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Care so far in the quarter. They are experiencing a modest pullback. If you are looking at the leadership so far, there it is, and the energy, and the financials, and the materials and health care, and the s p is largely flat, and they are pulling back on the stocks that have made the most money, and this is a garden variety pullback, and this is 2100, and that is what you have to keep in mind here, and at the end of april 2100, and 51 point, and this is a 2 pullback, and this is nothing terribly noticeable, and i would note that the weak dollar is not helping the commodities, and the weak china manufacturing numbers are putting the pressure on commodities, and that is the bigger story, and looking at brazil, and south africa down big, and exploration of the production down on the weak oil numbers that we have been seeing in the last couple of numbers and oil is on the downside. So it is the commodity play and the weaker china more of the big story here. And also, iron ore gyrating all ....
All this happening after the ecb shocked the world with a stimulus package that was smaller than expected. The selloff started yesterday immediately after fed chair janet yellen signalled a rate hike in december. Is this the end of the socalled easy money trade . Yes. I think it is the end of the easy money trade but its been all year. Weve seen multiple markets, multiple sectors all trading lower. What happened today, do you need to separate out what happened today. Today was not an economic event. Commit didnt change from yesterday. Its not going to change from tomorrow. What happened today is people were positioned expecting the ecb and mario draghi to deliver more stimulus than they did. They still delivered stimulus and eased monetary policy, cut rates. They didnt do as much as market expected. When those expectations had to unwind, everything spilled out. The dollars been driving this market all year. It drove it today. When it weakened, the euro strengthened. Every other asset c ....
Forecast, hurt by charges for wind turbines. The ceo tells cnbc there are some clouds on the horizon for the german economy. The level of industrialization is very high. But then again, we do see some slowdown and we will for this one. Weakness at europes core ramps up pressure on mario draghi ahead of the Central Bank Meeting while the bank of england looks set to hold steady. And a Strong Performance in the u. S. Market gives astrazeneca sales a shot in the arm as the drug sales raises its full year forecast. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Welcome to the show. Lets have a look in in European Markets. As you can see, there is more reds than there is green. The stoxx 600 is down 0. 44 so far i ....
French and russian governments lay out their 2015 budget. Moscow cuts Spending Plans as sanctions take their toll. Were on the ground in moscow and paris. Youre watching worldwide exchange, bringing you Business News from around the globe. And we just got the final reading of the eurozone september manufacturing pmi. It has come in at 50. 3. The previous month for august, it was 50. 7. It was forecast for september at 50. 5 but came in a at 50. 3, so slightly lower than expected. You can see the euro dollar has moved down. Also, five minutes ago, we got the german reading which came in at 49. 9, below expectations at 50. 3 and below where it came in for august at 50. 4. Again, slightly weaker than expected eurozone data, ahead of the crucial meeting for the ecb. In only a month, weve had two very strong days of positive gains in the stoxx 600 after the last season ended a mont ....
Red across the board on some weak u. K. Cpi. Respectively sitting at or around new highs, the nikkei logging its best gain in two months. Apple puts ice new ipad retina on the market. And walmart steps up the competition. Another record close for the dow. The s p finishing just a fraction high of the alltime high. The nikkei closes at a high. And up say, jim, the dips are bought again and again and they are. A lot of times its just the intra day dip. Something might happen, a piece of data comes out and people say this is my chance. Theres a classic downgrade today of fedex. Fedex has been on fire. That deal with amazon and the post office, that is bad for fedex. Watch that stock. That will be the tell. It will go down a little and then buyers come in. Buyers cannot resist the transports. The downgrade of fedex to a market perform, they raise their price target from 136 to 117. They dont even mention the amazon ups deal. They say the value is outpacing demand i say thats convincing, i ....