Levels last week. Joe at one point, the nasdaq down 4 . Up. Ine some stocks are tyson foods, people still eating chicken out there. 5 . Joe real meat. Romaine not the alternative. Scarlet tyson foods up 5 . Jacobs engineering gaining 1. 7 . Lets dive deeper into the marker and into the market action. Luke i like to add a little size and scope to what we are selloff, terms of china. Collection of companies they put together, the median stock has 22 of the revenues. 33 of the basket is capped at tech. The worst trade war related selloff we have had yet. Stocks with a lot of u. S. Exposure have been doing better than the u. S. Wants. Scarlet intraday, the Wti Crude Oil is sliding today along with its peers. This situation had been sparking a flight from risk assets, unsurprisingly. The bt isolated to near vdi wti slid. Lossesd some of the after a drop at the main storage hub persisted. The dispute between the top two economies in the world is going to hurt demand. Weaken stokedyuan fears
All because of an announcement that it will cut 400 jobs from its marketing unit, one third of the Marketing Department globally. This happened according to an email from the ceo earlier today. Is also falling close to about 4 . The coo is leaving. Said theyders of lyft would not ira replacement ends not higher a replacement and instead delegate the responsibilities. Largely expected the fed will cut rates. Theres a 20 chance they could cut by 50. Lets look at a pretty interesting chart that goes back five years. In blue, the fed funds future yield. In white, the s p 500. Correlatedtwo were until this year with the feds pivot. We also see the fed funds future yield also possibly bottoming out which suggests jay powell has a delicate task ahead to keep both bond and stockholders happy. You see the big divergence there, that if yields were to should backup, it may take a bite out of the rally. Romaine beyond meet, one of the most popular companies, reporting earnings. It looks like it di
Nasdaq up about point six cents. 6 . It has been leading because of apple. Lets look at the 10year note. What we have seen as a contrary reaction. You got a fairly benign report, so one would think that we would have seen an increase, yet that is not the case. We have seen an acceleration of the decline and yields. A Similar Movement and the u. S. Dollar. The bloomberg dollar index moving lower in the wake of the fed statement, as we can take a look at the dollar index, you see a decline for it. There you go. First spiking up, then down with little change. , pricing inhe wirp the Interest Rate changes. In particular, i am paying attention to the december meeting. 43. 6 . Ow, we are at here it is in breast terms. It has come down a little bit, the probability for an increase at the december meeting. Went as high as 50 in the wake of the statements, but now back down. Vonnie julie, thanks. Bloomberg surveillance anchor tom keene is with us. Tom vonnie, thanks so much. William grosses wit
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