Forward is likely at an end. A few charts the first of several. The first, here is the xlp youll see they have a small head and shoulders top formed in this particular chart. If you look at the next chart, ive kept the head and shoulders top and also included the trend line in effect since the march low. We have two circumstances. We have a reversal formation, a head and shoulders top and we have a break of the trend thats been in effect since the march low. Third chart, another way to consider the facts, this is now a line across the top connecting the january and february peak prepandemic what we know is the xlp did break out, but now its fallen back below the level from which it broke out take a look at one more chart. This is the head and shoulders top in relation to the line drawn along the pandemic peak before the selloff anyway you slice it and dice it, we have distribution and it looks like theres more to go. Two more things. Take a look at this table. One thing we know about t
Brickandmortar names on the endangered species list. How can you invest in that comeback as well . Plus the need for law and order seems to help President Trump. The new numbers that have him in a deadheat with joe biden. Just how much keeping schools closed will hurt the economy . We have the data behind the 15 trilliondollar answers. All that and so much more on making money. Charles dave asman told you stocks are soaring after three days of step selloffs. You remember august and then the dazzling fall. We have mark tepper, phil blancato, and bull tick Capital Markets strategist, Katherine Rooney veer a i will ask everyone, but i start with you, phil. Is the worst over . No it is not. We have a lot of volatility to come. Election cycles will do that. High valuations will do that. Astrazeneca announcement put concern on the vaccine hunt. I think we blind higher and there will be fits and starts. Charles to we retest the low from yesterday or sort of volatility is here to stay. I think
President trump says hes only willing to go as high as 1. 5 trillion. Signs of the pandemic getting more prominent. The u. K. Reporting a Record Number of virus cases today. With more on how it is playing into the markets, Abigail Doolittle in new york. Tech shares going back and forth but tech leading the way out of the red. Walk us through the day. Abigail another amazing one, but probably more so than a reason days because of the whiplash. The nasdaq 100 at the lows early on, down 1. 1 . It was at one point, up nearly 2 . Just about flat and then closing higher by about 6 10 of 1 . What that volatility tells you on the day, the week, the month and on the year uncertainty. No one knows. When you have firm control from the buyers or the sellers that you can make the case between february and march, the sellers were on control around the uncertainty around the pandemic. The buyers took control but on the year, just about flat for the s p 500. It is a real stalemate as we go into the el
Company ipo in a year, if approved by President Trump. Is this ride hailer. Eeking to shore up cash haidi lets look at how we are setting up for the final trading session of the week in asia. After a pretty lackluster session, we had u. S. Stocks passing some of those parsing some of those losses, still dropping for a second day but finding support after bouncing off the 50 Day Moving Average on the s p. S p futures seeing a little positivity on the u. S. Fridays session, about 0. 2 higher. Tax leading the client is apple, facebook and peppe microsoft are weighing on declines. We saw a Little Movement in treasuries as well. In asia, the nikkei 225 is seeing an upside, 0. 1 when it comes to futures trading in chicago at the moment. Dollar weakness yen strength will be an issue, the. We have the yen appreciated to the strongest level in six months across broad dollar weakness. The u. S. Dollar index falling for a fifth straight session. We are also keeping watch on the dollar and how it
Development on a tiktok takeover Julia Boorstin has the latest. Sources confirming to me that bytedance is continuing to explore options with the committee on Foreign Investment in the u. S. About a restructuring of the company that would avoid a full sale of those u. S. Operations. Now, my sources tell me that long before President Trump set a deadline for tiktok to agree to sale of its u. S. Operations or have the threat of being shut down, bytedance was negotiating about various options. One option being discussed is a restrucking in which bytedance would maintain ownership stake but wouldnt have any control over u. S. Operations one u. S. Company could take a Minority Stake and be an operating partner, say, have microsoft or oracle be tiktoks cloud operator and manage the u. S. Data in a way that u. S. Regulators could feel comfortable with everything im hearing is still very much fluid and my sources say it is unclear what the president will approve certainly an area to watch soun