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I learn more it's around San Francisco dot com surround San Francisco dot com connecting you with new morning to more than just waking up heading to work or getting the kids out the door I'm Marcus Washington and I'm Laura there feet with today and that will reinvestigate a story that can change your morning with the you need an alternate route to avoid trouble on your commute or you want to Bayer is more accurate weather forecasts will help you prepare for the unknown with a newscast that won't waste your time I promise if to make your morning the little easier so get up get informed and get going with today and the day watch on channel 11 or cable 3 these 2 musicians play the same instrument one is a rock the other 2 is more romantic They may sound nothing alike but they're in total harmony when it comes to breakfast at McDonald's whether you play licks or can't play a lick together we breakfast get into the groove with a $1.00 any size Macapp a premium roast coffee only at McDonald's your morning starts. 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This is a market wrap with no end sorry brought to you by Compaq Asset Management market wrap is your source for the latest investment news and expert views on the markets the economy and personal investing visit market rock with no dot com for more information about Moe and the shell Email your questions tomorrow at contact on any time and now here's the host of market drop by and sorry. Hello everyone and welcome to market and sorry and for the next hour I'm going to talk about the markets what happened today what to expect tomorrow in between whatever you want to know send me an email and I will be more than happy to share with you why nearly 40 plus years of trading experience looking at the numbers today that was down slightly 2 tenths of a percent 55 points lower 27006 $627766.00 s. And p. Down point 16 percent at 503300103 the Nasdaq was down point to 4 percent 8506 the n.d.s. Down point to 2 percent $80.00 to $60.00 by Russell down point 48 percent at $81584.00 interest rates higher today $3.00 basis points higher for the 10 year 1.77 to 30 year was up 2.8 basis points or 2 point. 231 crude oil had a good day today up $1.32 a barrel $5833.00 gold market took a hit today down $9.80 at $146440.00 So what happened today well this is the 3rd consecutive close lower for the Dow and the s. And p. Nasdaq managed to in a row down today. We're getting mixed signals on the trade deal so there's this cross currents there and that was what is impacting the market. There was some reports coming out of China that they invited u.s. Negotiators to Beijing for face to face talks even though the u.s. Congress passed a bill supporting protesters in Hong Kong late yesterday I talked about that how the Chinese might get a little bit upset about this whole thing the president expected to sign this but I don't think they'll teen rail the talks unless we start doing something overtly to help the protesters there in Hong Kong I think it's just a resolution we'll see what comes out of it. But there were reports that the earlier he is the chief trade negotiator from China he has invited. The counterparts for more talks to Beijing so that wasn't there was also a report that he was at a dinner in Beijing and Mr He also said that he was confused about the trade demands by the u.s. But believes an agreement will be reached I still think there is it could slide into next year if it gets there then we get December 15th there's a date coming up will the president. Increase the tariffs or not so we will see if we get it done before that then all of that gets put to bed and at least we have a cease fire and I think that's going to last all next year while we get into the election hoopla so that sort of falls to the background but you know u.s. China relations are also a little bit touchy right now because of the u.s. Senate and House passed the Hong Kong Human Rights Bill which could be signed by the president tomorrow or today sometime so we'll see how that turns out and all of this sort of cross-currents back and forth nobody knows exactly and until the deal is done as I've said all along with all the hoopla that we had our earlier on this month and last month that all of the deal is done the deal is done well I want to see the the eyes. Didn't t's crossed and I handshakes on t.v. Between the president and Mr Xi Jinping the president of China u.s. Conference Board index a leading indicator fell for the 3rd straight month I'll have to update that because every recession has been led by the early I leading index of indicators falling and if that goes down below 0 that would not be good and I've got a chart going back quite a few years that are short my seminar said it it is still positive what was positive until the last updated So with today's it I'll update it again and we'll have it at the at the next seminar so we'll talk about that. And at the at the next seminar at a lot more detail well settled at a 2 month high potential extension of the oil OPEC output cuts gold prices decline finished. Just finished the lowest price in just over a week so that was not good so stocks were down yesterday I think they're going through a consolidation but for you what we're going through we've got the gains now everybody is waiting to see exactly what comes out of the trade negotiations. Yesterday were down big