Week for the nasdaq. That is the first time youll see stocks down for the major averages in three weeks. This morning, we are still near alltime highs for both the s p 500 and the nasdaq looking at the treasury market, right now, 10year at 1. 486 some additional pressure concerns about Global Growth and what it will mean for the economy. S p was out saying for the year, you could see chinese growth at 4. 4 for the full year that concern if they see a peak to the virus in march. All these new highs and goldman talking potential correction i can see how the case could be made right now is there anything more than a possible Global Pandemic i think about it it is hard to buy any stock that wouldnt be impacted by a bad outcome in this. Right people assume it will be a vshaped recovery and that it will happen sooner rather than later. With coronavirus. After it going away. But we dont know if it goes away and we still dont know what kind of numbers we are getting. It appears it is slowing a
Confidence ticking lower in november though still largely positive. Joining us for the hour is mark tepper from Strategic Wealth partners mark, welcome. Thanks for having me. Even as i just went through those different points that are driving the action today, weve got records again for the dow and the s p, albeit just barely. Right, yes. I mean, all investors are pretty much still riskon and whats most surprising to me is you have this news coming out of china where china is potentiallily bay lbalking at ae deal, but were at a new alltime high. The market has shifted from one of economic deflation to policy reflation and thats typically good for stocks, right a low inflation, Slower Growth economy is good for stocks over the next six to nine months, now would not be a good time to be underweight equities. You want to be pathetics right now. Is the trade deal priced into this market . I think completely, almost fully priced in right now. I think weve seen quite the runup over the cours
Manufacturing data this morning. Weve got full Team Coverage of todays selloff bob pisani is covering the markets reaction to that weak manufacturing data Bertha Coombs is watching the movers at the nasdaq Rick Santelli is looking at todays action in the bond market lets check in, though, where we stand. We are down 281, the low of the session on the dow was down 347. A slight improvement in the last 30 or 40 minutes or so but a significant fall from where we opened up 129 points or so lets check in with steve grasso from Stuart Frankel whos joining for the full hour. Steve, what is this . Recession fears again or is it justified to see this slippage you know, its funny, you know, im tempted to just jump onboard and say its all recession fears. And then you have the first day of the month and then you have impeachment. And then you have trade. But definitely, this is recession fears, but i wouldnt read into it as much as Everyone Wants to you have the first day of the trading month, th
But still red for each of the major indices. Joining us for the full first hour of the show Courtney Gibson from loop capital markets. Courtney, thanks for joining us. Whats your take on today . Investors in a sort of holding pattern, are they, until we get to the fed unbelievable holding pattern. I mean, volumes are down precipitously today. At least they were before i came on the show today. I talked to our equity desk at loop capital and in the u. S. Alone volumes were down somewhere near 30 and even in europe spain was down i think somewhere near 40 on volumes our desk flow today was down substantially as well. It looks and feels as though investors right now are really kind of sitting on their hands markets as you can see, dow down just slightly but recovering back to the highs of the session. Russell is lagging down 0. 7 utilities, real estate the bestperforming sectors. Energy and tech towards the bottom we have got apple down about 0. 7 , albeit higher for the week broadcom wei
Because as we kick off the final hour of trade on this mongsd the markets which had been done earlier are starting to go into the plus side here. Dow still down 25 points, s p, though, now up 8 and weve got the nasdaq punching higher by 3 points. So what may be causing this weve got to tack you straight to actually the top of the dow heat map to zero in on intel right there at the very top here. The Semiconductor Company is the leader here gaining 5 and a half on little to no news news simply is the extension of the a. I. Driven rally which looks like a gigantic pulling magnet from thats a record. To taiwan semi, that hitting a record. To and micron and broad dlption and klac, arm is not Holding Record here but other two are but this is a very big movement here on very little news speaking of records after clocking its 15th record gain of the year so far. Any gain for the s p will add another record high right . But at the moment we are up just a fraction or 8 points, earlier it touche