Flat. R yen now we had seen it move lower throughout the session but were off the lows of the session and is vix is what everyone watching. 45 is how were trading on the vix. Thats like a quadruple from what we saw last week. Modestly higher. I was interested as to why we didnt see gold spike more. To be about equities and commodities kind of taking on the chin. Raises the question whether its fundamentals or technical. Well be die jekting over the next two hours. For the first take, there are three top stories. You have equitys and what is the fed going to do . David . Were joined by Michael Mckee, Bloomberg International correspondent and the reporter bloomberg news. What happened with the dow yesterday . Ill pull up a screen that tells story of two days in one chart here. One on the left is what happened on friday when we had those out about jobs. The one on the right is what happened yesterday. Michael, what does this tell us . Tells us that we saw return Inflation Expectations ear
Big premarket moves on mixed results from cat, gm and mcdonalds. Global volatility, a common theme. Apple cut its spending forecast by about 1 billion. Well explain why. Qualcomm looking for 1 billion in cost cuts by trimming workforce by 15 . First up caterpillar shares taking a hit on a quarterly miss hurt in part by weakness in mining and construction in brazil and china. Cats lowering their full guidance. Doug oberhelman did talk about it. At some point, the economy will stabilize and business will pick up. It was too whose in 2012 and too slow right now. Somewhere in between is where we will be. Until that happens we have caught in this period where we have to hunker down and do everything internally day to day. Sales down in every region including north america. Oil and gas not helping. They lowered the revenue forecast for the year. They keep the adjusted eps forecast. He is a very nice man. Thats the key. He is a very nice man. You believe this is about him. Whats your main hea
U. S. Equity futures have been indicated higher after the markets were down yesterday. The first time in seven sessions that the dow and nasdaq were down this morning a rebound from that these were modest declines yesterday and this morning s p futures indicated up by three. The nasdaq indicated up by 2. 5 overnight in asia, we have seen some gains in some asian markets. The nikkei up by a half percent. How many winning streaks is that 16 in a row that weve seen for the nikkei now trading at 21,805. Hang seng closed down bay half p percentage point in europe, as you look at some of the early trading, you will see green arrows across the board. Modest advances. Ftse up by 0. 4 . The cac is up by a quarter percentage point the dax up by 0. 2 look at crude oil prices looks like crude this morning is up wti up by 444 ce cents, brent u 57 cents. News out of Chinas Communist Party congress, members confirm president xi jinpings status as the most powerful leader since mao by writing his name
Tech was clearly one of the best performers with the nasdaq the biggest gainer out of the three biggest benchmarks. Joe absolutely. Kind of unusual because we have this modest dow game that really the tech performance. Matt we do have a seventh consecutive day of dow jones records, nineday winning streak but seven days in a row, we hit a new alltime high on the dow, not something we have seen on the s p. Dramatic. It be more its much more dramatic if you look at a longer period. I also wanted to show you microsoft. Scarlet showed me this earlier, sans going to rip off one of the functions she sought me she. Howed me how to use its the probability of certain moves, so we can see on the far intela big move here in shares. They were up almost 7 today, which has only happened one time since april. You can see its basically three standard deviations away from the mean. It fell to its lowest level since 2011, and there has been a letup and the insatiable demand for government bonds. Yields a
Adjustment and the median price of an existing home up 4. 8 yearoveryear to 247,700. This number coming in better than estimated. Today does not necessarily belong to macro. In more belongs to micro and corporate earnings that have been coming out. The ecb decision to not raise rates, notwithstanding. That has not seemed to disk to derail u. S. Stocks. The dow and s p have been pulling back from yesterdays record close. Was good to big corporate stories we are watching. General motors posting record earnings. They beat analyst estimates for earnings per share by 22 . Sales of 11 and the company attributed part of the beat to better pricing. Those shares are rising today. We heard from biogen. Secondquarter profit coming out and beating analyst estimates. The bigger news is that the company ceo is departing. Over doubling in sales at the company. More recently, analysts and investors have been scrutinizing biogens blockbuster ms drug. It is not growing as much as some anticipation. In t