Kelly. The dow shedding 5 in lets get to bob for more on this sell off. Bob. I think the key here today is oils impact but its impacting things outside the oil market. Leets ta lets take a look at the sectors. The two biggest that are out there, tech and financials are the weakst ones. They will put pressure on the s p 500 because they are a big part of the overall market capitalization industrial is also weak. Energy is not among the big pressure points in the s p 500 today. I want to poipt out some of these big momentum names that have helped in the tech area in the last few days. Generally, weak today. Advance micro, starbucks these are momentum names that have done well recently and they are having problems today. The futures contract highly showed you that. Its remarkable to look at an 8 future track as 18. Thats an enormous spread were looking at here. Some of these Tanker Companies have having a tremendous day to the up side. Soc some of these Energy Futures just all over the pl
Whole move, just fueled by Wishful Thinking are we whistling past the graveyard here after a strong day dow gained 133 points, up more in the beginning. Nasdaq climbed 1. 3 . I think those are the wrong explanations its not Wishful Thinking. Its that i keep telling you that we have two markets, right. I told you why the s p doesnt work any more. We have two markets. We have all that stuff that went down and im going to go over that and then, of course, whats in the nasdaq in science and technology thats whats responsible for the phenomenal move. The nasdaq is barely down for the year yeah, and the bad market, the industrials, travel leisure stocks everything gets dinged even on a big up day like this one. Right now there is genuine excitement on wall street that we could maybe be returning to something close to normalcy. We know its ridiculously high people didnt get their stimulus checks, the pay row protection program, money will float, Small Business employees consumers have been co
And the estimated number of deaths we will get ism today. Adp is out several european banks are spending dividends jim, how much of this mornings action does reflect the grim picture that the white house set forth yesterday . Its difficult to imagine how, lets say, optimistic people were versus what the president said last night. I think many people in the stock market understood that the numbers were completely understated. You did leave the office saying, wow, that could be just terrible because they didnt caveat it as much as you might have thought they didnt say, all right, but were doing great in this state, this state, this state they said look, this is the reality. I think the reality rolls back some of the 19. 9 gain we had last week in the s p then whats going to roll back the rest is if we have credit problems ill defer to david. David knows behind the scene what day it is today today is the day youre supposed to pay your rent david, a lot of people wont make those payments,
As previous days when it comes to losses. Romaine it is all relative. Scarlet lets check in with our reporters for more on the market action. Of the day,the end some of these mega cap tech names. The New York Stock Exchange faang index getting a big boost. Apple, the best day since 2011. Overall, the new york faang index getting its best day since the beginning of january. We had this huge move down yesterday, the big bounceback today. This index may suggest or downside is ahead. The new york faang index still above the 200 day moving average. At the highs, more than 40 above the 200 day moving average. Bearish divergence, falling rsi. Now we are still above that 200 day moving average. These you see some of mega cap names come down to earth, it is hard to believe a true bottom is in place. As the prices get set to hammer the oil companies, one corner of the industry is set to see some gains. Those Tanker Companies up about 15 . The Lower Oil Price makes it more profitable to actually
Quote, took proportion gnat measures in selfdefense under article 51 of the un charter targeting base from which cowardly armed attack. President trump tweeted, all is well, missiles launches from two military bases a sassessment of casualties and damages taking place now. So far, all is well. I will be making a statement tomorrow morning, meaning this morning. We are awaiting word when to expect that statement from the president. Stock futures initially sank with the dow pointing to more than 400point loss today. Futures have paired those losses now dow futures down a few points even with those declines, the dow only down by six points. Along with the nasdaq and s p. S p was down over 50 points overnight. Right now, you are looking at positive territory for both of those. Whip saw action in crude oil oil for wti up to 63. 02. Gold prices briefly touched 1,600 overnight you are going to see 1,582. 5. The boeing 737800, not a max, crashed in iran yesterday the jet went down moments afte