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that we saw yesterday, increasing concerns about whether or not the fed is going to raise rates in june. does the fed threat then rally? i don t think. so i m not going to speculate on when they re going to raise rates. the bottom line is you know they re going to raise rates. it could be june or september, next year. what the real important question is what are you doing in the fixed income market if the fed s raise rates you? know they re going to go up. it s just a matter of time. and i get very, very concerned about the $3.5 trillion that is sitting in fixed income mutual funds as i look forward into a higher rate environment. they could be potentially at risk. talk to me about stocks. do you do anything differently with your stock portfolio? no, not at all. if you look at the market, i think the market is in great shape here. reminds me of 1982 to 2000 market where it was up each and every year. except for 1990 when down .5%. one thing that you have to look a ....
168 points to the down side. at the lows we were down about 185, 186 points. so we re off the worst levels of the session so far. but an interesting carry through from yesterday s trade when it was all about the fed minutes and the idea. the possibility of a june rate hike from the federal reserve and that really drove markets kind of a little bit more towards the volatile side. today, most is to the down side in terms of moves. you can see they re off by 1% for the s&p 500. utilities and staples have taken up the lead if can you call it. that up about a quarter to a third of a percent. they re showing signs of life here in this particular down day. the financials are interesting to focus on because so many of them, including regional banks, were such big gainers in yesterday s trade. on the idea that interest rates could rise on the longer end and the shorter end and maybe expand the yield curve and give them a profit margin. the net interest margins, you ll hear tra ....
ford, all of these basically weaker than expected although slightly better than expected for fiat and chrysler. the real concern is when you look at car sales. we re not talking about suvs and pickups. we re talking about car sales. the numbers, that s not a mistake there. that is accurate. fiat chrysler cars down 39%. gm down 25%. same with ford. toyota, down 15.9%. what is happening here? a couple things. moderate gas prices are having an impact. people are saying if i have gas at, what, $2.32 a gallon on average in this country, hey, it s still relatively cleep to where it was a few years ago. as a result, you see people rotating to crossovers, suvs. so when you take a look at the japanese automakers sh the reason we re showing you the stocks is because these guys have more exposure to the car market in north america relative to gm, ford, fiat chrysler. keep in mind, those guys have much greater exposure to trucks and suvs relative to the japanese automakers. any way ....
omaha. class a stock up more than 11% so far this year and that, of course, outperforms the major averages. our becky quick is live in the aforementioned omaha. hi, becky. tyler, thank you very much. warren buffett is called the oracle of omaha for a reason, he made a lot of money for a lot of people. he had a gain of 24.8% in shares of berkshire. that may not sound like a lot but it crushed the return on the s&p 500. he built up millionaires over time and a lot of those people have loyalty to him. that doesn t mean every investment he makes is a winner. he is the first to admit he made a lot of mistakes. the winners start out looking like losers, too. the jury is still out on a stake he s been building up over the last 4 1/2 years, ibm. right now it looks like a huge loser. he built up an will 8.5% stake in the company itself and he s done that at the average price of 1 p$170 a share. for now, buffet is standing by ibm. we feel fine or we wouldn t own it. and we ne ....
we begin though with a former high flying stock in turmoil. shares of chipotle down again. the cdc says it s investigating another more recent outbreak of a different strain of e he co e. downgrading the stock to neutral. the shares are down 4%. jane wells has the latest. jane? hi. quoting a customer on the website saying i don t know how much more of this i can take. yet, they still don t know the cause for even the previous outbreak. the latest outbreak, five new cases of people in north dakota, can, and oklahoma falling ill between november 18th and 26th. they all ate at chipotle. this is a different strain from the original and larger outbreak that began in late october. that sickened nearly 50 people from coast to coast, forced the closings of dozens of stores in oregon and washington which were then thoroughly cleaned. there was a norovirus outbreak in boston this month. this tl was a outbreak in southern california last summer. it s a lot of stuff. and one re ....