Joining me a. R. Gibbs. And john eckridge. Erin, we were talkin talk wee talking before the show. Who a weekly letter to our investors letting them know what was going none the market. Charles did you use a lot of whiteout . There is still a lot of debate on what triggered this which makes it hard to understand how we find a bottom if we dont know what pushes us over the cliff in the first place . We are seeing a huge selloff. We know we are going through a reevaluation period. There wasnt really any new big catalyst for the selloff today. You have got to reevaluate, what are you willing to pay for equities given there are some good starting positions. The economy today, we saw jobless the claims at a 45year low. Corporate earnings continue to be extraordinarily strong. Along with strong guidance. What do investors base this on . Do you make adjustments with the metro outlook for you the comed overall . Is there a negative wealth effect going on that could change all your work . We are
Where european equities are trading, with just under 13 minutes to the close. I have across asset picture of western europe looking at gnma. Switzerlands smi up 1. 1 , one of the best performers in western europe. Portugal higher, up. 5 . Gains in luxembourg, denmark, belgium as well. In the fx space, a lot of it is about the weaker dollar story today come even though we had a stronger dollar story for the past couple of weeks. First up. 5 , the swiss franc at. 3 as well. Ae dollar basically comparing weekly advance. The bloomberg dollar index falling from a decade high. In terms of whats happening in fixed income, we are seeing 10 year yields coming down, and the periphery down eight basis points in portugal. Also down five basis points today in italy. We are also seeing the 10 year yields coming down on the german blonde. The german bund. Thoseker oil price around concerned that there isnt going to be a deal reached at the opec meeting on november 30. Brent crude down 2. 7 , 47. 56 a
We will see what the next hour holds. We are seeing a pullback in volume today on the three major averages on this summer write a. It looks like all you money s p the 20 day average. We are seeing an extension of gains as we get towards the close. The nasdaq up 1 2 of 1 . The week and another winning week, the fourth week in a row weve seen gains for the s p 500. Take a look at the s p over that fiveday period. Here are the intraday highs that we saw on wednesday for the s p 500. We have not exceeded the intraday level. Right now we are above those levels. We see how it plays out over the next hour or so. We are watching the chipmakers today. We have a tale of two chipmakers. Advanced micro devices posting its first quarterly revenue gain, going back to 2014. It is on increasing demand for chips, as well as chips to power video games. Sky works is lowering. The company talked about some issues and its largest customer. It is forecast for fiscal fourthquarter Revenue Growth without the
What kuroda is going to do and how that affects the global bond market. We will debate the future of the feds Monetary Policy with former minneapolis fed president gary stern. First, jon will bring us uptodate on the markets. To the bloomberg, gear up for the session on wall street. In equities, no real drama. We are down about one third of 1 . The dax off by. 4 . The real shakeout is having fixed income. Lets move things over to that asset class. The long end of the jgb curve, yields up by eight basis on the 30year. Endntially it is a long selling off quicker than the front end. The idea as they the idea is that you place in more inflation, more stimulus may be, but more specifically, the central bank and the bank of japan may shift things toward the front end and allow the long end to selloff a little bit. In the fx market, the move is as follows. The dollar is stronger. Up about. 1 . Dollaryen has been absolutely whipsawed by what is happening. If you thought the fed and the specula
Washed away. Scened reeve is on the with the details we are learning about the break and the impact on the people who live nearby. Do some people not have water yet . [no audio] this is turning into a major repair job. Behind me, the sinkhole is still here. The big issue they are dealing with is trying to find the valve to shut off the water. We are told that valve is in the woods. This may be a long night for repair crews and residents. Along hamilton street in hyattsville, a water main break nightmare. Break Early Saturday Morning caused this massive sinkhole, large enough to nearly swallow some parked cars. They were down in there. This was early this morning, like 5 00 a. M. Richard troubles. Water purser is find at the moment, but earlier in the day, some residents had no water for several hours. Others had just a trickle. Came out the house, and to see all the water and the fact the water pressure was so low, i do not know what to do. Richard wssc said the affected 18 inch water