Live Breaking News & Updates on Cory Johnson A Bloomberg
Stay updated with breaking news from Cory johnson a bloomberg. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Even the initial drop was not a huge one, not even 1 . All three major averages are down. The dow is down 30 points. At one point, it was down about 100 points. Iscould be worse, i guess, the way to look at the averages. This is despite the job report coming in much weaker than estimated, and on top of that, we got a Services Report that was weaker than estimated, showing the slowest expansion last month going back to 2014. Interesting phenomenon we are seeing. Take a look at the groups on the move to see what is supporting the gains we are seeing. It looks like it has to do with the drop we are seeing in bond yields. Utilities are up and Telecom Stocks are up, and those tend to be the groups that benefit when yields are lower. Consumer staples also representing the defensive groups. Financials are far and away the worstperforming group. Look at what is happening with the ba ....
Also, we have had a strong run of gains for the major averages. Five straight weeks of gains. So now we are sort of hovering. There is a positive momentum as the s p and dow gained slightly. The nasdaq down very slightly. If you look at the s p 500 over the past week, it is not just today that we have seen this. There has not been that much of a change. Down about 10 about 7 10 of a percent. Even take a look at volume again today. If you look at the bloomberg, volume versus the 20 day average for all of the groups in the s p 500. All of these bars are down particularly energy. More than 40 drop in volume. Utilities, financials and health care seeing a 40 drop worse is the 20 day average. It is across the board. It is not it does not just feel like, it is lower than typical trading activity. Alyx is there a flight to safety in this Light Trading day or light across the board . Julie there is. You would think with little activity in ....