We look at Dollar Strength and yields moving. Taylor if you blink, you missed it yesterday we had the fourth halt on the s p 500. Down p fell 7 and it shut for 15 minutes or so. We were able to close off of the lower bound. The bloomberg Dollar Strength also hitting a record. Cash is king. Francine we will talk a lot more about that. Its get straight to the bloomberg first word news. Senate passings. The second major Coronavirus Relief bill, President Trump signed any it into law signing it into law. Lawmakers are rushing to come up with phase three, a comprehensive rescue plan the administration estimates could cause cost 1. 3 billion. The u. S. Federal reserve and a dramatic late night step to help funds havets, the been under pressure because people are rushing into cash. A surprise move from the European Central bank, launching dollargency 820 billion Bond Buying Program to battle the coronavirus outbreak it will allow the ecb to focus purchases on italy and other struggling govern
Really something that has been weighing on equities over the course of this week. We saw it heating japan stocks broadly but tech feeling the brunt of it. Today we are actually moving a little high. It is a reflection of the other theme we are tracking today. The u. S. Inflation print a little hotter than expected but not too hot to really shock markets. We saw stocks on wall street climbing to fresh records. So that is positivity coming into the session. But as we said, a lot of unions in japan will be reporting on wage or pay deals this week, and wednesday will be the heaviest day or amongst the heaviest day for announcements before we get that first tally being reached and reported on on friday. Lets shift into korea now and take a look at what is going on in the session so far. Of course a market heavily correlated within the dynamics of wall street. Unsurprisingly you are seeing stocks moving to the upside. Tech names are the ones to be watching because we saw the likes of nvidia,
Dow, it lost another 56 se7 pois this morning and rebounding like crazy in the afternoon. Same method it fell at the opening. S p falling. Nasdaq surging 3. 7 . How much can you trust this bounce get this, a report from snapple on top of last nights rocket fuel which was a perfect report from semiconductor sky work solution look, i think we cleaned out the bear den when we opened down that fabled 567 dow points i think we wiped out the weakhanded investors. We dealt with mechanical issues that exacerbated the decline even as the tape suddenly got a lot more bullish as we told members, the actual owners plus. Com club, you cant chase a flying market. And right now we have a flying market you need to understand where we are. What caused us to get hammered in the first place unfortunately many of these issues remain relevant even after todays rally. First yield sword thanks to fry fridays unemployment report investors become risk averse as they creep higher, treasuries represent a better
Im wilfred frost, sara is off today. Lets get to the Global Market picture. This comes off another record close for the dow yesterday that was up 0. 7 . The s p and the nasdaq were up just slightly. Banks did well as yields rose. That record close and big jump for the dow flattered by one or two individual stock movers. The likes of caterpillar and 3m up significantly and the price weighting nature of the dow meant it had more of a significant gain than the dow or nasdaq gains for all three indexes. Slight gains this morning for the dow, the s p and nasdaq just lower. Tenyear treasury note, we hit a high of 2. 424 yesterday were at 2. 44. Fractionally love that level that will help the likes of the financials again today on the wall street agenda, a pair of economic reports and plenty of earnings september durable goods earnings are out at 8 30 a. M. , followed by september new home sales at 10 00 a. M. Boeing, cocacola, glaxosmithkline, Northrop Grumman will report before the open as
Off. 84 degrees at the shore this afternoon. Clouds will be moving into the Lehigh Valley. So that will limit temperatures to the 80s today. A chance of showers and thunderstorms this afternoon. Youll see sunshine and heat and humidity for delaware. The possibility of some of those storms firing up for delaware to ill break it down hour by hour with the future cast. Show you when those storms are most likely in your neighborhood when im back in ten minutes. First see how the roads are looking on a tuesday morning. Jessica boyington with an update. Watching mount louaurel arou new jersey. Everything looks good so far. Roads are dry for now. Also not watching any big volumes or delays. Looks good out there. Watch for construction. 295 southbound. Around route 13 john ramp. That is closed. Closed for the construction work for the next hour. Showing a little day over here. Possibly traffic being diverted around the scene. Again, coming from new jersey and heading into delaware. Heading in