Today . Well take it up. Much of the leftist media and Business Press were a agog overs inversion of the yield curb. Today, they seems declaring a recession in immediate offing despite more than 70s of country Biggest Companies quarterly earnings, higher than wall street has been expecting. And revenue of the companies in s p up almost 5 over a year ago. So what is the problem . The market sole off, and sole sold off, and sold off big, with us, jackie deangeles, what a day. It was, the worst steepest selloff of the year. We have seen a lot of volatility in august. Lou as is customary. But not with this wide of a band, this is something new. Yes, this is uncertainty, uncertainty over trade, worries about what is happening in other economies, in europe and asia and china specifically, weak data coming out of china. Also out of germany starting this fear mongering happening contraction of the economy in germany. Yeah. And speculation they will cause something that was compounded by invers
Some scratching their heads. It is thursday, august 1 au starts right now. Sno its a brand new day. Cheryl welcome to fbn a. M. And good morning. I am Cheryl Casone. Lauren good morning, im lauren simonetti. Are you feeling calmer this morning . Cheryl well, a lot of pepto bismol yesterday. Futures are actually moving weve seen this almost every day this week. Youve got a big selloff and the next morning in the futures market you get a boost or vice versa. Right now were seeing green arrows, the dow is up 113, s p up 15 and a quarter and nasdaq up 37 andahalf after that 800 point selloff yesterday. Lauren and what caused the 800 point selloff was when this happened. If you look at the yield on the two and 10 year treasury bonds, they inverted yesterday for the First Time Since 2007. It really spooked investors. Taking a look right now at both spreads, they are very, very narrow. Cheryl were going to take a look at oil. There was a big move in gold yesterday. Oil is still the story. The
i belong with you. you belong with me. in my sweet hey, ho, hey, ho. i don t think you re right for him. lauren: good morning, welcome to fbn: a.m.. i m lauren simonetti. cheryl: good morning. i m cheryl casone. lauren: let s take a look at how your money is moving this monday. we ve seen a small he setback on wall street, the dow is down 41 points, nasdaq down about 6, this after friday s selloff but taking that into consideration, the major averages ended last week with gains of at least 3% each. cheryl: gas prices down the last 19 days. we re watching oil. this contract is off about 20% from its january peak, traders waiting to hear how the coronavirus is affecting demand, especially in china. lauren: stocks in asia, mixed performance, the shanghai actually higher, dwayneing half gaining half of 1%. cheryl: breaking news in the u.k., four more patients have now tested positive for the coronavirus. the u.k. now has eight confirmed cases. the concerns about t