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June 21, 2024
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 lo...
June 21, 2024
Eastern time and mario draghi will hold a News Conference at 8 30 eastern time. The euro we saw 1. 5 yesterday. It bounced higher at 1162 and european stocks at least at this early hour they are relatively flat at this point the dow futures are up by 35 points. Nasdaq up by 3. The ecb is the talk of the down here in davos. Larry summers, and Goldman Sacks gary cowen all sitting on stage together. Expectations of a Bond Buying Program in europe already had an effect. She points to currency and wh...
June 21, 2024
68 wall street. Today its a luxury residential building but thats beside the point. Were seeing the results of the ice, the owner of the New York Stock Exchange moving and consolidating some operations not just the equities but also some futures business some of the options, and just some general support here as they continue to run vat the space. Thats right. I miss the garage i will say, but time marches and the options traders have a beautiful new trading floor. So things look a little differ...
June 21, 2024
Consumers but the opposite still seems to be the case. This market likes it when oil is moving higher. Last thursday lets all recall oil hit a low of 43 and change. Now were almost 10 above that right now. Almost 25 gain. I will mention Brian Reynolds just hitting the tape saying he thinks this will help stocks fend off some of the weakness we have seen wreryeartodate. There is certainly a lot to watch. Not clear at all just what this move will even. Aetnas sew Mark Bertolini is joining us in an...
June 21, 2024
Hershey. Two economic reports today. Weekly jobless claims at 8 30 eastern time and december pending home sales at 10 00. And eu Foreign Ministers are meeting in brussels. The rouble weakening today on the threat. Andrew. Well talk about the big changes happening with mcdonalds in a minute but first a quick snapshot of other stocks this morning. Facebook beating the street on the top and bottom lines but Revenue Growth was the weakest since the start of 2014 and it rose faster. The Company Plans...
June 21, 2024
Starting with the Swiss National bank. Not just the Swiss National bank well get to it with the huge shocking moves, in currencies, also the fact that india cut Interest Rates, even the bank of korea. What were seeing now is going to continue as europe then has to decide just what moves it will take next week folks. We are living in crazy times. A race to the bottom. Or as our friend in currency terms. The bond fire of the currencies. Exactly. Now people are starting to look at gold again. You h...
June 21, 2024
Were off to the races now. Heres whats happening before the bell. Quarterly results from jp morgan and wells fargo. The economy also front and center and topping todays calendar Weekly Mortgage applications. Import and export prices. Business inventory and the feds beige book plus we have a little bit of focus overseas on the ecb. Top European Court giving a green light to a Bond Buying Program and thats heading out to speculation that well see more stimulus out of the euro zone when they meet n...
June 21, 2024
Past. With obviously the oil market. Everybody knows goes through ups and downs and peaks and valleys and so in the last few years we have the resources. We build the resources. We build the buffers to help us in sustaining our policies and not disrupting them. So im comfortable well be able to continue that. Hes comfortable but a lot of other people arent. Oil prices are now down about 60 since mid june but that doesnt tell the story of the last week. Over the hastlast week oil prices pick up a...
June 21, 2024
No. It looked good. If there is a blizzard tomorrow morning, you know, were doing the show from out there. Good. Perfect. Three hours. Im bringing the same suitcase here. We can set up. Im surprised im sniffling and have this. They have nine hour flight into head winds. You have three straight days. We walk a mile outside to get to where were going to do an outdoor broadcast for three hours. And now were back. But well were ready to work. Well persevere. Were ready. We have everything set up and...
June 21, 2024
To one particular factor. So many things going on. Earnings season has begun. Oil prices were lower again. We got down below 250 on the 30year 30year. Below 1. 9 on the 10year yield. The president met with congressional leaders. Theres talk they were talking about trying to think about military action against Islamic State militants. So all kinds of things going on simultaneously. Not only all of those factors bill already mentioned, throw on top of that whether the European Central bank might s...