Can they win in the courtroom and in the court of public appeals . Lets head to the markets desk, first off. Julie down off the highs for the day, we initially saw not with the change peoples reserve of china trying to add stimulus there. Not seeing much reaction in the United States. Moved higher with oil prices on the day. The lowvolume situation continues. Not only lower volume today, but a very tight range for the s p 500. This index looks at the daily spread in the s p and it looks like it will be at its lowest this year unless something changes, of course, in the next couple of hours of trading. You have seen not a lot of movement in this session today. That has been more true over the past several weeks. Matt we have seen some interesting moves in the currency market, right . Julie we have. We have seen more of an appetite for safety, as evidenced by the continued demand for the japanese yen and the dollar falling against it. Here is the movement besought overnight, falling vers
Welcome back. Scarlet the band is all back together. Julie we had stock slipped today, we had a run, now we are seeing a pause. That dollar, we talk about the , butlation between oil this year, the correlation of inverse correlation is really with the u. S. Dollar. We dont spend as much time talking about that. But that has happened this year as well. That said, we are seeing stocks pull back today in terms of the biggest drags on the s p 500. In particular, facebook is falling today. Intricately, Deutsche Bank says you should buy the stock on weakness. Deutsche bank is also saying that near term, theres an unfavorable set up in the stock knowing into earnings. It seems as though the focus is more on that part of the commentary. General electric is falling as well, pristine downgrading that stock valuation and underappreciated risk for the company, including a longer downturn in the oil and gas sector. Cisco and jpmorgan rounding out the top four drags we are seeing today. Scarlet stoc
Official anymore . Scarlett i dont know. Wednesday is official because j. P. Morgan is reporting. Julie whether you are talking about alcoa or the banks, there is not a lot of optimism when it turns to earning broadly with energy or financials. We have seen a pairing of gains today as we have gotten deeply into the session. The s p 500, if you look at the intraday move we have seen, it has been moving from steadily lower, a leg up in the past few , downs, but none the less sharply from the highs of the session. Lets take a look at the s p 500 profit estimates and the change we have seen in estimates. This is the change that we get quarterly. We are talking about a 10 percentage point swing in these estimates overall. The estimate is for earnings to fall 10 in the quarter that we are about to learn about. Definitely a lot of pessimism going into the season. The caveat we always talk about his companies tend to be by a high rate. As always, it will hinge on not just the reportings but wh
Lets head to the markets desk were julie hyman has the latest. Julie last week beside saw the biggest decline for major averages since february. It looks like a bounceback today. A lot of Different Things for investors to talk about. Manufacturing data came in weaker than estimated. We are seeing it rationing down of Interest Rate expectations. Major averages around the session. The nasdaq is billy hanging onto gains the nasdaq is barely hanging on to gains. Consumer discretionary in the top spot. Financials are helping matters. Amazon is rising for the second straight day. Ceo jeff bezos getting praise from one buffet. Energies laggard down if you look at oil prices, we are seeing a pullback. Interesting that they are not tracking down stock unlike what we have seen recently. Iran exports rising putting pressure on those low prices. Futures are going higher. When to check on currencies. The euro is trading at its highest since the u. S. Dollar up since last august. The dollar lower ve
A lifetime contract. We are half an hour into the trading session. It has been quite a big cello around the world. Matt miller has the latest. Matt im looking at oil prices, especially. Crude, not only nymex crude, started dropping precipitously around 7 00 this morning. Brent is also down. West texas intermediary, you can see the big drop that we had to 36. 85. We bounced up a little. Brent came down earlier and drop to below 40 a barrel. Both of these products, commodities, are down till those that we have not seen since february of 2009. Brent had a bounce it is now at 40. 39. I graphed a spread. Even see it is getting tighter and tighter. The less of a difference and they are correlating more. Betty stocks are moving in tandem with the slide were seeing in oil. Matt stocks have come down for the third day in a row. Looking at the major averages. We have recovered a little. We are off 1 of the Dow Jones Industrial average. The s p have recovered down a tense of 1 down 8 10 of 1 . Th