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Were at the lows of the day thats where we are. About a 600 point loss for the dow. Nasdaq a bit more than that. The russell which has been a real outperformer giving back 5 now. S p coming off its best month since 1987 we have come a long way off the lows april was an incredible month. We said best since 87. Are we primed to go higher in may . Are we poised to go lower because of how far we have come . You know my answer is i can make the case for either way but what im going to tell you is the weekly closing candle is disgusting now we had a huge comeback but even at its peak which i guess was some time yesterday or the day before, only 0 of s p 500 names had gotten back above their 200 day. So you had almost a third of the market back in some semblance of an up trend and we rolled hard look whats rolling. All of those beaten up names that rally this week, the airlines, the oils, the stuff we said okay, thankfully those shareholders got a breather trashed again today. Rollovers and h ....
Proved to be the new Magic Kingdom while the apple kingdom apple card cant shake its controversy. First its all about our top story, we work. Theyre set to face the securities and exchange inquiry into possible rules violation into the runup of its failed ipo. The agencys review was said to be preliminary and may not lead to an enforcement case. The company at one point was worth 47 billion dollars before it fell out of favor and needed a bailout from softbank. More outlets bring in congratulations on the story. What we know so far about the inquiry . An inquirythere is happening. It is early, preliminary, we dont know what might come of it. We do know that we work has taken steps to respond to it. They have hired who used to be the head of the Sec Enforcement Division who now works in private practice coming on to help them respond to this. This is also coming from ....
Pushed the dow into negative territory for the year. Joining the russell 2000 at this point. You got the dow industrials under pretty severe pressure. The s p and nasdaq up by 10 and 25 for the year, respectively. But they have seen their gains whittled away over the last several sessions too. The vix hitting its highest level since the turmoil in the regional banks earlier this year touched at about 20. Havent seen that in a while. Gr granted this is not the serious fear factor you get into, but we had an incredibly low vix for quite a while. Youre going to see that elevation, concerns about what happens next and people asking what are the odds of a Government Shutdown come november 17th. Thats the new deadline that is there and without a speaker of the house at this point, those odds jumped significantly. You also see that playing out in the treasury market where the yields pretty much across the board hitting the highest l ....
United nations calling out north korea come the socialist venezuela, iran, many have hailed it is the best of his presidency so far. The president s Approval Rating now at 43 according to wall street journal poll, that threepoint five was taken before the u. N. Speech. The neutron presidency apparently is working. Meanwhile, whats not working in puerto rico is the power. The entire island of threepoint 2 Million People out of power. Hurricane maria tearing through over the past 24 hours or the governor calling a catastrophic and unprecedented. Fema director brock on how long it will take to get puerto rico back up and running, how much it will cost in who pays. Stuart may take a day off, but it certainly doesnt. Big day and we are all over it. Varney company about to begin. Turn into half away from the market speed the features still sitting near record highs down a little b ....
Lets start out with a live look from Storm Tracker 4. In terms of lightning and any activity that we have seen is out of of the bay area. You can see the flashing lights on your screen. We are working up to dry conditions are right now but however, we may see changes within the next couple of days. We are holding on to seven days is fairfield and 60 degrees out the door in oakland. The temperatures are warm however, into the afternoon that when not be as warm as livermore was at a high of 102 degrees. 79 degrees will be your high today in oakland and mid 80s for redwood city. We have a red flag warning into effect until about 3 00 a. M. On wednesday. We have the potential for fire weather because it is dry outside. You should keep this in mind and the winds also will be gusty. The 7 day or around the bay shows that the temperatures will start to pull. Cool. This is something that we will continue to monitor. Northbound 880, all the ....