Deeper contraction. All of this being wrapped up along with concerns about how the Biden Administration may be quadrupling tariffs on chinese goods. Along with that, dont forget, we have u. S. Data showing Consumer Sentiment declining, rising Inflation Expectations placed on one survey. We will keep an eye on the u. S. Cpi numbers. Asia stocks are treading water. Although we are seeing a bump up on the hang seng. Keeping in ai on the offshore you on as it moves toward the 724. In keeping in ai on the japanese currency, along with jgbs. We got the boj in todays purchase, reducing the number of bonds for five to 10 year. This, as some say, a test balloon for scaling back its bond purchases. Take a look at the data out of china. This is a broad measure of credit. It has declined for the First Time Since 2017. This is when the data first started being the concern here is the pbocs ample liquidity that the household firms are not biting, adding to the list of concerns related to china. Paul
Does seem to be pretty good between now and the end of the year. Well, i mean, look, just from a Bigger Picture, we talk about trend a lot and i think you have to respect the primary trend, and so from that standpoint lets review what went on last week, a holidayshortened week but so what. A new record alltime high in the nasdaq and the dow, and then you had the canary in the coal mine that was supposed to be down and a new 50week high in the lts so you can look at all these things and say im going to go the other way of things. Youll be on the wrong side of history of over 100 years of market data that we have Bigger Picture the trend is still higher doesnt mean that you cant have a deterioration in the internals and get a correction of course, you could, but im just pointing out thats not whats happening now get a day like today, the market hits new alltime highs at the open and people pull back and whats the reason . Is it north korea . Welcome to sell on that news if you want, but
Gains and losses for much of the day before surging in the final hour of trading. The dow travelled 5500 points in total when you add up all the moves. With yesterdays rally the dow and nasdaq recovered about half of mondays losses show you whats happening in asia. S generally improved asian markets were mixed, flat hang seng lower by almost 1 shanghai off by 1. 2 europe this morning, positive across the board gains of a half percent generally. Lets go show you whats going on with the yields which has been so interesting in the wake of that wage data on friday the 30year is yielding 3. 03 . Tenyear note at 2. 7 2. 76 we had gotten up to 2. 88 on monday that led to a lot of selling its a key level well talk a lot about as we move through the morning. Fiveyear note at 2. 49 the twoyear at 2. 0. Well have more on the markets as you can imagine in just a moment we have also a breaking Corporate News story making a lot of waves steve wynn is now officially out as ceo of his Company Followin
Later, karen will tell you the one bank stocks that she says is a screaming buy. And jamie dimon, its not your stock. Oh, wow, man. We start off what it looks like for a retail armageddon once again. Now covering your yeartodate lows t. Main calls were, once again, Department Stores. Macys yeting crushed 8 a. Retail selloff in the other Department Stores. Is this the retail bottom . If not, what do we need to know and see, to see that weve hit rock bottom . Guy. The retail bottom in the names you mentioned. Macys, you say valuation, karen can speak to this probably eight times forward earnings. You talk about negative eps growth. You say, where is the core . Im not sure. You look at a nordstroms, its had an interesting move over the last year, yearandahalf. You say at 13. 5, 14 times forward earnings. Why cant it trade . Different companies i know, i get it. But that whole space the anchor stores are in a lot of trouble. I dont think theyre tradeable at these levels at all. Well, there
Stolen as well. We dont know where the tax returns are. Clearly stolen. Double standard . You be the judge. Eli manning calls inaudible, kind of. Peyton says omaha. Eli says trump. That play is build a wall. Get it . Keep this in mind. Its monday, youre up. Im glad. Mornings are better are friends. That was good. Fantastic. It does sound like theyre saying trump. They might jub. Hes not playing politics. Him and his brother peyton gave money to jeb bush. He has denied thats what they were saying. They were in england. Maybe thats what he was saying. You guys decide. What do you think . Does sound like trump trump trump. Meanwhile we start with the race for the white house. Donald trump going all out in Florida Holding a rare evening rally as his Campaign Gears up for the homestretch with just 15 days until this election. Fox News Senior National correspondent john roberts live from st. Augustine where trump will be later today. John, no one will say that donald trump is mailing it in i