Stay updated with breaking news from Katie stockton. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
worldwide exchange. good morning on this holiday week. let s get to the market picture. as we said, we did have declines for the dow and the s&p last week the nasdaq was able to hold on to a 0.4% gains came on slight losses on friday as we said for the week it s held slight declines, two in a row for the dow. this morning we are pointing low. a little bit of weakness and that s fed into futures markets. dow is down 13 yields slipped again last week ending at 2.35 on the ten ear. we ve slipped a little further over the week end. 2.34 at the yield on the ten year, short end of the curve they have seen yields rising so that flattening. it s a bearish signal. it s been one of the biggest stories over the past week we turn to asian equities, really a mixed session there today. we saw the japanese nikkei close lower again today down .6 of a percent. man, talk about a reversal of the chinese stocks the hong kong hang seng is up .2 of a percent shanghai composite up .3 o ....
and shanghai up 18 points. the dax up by a half percentage point. similar gain for the cac in france the ftse in london up by a similar amount the yield in the to two-year, up 1.763% also look at gold prices because they were under some pressure yesterday gold down about 1.6% 1,27 1,279.50 lowe s is recording 1.05. above the estimates of 1.02. three cents above estimates. the revenue number that i m looking at, at least sales, 16.8 billion that s a bit above looking at this forecast company sees fiscal year eps of 4.20 to 4.30 if that s not an adjusted number, it s below the 4.50 on the estimate here. 1.05, three cents ahead. the company is supposed to earn 87 cents next quarter that would have gotten the company to 4.50. they beat it by three, so they only need84 cents in the fourt quarter to hit that number maybe that s adjusted. if it s not adjusted, it s below the forecast maybe there s something there. the adjusted number may be different than the 4.50. looks lik ....
the dow crossed 24 how for the first time yesterday, but for the month the dow was up 3.83% the s&p up 2. 1% and the knanasdaq up 2.17%. telecoms led the way for the month. check out the u.s. futures those gains yesterday were something to see the dow jones crossing 24,000 for the first time the s&p 500 was up by 0.8 % yesterday. all of these things we have been watching closely you are seeing a pull back this morning. maybe related to what we re seeing in europe the declines there are more significant. declines in europe are because of the tax deal. you think absolutely. after we got so close last night. it s not just the declines in europe, europe is not matching 350 points of gains that we had here yesterday but the 350 points, that was at 4:00, all of this stuff they were supposed to vote yesterday. i m surprised there s not a bigger decline this morning based on the snags in the tax bill it was supposed to happen if we knew it would happen today, ther ....
day.is an exciting i wore my champion ofll the the world series. i figured you would get some slack on that. historical in so many ways. know taxk when did you reform could be achieved in america for the first time in 31 years, my answer is always the same. november 8 when president trump, you were elected president of the united states. when you put together, the great ideas on tax reform from inside and outside congress, i have seen many of you with us. remarkable leadership and courage from the men and women senate, and the especially my colleagues in the house. , mr.e house and the senate willingness to go across, save the table with us, and on the phone with us, to for yourne, but leadership, you would not be with us today. thank you so much. and let me finish by speaking directly to the american people. onre are three days to put your calendar. the first is new year s day. on new year s, our country will have a new tax code for a new you re a of american prosper ....
for the majors. we have the s&p 500 and the nasdaq ever so slightly higher and putting in new all-time highs and the dow down very slightly. of ate the third day government shutdown, investors not seeming to care. yet another round of record highs for both the s&p 500 and the nasdaq. david over at mainstay capital says that they are desensitized to drama in d.c., but the conditions for markets are over. that may suggest a 5% to 10% pullback is ahead. if we happened to the bloomberg and take a look at g #btv to a 83, the last shutdown was in 2013. at that time, the s&p 500 did drop about 5%. the rsi or momentum indicator had been overbought. at this time, we have the s&p 500 5% above its 50 day moving average, suggesting conditions are overbought. take a look at the rsi above 80. katie stockton, the head of technical analysis, saying sentiment is overbought. she sees a 5% pullback is left. it will be interesting to see what triggers this. a lot of agreement that conditio ....