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Which will hit in b about an hours time. The s p up by just three basis points coming up on todays show, former National Economic council dr director, gary kohn, will join us about reopening the the economy. The debate over funding for states and the Small Business ppp funding. Plus, a flood of big name earnings set to hit this afternoon including as you mentioned, alphabet. Starbucks, ford, am well also speak with the ceo after his Company Reports earnings, what consumers are doing and how much theyre snacking around the world. Lets focus on one hour of trade. Mike is tracking the Market Action in whats shaped up for a volatile day meg has Quarterly Results from big pharma names mike, start us off with t ....
Tom it is a mugshot of in yield and it is very technically elegant. Dean curnutt to start is strong in the 6 00. He will talk about that. A massive correlation in currency markets. Jonathan yields of, dollar stronger . Tom dollar stronger but it is the way the dollar is stronger. Maybe the japanese are fighting to keep the yen off of 1. 50. The answer is markets are moving. Tom can this equity markets jonathan can this equity market lived with it . Equities could work in a hybrid environment. The s p 500 returned 15 every year from 1985 to 2005. When will rates were 2. 5 , can we live with these rates . Lisa this is a key question. You are saying an increasing number of analysts come out and capitulate, whether it is Morgan Stanley or goldman sachs. Yesterday, tech stocks outperformed. Where is it going to hurt . It is counterintuitive. Jonathan manufacturing is getting better, not worse. Payrolls on friday. Tom the numbers are ge ....
And a big part of that was because investors rang the rangstrang st register in stocks. Is it time to take profits in this group . Guy . Lets talk about two names. Good to have you. Hope everybody had a great long weekend. Happy gobble gobble turkey day. Welcome to monday. The short answer is many of these names, yes, and we talked about this last tuesday. Two names specifically. Look at j. W. Nordstrom. Look at the move its had since the middle of the year when it was a 35 stock. All the shorts covered. Last week when it got to 60, we said, folks, the Short Covering has happened at 19 times earnings. Much too expensive. Ring the ridegister. Down 3 . Similar story in macys. Macys is a little more compelling on a valuation basis but the charts look identical. Massive double tops in both going back from earlier this year. So when those two names specifically it is time to ring the register. Was this the buy the rumor of good or dece ....
Economists expected 0. 2 . That is reinforcing that the ecb has to do something tomorrow to accelerate inflation. Dont forget, inflation has been way below the ecbs goal of 2 over a twoyear horizon for the better part of three years. Betty ok. So staying on what is going on right now, mark, the worstperforming european stock today was steelmaker arcelormittal. What prompted this 12year low . Mark check that out, betty, down 9 . A big iron ore producer today said steel prices are heading lower next year. Citigroup says arcelormittals earnings have further to fall next year. They cut their recommendation to neutral from buy, and said they jumped the gun in upgrading shares in october. They are facing a double storm. China is flooding the market with cheap exports, particularly in europe and the u. S. , arcelormittals big markets. The other side, iron ore prices have sunk to a record low. Here is a great step for you stat for you. The worlds biggest steel producer, since 2008 shares have ....