Surveillance on tv and radio alongside Lisa Abramowicz im jonathan ferro. Your equity market positive by 0. 2 on the s p come on a threeday winning streak on the s p 500. If you want to focus on the data, the week starts today. Lisa ppi today ahead of cpi tomorrow. Its interesting whether the Economic Data is what is driving gains we are seeing in stocks in frank the in bonds was arguably which is arguably what is leading stocks. Whether it is haven trade or listening to the fed speak or just a blowoff of the tough we saw last week. Lisa we talked a lot about it jonathan we talked a lot about in the past when he four hours. The fed is comfortable with the market doing the work for them and the work the market is not doing the work for them. Lisa nikki bowman later this morning. Even the hawkish talk seems to be dampening the tone a little bit basically saying maybe one more hike is needed but softening the tone around the edges, it seems like everybody has been taken off guard with the
Prompted widespread fears and borrowing has prompted collapse. Fears of and, information sought on accounts involved in the elections. We have struggled to hold onto the gains we saw earlier this morning. Today, the u. S. In the red. The only sector still up was technology, but barely. We had that rally, but tech lost ground based on some of the details on the tax reform bill. , want to pull up this chart 879. It shows you how investors have been anticipating the tax bill will be bearish for tech stocks. Shares underperforming since the end of november as more details that come out on tax reform. David it has become a real problem, especially in asia. We have been down for seven days. Four of those dames with the kleins of more than 1 . It has been a drag. Declines ofhose it more than 1 . It has been a drag. Lets look at markets in new zealand, kiwi dollar underwhelming. Gdp,straight come big day, rba Rate Decision not to do anything,. 1 . Yields lower, bonds up, aussie dollar unchange
For continuity or change. , i am to daybreak asia haidi lun here in sydney. Betty i am betty liu in new york. Talking about Hurricane Harvey Recovery Efforts and now we are focused on Hurricane Irma and how the markets are looking at this. 108. Nt to pull up a chart, 4 benchmark catastrophe bond index, which shows you how much these bonds have fallen in the face of these hurricanes and storms. Matthew,ee hurricane the big decline we saw in that. In 2012, this is hurricane they, which devastated northeast region. I remember vividly being out of power for over a week. This on the right sound right hand side is Hurricane Harvey so far. Milder than the catastrophes of the other storms. However, many are saying that Hurricane Irma could be just as bad, maybe even worse than what we saw back here in 2012. Think you dont want to about it that way, but barclays said it could be the most expensive storm in u. S. History. You can see that price action playing out in with orange juice futures, su
All three major averages taking a hit a day after the fed raised rates as investors say ok, now what happens, after they waited for that Interest Rate increase for so very long. The focus has been shifting back to commodities, which has been the tale wagging the commodity dog. Take a look at my terminal. You will see this illustrated more in detail. A broadbased selloff. Utilities are doing well. Rates are coming back down. Otherwise, steep selling of financials, tax, consumer discretionarys, industrials all lower. It is still materials taking the biggest piece on a percentage basis. Crude oil is falling. We have seen a resumption of the selling. We are seeing wti trade near a sixyear low. Oil,e very least for crude even though it has been bouncing around, obviously the losing streak it has been on as the glutton continues in the oil market. Betty it does, and there is a glut in the Metals Market as well. Pricesyou have gold falling. You are looking at a multiyear low of about five yea
S p 500. Specifically all major averages seeing the high. If you look at the s p over the course of the day, you have seen rather than the more dramatic volatility that we have seen lately, yesterday, for example we bounced between gains and losses, well bring much hung on to gains for the entire day. And built upon those gains. Groups who at the are on the move. We have technology that has been leading gains throughout the day. Helped in part by microsoft earnings and also the general bounceback in large technology, which has been suffering this year. Its a more broadbased rally, all of the groups in the s p 500 are higher. Consumer discretionary is the lag, amazon is in that index, not in the technology one. That accounts for the relative underperformance. Industrial at number two. We been talking a lot about tech today. Lets switch to industrial. Honeywell without with earnings this morning, the Company Matching estimates. Unlike boeing, we heard from the other day, Aerospace Sales