Munster. Hospitality disruptor. Shortterm holds that combine elements of hotels and apartments. We will hear from the ceo. But first to our top story. Record highs on tuesday on averages, but Something Interesting happened during the day. The s p 500 tech index closed down slightly. Is this a sign of trouble to come . Joining us to talk about what this means is bloombergs abigail doolittle. I want to take a look at a chart im showing in my terminal which highlights some of the profit taking. I am wondering if that is what happened today given the overbought levels on the tech sector. Abigail i think you are dead on with that, taylor. That is exact a what that represents, you little bit of profittaking. That stock up so much this year, and that is really what makes today so interesting, the nuances you were talking about, the nuances, each finishing at a record high. The stocks and chip index also finishing i record high. The reason that stands out is they are leading up all year, up mo
We will get thoughts from gene munster. Hospitality disruptor. Shortterm holds that combine elements of hotels and apartments. Will hear from the ceo. But first to our top story. Tuesday ons on averages, but Something Interesting happened during the day. The s p 500 tech index closed down slightly. Is this a sign of trouble to come . Joining us to talk about what this means is bloombergs abigail doolittle. I want to take a look at a chart im showing in my terminal which highlights some of the profit taking. I am wondering if that is what happened today given the overbought levels on the tech sector. Abigail i think you are dead on with that, taylor. That is exact a what that represents, you little bit of profittaking. That stock up so much this year, and that is really what makes today so interesting, the nuances you were talking about, the nuances, each finishing at a record high. The stocks and chip index also finishing i record high. The reason that stands out is they are leading up
The tv industry suffers its steepest drop in ad sales since 2009. What that means for streaming. First, our top story, the challenge to tmobiles sprint merger took shape in a courtroom on monday. The combination of 13 states and the district of columbia suing to stop the deal. With the latest, jennifer was in the courtroom. Day one, what is your big take away . Jennifer it started with a surprise because the judge said, we are not going to have opening statements. I read enough in the pretrial memoranda, lets go straight to the witnesses. That was a big surprise, particularly for the lawyers who spent a lot of time preparing those. The judge is really intent on getting this done in two weeks. This was part of that, getting things moving quickly. We got right into the first witness, basically got through 2. 5 for the day. Overall, the witnesses were pretty good. They were better than i thought they would be for the companies. There were some bad documents introduced with the first witne
A trillion Dollar Company again. There is your round number. Romaine real estate and consumer staples. Youre going to bet on that or on apple . Littleht, lets dive a deeper with our markets reporters. Abigail, what are you watching . Wacky you called it earlier. I would agree. This is slightly risk off. This is a quarterly chart. Yellow is gold, white treasury futures, and those are bonds, and then in purple, we are looking at emini futures, and the main diversions point when the fed lowered rates back on july 31, old shot higher, treasuries took off. That is pretty much in play. Old is higher. Treasuries higher, outperforming the nasdaq 100 gold is higher, treasuries higher, outperforming the nasdaq 100. The First Quarter of the year when you have divergence like that among risk assets, you really want to think about it, especially considering last september, saira, with the nasdaq with its first monthly down quarter ahead of all of that volatility. The went to continue with quarter,
Several sessions this week where weve broken even are gone higher on the session. Today looks to be no different. 3010 is where we are at, up two points. The 10 year yield is back at. 83 . That is a major move in treasuries. The yen has moved two big figures in the last session alone. One of the major rivers in the s p 500ay, ceepo today, cboe. It got a downgrade at bank of America Merrill lynch. It is now a sell. Guy we are continuing to see rotation in the equity market. German tenyear now at 48 basis points despite the cut yesterday from the ecb. European equities grinding higher, but that is not the story. It is below the surface. This move into cyclicals, this move into banks continues in europe. People are selling the big bond proxy names. Trading nestle, etc lower. This is a big unwind from what. We saw in. August the pound continues to catch from what we saw in august. The pound continues to catch a bid. 1. 2 440d now trading at on the idea of a hard brexit beginning to fade a