Barbara duran from bd8 capital markets. Thank you for joining us today weve got a lot of forces at play again another kind of side waist market, but some Risk Appetite if you look at whats moving higher today i agree with that i think that the action has been very constructive. And i think whats going on is youve seen the earnings expectations come down you had just a little sample last week, but majority of Companies Beat earnings and the most important thing, i think, was jpmorgan and American Express talking about the strength of the consumer in loans and spending and thats really the underpinning to the economy. And so we also know the fed, they have a meeting coming up. Im not expecting them to cut rates, but they have made it clear they stand ready and i think that forms an underpinning for the market. And not to mention china we have a little truce there i think we were all expecting some more down babeat commentar from what weve heard so far but so far, its been okay maybe rest
Announcer this is nightly Business Report with tyler math stocks slide. More geopolitical concerns erupt, and the dow turns in its second worst week of the year. Active versus passive. The debate rages on. And theres new fuel to add to the fire. And how to turn life lessons into success on and off the fields. New England Patriots coach Bill Belichick shares his wisdom. Those stories and more on tonights nightly Business Report. Good evening, everyone, im Contessa Brewer in for sue herera. Welcome, everybody, im tyler mathisen. It was a short week but a tough one for stocks. Second worst week of the year, second weekly slide in a row. The declines were mild early in the session but steepened midday, as the mother of all bombs, the countrys largest nonnuclear explosive, was dropped on a suspected isis tunnel complex in afghanistan. The dow and s p closed at the lowest levels in two months. The dow index lost 138 points. Nasdaq was down 31 points. S p 500 fell nearly 16. For the week, the
Weak tln weakness there. You did see the dax is down by 0. 8 . Losses by more than 1 in germany. The cac is down by 1. 3 . Take a look at the benchmark, tenyear german bund, turning negative, 0. 013 . That comes after pressure on treasuries around the globe yesterday. You saw the u. S. Tenyear, yelled was at its lowest level for sometimes since 2012. That was 1. 6 . This morning, even lower, 1. 586 . When you check out the 30year, 2. 58 . And the nasdaq bass down. And shanghai composite managed to hold on to gains, hang seng was down by 0. 6 . Crude oil looking to decline. Wti. And the brexit vote and the most recent polls, the latest yougov poll now giving the leave campaign a sevenpoint lead if you can believe this over remain. 11 undecided. 4 wont vote. Other polls are also putting leave ahead now. Two icm polls, one online, one by phone, finding outholding 4353 support. Betting aulds on brexit are now narrowing a probability of a vote to stay in the eu fell to 59 . Thats down from
Seen in the dow just since yesterdays highs. We talked yesterday about the outside reversal we had and what that meant technically. Art cashin among others really focused on what this has looked like from a trading point of view even as people are arguing about the fundamentals and speaking of which, lets talk about a couple wacky things going on in this marnth. Ket. Well get you all angles covered. Why are mining stocks being routed . How come retail sales look so weak when gas prices are so low . Will europe come to the rescue next week with their version of quantitative easing . And does all of this add up to a global economy, bill thats healthy or in trouble . Let me show you the stock market and then we can talk about oil as well. The dow industrials as we said down 258 right now, a decline of almost 1. 5 . S p down 21 points. Decline of more than 1 at this hour. The nasdaq is doing better than the three. Down 39 points or about 0. 85 at 4622. Show you oil very quickly. Late today
Equity mutual fund categories under Modi s second term witnessed significant returns, with small cap funds leading at 243.94%. Nippon India Small Cap Fund topped with 304.07%. ELSS funds, large cap, and aggressive hybrid funds also showed notable performance.