Extraordinary upside moves we saw this year but now the action is just as extraordinary on the downside as what we saw moving higher since we turned the calendar. This is when we start to dust off the old adages down is quicker typically than the up markets weve had all a rise, we dont have to remind you of that, but the we have to pay the piper and the dow is down by the way, you cant compare the percentage terms down 802 on the dow. Biggest point decline prior to this was 776 during the financial crisis now, back then it was 7 , 8 drop today were talking 3 its rare to see that kind of move well show you everything going on with the spiking volatility. Its unsettling because it happens all at once. Well bring mike santoli in in a little bit we were talking about how the market has changed in 2018 compared to what we saw the last couple of years. Where most days the move higher would be a small one we were hitting base hits or doubles or something now weve been hitting home runs both u
That vix up at 25. Weve got our crew standing by Courtney Reagan watching the stock staging a comeback Steve Liesman on how it could hit the gdp. We begin with bob pisani amid new warning signs. It kind of feels like its quiet today, and yet if you look at it on an historical basis, this is a pretty active day. The one to one advancing in decline so were not getting any weird breadth signals here the volume is lower than its been in the last several weeks by historical standards its high but compared to the last two weeks, actually, its pretty quiet. The volatility, the vix is elevated but moving in a very narrow range thats a sign of Little Things settling down. Kelly is absolutely right about the dow. 280 points from high to low. That would have been titanic two weeks ago and yet today were watching, oh, okay, thats not that bad overall i think the important thing is if you look at the dow, about half are up, half are down just what i said, one to one advancing to declining stocks. C
Proposal to raise minimum wage to buy a rifle. Will anything actually get done . That is the big question. Were on that story. The mayor of one of call fors cities is defying the federal government warning Illegal Immigrants about upcoming i. C. E. Raids. Has she gone too far . More on that story coming up. First lets get back to the roaring stock market down on floor of New York Stock Exchange where our very own Nicole Petallides standing by. Nicole, once again it seems the market wants to go higher. Thats right. We had a bumpy week. Friday we saw up arrow. That managed to push our numbers into the green for the week netflix and amazon. Both of those names hit alltime highs today. Amazon crossed 1500 last week. Fourth Straight Record close. Look at it. Up about 17 bucks. Netflix up to 293. General electric on other hand one area we continue to follow. It has been a laggard over the last a weeks. Down over 50 . Restating numbers for last two years on earnings. The sec looking into reve
Since december. A big day for housing. Well get new home sales in an hour. After an historic day which saw the dow fall minutes into the trading session before closing down 588, futures are serging. Chinas central bank announced its lowering the Bank Reserve Requirements by. 5 . Its the fifth time in nine months theyve done this. The question is what are we going to get out of it . I thought the more important story than the cuts of rates is that maybe theyve stopped the game of trying to prop up individual stocks. The stocks are just not companies that you would theyre buying sock pickup truck. Theyre buying web van. And i think whats going on is this may represent a more serious attempt by the Chinese Communist party to put people to work or something. They could spend their money fixing the sewer systems. Maybe theyll start doing serious work to help their economy. Does that mean today is your chance to get out, to sell your least favorite names . Yes. I have to tell you, when i see
It is currently below where it is trading now . Well, it is affecting the direction of the market that wanted to point higher. When it relate s s to apple wit sitting at 89. 80, and make the short trade and go against the big Balance Sheet . I am not sure it is something that you want to do, and if you believe it is the right move, you have to hope it is getting to 80 and not going to be buying back the stocks. And on the longer term basis, i believe in apple and the story and the the vision and the ecosystem. The question then becomes is it the moment to buy it, and obviously, given the tape today, it is not. So what do you do right here . If you dont own it, you get a box of popcorn and watch what is going on like a good movie, but if you own it, dont double down and panic. And josh, if you dont own it, shouldnt you buy it at 89 and change . Well, it is a question of the time frame, and you have a not so good year this year. But the question becomes how much of it is priced in. From