Out. But right now, just one quick s p indicated up about 18 points that would also put the s p at question for you, target missed and raised questions about this. Was that a target specific an interday record problem . It looks like holiday sales were the nasdaq up about 55 also pretty good. Yeah. Putting it at an interday and target was able to maintain record the futures all comfortably margins. Meaning, they ran out of above that right now inventory on some issues they werent overstocked on some of those things. I dont think it was a problem the yield right now in the with the consumer. Walmart did well, right walmart had good numbers amazon had good numbers. 10year below 1. 87 . I think its problem. Welcome back, everybody. Take a look at the futures emblematic of problems they had the dow, the nasdaq and s p 500 in a few areas specifically china premier speaking out all set to open at new intraday electronics and tois not growing as much as they thought. Levels well see you tomor
She pledged to pull britain out of the european Single Market. She said staying in parts of the customs unit is preferred. She aims to avoid a cliff edge. She wants transitional arrangements for Financial Services and no more huge contributions to the e. U. Budget. We are leaving the e. U. , not europe, she said. What a day to use our wonderful wcrs function. The big mover i want to talk about sterlingdollar. Biggest intraday move for the pad against the dollar since 2008. Shows the oneday percentage moves. We have risen as much as 2. 5 . The biggest move since 2000. Yesterday, we fell 1. 1 . Close sinceowest 1985, yesterday. Day after brexit, when sterling fell against the dollar most it percent. The part investors seem to like is that mps get a vote, they have to rubberstamp the final brexit deal. Ands stick with Sterling Sterling volatility against the dollar. Yesterday, we saw a fourth consecutive gain in sterling implied volatility. 19 , we are falling down the most in september,
Yesterday, not much direction today. The 14th straight session where the s p has not moved by the close of trading. Not saying it will not today, but it is a safe bet that time. Weve seen a lack of activity, volatility falling. This is fairly typical of earnings season, but this one is even more so than we typically see. All of the major averages kind of mixed. The dow has been faring the worst, down 73 points. The nasdaq is higher, just barely. It is facebook is keeping it afloat. Of course investors are seeking through earnings. Facebook shares have pared some of their advances. They are normally down 1. 5 . They were up as much as 4 earlier, quite a change even as facebook comes up with sales and rose 59 . 1. 97s 1. 79 billion billion active users. Ford on the flipside, one of the things providing a drag on the major averages. Ford coming in with earnings that missed estimates. The company also saying this year will be tough, auto sales will likely contract. We are looking at whole
168 points to the down side. At the lows we were down about 185, 186 points. So were off the worst levels of the session so far. But an interesting carry through from yesterdays 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 theyre 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. Theyre 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 yesterdays 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, youll hear traders talking about financ
Selloff coming out of the united states. This mixill throw into as well what has come out and the last hour from carl icahn. Interesting to see him backing trump. Inis a guy well followed terms of his views around the markets and have Central Banks and governments influence those markets. This is what he had to say in the video he released about the low rate environment. Why should they raise rates . It is almost a rhetorical question. There are so many reasons. Low rates are almost by definition building bubbles. Real estate bubbles. Guy one of the stories riling the asia markets right now is glencore. I want to show you one chart. I want to show you this one here. It highlights what is happening with glencores debt and equity. The market capitalization is in yellow. The total debt is in green. You have yellow above green, yellow above green for the last four years. The problem is we are now down here. This is the current equity valuation of glencore. This is the debt story. That is s