Buying a ticket on american and hopping on united. The dow has come a little bit off the lows. Down 239 points right now, the nasdaq is down 1. 7 . So no problems at the nasdaq. And yet, the nasdaq is actually down about. 4 more than the dow. Now, of course the dow does trade nasdaq stocks as well. But the point is, it would seem that the data were seeing that the declines are not based on this trading issue, outage, whatever you want to call it, right . May be more global macro. The benchmark tenyear treasury note yielding 2. 2 . And thats actually a 2. 5 move, guys which is not quite double that of the dow. So bonds are moving more obviously overnight in china. This is turning out to be a seminal day for the stock market. We had 1,400 Major Chinese companies suspended in trading. Not for these reasons. Many of them suspending their own shares because the decline. And something i pointed out early this morning, guys, which is this chinas stock market value declined in 30 days has been
Thats right. It turns out the Federal Reserve is pretty darn worried about faltering Global Growth and its impact on the u. S. When it met last month. It wasnt about to pull the trigger on a higher fed fund rate. And when we found out about how pragmatic the fed was about whether to raise rates or not, the september minutes were released after 2 00 today, you could almost here the collective sigh of relief. And then the rush to buy stocks dow gaining 138 points. S p jumping 0. 88 . Nasdaq is also climbing. For weeks now we have labored under the impression that the fed was ready to tighten on a moments notice because it was sanguine about the economy. We thought they were happy about things. They were hardly sang wing. Thats what they tell us theyre about to tighten and the Federal Reserve is worried as most Business People and investors were about a china led slowdown could bring down what little strength our economy has. Given that last months unemployment number wasnt so hot you can
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