Good morning a warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im seema mody in for sara eisen. Great to have you with us lets look in on the market picture. Another roller coaster ride yesterday. Two days ago we had a 1,000 point swing from low to high yesterday about a 500point swing on the dow we were down 130 at the open the session high was 381 points. We sold off into the close and finished basically flat for the dow. The s p was down 0. 5 . Nasdaq down about 1 the week to date results are down about 2. 5 , 3 , not that bad with the huge declines earlier in the week. The dow did lose 4 last week as well this morning its calmer were down, but only by 96 points the nasdaq is down 16. The s p down 12 points lets look at the treasury yield curve. We did see yields pick up yesterday. We were nicely above the 2. 8 level, 2. 84 were near that high of 2. 85 we touched late on friday it will be a big test for the markets to see if yields continue their rise, if we get more o
An 11 rise in exports for january. Still both were higher than economists expected. Over in europe, a check on how were doing there. The dak dox down better than 1 n germany. Down about 1 across the board in political news, well, you want to look at these first . What . Treasuries. Of course. Dont want to jump past those. The tenyear it was sitting there. I didnt see it i was so excited for the political news 2. 831 is the number on the tenyear recent high was 2. 88 that happened in the midst of that payrolls report then the market turmoil. After that soft auction yesterday and the budget agreement with the raising of the spending cap, thats when you saw yields take that little bit of a jump higher should we do political news now . Lets do it the clock is once again ticking in congress. Lawmakers having until mid night tonight to pass a spending bill and avert another Government Shutdown this time theres a major bipartisan budget deal in the work democratic and Republican Leaders in th
S p down 1. 1 , and the russell down 1. 05 . Why . One main reason is china. China devaluing its currency. The dollar strengthening significantly. Oil is down big time, look at that, dollar strength, it takes fewer dollars now to buy a gallon of a barrel of oil at 43. 2, down almost 4 . Brent down almost 3 , gold up just a little bit as you see there about a half percent. Mandy is out but sarah eisen who knows a lot about currencies and china is with us today. Thank goodness youre here. I live for days like this, watching the dow and the impact of china spread across the globe. Bob pisani, anything with any china or Commodity Exposure is getting pummeled. Dow up 240 yesterday, down 240 now. Its a wasted week so far. Put them up, Materials Energy and industrials to the downside. Thats the big losers. Some of the obvious names and their impact from china. We always talk about casinos, wynn 70 of revenues in china, and yum brands 50 of its revenue in china down 5 . Those are the easy ones
And guys always say where do you think its going, 200 a share and the numbers we got this past quarter were absolutely astounding we saw the Service Numbers as they came across start to look at the miscellaneous being as big as most companies, scott, or bigger than most companies, quite honestly 12. 6 billion that says so much about what apple has been doing andwises wants to call it innovation or not, thats not really the issue. Do they make the best and release what they have got when its actually ready to go, and the answer is yes and yes. Well, lets see, josh, what happensif it can close above this level to really become, as they say official. It did cross 900 billion technically after earnings, but when it opened the following morning it did not reach that level because the share count was different so everything was riding on the day. Can it close above 900 billion and whats the next step can it close today above 900 billion . A regular trading session you need it to close before
With President Trump one year after the election on a day were all three major indexes hit three record highs dow up, s p gained 1. 4 , nasdaq up 2 . I think we got to take time and ponder the strengths trump is as pro business as it gets the s p rallied 21 since the election however the president has a lot less control over the economy than we like to pretend. The tax of germany rallied almost 28 kospi of South Carolina up 27 none of those are about trump right . Whether you got a Global Economic expansion stocks tend to run higher, regardless of the politics, style or substance of the leader the president s been a terrific salesman for international companies, best in my life time for certain. Making it clear that Foreign Countries want to appease him they need to buy and build american hes an old fashion list china chopped full of ceos who wants more business. Thats a big change when trump was elected and many people thought hes do a trade war with china to bring jobs back to this c