1. 75 decline for nas and 4. 78 tenyear note deal. And that is a considerable story well get to all of that. First, though, breaking news on General Motors and phil lebeau who has that for us. Reporter scott, we have q3 sales for General Motors going up 21 compared to the Third Quarter of last year with ev sales jumping 28 compared to the Second Quarter of this year. Why are we seeing increased sales . A big part of it is better production, the supply chain has improved year over year. As a result gms inventory the end of Third Quarter the strongest since q3 of 2020. That will be relevant as the uaw strike plays out in the days and weeks to come. One last note gm, scott, says it sees q3 sales for the industry overall in the u. S. At 15. 5 million vehicles. Thats an indication that the consumer has rebound considerably compared to where it was in q2 and last year. Phil, i appreciate it. Thank you. Thats phil lebeau. We saw the stock moving interday not on the sales numbers, but certainl
As another formerly highflying ipo files for bankruptcy and its preparing for its Public Offering and what the recent spate of lackluster ipos means for Silicon Valley and beyond and the bullish call on one housing name supposed lead well posi positioned if theyre here to make his case. Lets s lets start with the markets and dom chu. Its carnage for some more than others and Consumer Discretionary and the Media Telecom names are holding up relatively better which is why the nasdaq is outperforming just marginally higher by 0. 1 and the composite 13,239 and where youre seeing the pressure is the dow drindustrials and s p 5. The s p 500 is down 23 points and 4264. At one point today we were up 12 points on the day. Down roughly 28 at the low and tilting towards at or near the lows of the session right now. So losing some steam in that broader measure of the overall kind of stock market. You want to talk about some of the confusing crosscurrents that are happening right now in the macro k
Probably on the continued move in Interest Rates. Its a stunning selloff there today. Materials, energy, staples also decidedly weaker. Also tech and Communication Services have been about the only bright spot, there they, still hanging in the green and its kept the market picture from looking worse, as well. Nvidia, apple and amazon getting a lift today. It takes us to the talk of the tape and whether the Fourth Quarter will deliver investors as history would suggest as it does, or is this hills too steep to decline. Nice to see you. When you sat down, utilities, its pretty stunning to see a sector move to that degree. It is incredibly stunning and theres the yield impact. If you look at a dividend yield of 100 basis points less than the tenyear treasury and why take on the rick of compliance and revelation when you can buy it, if what were seeing within the Technology Side of things and theyre a bit more defensive and is that why were seeing so much strength in megacaps as they see t
The s p and dow. Nasdaq gains which it saw on friday. For the nasdaq and s p and russell 2000, it was the worst month in the year. For the s p and nasdaq with the dow slumping 3 . Nasdaq down 5. 8 for the month. Treasuries is the big picture. This is why we see the weakening. Treasury markets are picking up. 10year is now 4. 74 . The 2year treasury is up at 5. 11 . Mortgage prices are ticking higher. If you want a 30year fixed mortgage, you are looking at 8 . Check out the price of crude oil. Crude oil prices with energy back on the rise. Up to 91. 50 for wti. Brent at 93 a barrel. Joe talked about bitcoin. Picking up to 28,300. Up 4. 4 . Joe, the reason behind this is because gary gensler etf comments. I saw any Government Shutdown would delay any consideration for the spot etfs that everyone wants. Because the s. E. C. Staff would have been out and nothing gets approved. Does that mean i think they are thinking about it. They have been thinking about it check your watch. Thats a big
You havent had that and i think looking forward when youre trying to understand where you go with retail, understand that just because chinese consumption might increase on the part of the consumer the u. S. Consumer is going in the opposite direction. Im looking at names like i just pulled up el, estee lauder. If we think that consumer in china is about to turn a corner, if you believe, you know, donna hoe has good visibility over there, been over there a couple times, what he saw, stock up 2 1 3 , there are other names super reliant on the Chinese Consumer getting out and spending not only in the mainland but certainly around the world. Absolutely. And i think, you know, the Chinese Consumer also has saved significantly during the pandemic years, more so than u. S. Consumers so there is a lot of cash sitting on the sidelines leading to potentially be spent which could be pretty powerful, especially for some of these companies where stocks are down and out. I agree with joe that the u