What it means is that crude is having a really tough day. You have Oil Producers from saudi arabia, others, really trying to renegotiate a deal to reduce the output, but crude is not getting a lift on that new. Getting a look at the Retail Stocks we were looking at, after the massive route that we had, the Smallest Companies in the s p 500 are retail. Taking a look at the midcap index, macys was removed on the s p 500. 13 other companies within the s p 500 ended last week with him lower market values and so you had Companies Like cap, kohls, nordstrom, capri, haynes, getting hit hard. So if they go, if they follow the precedent set by macys, they could potentially be getting kicked out of the s p 500. Just an incredible move. One of the Big Questions is it the fed would start lending to junkbond Companies Like macys. One thing that you noted a lot in your research is what is systemic, right . Who is providing the jobs and what classifies something as too big to fail, if you will. A lot
Talking about what is happening with the coronavirus and appointing Vice President pence. As he was speaking, one of the cases of unknown origin that happened in europe as predicted if you look at the treasury now, you see the 10year is yielding 1. 297 . Not negative yet. President trump speaking about preparations last night. We are very, very ready for this whether it is going to be a break out of larger proportions or whether or not we are at that very low level and we want to keep it that way he has tasked Vice President mike pence he also addressed the market response i think the stock market will recover. The economy is strong, consumers are incredible thats why we are doing well and other countries are not even before the virus our consume rp is very, very strong very powerful economically. And the president put some of the response of the dow to the democratic convection. Are you suggesting Financial Markets are overreacting here . I think Financial Markets are very upset when
Been seeing a lot of industrials, energy companies, airlines, travel Companies Taking the brunt of the selling. Now it has spread to the leaders. 4 , then a little under worst day since october 28. I think that is one powell said neutral. All down more than 4 , basically the big laggards today. That is what you get. Scarlet the dow and s p negative on the year. Nasdaq Still Holding onto a gain of 2. 8 . Lets check in with our market reporters to say what they were monitoring. Abigail, get us started. Abigail i am thinking about the selloff we had on this day and putting it into the context of a chart we have looked at frequently, because it feels like it is from out of nowhere, but many the surface there have been indications we could see this action. This chart goes back to the beginning of the coronavirus outbreak as we were reporting on it. A little more than a month ago. In yellow is crude oil and copper is in pink. Both of those commodities down about 10 . At the lowest crude oil
Joining us now is the close markets the Global Market strategist at nova scotia nov esco. Where are you now on that call given that a lot of people are starting to say, it is a bull market and we may have to live with that and perhaps we can look elsewhere. Are you looking elsewhere are you looking elsewhere . The market is broadening and moving into value valuable parts of the market so it is not just the very narrow market that you saw in march or may, you are getting a sign from markets that this is healthier and there is more participants and so far, the earnings for the Value Oriented Companies have been good . Jon is he getting less bad or is the outlook for the markets improving . Things are moderating and that is what you would expect in this part of the cycle but what involved but a lot of investors missed is that the market priced this last year. 11 months ago, we were down ninth 9 in 13 months so that was a market that had already assessed what was likely to be a weak econom
and if you are south korean, you are now officially a year younger than you were yesterday. we ll tell you how a new law has changed the way koreans think about age. but we start with the situation in ukraine and the horrifying details of a russian missile attack on a restaurant in kramatorsk. 11 people were killed and rescue workers have spent most of the day going through the rubble, looking for any survivors. kramatorsk is in ukraine s eastern donetsk region. it s under ukrainian control but close to parts of the country occupied by russia. this was the scene after the attack. it was a popular, busy restaurant, with many families eating out before the nightly curfew. dozens of people were injured, the missile also damaged nearby apartment buildings and shops. among the dead were two 14 year old twins, yulia and anna aksenchenko. president zelensky said the attack showed russia deserved defeat. our correspondent andrew harding has the latest from the scene in kramatorsk. i