by the hurricane. Unlikely to materially alter mediumterm economic activity. The labor market seems to be looking good to the federal reserve. They noted that the Unemployment Rate is back to prerecession levels. The fed is feeling pretty good the unemployment situation and inflation moving back up to 2 . They are getting a little bit wary about the slowdown in inflation. I think the keywords are that many officials are concerned that the low inflation thing is not just a transitory effect. Lets get a check on the Market Reaction to fed minutes. Julie right now we are not seeing much of a stock reaction. Its an unusually tight trading range and Small Movement even for stocks given the recent environment we have seen. Lets take a look at the intraday chart to see if any move is any more clear for the s p 500. We are not seeing muc
My temptation would be to start with current events. I really enjoyed your july 3 column, the hijacked american presidency. Im going to read a little bit from it. I thought it was so powerful. Every now and then we are going to have to do this, step back from the onslaughts of insanity presidency,trumps registering its magnitude in its full, devastating truth. Ourselves routing than rising to the honor of the office, trump has lowered the office with his whiny, fragile, vindictive pettiness. The presidency has been hijacked. There are no words to express it. There is no new and novel way to catalog it. It is the most extraordinary and profound electoral mistake america has made in our lifetimes, and possibly ever. Powerful stuff. Why . Charles why not . There are a lot of different people who play different roles in society. , part of the job is to bear witness. , what else should i be writing . How else should i be considering what is happening . Reporters, who their job is to follow
My temptation would be to start with current events. I really enjoyed your july 3 column, the hijacked american presidency. Im going to read a little bit from it. I thought it was so powerful. Every now and then we are going to have to do this, step back from the onslaughts of insanity presidency,trumps registering its magnitude in its full, devastating truth. Ourselves routing than rising to the honor of the office, trump has lowered the office with his whiny, fragile, vindictive pettiness. The presidency has been hijacked. There are no words to express it. There is no new and novel way to catalog it. It is the most extraordinary and profound electoral mistake america has made in our lifetimes, and possibly ever. Powerful stuff. Why . Charles why not . There are a lot of different people who play different roles in society. , part of the job is to bear witness. , what else should i be writing . How else should i be considering what is happening . Reporters, who their job is to follow