And just how high the a. I. Trade can fly. And tracking Consumer Spending trends ahead of the unofficial kickoff of summer its friday, may 24th, 2024. Youre watching Worldwide Exchange right here on cnbc good morning and welcome to Worldwide Exchange. Thank you so much for being here with us. Lets get you ready for the trading day ahead. We kickoff the hour with the stock futures check. Take a look. The futures are in the green. The dow would open up 20 points higher right now, the markets are looking to rebound from the selloff fueled by concerns of the fed and outlook for cuts that negated another Strong Quarter from nvidia. The dow had the worst day since march falling more than 600 points closer lower by 1. 5 . The nasdaq and s p 500 having the worst day since april with the s p on pace to snap a fourday win streak. For weeks, we have been debating if the earnings were the driver for the fed. We got our answer yesterday. Stronger than expected pmi numbers weighed on investors with
Of course nasdaq plunging 1. 76 . You have to be mindful we have to be on the lookout for whats called a whoosh or a crescendo of selling that causes a bottom. Usually intraday dont worry, im just putting you on notice. May not happen tomorrow, may not happen next week but it will happen if stocks keep going down like this and the bond market one day stabilizes and we are no longer fighting the darn fed, which we still are. One day that will occur. Not yet. But thats why you need to be ready with your Shopping List of damaged stocks, not damaged companies. Because theyre whats worth buyi buying on the way down you tend to forget about them while this carnage occurs i like to have objective my favorite is when they have down to up volume of 91. It means finally the bulls capitulate and theyve surrendered and therefore theres nobody left to sell which means youve got to do some buying. Now, todays a typically ugly day, not the kind where you get that whoosh bottom i like to look at count
Business that logged the worst session since march of 2020. 166 billion wiped out that is equal to the entire market cap of nike and amd or disney that cloud weakness spilled over into amazon. We will hear what amazon has to say tonight after the closing bell amazon shares off from yesterday at 1. 7 . Treasury yields picked up. The 2year treasury at 5. 12 thats the key level those are good facts you gave you can find a lot of companies uccompanies. Boeing ibm. Ge to lose that and still be worth a lot is the good news and bad news maybe good news and bad news morning. Uaw and ford reaching a tentative deal to end the sixweek strike. Phil lebeau is joining us with details coming out overnight good morning reporter good morning, andrew the final push for the deal was this week after the uaw called for more strikes ford earnings were set for thursday they finalized a deal. It kaulscalls for a 25 hike foe several four and a half years. There is more Profit Sharing for retirees here is shawn
After the biggest quarterly drop in profit. And paribas sees a rise in income as trading revenue dries up and israel continues strikes on the gaza strip with Prime Minister Benjamin Netanyahu warning the military is stepping up preparations for a ground assault. Good morning warm welcome to street signs. It is risk off in europe after the brutal day of selling on wall street which saw nasdaq plunge dropping more than 2. 4 the worst trading day since february that set the tone for selling in europe this morning. The negative sentiment stateside spilling into europe we are seeing heavy losses in the auto sector in europe driven by mercedesbenz and volvo also in the banking sector, Standard Charter dropping double digit at the open after the profit miss. We will detail all those stories for you. Those are the headlines for you and the sentiment dominating the market which negative. Ftse 100 is down. 80 . We are seeing a pullback with cac 40 down o. 70 this coincides with the rise in bond
U. S. History later on, the search for a successor is over at morgan sasan stanley. It is thus, october 26th, 2023 you are watching Worldwide Exchange. Good morning im frank holland. Lets start your day as we kickoff with stock futures we show you they are in the red across the board looking at percentages nasdaq is down 1 . The dow and s p also in the red. We will talk more about what is going on in a moment this action here after a rough session for stocks yesterday with the s p fall by more than 1 also the nasdaq now in connection territory it closed down nearly 2. 5 its worst day since february the focus of that selloff is on alphabet logging the single worst session since 2020 and the largest decline in market value of 166 billion wiped out. That number equals all of amd or disney shares are lower again this morning. Down 2. 25 we are watching surging yields. 10year treasury is at 4. 95 the 2year treasury is also showing a yield above 5 as well as the long bond. We will have more