Answers as power lunch from d. C. Begins right now. Welcome to power lunch. Here is what else is on the menu today. So much for d. C. Drama crushing the markets. Investors shaking off the political turmoil for a day. Is it rally on again . And for how long . Plus, for foot locker today, no thrill of victory. Just the agony of defeat. This stock sinking and smelling like an old shoe. Two allbeef patty special sauce pickles onions all sesame seed bun for mcdonalds. The burger boom alive and well on wall street. Brian . Kayla, thank you. And i want you to know im keeping your desk clean. Ive been using it. A one of the wildest weeks we can remember. The president getting ready to depart for his first overseas trip since taking office. Reporter when he talked to white house officials about the trip they used words like historic and words like reset. Both in terms of domestic politics with a tough week in washington, d. C. And in terms of the International Picture and resetting the debate i
A little bit harder today. Give you a check on oil and gold and bonds too. Theres so much conversation about what the fed may do. Even here at delivering alpha have you heard from some of the largest and most respected Money Managers in the world with their commentary on the fed and the markets. Were going to talk about that. Also word today that atlanta fed president Dennis Lockhart is stepping down from his post in february. That is big news. Thats why we have senior economics reporter Steve Liesman joining us on set as well. Lets discuss whats taking place in the market. Its been an interesting few days. Josh, volatility is back, and it is back in a big way. No question about it. You had these giant bullish candles everywhere yesterday. We had erased all of the loss, and in some areas we were actually gaining from thursday nights close. When you see that kind of action and then the next day its completely negated as though it never happened, that tells you Something Big is going on.
Percent. Then nasdaq fairing the least worst of the bunch. Almost flat. This is commodities take investors on a wild ride today. Dominik chu has all the details on what has been a volatile ride for crude, copper, and commodities. Its playing out elsewhere in the markets as well. The stock market will focus there to get things going. You can see health care, the only sector thats positive so far. The intraday chart, you can see ups and downs. Were off the lows, the worst levels today. Focus on these two sectors. Materials and energy. Two of the laggards so far. If you take a look at some of the Bigger Picture commodity items we talked about, right, first of all, if you look at the s p 500 intraday and then take a look at copper, right . Copper actually positive on the day here. Up, again, so were seeing some strength here in copper futures at least on this particular side. If you look at some of the other parts of the market as well, copper yeartodate. Remember, on a big slide. Then, of
Markets typically respond to rate hikes and whether this time will be any different. Obviously weve heard how the playbook usually goes in this time. Look, the fest rate hike usually is absorbed okay by the stock market. Theres that old saying, you know, three steps and a stumble or three jumps and a stumble. I have been focussing on the fact that in general were farther along in economic and the market cycles than we typically are when we get to the first rate hike like so many others things. This element of this cycle is different. You have Profit Margins that have already been higher and profits have been falling for companies. Obviously stocks are somewhat more expensive. Were actually down a couple of . I hi a lot of this kind of fouls the picture a little bit in terms of whether history can be a decent guide as to how the markets deal with this. You make the point that unless some if no immediate rupture occurs, posthike, you might see some buyers come in and you decide the water
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