Facebook, amazon. A whole lot of the names moving this market higher giving back those gains. Joe pretty ugly all around. Off the lows but nowhere near the highs. Is,ess the consolation yesterday still up substantially on the week. Scarlet positive on the week. Down on the day, down on the year. In 2020. Ones down 9. 2 lets check in with our market reporters. Abigail im thinking about todays two top stories. Of course, the fed rate cut, the emergency rate cut, and the stock selloff. Investment traders thinking the fed has not done enough. There was another period of time when bond yields fell and stocks fell. That was in 2018. At that time, fed chair jay powell they were in a hiking mode and he indicated they would hike. They did. And became more dovish stocks fell off. Between that selloff and this selloff, even with the fed cutting rates, stocks going lower. Investors not liking the messaging, it seems. They should not be worried about message response although perhaps a looking for
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The names of 28 people who will control the company will be discolsed in a filing. The e Commerce Company out of china will likely become one of the largest tech ipos to date. And, not so fast one day after reaching a record close tuesday, the s p trades to a new high wednesday. But then pulls back to end the session down 2 points. The dow also in the red trading 43 points lower, the nasdaq lost 12 points. Gold contiues to melt down. This time by 7 and oil drop 1. 15. Trader Todd Horowitz of average joe options joins us for a look at the trading day. Good morning to you, i have to start with that treasury topple. What is the word from the Trading Floor, todd . Good morning, angie. Well ill tell you what were seeing it depends on who you talk to. If you talk to the bulls, all youre seeing is an arbitrage selling for indebted high prices and buying american debt. If youre a bear, youre saying that somethings got to give, the bonds, the Interest Rates are going to low, bond futures are go