The nasdaq is on track for its best monthly gain since july of 2016 the s p 500 is at its biggest monthly gain since last february the s p and nasdaq have risen seven of the last eight trading days if you were waiting for things to slow down, you are still waiting. Triple digit gains for the dow already this morning overnight in asia there were gains this came after the strength yesterday with the dow up 200 points. The hang seng was up by 1 shanghai was up by 0. 1 . The nikkei did give back some ground in europe this morning, there are some green arrows across the board. Gains of a quarter percentage point for germany and the ftse in london. The cac in france is up by a third of a percentage point. If you want to look at treasury yields which have been picking up ground, you will see the treasury yield for the tenyear, sitting about the same, 2. 544 lawmakers in germany reached a break through in talks to form a new government the euro rising. You need a government. Euro rising to new
A positive upward momentum we had recently. Be one of the reasons we are seeing a pause. Stocks have gotten too overheated levels, according to several measures. One of them is the 14weak relative strength index. We have a chart of it here for the s p 500. Line,y, this of her red when this goes over that redline it indicate stocks are overbought. On the bottom you have a green line that indicates oversold typically. So we have a record level for this 14weak indicator. If you look at the 14day rsi come it shows the highest since 1971. Momentum indicators have gotten a little overheated, and that is something investors have been talking about. Individualk to the stocks, watching some of those financial earnings as they come to a close. Morgan stanley, which has been bouncing between gains and losses this morning is holding onto a gain of half of 1 as the companys Wealth Management fees climbed to a record, raised its target for return on equity. On the flipside, bny mellon reported inlin
Notably on the issue of the irish border. That is headache number one, i border. That is headache number one, headed by borisjohnson. Headache number two relating to our long time trading relationship to the eu. Michelle barnier was very clear. An exasperated minister has an arresting analogy for the brexit negotiations. They are now like the iconic scene in the spaghetti western the good, the bad, and the ugly. Who will shoot first . This minister asked me. As if on cue, one of the characters in the real life stand off popped up to make clear that the eu is now spoiling for a fight. Michel barnier was dismissive of britains plans for its future trading relationship with the eu, which theresa may will outline in a major speech on friday. Translation it is an illusion to imagine that we are going to accept cherry picking. We are responsible for maintaining the integrity of the Single Market. The uk knows the rules that underpins the integrity because they worked with us to create them f
He knows how to build hype. Commodity crush. Gold futures hitting their lowest levels since april 2010. Live at the nymex on what is driving this precious metal lower. Its the stronger dollar of course. Google on a tear. Have you seen this yet between the two classes of stock, nearly 20 million shares changed hands today. Growth in Youtube Business is top of mind after last nights earnings report. Weve got the cofounder of a Media Company that specializes in youtube talent. We had to brush up on our youtube talent to prepare. You should see the amount of money these people are making as talent on youtube. And the amount of clicks they get. The new york fed says the strong dollar could lead to a hit for gdp. Jan hatzius gives us his take on that the economy and latest forecast for the fed. Lets start with tesla and elon musk with his latest announcement. Phil lebeau has the ludicrous details for us. I know you want to go in the ludicrous mode when you get a chance to. These are all prod
Bellwether companies of the new economy. The tech sector makes up 20 of the s p 500 by the way, tonight both companies, which you likely own through your mutual funds and 401 k s, they failed to wow investors. First, apple. The worlds most valuable company, reported earnings of 1. 85 a share. Revenue was slightly better at 49. 6 billion. Whats the problem . Despite selling more than 47 million iphones in the quarter, yeah you heard me right, it was the companys weak outlook that sent shares initially lower. A lot lower after that report. Josh lipton has the key takeaway from apples results. The big number in apples latest Earnings Report 47. 5 million. That is the number of iphones apple said it shipped in the quarter, now, that was up 35 year over year but was also basically in line with what wall street expected. Analysts had forecasted apple would ship some 47. 3 million iphones in a conversation with apples ceo tim cook. He told me that only 27 of the companys install base had move