on the news that the phase one of the u.s. China deal may not get done this year so will this be a long term concern for the market or investors already over making shoe is the senior investment strategist in Wilmington crossed during an interview she she she shared her thoughts and this is what she had to say I think Phase one does get done and I don't put as much importance on meeting that year and deadline because I think that the December 15th tariffs are going to be punted if it's not reached by then the important thing is not getting those next layer of tariffs on there because those would be hitting more consumer goods and we think would be more of an impact on the u.s. Economy but I think the fairly constructive signaling from both the u.s. And Chinese sides even in light of the passing in Congress of the Hong Kong Human Rights Bill which had the potential to totally empty stabilize the negotiations and arguably if this had been earlier in the year it may have totally thrown them off track and they seem to be continuing in a positive direction with the Chinese negotiators inviting us to China to continue those talks the market's going to continue to trade with the ebbs and flows of this headline data but alongside of what we're seeing is kind of a stabilization of the global economic data and global pm eyes turning up South Korean exports looking a little bit better even sure I'm an investor sentiment also looking better so we're encouraged by that yeah everything is looking good and I think as long as they're talking. As long as they're talking that's good and as long as we do not get any more tariffs on December 15th we're good as long as they're talking market goes back and forth thinks about it goes up and down and says Ok what do we do what do we what happens and it goes with the ebb and flow of the talks yesterday it was oh my God you know it's going to be next year and now we're hearing that that history he invited. All of the probably light hisor in Mr minutiae but he by it had . He and minutiae have been sort of the dogs of this talk every time they talk it's always Oh yeah deal is getting done deals getting done it's the president Peter Navarro and lighthouses or they have to come out and say Ok deal is done and what the Chinese Commerce Ministry says really also I think is much more of a wait because Kudlow and minutia on one side and they always come out and say oh yeah you know everything is good every deal is getting done it's getting done they always come out with positive things and then we hear the president saying no I'm not quite ready yet I want to see what the Chinese do in the Chinese are continuing to increase their demand so we'll see how this plays out. Dr Doom was talking today why the financial exuberance is irrational neutered Roubini put out an investor note today you know he's known as Dr Doom you've heard him over the years right here on Market Wrap and he he titled The note why financial exuberance is irrational and he stated that the disconnect between financial markets and the real economy is becoming more pronounced Joe Turner Cherno was the chief market strategist at vertices investment partners during an interview on c.b.c. He was asked for his if this isn't rational where we are right now and this is what Joe had to say you can make that argument for 10 years we haven't seen any significant growth acceleration in the last 10 years at best we do 2 and a half percent and then we fall back want to have 2 percent economy and we have the Federal Reserve giving us the liquidity underneath the market so I. I disagree with that I just don't see this pronounced I see it as a sea of liquidity and volume where you're getting cash plus a toaster and a cash plus a toast to world they've got to find some assets to be invested in Yes So I think he's right I agree with him there that I don't see any irrational exuberance or so many people still sitting with so much gash because they're scared about the market they're not quite sure what they want to do so we'll see how this plays out but that's my feeling and energy stocks were up big today led the market higher today but the sector has been the worst performer this year so could it be time to reel into some of these deals. Boris Schlossberg is the managing director because Sobran expense during an interview in c n b c He was asked for his view and this is what the foresaid say is definitely a value trap in my opinion I mean take a look at stocks like Exxon which supports a 5 percent yield but it doesn't have the free cash flow to cover the dividends it's actually financing it I think you're going to see consolidation in the industry and I think the rescue case for investment in energy right now is an oil has to go up to probably 6070 then that obviously makes all those stocks a much much more interesting that but in my opinion I think which if you really want to play this I do think the energy itself is a sector is grossly undervalued at this point is certainly one of the smallest planes of the s. And p. Historically I would much rather just be by the d.d. Which is the Vanguard Energy 3 and a half percent yield and you don't have any of Socratic risk if you want to bet on the idea of recovery just out of the 4 broad sector don't try to pick winners or losers. Now that's hard to do but there are some better ones in that and that's where the work comes in if you have to can do the work up on the