To tony zhang has the one name you could play to cash in. Plus, mike khouw has a way to take some protection on the cheap. And do the dog days of summer have your feeling tired, rundown and listless youre not alone the chartmaster is drilling down on the one sector running low on energy how you can play it for a jolt its time to risk less and make more options action starts right now. It is friday. 2 30 out on the west coast lets get to it. It was a record week on wall street and a remarkable week for the Federal Reserve as well. The nasdaq and the s p hitting fresh alltime highs with the dow turning positive for the year all this after the fed made a major policy shift essentially saying theyre going to allow inflation to kind offe run hotte than normal to help the market tony zhang says theres only one stock that could be a big winner from this. Who is it . I want to take a look at Morgan Stanley because of this tick pickup in rates on the long end of the curve its one of the stronge
Selling but the glut looms over the market. The politics of the pandemic. The u. S. And china continue to trade barbs over their handling of the crisis. Washington says the world has been let down. Breaking news out of south korea. We are getting First Quarter gdp numbers quarter on quarter, seeing the biggest drop since 2008. Young talking about a contraction of 1. 4 . It is still a little bit better than expected. The expectation was a contraction of 1. 5 but it will still be the First Quarter on quarter retraction since 2009. The year on year number rising 1. 3 , is also bigger increase and was expected. It was expected it would only gain 1 . It is also growing this rise of 1. 3 year on year coming after growing more than 2 in the past two quarters, so it is still a slowdown from the previous quarter. We are seeing manufacturing taking a big hit, a contraction of 1. 8 for the Fourth Quarter and also contraction from the previous quarter. We are seeing the hit on retail trade, accomm
You saw most of the major averages yesterday sitting at new highs. The dow was off by 3 points. This morning green arrows across the board. Dow looks to open up another 60 points s p up by 3. 5. The nasdaq up by a half point. Overnight in asia, look at what was happening there. The nikkei was down. It slipped by 0. 8 the hang seng and the shanghai were stronger. Shanghai up 0. 4 if you look at whats happening in the european equities market. At this point it looks like markets are flat across the board. Ftse is down by a quarter percentage point treasury yields, lets look at that market. Oil prices, dont mow if you saw this yesterday Oil Prices Surging yesterday that will be something to watch. Highest levels in quite awhile check out the tenyear note which at this point is yielding 2. 634 lets tell you about some big stories were watching the biggest here in davos, treasury secretary Steve Mnuchin making headlines at a News Conference he said the United States welcomed a weaker dollar
Streak since january but are rising on better than forecasted earnings and we have lots of earnings to go through. Andre talking about china how it stabilized one chinese plunged after lower sales, trading almost 20 lower from yesterdays close. Its the biggest loss since 2009 for the company. Moving onto oil and gold we have seen a commodities route. Oil prices are rebounding and oil is trading near a fourmonth low. Down 19 still trading near the bear market of 20 territory from its may peak. Pimm lets take it check of the treasury market. There is little bit of selng on bonds. The 10 year is 2. 25 . This is over the past week and we can see a decline in the yield meaning the prices were a bit up. The intraday is moving a little bit higher with selling in the 10 year coming as the Federal Reserve began to two day meeting to consider raising Interest Rates. Lets take a look at the dollar and major currencies the euro is losing ground against the dollar. Poundn is stable and the sterling
Definitely a recovery in that and again, it delay. Presume there was also a Strong Demand for housing. Other breaking news not to do with the u. S. Economy but to do with canada. The bank of canada has an overnight different Interest Rate of 1 and says it will be cautious with future rate increases. Some economists and strategists in canada have predicted a stronger saying they might signal that they would raise rates. Be s not necessarily to viewing that we see the dollar strengthened up about one half of 1 . Getting back to the u. S. Averages, were seeing some weakness. All three major averages are down here. Lets get to them and earnings movers i should say, up and down. First of all, anthem is stronger today. Earnings topping estimates by 10 , the biggest beat we have seen, earnings per share up a percent 8 . Illustrating a debt ratio more, andoving actually rising. Now little changed, almost 2000 rite aid stores, we reported process profit estimates, coming down to her gerbil is o