Snap Back Rally News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Give us a sense of what might be driving the numbers today and over the past few days. >> well, mr. melvin, we had what had been a really oversold market. the market had suffered before the commercial break. its worst december since 1931. down about 15% in the month alone. down almost 20% for the year so you lad to expect something of a snap back rally whether it's a bare market rally that remains to be seen. you see these conditions on ongoing bare markets where you get corrections to the upside that are short, sharp and alluring. in bull markets you get corrections that are short and scary o...

From retailers. >> amazon reporting it sold a report number of items over the weekend. the markets appeared on track to track the worst december since the great depression amid concerns over the government shutdown over the future of federal reserve chair jerome powell. the administration tried to reassure investors. >> you made it very clear that secretary mnuchin's job is safe. is the fair chairman's job safer sflp yes, of course. >> 100%? >> absolutely, theater, yes. >> that was a signal that politics wasn't going to take over economic policy and investors liked hearing that. >> fears of an...

Risk we pull out of nafta as well, which would be as big, if not a bigger deal, than these global tariffs open steel and aluminum. there's also the issue of whether or not the u.s. economy is moving towards an overheated stage that leads to higher interest rates which again would be problematic for stocks. if the president backed away from this, you would get a snap back rally, a big rebound and it would be what we like to call a tradeable bottom. whether or not we're out of the woods in the longer term remains to be seen. yes, you would have to see the president back away from this particular...

these folks weren't rioting like we have seen the past several days. they were there to clean up. now the problem is that the violence, looting and arson has spread to sever other british cities besides london. also a nationwide manhunt for two brothers and their older sister accused much opening fire on a florida police officer, then robbing a georgia bank. you're seeing the three siblings there and authorities do consider them armed and extremely dangerous. all right. wall street did a bit of a u-turn yesterday and thank goodness it did. we don't know exactly what it's going to...

For the second half, we're looking at also consumer spending. that's really a key to the second half of the economy here. where the consumer is faced with a lot of higher costs coming up, increase in local and state taxes, as well as higher health care costs, as you saw last week. savings rates have gone up and consumers are pulling back their spending to save for the higher costs. >> okay. so today's rally may just kind of be a flash in the pan here? >> yeah, today's rally, we were down nine out of the last ten sessions so this is sort of a snap-back rally and you see that after bearish senti...