Hour with our Investment Committee today. They are our committee let oos get a check lets get a check on the market. Stocks are marching higher we are right near session highs. Lets take a look at what exactly is driving things and for that, well start with josh brown because youre in the box right next to me right now what can you make of what this jobs report told us and why does the market continue to rally given the fact the economic prospects may be so dim . Im pretty comfortable saying this is the worst monthly jobs report any of you watching will ever see for as long as you live this is it this is the ugliest youll see we have lost 20 million jobs the all time record was two million jobs after world war ii and the worst we saw during the great financial recession a generation ago was 800,000 in a month. Youre not going to see this again. I think whats important to point out and i want to be delicate in the way i say this wall street is coming around to the fact that for the most
Markets. Here in the u. S. , unchanged this morning. Now we are steadily moving lower and lower. If you want to take a look in my terminal, the bloomberg chart here, i have the dow intraday. You can see we took another leg lower and we are coming down lower now at noon as well. It looks like all the pressure is on u. S. Stocks as the european stocks slow at the close. Scarlet within the dow industrials, what is driving the measures lower . Matt we are on retail sales because of black friday and cyber monday. The biggest loser, for example, is nike. Nike is the biggest loser on the doubt. There has been in a lot of talk about discounting today. Piper jaffray is concerned about discounting. Under armour. People are concerned about discounting at lululemon. Maybe that is the reason you see the weight on walmart and nike. Watson did say that cyber monday sales would be of 18 across the board. Disney is also a big weight. We are here friday . Scarlet i was not here friday. Matt you were sma
Industrial average are unchanged. The nasdaq moving down a little bit. Inre is very little volume equities. You might expect that after a holiday weekend. Function ofhe svs that breaks down volume in the index by industry. For example, in yellow, industrials, they are trading 37 less volume than they normally would on any trading day at this time, over the average of the last 20 trading days. That everything is down. The only thing trading up to the 20day moving average almost is utilities, because you see the big defensive stocks gaining today. Downl stocks, oddly, are after this. You very little ball volume. What about other Asset Classes . Matt equities can sometimes be boring. Be amazing. This is an intraday chart of the euro. 1. 567. The euro coming down against the dollar. Were waiting for mario draghi to pull out his big bazooka, whatever it takes to whatever you think he is going to do, he will do more. In the fed is going to raise rates. Money coming out of the euro and into t
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