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And were looking ahead to earnings jpmorgan, all on deck. Joining us is dan nathan from risk vertical advisers what are you watching today heading into tomorrow . The fact that the dow is onle we had these massive surges in stocks yet, we dont have a whole heck of a lot of content about what that means, other than buying ag and a lot of Market Participants right now feel like weve seen this movie before and we kind of know how it ends except that this time, its a threepart Netflix Series that we have to stay tuned for. And we may have to stay tuned for multiple seasons Binge Watching is what youre saying were in for Binge Watching on the trade front. We are flat, as we said volumes down a little bit. But there have been a lot of intraday moves, as well. Lets fo ....
The ceo of boyd gaming will discuss where he sees growth. Today we have henry tao, steve grasso. Should we be as concerned over whats taking place in china . I dont think the u. S. Market should be concerned at all. In china only 15 of household assets are in the Chinese Market. People are not spending according to what they make in the chinese equity market. I dont think there will be any substantial impact on the u. S. Earnings at all. Do you buy that rick . Not even a little. I dont disagree with his information. I do think there are many aspects to china unique to china. Many have no problem when commodities were racing and copper was racing saying this represented global demand. Maybe it was chinas demand. I think that this reversal may not be exactly correlating. Lets speak or let the market speak for themselves. The dollar index, bund and dax all hit the same levels in july. When i see the dow, its not everyones favorite ga ....
Ugly off 8 1 2 . Is the selling fully chinarelated here in the u. S. Or ocould there be something else, something bigger and deeper perhaps, guy . Lets start with you. Tim talking about china, i think it has a lot to do with china. When the markets down 8 on top of the moves weve seen over the last couple of months it has to have something to do with that but i also think its somewhat technical in nature. I think earnings have a lot to do with it. I think earnings have been okay but i think the chasm between eps and revenue continues to grow. I think technically the markets done everything right until last week when we traded back up, tested you willtime highs, seemingly failed, had an outside week in the s p without getting too wonky, now were going to test again those lows we saw last week or so, 2042. If it holds there, off to the races. If it fails we have to have another conversation quickly. The russell, the iwm, 121 has been the level, closed lower today for the first time in a ....
In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yield ....