Protesters have created an opening for looters and police sometimes cant tell the difference between the two even from a purely business perspective, youd think people smashing up major retail destinations like the flagship macys would be bad for the stock market, right . Every time the market looks like its about to get clocked we get a stay of execution. Dow gained 268 points. Nasdaq advanced. 59 last night after president trumps fire and brim stone law and order speech, our futures plummet. Declaration of war replete with threatened deployment of the u. S. Army. Thats not the job, theyre war fighters makes you want to sell stocks for certain. Those futures looked ugly. All those images of looting didnt help. The futures stayed soft. I got up at 3 15 a. M. , expecting precarnage. Futures rallied again. An hour and a half later, the futures were up nicely you know what counteracted the pain a 4 rally in the german stock market with several of their borses not far behind. Yes, we actua
Exclusive conversation with him. Plus insider buying, our friday segment. We are seeing the most bullish that we have seen in months. One Company Insider buy. It is not a name that we talk about. Well name that name and 13 million reasons he is optimistic on his companys future. Friday, may 22 you are watching Worldwide Exchange on cnbc. Good morning, welcome from wherever you may be watching we made it to another friday great to have us here it seems interesting here memorial day seems early this. Stock few you ares down about 170 points seeing a little weakness here. Markets seeing a relatively mild day. Huge up on monday, down half on tuesday. Gain some of them back for wednesday. Lost it yesterday. Really has been a roller coaster week that Hong Kong News well get to stocks tumbling and our futures down 170 lets get now to that news the communist party looks set to crack down on hong kongs remaining freedoms futures are down 170 points now. I believe you have eunice yoon who is rea
Decline and a loss of momentum in the market overall. Steve, this is one of those situations where over the last couple of weeks there have been folks who have said the market has been hot this year its due for maybe a breather. Is the problem right now the idea that there is no nearterm catalyst to propel things back towards the upside yeah, but you could argue there were no nearterm catalysts to propel it to the upside from the beginning of the year in fact, there are negative catalysts that should have propelled it downward. I dont think its necessary catalysts. The market was tough to figure out all year this is the easiest part of the market to figure out, because it had a big run, were in the dog days of summer, volume is lighter and its typically when the market takes a breather. I dont think you can draw anything from the direction. Im so tired of hearing about the 50day moving average. Hearing about it every 10, 15 minutes. It Means Nothing it may mean something for shortterm
In the meantime, lets talk about the price of bitcoin. It has been volatile. Shot up yesterday in a big way and pulled back after blackrock denied the report, becky. Coin telegraph saying u. S. Regulators approved the application for the spot etf. Everybody cheered and went crazy. Coin telegraph later retracted the story and conducting an internal investigation into the inaccurate report. Blackrock reported the application is still under review. Crypto markets have been waiting news for spot coin etfs which are expected to drive investment in the sector if approved. If because we still dont know. Just because blackrock and fidelity are asking for it, doesnt mean the s. E. C. Has to give it. Do i think there is momentum . Sure. It doesnt lead to the situation. The company that put out the story is now conducting an internal investigation which makes you wonder if they suspect somebody was doing this and making trades based on the story. It wasnt how it happened. Was somebody feeding the
Well. They move lower, too. If theres a bit of a bright spot today, it is in tech is that has dated positive numbers. All better than 1 . Energy is the weakest vector today. Keeping an eye there over the final stretch as well, 83. Thats a decline of 2. 5 . All of it takes us to the top of the table. Goodenough earnings begin in just a couple of days to send docs into a year ending runup. Lets ask dan greenhouse. Alternative massive out late strategist, hes with me once again in post nine. Rates have largely been cooperating in the last few days, will earnings . I think the answer is yes. I think this idea that earnings just need to be satisfactory or not is sort of secondary to the yield storage he just brought up. What i mean by that is, pretty clearly you have seen a relationship between the two since the end of july. Rates and stocks. Love the bank of japan, they all hit at the same time at the end of the month. That was essentially the peak of the stock market. Youve traded down ev