Is not often the way we end. On thursday and friday you werent here thursday and friday no. It continued. The bill murray bottom, which we were up 300 points on that friday, suddenly up 1200 points. We made back about twothirds of the losses. If we were to close down over 200 today, the dow would fall under 25,000 so were back to 25,200 again. The art cashin has the from a month ago where people were like, oh, my god it needs to be kept in perspective. 291 on the tenyear. Youll look at that later. That 2. 6 or 3. 0. What did he say he said thats the question 3. 0 is more likely. In asia, some markets are still out now. They have been closed because of the Lunar New Year the nikkei down by 1 . The hang seng down by 0. 78 . In europe, many of the markets are mixed. The dax is flat. Cac is up 0. 2 the ftse down by a quarter percentage point if you get to treasury yields, the tenyear is what weve been watching just below 2. 91. Home depot just out with quarterly numbers. Retailer reporting
Looking at the worst week in two years with all of the averages well see what happens today its been interesting to watch volatility to see whats going on meantime, lets take a look at whats happened overnight in asia the nikkei was closed for a national foundational day holiday in japan the hang sentence down over 0. 1 shanghai composite and stocks in south korea higher with the kospi at 1 . In early trading in europe, you can see things are in positive territory as well. Big gains. Gains of 1 or better across the board. In fact, the dax is up by 1. 9 right now. Then if you take a look at treasury yields, this is a big story. What kind of inflation do we see. The tenyear is yielding 2. 88 this week, were going to be getting inflation data cpi on wednesday and thats something that else to see if inflation is really out there. A couple big stories were watching before we get back to the markets. Vice president mike pence said the u. S. Is open to talks with north korea but will continue
Us the upcoming meeting between qualcomm and broadcom and a lot more lets give you a quick look at the futures at this moment we are set up of a higher open, this is has not been a great tale for the rest of the day given the volatility that we saw last week. We did end the week on an up note have not put the two backtoback there is germany though and the rest of europe like we are really, really weak. Come on, everybody is down the same amount, it just does not make a lot of sense. Tlhere is a shared concern 2. 86 calmer than they were at 3 00 a. M thats important. We can see wti is having a little bounce as well. We start with the course markets that bounced back after the worst week of stocks ins southeaster since 2016 you know what jim says about the futures. Plus, the white house is rolling out its budget and a new 200 billion infrastructure. Key question, how are they going to pay all of that broadcom continuing acquiring qualcomm it would be the largest deal of technology of all
You know its been a tough day in the markets when we bust out prince yep, investors were crying as the brandnew fed chairman, Jerome Powell testified before the House Financial Services committee for the first time in his new role and sounded hawkish than they were expecting sent the dow down 300 points steve. Cant get over the prince reference. Respect. Very cool. Heres the question will powell be singing a different do you know on thursday you know, thats possible fed chair j powell was doing just fine in the testimony until congresswoman maloney asked him what would change the rate hike forecast from three to four. He started by saying a strong economy. And heres what he continued with we have seen fiscal policy become more system you lative. I think each of us is going to be taking the developments since the december meeting in and the writing down our new rate paths before we go into the meeting and i wouldnt want to prejudge that. Jp morgan said todays comments appear to open the
Crazy we were making deem opinionic references to 666. We were playing compression shots of the dow falling. But then he went dark for two weeks while the olympics took over and something really strange happens. Honey, wake up, you wont believe the dream i just had. Maybe it all was just one crazy dream because everything is awesome again while we have been gone the market has been in the midst of making an epic comeback. Almost 10 from the lows, oils rallying, even bonds are starting to rally. So everything awesome again and are we heading back to alltime highs . Guy . Welcome back. Welcome back to everybody. Who sings that song for the folks at home . Teagan and sarah. Whatever, whatever. Its nice. Nice. Couple fridays ago the s p traded down the moving afrmg. We saw we all collectively said great trading opportunity to play for the long side. Being completely honest i never thought a week and a half, two weeks later wed be right where we are now. Its much too far too fast. Ive been