00:00 Speaker A
the Dow down about 700 factors, the S&P 500 down 2.2%, the Nasdaq down about 3%. What had been they ducking into? Keep in mind final week, they had been promoting shares, US bonds, greenback, all US belongings. Not at this time. You take a look at treasuries, uh, they catch a bid. They’re rallying. I am trying on the 10-year benchmark right here, 428. Now over to Jared for a better take a look at at this time’s sector motion. Jared.
00:48 Jared
Thanks Josh. 24 hours in the past, we had been celebrating the dearth of volatility and the boring markets, not at this time. We’re seeing a resumption of the downtrend with the Dow down nearly 700 factors. The Nasdaq main the way in which down 3%, even the Russell 2000 off about two and a half %. And simply volatility, I have been monitoring the VIX very carefully. Uh, it hasn’t jumped up an enormous quantity at this time, but it surely it simply appears very comfy and it is a year-to-date look, uh, hanging above the 30 degree. And that is one thing you see when establishments are nonetheless dealing with a variety of uncertainty. In order that’s a pattern that, uh, we see persevering with right here if not resuming. Icebova transfer index, the VIX of the bond market, that is nonetheless elevated as effectively. That is one other year-to-date chart, however not an excessive amount of motion from the day prior. And let’s take a look at the 10-year T-note yield. Uh, Josh, we’re simply that. It’s down 4 foundation factors. Not an enormous transfer, but it surely was solely final week that we noticed that massive bounce up and, uh, volatility that we’ve not seen, transfer up that we’ve not seen since 2001. Let’s take a look at the sector motion the place we see solely power ending within the inexperienced at this time. We’re simply speaking with Dan Dicker in regards to the oil market, crude oil up at this time. Uh, so power inexperienced, however its antithesis in these markets, uh, tech down 3.5% and a variety of occasions, the previous occasions, uh, we noticed power shifting the other means of tech. That pattern has resumed, however look what else is down. Every of the mega cap sectors. So not surprisingly, if we check out the Nasdaq 100, I see a crimson right here. A pair inexperienced spots, appears like Technique Fang within the inexperienced right here, Greenback Tree, however Apple down 4%
03:45 Jared
Microsoft, Nvidia down. Nvidia down nearly 7%. And naturally, the, uh, the decline began final evening on a few of that information relating to Nvidia and also you see this manifested within the semiconductor display that we’re proper now. Taiwan semi down three and a half %, AMD down, uh, over seven, ASML additionally down greater than seven. So dealing with some fairly steep losses there. Additionally seeing this bleed over into software program or we’re not seeing an entire lot of inexperienced right here. Microsoft down three and a half %, Oracle down three, CrowdStrike down three. After which lastly for tech, unprofitable tech, you see a few inexperienced spots right here, Shopify, Roblox, DraftKing Unity, uh, however for probably the most half, seeing extra crimson than inexperienced. Um, I’ll go to, I need to depart us off on a inexperienced display. So for that, I’ll ship us off on power the place we see Exxon up 1%, Shell up 2%, and, uh, slightly little bit of, uh, hope right here in an in any other case fairly crimson tape.
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