Wednesday. It started with a trio of Central Banksnt cuttingest rates, and that led to a sharp drop in ghnd yields, ghting the concern over trade tensions between the u. S. And china. At, in turn, led to a flight to safety. Investors piled into things like government bonds and gold. In fact, gold traded above 1,500 dollars an ounce for the first time in six years. Stocks sold off. The dow down nearlynt 600 p early on. Oil also sold off, falling more than 4 . T then the buyerstepped in and stocks reversed course. The dow finished down only 22 points to 26,007. The nasdaq rode 29 and the s p climbed 2. The indexes 2 reversal was its biggest comeback of 2019. Bob pisani has more. Reporter it was another wild day on wall street, the dow plunging almost 600 pointsly ear on before rebounding to end f essentiallt on the day. It was one of the great comebacks of the year. Mounting trade tensi heightened fears of a possible global recession, that has put more pressure on Central Banks including
Hour look at these large megacap Communication Services and tech stocks for where Shopping List items might be for any buys on the dips with that well send things out to see j man thats going to be a harder objective to achieve, if anything a stronger dollar will become a bigger pain for multinationals sectors like technology, industrials and Consumer Staples that derive in some cases 40 to 50 of their sales overseas. If the dollar continues to strengthen it will make American Products less attractive to customers outside the u. S. , especially in emerging markets where the consumer tends to be more price sensitive it also impacts profitability for these companies when they convert foreign sales back to dollars. Now, a handful of companies in the Consumer Staples space that make everything from shampoo to cereal have outperformed the Broader Market because of the dividend yield they offer. Kimberlyclark with a yield of 3 , General Mills at 3. 6 , but with Central Banks around the world
Became careless using their own phones to report fires. The European Union has notified safety authorities in britain, france, sweden and switzerland, that was precautionary measures that some bigs contaminated with an insecticide may have entered their territory. The European Commissions say that germany and the netherlands notified the eus both safety alert system over the weekend. Andhey notified the system to share the information so that. Verybody knows bigs are traceable. Great for European Commission also stressed that bigs contaminated with an insecticide have actually enter those countries. Belgian and dutch authorities are investigating how the insecticide came into contact. More hours a day, powered by more than 2700 i amalists and analysts, mark crumpton, this is bloomberg. Live from bloomberg in new york, Joe Weisenthal is uptodate. We are 30 minutes from the close of trading. Thisstocks are higher monday. The question is, what did you miss. Two titans of the bond market a
Slightly positive territory for some of the averages right now. The dow though is down ten points. About five off the s p 500. 1750 is the level. The nasdaq sitting just above the 4,000 mark off 20. Speaking of moment of truth, twitter with its first Quarterly Results since going public due to hit within the hour. Investors will get their first real look at the numbers. Well see if they justify a stock price thats now up more than 150 since that initial Public Offering here that we remember so well. We will get you those full results right after the bell. And were not finished with earnings either. Disney also reports. A big bellwether for the economy and bob iger will be joining us here on the closing bell as soon as the numbers are released. Twitter and disney, two very Important Companies reporting in this jittery market right now. And lets remind people where we sit. After a series of losses to start out the year and after the worst start to a february in some time, we look a littl
Amazon. Com. We are counting down to earnings. While disney, groupon and Electronic Arts and activisionblizzard. We have all of that reporting after the closing bell on street smart. Off 15, the p nasdaq down more than one percent. I want to go to julie hyman. Couple oftioned a them, aig topping the list. Financials have dropped the most, aig out with earnings and profits were down 27 because of higher claims cost and that is pushing down the shares sharply today. The worst performer on monday financials. Among the financials. Twitter is at the lowest price since the ipo. We have been awaiting the expiration of the share lockup. For saleon available today, that is quadruple the amount available for trading. Some insiders have said we are not selling but the market is. We are seeing a lot of selling in twitter today. And Discovery Communications leading the Consumer Discretionary stocks after reporting revenues that trailed estimates. Though shares are down by the most in that Consumer