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Probability an october fed rate to 90 Technology Leading todays come back nasdaq is higher up about 1 . We got our team of reporters standing by. They will break down todays whipsaw Market Action. First joining us is stephanie link interesting day weve had here we were on together at 10 00 market immediately went down i called almost a percent. Here we are back up. What do you make of it its a wild day its not over. I think its bad news is good news the data was soft. Both ism reports were soft well have to see what the nonfarm payroll will be tomorrow it will be on the softer side. What does that mean . Does the fed cut 60 chance for december cut, and speculation that maybe trump gets more desperate to get a deal done, trade deal done thats why we rallied. This is a pepsi market pepsi i like that it really is. Truly. They reported a good number, inline revenues. Market wa ....
consequences of russia s invasion in ukraine. it s sending shock waves around the world and the world economy growth forecast has been downward considerably and the same is true in the eu the german economy grows in the first quarter despite the headwinds of the ukraine war and supply chain crunch. ukraine s minister tells us he is confident in the strength s recovery. we re not destined to a recession. we have a good carry over to the expansion after the covid crisis but, of course, in very troubled water. the ecb warns that rising inflation and growth risks are exacerbating vulnerabilities in the euro zone saying russia s invasion of ukraine only makes matters worse and there s more weakness to come the data out of the biggest economy helps lift sentiment leading european equities higher in early trade we welcome you back and open the show with this, the ecb s latest financial stability review, it is warning that rising inflation and growth risks are exacerbat ....
Power lunch starts right now good day, everybody. Welcome to power lunch. Im Tyler Mathisen as michelle just highlighted, the dow and s p 500 hitting records again. But we are well off those levels at this hour nasdaq basically getting slammed. Down more than 1 . Big selloff in tech. Check out what is leading that nasdaq 100 lower Lamb Research down so auto disk down 15 now applied materials, invidia also in the tank today. In fact, the whole Semi Conductor industry on pace for its worst day in almost a year more on this group coming up forget ten, folks. Lets move on to 11,000. Bitcoin breaking past 11,000 just hours after topping 10,000 for the first time ever. Everybody is talking about bitcoin. Crypto currency up more than 30 in the past week and now up well over 1,000 this year, brian. Its like an auction. Do i hear ....
Been so much under pressure of late that rotation coming amid new fears about the impact of the republican tax plan. Joe, yesterday we give up 300 dow points today we give up 60 and now were negative by nearly 20. Has this suddenly become a sell the rip market becauseof fears over taxes i think that in the tech sector, yes, for the near term, thats probably the strategy longer term i dont know if thats the right play but i do think in tech thats what you want to do you want to sell into strength right now, but, again, thats a very short lived phenomenon, and i think everything thats going on this month is very short term oriented youre seeing a lot of moves in the Derivatives Market that are predicating what were seeing in the larger equity markets themselves, but its all short term in nature and once you flip the calendar into january you need to understand that the fundamentals will return in january. I hear you on that, but ....