mental work the valuation work and the technical work and combine all of that which is a lot of work when you go through a particular sector and try to find the better stocks within a particular sector when you want to have your portfolio basically diversified between different sectors and you want to find the best sectors need stock oil did settle at a 2 month high there was optimism that this was the highest those who seen in about 2 months if there is support came from a report that the OPEC countries and their allies are likely to extend the production cuts as well as renewed optimism around the u.s. Trade talks and that it's all trade I think OPEC if even if they do extend it right now they have they might extend the cuts into mid 2020 right now and the cuts that they have in place are supposed to stay in place until March of 2020 they meet on I believe is the 5th in the 6 in Vienna that's where OPEC meets and they're going to figure this out. Out but. If even if they do extend the cards it's limited this is strictly a demand equation as far as when we had a Uranian all come off the market we had been in Sewell and all come off the market everybody said oh my God this is going to create But there's we are producing so much more oil here in the United States that what happens in the rest of the world is becoming less and less significant and what OPEC does becomes less significant is still significant but much less the impact of their cause they're just trying to keep the market in balance so it's a demand picture if you get a deal done with China China gets better their economy picks up that in turn helps the export ing economy especially European especially Germany and German economies and the European and European economies get better the whole world gets better we are still the best economy in the world and the best growth numbers even though they're not roaring growth but we're still moving in the right direction that's where we are right now so we'll see how this plays out I think over the next month or so but OPEC even though we're 2 month high. $58.00 I'll take a look at the charts later on $5833.00 is where we closed up about another 2.32 percent to be exact gold prices declined to the lowest finish in just over a week today and that's where we see gold futures moving lower. I'm going to come out I have to go to a break and I'll come back and talk more about these and the Treasury yields which rose the most in 2 weeks on the 10 to both on the trade optimism on the talk about oh they are going to still talking which is positive I'm going to do the next seminar in the Bay Area on the 4th that's where I will be if you want to attend go to the Web site compaq dot com and register today as c o n p a k dot com debts December 4th if you would like to meet with me and sit down and develop a specific plan instead of running here and there in all different directions. Give us a call and set up an appointment in the Bay Area I will be there on the 5th I will stay overnight and after in the Bay Area on the 4th out to the seminar on the 5th I will be there so if you want to come and meet with me this is your opportunity to do so and that is December 5th that's Thursday I will be there you have to dial pound to 50 on your cell phone and say talk tomorrow that will connect you to the office and then we can set up that appointment for you will get some information for you what are you thinking what are you doing how old you are and then I have a specific plan for you same thing I'm going to do in Scottsdale on the night I will be there and minded once did Samberg one time going to do a seminar there if you want to come and attend go to the Web site register today compaq dot com c o n p a k dot com c o m p a k dot com or you can come and meet with me if you would like to have a specific plan for you. And that is going to be on the 10th I will be there you can come and meet with me that's pound 250 on the cell phone talk to Mo on the 10th the meetings in Scottsdale on the 5th meetings in the Bay Area stay tuned I'm going to take a short break and we'll be right back. On . Shaab over $100.00 specials early at Macy's Black Friday preview and beat the rush to get 50 to 60 percent off coats in jackets for the whole family and 60 to 65 percent off the mask and Hotel Collection betting to update the guest room and give the perfect surprisingly 65 percent off at the diamond ring pendant necklaces and more for more perks check out the star rewards you'll get benefits no matter how you pay back the savings line up at Macy's there she says savings of mailing and writing excluding the 5 days. To more than just waking up heading to work or getting the kids out the door I'm Marcus Washington and I'm Laura Garcia with today in the bay where we investigate the stories that can change your morning with the you need an alternate route to avoid trouble in your commute or you want to Bayer is more accurate weather forecasts will help you prepare for the unknown with a newscast that won't waste your time our promise is to make your mornings a little easier so get up get informed and get going with today in the day watch on channel 11 or cable free and now I thought from Geico motorcycle It took 15 minutes to take a spirit animal quiz online please be the cheetah. Be the cheetah. And learn your animal isn't the cheetah but the far less appealing blobfish. 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