Yesterdays gains. The selloff was broad. Oil prices took a dive, Energy Stocks tanked, financials floundered. But what did rise was uncertainty about oil, which some view as a proximate fee for the global economy. And uncertainty about interest fed officials are now in a quiet period ahead of next weeks meeting, so there will be no more comments to dissect for clues. But investors dont like uncertainty, and the Dow Jones Industrial average dropped 258 points to 18,066. The nasdaq declined 256. And the s p 500 fell 32. Bob pisani was in the middle of todays selloff at the new york stock exchange. Another tough day for stocks, the market did improve towards the close. All the major sectors down oneandahalf to 2 or more, including energy, materials, financial and health care. Its mostly about the debate over whether the feds should or should not race Interest Rates. The odds are small, the risk is high. Many traders are long both stocks and bonds. Both of which might get hit if the fed ra
Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Seeing weakness with its supply chain orders, down 3 . Moreover, the Company Makes a big bet with the release of its ipad pro with that apple pencil. We will tell you what to expect. You like that pencil, dont you . I think it could really be something. I do. I have my eye on that ipad pro, we will see. Jpmorgan has the latest target of a massive hacking and fraud attack, u. S. Prosecutors unveiling criminal charges just a couple of hours ago. We will bring you the latest developments on yet another corporate hacking going on. And tmobile, mean while, saying customers can watch netflix and hulu without using data from their tmobile plans. Here to explain who will have to foot the bill no other than tmobile ceo john ledger himself and a first on cnbc interview coming up. Who is going to pay for that . Lets start off with mcdonalds. Courty reagan has sales on this announcement. Moved the stock initially but its come back again. Mcdonalds wasted no time as they began the companys investor
Failed. We ask, whether you support continued u. S. Military efforts in syria. If you do, give us a call. Tell us why. If not, give us a call. Also tell us why. You can catch up with us on social media, twitter, facebook or email. A good saturday morning to you. We are talking about the shift in strategy in syria, taking up headlines around the country today. Here is the front page of the financial times. U. S. Abandons project to create syrian rebels. Obamas options narrow in syria. The New York Times, the u. S. Ends effort, admission of failure, plan to provide weapons to groups fighting isis. The decision to scuttle a central piece of the strategy to confront extremists was made after mounting evidence of the Training Mission had resulted in no more than a handful of american coached fighters and comes amidst russias fourfold forceful entry into the syrian conflict, a move president Vladimir Putin we will be talking about it for the first 45 minutes of todays program. For more on th
Take us back 40 years ago and how we got here. Guest it is because critical commodities like oil pose unique National Security and economic challenges. The dynamics that created the ban 40 years ago are still relevant today. The fact of the matter is that it limits the ability to export u. S. Produced crude oil. What that does is ensures we have adequate supplies here at 9. 5. We still import Million Barrels of Petroleum Products every day. Even though we are producing record amounts of oil, we are still the largest importer of oil in the world. Would give huge profits to Oil Companies. Right now, the production discount, the production boom in the United States has resulted in a slight domestic price to scout for certain types of domestic produced oil. Right now, refiners are enjoying a discount and sharing that with in the form of water prices. What producers want is to export the discount overseas to china and india. That will raise gasoline prices for american drivers. Host do we c