Begin. Welcome everybody. Good to have you with us on options action. Escalating coronavirus fears ripping through markets this webb 96 of the s p 500 now in correction territory or worse meaning down more than 10 from the highs. All three major indexes handing in the worst week since the financial crisis in 2008 the dow shedding around 3,600 points more than 10 . And all sectors down from the highs. But energy and financials, the largest victims, both sectors down more than 13 in the past week if you are wondering how to protect your portfolio and who isnt amid the market madness our team of traders are here to break it down. Cornerants macro carter worth and mike khouw opt myself advisers we know this was a historic week for stocks and bonds but mike in any wayway was it historic for the options market. I think anything thats going to be a historic move for equities is going to be a historic move for options on the same equities. And this certainly was one of the cases. The vix was a
Flight shaming is on the rise and one analyst says they will take a bigger hit than wall street expects as power lunch begins now welcome. Tomstoc stocks are under some pressure now. S p 500 back towards 30. Were still less than a percent away from record highs apple, one bright spot the stock is up after 2 well have much more on this later this hour. Kelly. That weak manufacturing gave us stocks lower today. Is it just pause on the race to more record highs or will recession fears hold us back again. Chinese officials skeptical as the u. S. Might not be able to do a long term deal. Its trade related this is whats happening today you could see this in the revers reversal the fed engineering has really helped banks for this month. Look down today and it says late yesterday and thats creating havoc with banks they have been big market leaders all throughout the month of october were seeing very heavy volume market concerns. We had some very light volume. Well see if that changes today. W
Threatens to impact multinational businesses some companies have managed to find ways to insulate themselves and achieve profitability maersk the Worlds Largest Container Shipping Company recorded a net profit of 134000000 dollars and the 2nd quarter of the year beating expectations the result was due to a strong focus on improving profitability in existing businesses rather than going for volume and market share reaffirms guidance as they continue to see positive impacts of increased revenue from their supply Chain Management this offset the decline in earnings from sea and air freight walmart also beat expectations and raised outlook for the full year the company attributes its gains from its fast growing ecommerce business which surge 7037 percent this quarter Online Business got a boost from the gradual rollout of next day delivery across the United States while additional tariffs on consumer goods remain a headache for walmart it managed to insulate itself by adjusting their produ
To david tepper today to told me the following when i asked him what he thought about stocks it was clear he was very positive telling me, explain to me where this market is rich its not rich with the tax thing that just changed earnings projections. With earnings forecasts going up and Interest Rates where they are, how is this market expensive, he said i dont see the overvaluation. World growth is higher, theres no inflation, the market coming into this year doesnt look rich in fact it looks almost as cheap as coming into last year he said the market cant go down until the bond market gets hit its amazing where Interest Rates are. Josh brown, what do you make of what david tepper told me . Well, i guess it depends on your definition of expensive so by the most popular measures, the market absolutely is expensive which is not a judgment on where it goes from here, because expensive can get much more expensive. But when you look at Something Like an adjusted p. E. Ratio, youre talking
To you live from bloomberg headquarters. Happy monday to you. York, a. Sunday in new beautiful evening outside. There is a live shot on lexington avenue. A big week for u. S. Markets. On pretty much all indices, s p 500 flat. Week, noeets this press conference, but looking for clues on the Balance Sheet unwind and inflation and where , all leadinghere to the u. S. Gdp report on friday, forecast at 2. 6 . But techsdaq, flat, earnings this week, google, facebook, samsung as well in asia. Plenty of headlines, the outlook of the health care bill, donald trump jr. And Paul Manafort testified before a Senate Judiciary committee. Advances,ack to back the longest winning streak in four years comes some consolidation on the index, down. 2 at the moment, the kiwi unchanged. Australia, equities futures headed lower. The rba Deputy Governor played down that neutral rate talk from the rba. Meeting in st. Petersburg key for the oil price 45. 74, brent of losing steam after hitting 50. Livia and nige