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He built up. Incredible work, turning around best buy and positioning it as amazon came in and took a lot of market share. Romaine he did that, but the person standing beside was corey perry. We will let you know once we get more details. In the meantime, stock market closing higher. Record highs all around. Lets check in with our reporters as they monitor the different stories out there. Im thinking about something ,ou and joe were talking about the week. We may have record highs, but there is some defense going on. The best sectors for the s p 500, utilities up top, nearly 4 . Even though we have alltime highs, the s p 500 is coming on defensive sectors. Real estate is up 2. 5 . Rates are about flat. Typically these would do well if rates were going lower. Of the growthome sectors here, tech and materials. This is a longterm chart. Utilities tend to do better at the end of the markets. To2000, the peak was closer the end of 2000. 500 peaked in p october. The fact that we have all thi ....
Today, the blue line is the 20 day moving average. Joe so much action. Plunge, the. 4 worst decline since august 2011, a sixth straight day of losses, and we are in correction mode. Lets talk with all of our reporters. Abigail. I would like to put today in context. It is brutally ugly. It is brutally ugly. Headed to its worst week since 2008, the nasdaq down 12 . Is down 14 . Ex 500 is the only one to go below its 200day moving average. Chart ahead of the selling of the bearish divergence was so stunning and so striking, the question was not when or if the music stops, but was. The new york faang index is we could seeended a decline of greater than 15 , supported by the bearish rsi, not even close to oversold. Ahead fore selling stock indexes in the u. S. Thank you. ,m looking at highyield debt a 2020 gains. Spreads on junk bonds are now the widest since august. The rally and can be seen by the fact that 2020 returns have almost evaporated. 500 is downhe s p more than 6 with an increas ....
Than 60 of soybean exports before this whole trade war began. Futurespy have rebounded from two years of losses. Trade tensions have appeared to thaw a bit. President trumps tweets earlier that he will sign phase one of the trade deal on january 15 may open the door for more american exports to china. Vonnie thank you. That is renita. Thanks for the entire markets team for the bridge throughout 2019. Our guest,us is eddy. And here with us in studio is bloombergs mike regan. We added 5. 9 trillion dollars in value to u. S. Stocks, to the s p 500 in fact. Hard to believe that number even exists. Mich there it is. One of the real Amazing Stories about this year is the everything rally, whether it be oil, gold, havens, treasuries. The treasury etf is up about 9 for the year. 15 for the year. The Bloomberg Barclays aggregate bond index is up 9 for a return for the year. It is ....
Dow and about 11 higher than the nasdaq. Lets check in with our reporters. I would like to take a look at one area of underperformance, china tech. Down 2 , lower on the open. But, around the time of the scoop and those headlines, the fact that tariffs will still be in place after the president ial election. Netnet, the worst day since september. Even to the untrained eye, this is somewhat absurd. Unlike u. S. Stocks, not going higher. There was a period of time when these were above the 200 day moving average. Over the last few months, gaining well more than 25 . A very overextended situation. Sometimes, these things go further than you think. There is good reason to think that we will see a reconnection at some point back down to the 200 day moving average. One group that sort of weathered this mini selloff was transportation stocks. Dow jones transportation average gained about 1 . It broke out to the highest level since october. Delta airlines gain a than 3 . Earnings came in well ....
The nasdaq was the laggard. Nasdaq down 0. 7 . The philly stocks index ended up the session, really dragging things lower with the semiconductors. Romaine cloud flare, five below, peloton. About 5 on the day. Lets dive deeper into the action with our markets reporters. Renita i am taking a look at axum therapeutics. It rose to a record high at some point today. Acutempanys drug for migraine treatment met its endpoint. Significantlyd improved migraine pain and most bothersome symptoms versus a placebo effect. The new drugfile approval with the fda and the second half of 2020. Hd wainwright raised the price target as a result while maintaining the buy rating. A couple of other analysts out there. Cantor fitzgerald raised price targets. William blair reiterated outperform ratings. Be over christmas may but i still have got santa on my mind. This chart suggests the quote unquote santa claus rally may not happen. And read, we have the dollar. Risk risk on, the s p 500. Stocks are going high ....