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even the initial drop was not a huge one, not even 1%. all three major averages are down. the dow is down 30 points. at one point, it was down about 100 points. iscould be worse, i guess, the way to look at the averages. this is despite the job report coming in much weaker than estimated, and on top of that, we got a services report that was weaker than estimated, showing the slowest expansion last month going back to 2014. interesting phenomenon we are seeing. take a look at the groups on the move to see what is supporting the gains we are seeing. it looks like it has to do with the drop we are seeing in bond yields. utilities are up and telecom stocks are up, and those tend to be the groups that benefit when yields are lower. consumer staples also representing the defensive groups. financials are far and away the worst-performing group. look at what is happening with the banking stocks. a big drop here in companies like jpmorgan, wells fargo, bank of america, and citi ....
the survivors are seeing less than the 20 day moving average. this is where we stand. the dow is down by a hair. of course, we are seeing some impact from gdp data from the second quarter coming in less than expected. a bit more pressure on the fed. s&p stillsaid, the managed to hit an intraday record high, 27 point 09. in the past month, we are up 5% on the month. we are off by a couple of points with a few hours left in the trading session. this is five months in a row for the s&p. gold is also that, rising, up 1.5%. in terms of looking at what is happening with the gold miners, those are rising. gold futures are up 1.3%. look at this, there and gold, all of them up percent. new point my main new point mining up as well. despite this slight positive in the gold it is still pushing to highs. david: what about stocks that are up on something else? ramy: non-earning. there are stocks moving because of other things in the news. first off, hewlett-packard, and they are s ....
hillary clinton and tim kaine kickoff a three-day bus tour that will take them from pennsylvania to ohio. today, they held a post-convention rally in philadelphia, where they both spoke. donald trump and his running mate mike pence were also in battleground states. trump at this hour is speaking in colorado springs. pence is speaking in ohio later this evening after participating in a motorcycle benefit ride in indiana earlier today. the past few days, the republican ticket mates have for many ofnatas the speakers at the democratic national convention. last night, trump used a rally in davenport, iowa to warn that he plans to strike out. mr. trump: i have been watching these speeches at night, and boy, am i getting hit. boom, boom, boom i am getting hit, and they don t mean it, and there s a lot of lies being told, but i guess they have to do their thing. i was going to hit a number of those speakers so hard, their heads would spin. they would never recover. pencethis ....
islamic state. italy agreed to let armed u.s. drones to take off, but only to defend american forces targeting extremists. day powered24 hours by 2600 journalists and analysts in more than 120 countries. i m mark crumpton. emily: i m emily chang and this is bloomberg west. coming up, fit at the latest in the tech parade. a of trackers may be gaining traction. tech made tech megamergers maybe you rolling in. and instagram takes a page or maybe a whole chapter from the snap chat labor. changeslatest product enough to take on the competition? first two are lead investors liking fit it and sc posts earnings. to 586 growing up 46% billion from a year earlier, suggesting new fitness trackers are getting a leg up. gross merchandise sales, the value of the goods that passed through the forms increased to $670 million. so are things turning around for the stock market rookies that went public last year. here with me to digest is cory johnson and the cofounder of elevation ....
dissension within the gop, trump said he is not ready to endorse house speaker paul ryan or senator john mccain. new york congressman richard hanna is the first house member to announce support for hillary clinton. in an op-ed, the retiring that donaldwrites trump is unfit to serve our party and cannot lead this country. italy says it will evaluate any use of the sicilian airbase to launch strikes against the islamic state stronghold in libya. italy agreed to let armed u.s. drones to take off, but only to defend american forces targeting extremists. global news 24 hours day powered by more than 2600 journalists and analysts in more than 120 countries. i m mark crumpton. emily: i m emily chang and this is bloomberg west. the latest inbit the tech parade. plus, tech megamergers maybe you keep rolling in. and, instagram takes a page or maybe a whole chapter from the snapchat playbook. are the latest product changes enough to take on the disappearing competition? first ....