The nasdaq pulling away from alltime highs, the apple one of the five big stocks posting a gain today but while big tech tumbled, the rest of the market was better. The s p 500 less than a percent away from a new alltime high and energy and industrials leading the way. So todays market action, is it a sign florithat the great rota is in place. Guy . It would appear that way. And happy monday and i took french in high school and this move was as we used to say [ speaking Foreign Language we get what youre saying. That is what i said at any rate, it is a pretty and kudos to tim and karen theyve been talking about the transportations for a while in terms of the stocks, look at the move in caterpillar today, a few weeks ago you played trade it or fade it with karen and boeing was 195 and she correctly said to fade it and we talk about how it would trade down to 160 or so and it overshot down at 154. But look at it today, approaching 180. So i think this is a healthy thing. I think those na
730 7. 3 . Of i want to bring you this. What do we have at the start of the year . We are just 52 basis points now. That is probably factoring armageddon. What could possibly be going on in the eurozone to have yields that far out that flow . That is a thought. To new york and join su keenan. With germany,t this is a could muster 55 million in stimulus funding. The governmenth says it spent last time a crisis hit more than a decade ago. And it says it has the reserves to do the same again if necessary. The Prime Minister says action is not needed yet. The biggest problem is uncertainty costs in ongoing u. S. China trade wars. Senior white house advisers fanned out across the sunday talk show circuit to push back at fears of recession here in the u. S. They said the economy remains robust and consumers are still spending. Top economic aid larry kudlow and trade advisor Peter Navarro said there are no additional plans for not staying the course. I sure do not see a recession. We had some
We are seeing a little bit of a lift. 0. 8 . G some a lot of that has to do with a little bit of optimism when it comes to trade news. We know the conversations are ongoing. I am looking at the u. S. 10year yield. 1. 6 after a big week. Lower negative rates in europe. We will have a look at 10year yields. We will ask ourselves what the inversion meant. Oil, 55. 52. Oil rising after we had this drone attack at Oil Gas Facilities once again underscoring some of the fragility of that region. Coming up, we have an interview with the boston fed president. Dont miss that chat after 6 30 p. M. London time today. This goes back to the conversation as jackson hole starts on thursday. Lets get to the first word news with viviana hurtado. Viviana the iranian tanker looks to be heading for greece. That is according to a vessel tracking data compiled by bloomberg. It was released by the british territory after being detained on suspicion on sending oil to syria. Rain for an 11th straight weekend. 1
November, the 15th. These currencies rising against the dollar. Were seeing bond yields in the previousry countries declining. The german 10year yield highest level since september of 2015. Commodities and c. D. S. Is your final two columns. Big day out of the u. K. Today, manufacturing expanding. Input prices marked acceleration. I. H. S. Markets, p. M. I. Fell to 55. 3 last month versus 56. 2 in december. 56. 5 was the estimate. The survey shows that growth in new orders eased to the lowest in june. Cost pressure also intensified. Purchase prices gaining at the fastest pace despite the drop in the headline index, it does remain well above the longterm average of 51. 7. Of course 55 is well above the line separating acceleration from contraction. 2018 forecast missing analyst estimates today. Cited the need to invest in new 5d technology ahead of expected orders from phone companies. Those networks, of course, promising faster data speeds, everything from cars, traffic lights to refri
You, but educate, teach and coach, so call me or of course tweet me jimkramer. Yeah San Francisco opened its golden gate to us but as exciting as it is to be out here for a special week of shows, unfortunately the market didnt seem to care one whit that we were out here to celebrate the opening of cnbcs brandnew San Francisco bureau. Instead it decided to shoot some of our favorite leaders, especially domestically based companies, and lap up the down and dirty names that have been studiusly avoided for almost the entire year. Thats why the dow ultimately dipped, the s p declined and the nasdaq lost 0. 63 . The question is do we merely have a contrary day on our hands . Or is this some sort of new setup setup. Are we gripped with some sort of sea change . Or is this the same sucker rally in the beaten down commodity stocks that we have seen time and again after theyve been pushed down to the point where they can spring back regardless of the underlying fundamentals we scratch our heads