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What will you do after 2021 im going to use my imagination. Im going to go to disneyland. It is wednesday, february 26, 2020 Worldwide Exchange begins right now. Good morning and welcome to the show, im dominic chu in for Brian Sullivan today wall street is waking up with a black eye after another down day for major averages, the dow is down over 6. 5 the worst performance since february 2018. You can see there a huge move. A much worse picture on a points basis. The dow has come off a twoday point loss the dow futures this morning were positive. A lot of green throughout the course of the session. Within the last hour, we took a huge leg lower to the down side. To point out, at the highs of the session and the lows, we have traversed 641 points. To give you an idea of that big swing weve seen the bond market a key focus. Record low levels now for the 30year long bond. Th ....
Of crypto and we speak to the ceo of the scanning cryptocurrency project world coin. Nasdaq 100, very tech heavy index, add session lows, down more than 2 . We had hot labor market data, the treasure issuing debt, that is weighing on things and earnings story at the center, you think about semiconductors in particular, the stoxx or philadelphia index underperforming, down 4 , double the decline of index, the biggest drag amd. We will get to that in the second. U. S. 10 year yield above 4 and bitcoin moving back above 29 thousand u. S. Dollars, the token we will focus on crypto halfway through the show with sonali basak. The earning story, two names in particular, to start with amd, it beat on the top expectations in the quarter gone, sides of recovery in the pc market, a longterm projection about the Market Opportunity for them in the context of ai and Ai Accelerators. I ....
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And currencies ahead of europes close. Speaking of m a, a massive deal in tech. Why cisco bought splunk and what it might mean for more m a in that space. Topping the tape, higher for longer. Are stocks setting up for a test of the august lows . Senior markets commentator mike santoli is with us. Does feel like stocks are playing a catchup to bonds, which were ahead on the higher for longer. To a degree, yeah. Were sort of arguably in that test thats under way. The s p 500 about 0. 50 where it bottomed out in midaugust. Its also the lower quarter ep end of stocks are waiting to see if longer term treasury yields were, perhaps, topping out around those october highs. Now weave clearly broken higher. What happened with the fed yesterday, even in broad strokes, as weve been saying, not a radical change. Theyre done or near done. Any moves come slowly, theyll be careful. They did remove those potential rate cuts, however anything longer than six months is all kind of hazy on the horizon. W ....