Yesterday. Big seller, big buyer, big seller, big buyer. Really kind of crazy but there we are more or less back to where we were a couple days ago before some of the recent volatility, of course well get to why things have calmed down a bit. Lets get to our road map. It starts with that pause in volatility stocks pointing to a higher open youve seen of course the bond yields are stabilizing a key downgrade this morning shares of kcaterpillar lower wih concerns about the trade war with china and some earnings bright spots lyft and roku both surging ahead of the bell. Well also get to other names as well lets begin with the markets futures, as you saw, pointing to a higher opening on wall street, this following the s ps biggest intraday come back of the year global bond yields are stabilizing. Investors digesting better than expected trade data that came out of china in terms of exports there. An escalation in trade tensions between the u. S. And china has accentuated fears in recent da
The major averages might be down with an 1 of the stocks of down more than 3 . A combination of the earnings and fed. We said yesterday it seems that the stock is ahead of itself. The apple quarter was good but not amazing. Take a look at the fed area the stoxx will only clip. These are the more momentum they reacted to the comments from jay powell to a greater degree than the major averages at the lows down more than 4 . The worst day in more than two toths areas the stocks tend lead. Going back to march of last year before the volatility. The last alltime high prior to this year. The stocks and the s p are highly correlated but the s p went on to make alltime highs at the stock went lower. Due to be something volatility ahead for the s p 500. Resultst to look at the of the mixed messages from jay powell. They initially crept up then went up quite considerably when jay powell talked about how this was a midcycle rate cut. And it came back down when he said that doesnt just mean one. W
The important thing is the dow is sitting essentially near highs. Were not getting a large number of breakouts in either the dow or the s p 500. Exxon is at a new high, but this has been a story for the last couple days. Ge is essential there, approximator and gamble are essentially there. I think some of being highpriced names are not moving as much as p. M. Is sitting there, united parcel, illinois tool works, but the defense names have been sitting there for a while, boeing, there are a number of big stocks in the dow that is a long, long way from report highs. 27 , this is from a 52week high. Apple is a loan ways away from the amex, nike hit a high back in 2015. Down to about 13 right now. So remember something, boeing is one of the higher priced stocks. The do you is a all the more remarkable that we have hit new highs. A long, long way from that 52week high. Thank you very much. Lets bring in ben willis, along with politicos chief economics correspond ben wayne. Good to see you b
Report was anything but. In fact, it was the best number of 2015. Employers added 271,000 jobs last month. Thats about 90,000 more than economists were expecting. The Unemployment Rate inched lower to 5 . Hampton pearson digs into the numbers. Reporter the blockbuster october jobs report produced the biggest monthly increase in new jobs in nearly a year and saw the headline Unemployment Rate drop to 5 , the lowest in 7 1 2 years. Try to spin it some other way but it is really good news. I think this is good news. If the fed goes a quarter point i dont think that kills the economy. Long from it. Reporter the rebound in job growth even prompted a leading Federal Reserve dove, those Monetary Policy makers not in a rush to raise rates, to now say the first hike in nearly a decade could indeed happen in december. Ive said for, you know, quite some time that, you know, the real side of the economys looking a lot better. Weve seen substantial improvement in the labor market supported by our p