Eisen. Lets get straight to the market picture. A massive selloff again yesterday. We were down over 4 for the dow. A lot of the selling coming late in the day as we have seen through some of these days of volatility and selling, we are now down 6. 5 week to date before today for the dow. That following a 4 fall last week the falls week to date for the other two indices, about 6. 5 . The dow and the s p are in correction territory, which means a pullback from the highs of 10 or more the nasdaq 100 also in correction territory the nadz dsdaq come podposite d this morning we are expecting to bounce back higher by more than 1 on all of those indices the dow higher by 1. 2 the nasdaq higher by 0. 9 . Tenyear treasury note, Rising Interest Rates la behas been a g reason for this selling. The high yesterday was shus sjuy of 2. 9 . 2. 842 is the number. Its been a volatile week for Global Investors the selloff has been pronounced in asia which did end the week lower, lower by 2. 3 for japan,
Finds over the carmakers cheating jay y. Lee is set free from jail shares of the tech giant trade higher and German Coalition talks continue past the sunday deadline as Angela Merkel conservativ conservatives and the spd fail to find Common Ground on the labor policy okay lets bring you up to speed with the eurozone pmi numbers if im just trying to bring them up here. And i think oh, here we are, eurozone generally, final composite pmi number is a strong one on the face of it. 58. 8, 58. 6 was the flash number, so weve exceeded expectations on that one. The december final number was 58. 1 so, this is a very strong number for the head line final composite. Lets break this down. Final services pmi coming in at 58 above the flash figure of 57. 6 the december final figure was 56. 6 the final composite price for pmi, 54. 8. 54. 6 was the flash, the final, 58. 2 so far, so good. The numbers are exceeding what we saw in the prime month and also at first blush. New business pmi, lets give you
5. 2 trillion in worldwide markets. Amundi some analysts worry is too conservative. We are in this period where we dont know who will be the faster or the question of overvaluation. The u. S. Government shuts down briefly but the Senate Passes the budget deal after a midnight deadline raising hope that a full agreement will be in place before most americans wake up good morning its friday, tgif. We had another weak session in the u. S. Yesterday dow jones was down about 4 . The hand over from asia was not that pretty either we saw the nikkei down 2. 3 down overnight. We saw weak performance in chinese stocks, down about 4 . Some of that is due to liquidity being squeezed into the Lunar New Year the picture for europe, we started off quite weak, but since then european stocks have been trying to make a comeback clawing back towards the zero line stoxx 600 is down about 0. 2 lets look at individual bourses. Yesterday we had big moves in the dax. It was down 2. 5 in yesterdays trading. It
The riskoff sentiment also rattled the crypto world bitcoin falls to 6,000. But the ceo of bp tells cnbc that the rough years are over for his country, shrugging off the recent market volatility as they post betterthanexpected fourth quart earnings. We have gotten through years of difficulty. This market turmoil, we are only back to where we were on the 1st of january were very longterm good morning a bit of a bloodbath in europe the ftse down about 1. 65 . The dax almost down 2 the cac down 1. 25 and the ftse mib down 1. 25 . Lets look at the sectors across europe its not a pretty picture for any of them. We can see basic resources down 0. 25 . Financial services down 2 down. Industrials down almost 2 not a lot of good news for investors in europe. After a long stretch of complacency, volatility is finally back lets look at the vix. Note that it posted its biggest oneday jump in almost two years. It was interesting to note just the evolution of the selling on wall street overnight. It
And im Courtney Reagan in for sara eisen thanks for joining us today. This monday morning after the super bowl, if youre up, you might be a little tired. But may also want to be somewhat elated if jim is watching i hope hes asleep after a big night of celebrations. If hes not, congratulations to him and all eagles fans. Lets get to the markets a roller coaster ride last week particularly when we saw the dow sell off 2. 5 . The nasdaq and s p both down 2 . For the week as a whole, the dow was off more than 4 nasdaq down 3. 5 and s p in between those two dow about 127 points, nasdaq 12, s p, 9, clearly much more muted than that massive selloff we saw on friday. Worth pointing out on friday, all 11 sectors were lower for the week Energy Materials were the worst. Health care and tech also pretty bad. And yield has been a crucial factor for markets over the last couple of weeks. The fact that yields have been rising have spooked some investors. They got to 2. 85 on friday clearly, its still