Earlier today before turning negative were just off the lows of the day. Rates are in focus the tenyear is pushing past two six. Pete, whats happening we erase a 280point gain the other day. Then we go up more than 300. Then today we find ourselves falling as we speak. A little slipping welcome to the new world of the market welcome to the new world, and you talk about 1,500 points, thats why were seeing the volatility rise the way were seeing it. This is significant. These moves are huge they have volume behind them i was talking about the volumes the other day in the options world. 24 million, 37 million contracts over the last three sessions so volatility is here, scott i wouldnt be surprised if we start to see a new range for volatility everybody has been expecting it. But we get these kind of moves, and we still have plenty of different political reasons for the stock market to move, along with where i know, steve, in a note earlier today, was talking about what hes seen in the te
Entertainment. This is daybreak asia i am in new york where it is just after 7 00. It was an extraordinary jolt for u. S. Markets. 10 days of record gains when it comes to the dow. S p also seeing record high. It shouldnt have taken very much for that jump to happen for volatility to jump. Withrprising it came strong rhetoric from President Trump. It is hard to discern what that rhetoric means. Does fire and fury from President Trump, what does it translate into in washington . It jolted the markets and caused us to fall to session lows. But we seem to have come back a bit, closing lower still. It was the initial fall that rattled the markets. Going to be focused on china Inflation Numbers here. Haidi thats right. Not to much overreaction when it comes to the aussie dollar. Look how it is setting up given a fairly volatile session. Lower sessions today. The kiwi dollar for a second day was the worst performer of the g10 currencies. No expectations of a rate change but certainly some we
Awaiting janet yellen at 2 00. Plus, trump versus the house gop or not, two days until the inauguration and the president elect now suggesting that the border tax could be back. Trouble at target, Retail Stocks moving lower after target cuts its outlook on weak holiday sales. But stocks are looking to rebound one day after the dow and nasdaq each posted their lowest closes of the new year. Wall street digesting Bank Earnings today, citi beats on bottom line but misses on revenue, goldman exceeds consensus estimates. Stay tuned for exclusives with Goldman Lloyd blankfein and j. P. Morgan jamie dimon. Thats coming up later today on squawk on the street. Jim, you tweeted earlier today nothing is good enough mode on the fins. Yeah, look, these stocks ran a great deal and i thought the goldman quarter was exceptional. My travel strus owns this next one, if you adjust revenue for citi for international because they have a Huge International business, if you adjust for the dollar turns out th
Only a few people got jobs. There is a piece on banking in Silicon Valley. How hot theoften Real Estate Market is. You have banks bending over backwards to help these very young millionaires. Medium prices for houses in the bay area. Over one million dollars. There are a lot of people who have only acquired wealth recently or are on the verge. They are creating this White Glove Service to let them in. Sometimes a very quick turnaround. Maybe even shorter on when you get your mortgage. A lot of these Business People have shares. Is not all liquid. Ellen it is not all liquid. In any case, they are making it a lot easier to get a mortgage than it would be for you, david. David that is true. Is there any risk . Have loans giving to people who are rich on paper, any chance they are going to go far . In some cases, they are not met they are not asking for much of a down payment. That brings to mind what happened during the housing bubble where there were lax standards for making loans. The l
The question is what will all these people do once they have settled in . There has been an effort among germanbased companies to try to train a lot of these people. They have apprenticeship programs and internship programs and to some degree, they have tried to convert them into training refugees, give them real job skills. David a big part of the German Economy for a long time has been looking at that is a model of vocational training, giving students internships that will let them have jobs in these sectors for a long time. Right, and the problem is in this case, although people are being trained, there are not necessarily enough jobs for them. Andler had a program trained a bunch of people and hired relatively few of them. Yes, it works to some degree, but only a few people got jobs. David theres a piece on banking in Silicon Valley. We hear so often how hot the Real Estate Market there is. You now have banks bending over veryard to help these young millionaires i guess in some cas