York fed president bill dudley will speak. And the u. S. Equity futures at this hour looking down. The dow is going to open down 42 points. The nasdaq down 16 points and the s p down 6 points. In asia the hang seng is down. The shanghai composite is also down. The nikkei is marginally up this morning. European equities at this hour are also in the red across the board. Again, well call it marginal for now and take a quick look at wti crude. Were looking at 50. 20. It has come down a little bit but hasnt cracked the 50mark in terms of a downward pressure. If you feel like the s p has not done anything for four months, you would be correct. Yes. Nothing. Nothing. Just as flat as can be. Now the things that trouble me. What troubles you this morning . What troubles me is our distance. Thats a whole other story. Politically, fphilosophicall and in the meantime, it looks like something could happen. Good or bad. Which is its good. I remember when you built the wall, remember that . Im going
That is what matters and it is not clear from todays action. Dow ultimately declining 6. S p advancing. 16 . Nasdaq climbing 3. 2 . We can call it mixed nevertheless it was still a day where the averages looked fabsz at one point but the gains couldnt be sustained. Because there are still so many unresolved issues impacting the overall direction of this treacherous market. Remember i told you yesterday we needed to see stability in a variety of areas before we got an investable bottom . Many people on twitter said the list was too difficult. It was really a canard a strong man, that nobody could get any sort of rally because i set the barr too high. That is not true. I look at what ive looked at for the last 44 years and i came up with examples. Look at some of these. First i said that europe had to stabilize, which i discussed last night as part of the negative impact from the war of sanctions between russia and the west over ukraine. When i got up this morning the european markets we
Points. S p up by 11 1. 5 points and the nasdaq up 20 points. You add those two sessions together and you get more than 600 points. Consecutive the 00point gains for the dow, this only happened nine times in its entire history. Granted, were talking about points, not about percentages. Look at that chart. This is something that is 17. 778. Weve got another 150 points. I dont know the i dont know the exact high. The trading sessions left before the end of the year. Or no, thats just before christmas. 0. 4 is what it was yesterday. You could say we were getting excited about 80 or 90point gains. If theyre two and three percentage point swings, then 400point swings. Like we said, to get two back to back days over 600 points or 700 points, you could probably find more. But on point, weve just gotten into this territory. Major indexes have slashed losses by nearly two quarters. Procter gamble, oracle, target. The Global Markets taking a cue from wall street. They were catching up yesterday,
Friday. You can see this morning theres green arrows up again. The s p futures up by 6 and nasdaq up by 18. Steve. Dupont is just breaking and my software is just loading and i dont have it. Were going to read the stories here and becky and andrew look up dupont there. Four dow components among the Companies Set to release before the bell. United and verizon. In Economic News arguing Central Banks need to set higher inflation targets to avoid dealing with low economic growth. Rosengren said he wanted to debate whether the u. S. Target of 2 was too low. Developing story out of the midwest today. An iowa farm holding nearly 10 of the states chickens when 5 million hens must be destroyed as a result. Iowa is among 12 states that detected bird flu since january including wisconsin which has declared a state of emergency. The risk of human infection is considered to be low and no human cases have been reported. Hormel warning it will sell less turkey this year because the viruss forced farm
Up lets get you up to speed on the markets. U. S. Equity futures are suggesting a positive open and implied open of 70 points for the dow and s p nearly 9 and for the nasdaq a little more than 24 points. Right where we were yesterday before the retail sales report. Heres the other big stories were watching today. Two economic reports due at 8 30 eastern. Well hear from kohls before the bell and this afternoon watch for nordstrom among others and in Corporate News General Electric is going to sell its commercial finance business. This is part of the plan to spin off most of ge capital. The business is worth around 5 billion dollars. The dow closed yesterday just over 18,000 so up or down or up a little some days and down a little other days. Flat lining still. Thats 2015 and really the story this year. Good today though up 72 points indicated on the dow jones up 9 on the s p. Nasdaq, the strongest in premarket trade up 24 indicated up 25 so far on the session. European markets are mixed