flat.r yen now we had seen it move lower throughout the session but we re off the lows of the session and is vix is what everyone watching. 45 is how we re trading on the vix. that s like a quadruple from what we saw last week. modestly higher. i was interested as to why we didn t see gold spike more. to be about equities and commodities kind of taking on the chin. raises the question whether it s fundamentals or technical. we ll be die jekting over the next two hours. for the first take, there are three top stories. you have equitys and what is the fed going to do? david? > we re joined by michael mckee, bloomberg international correspondent and the reporter bloomberg news. what happened with the dow yesterday? i ll pull up a screen that tells story of two days in one chart here. one on the left is what happened on friday when we had those out about jobs. the one on the right is what happened yesterday. michael, what does this tell us? tells us that we saw return inflation e
yesterday s record drop played out. this is a time lapse video of what happened with the dow down 200, down 300, down 400 as you got closer to the end of the day, down 1600 points almost at one point by the end of the session, 1,175 point decline. decline of 4.6%. this is the biggest point drop in history add it up, the dow traveled 5100 points yesterday down 4.6% does not rank in the top 12 or 15 declines we ve ever seen the biggest decline was october of 1987, a 22% decline this was enough to get peoples attention. the dow and s&p lost more than a third of their 2017 gains just during the last two sessions if you were wondering what else was going on behind the scenes, volatility this was the big story volatility is back yesterday we were talking at this time about volatility being up at 17 that was a big deal. by the end of the session it was above 35 for a gain of 115%. this morning you see volatility up once again, another 14% this morning, 4262. mike santoli, this is so
kate upton has gotten involved. ashton kucher got involved. but kate upton got involved. let s bring up pictures of ashton kutcher for andrew. kate upton got involved. you didn t see the paper yet? i didn t see the physical version. uber. is that what they? come on. buber boom. they got in trouble. did you see the nerve that twitter had a party and they had plastic cups with like i don t know animal house type of thing. i guess. nobody has any fun. i understand. welcome back. she had a family reunion. there were some complaints. congestion. it was your family. no we had a great time. serve there. most of them are still there. it wasn t an actual revival. no. they had a good time. we had a lot more to talk about today but we had 30 people there in two houses. that sowns fun. especially for kids. it was. movie watching at night. out on the beach all day. did anyone say hold this beer while i do this? no. no. you know that one ri
dovish fed, the spread continues to steepen. that is more on tax reform, 78 basis points is the difference. the pound just turning positive. a macron-merkel-may lovefest over the past few days. i do want to bring in breaking news over the last half hour from ge, a huge mess on earnings at $.29 a share versus estimates that $.50 a share, and it cut its full-year forecast. the oil and gas environment remains challenging for its spinoff of the baker hughes ge business. what was the huge mess on earnings and revenue came in stronger miss on earnings one revenue came in stronger? typically on an earnings day it moves just about 2.8%. what doesions about it do to flannery, the ceo? david: it is typical for a new ceo to clean things out, but this is really a big one. jonathan: it says a lot what was going on and maybe for john flannery, he has the appropriate whipping boy to drive things forward. it gets a decent position because these are just numbers and got his. david: he has g
since may. as we said, big beats from cat, 3m and utx zpl global same sales closing 6% for mcdonald s. and pipeline concerns before the ten orders again shipments may only be half of what was expected. stocks are poised for a strong open help the by results dow components and caterpillar and others, a significant increase in demand for construction equipment, 3m and utx beat on the top and bottom line and upbeat guidance for the full year those are going to be the stars today. some of pretty amazing, caterpillar appepared back the workforce. it s almost as if they pared exactly the right time when orders explode, you get that leverage and you re seeing earnings we ve been waiting for caterpillar i would say since 1983 or 84, finally getting the breakout 3 m chugging forward greg haze, great organic growth. i don t want to overlook this stanley black and decker, tools up 9%. some numbers are rather extraordinary and catching attention because these are the same numbers th