china steps in with another cash injection. this is following the fifth rate cut in 9 months. >> roller coaster ride set to continue. u.s. futures pointing to strong gains for the dow just a day after the blue chip index staged it's biggest reversal since the heart of the financial crisis. >> the oil price continues to take it's toll on transocean. shares slumping over 10% after

the offshore driller seeks to cut it's dividend for the next two quarters. >> a strong performance in the u.s. and u.k. offsets weakness seen in emerging markets at wpp. the chinese volatility is not a reason to write off it's prospec prospects. welcome to the show. it's the trade out of asia, china in particular catching the eye of the bank. it will inject 140 billion yuan or $21 billion via short-term liquidity operation loans. this after the shanghai composite posted it's fifth consecutive session of declines despite yesterday's rate cut. as you can see down 1.3%. let's get the word from sri

wrapping today's asian market trade for us. >> let me talk about this operation to inject 140 billion yuan via the slos. this is an attempt to avert a liquidity squeeze. remember the recent measures that we saw yesterday announced by beijing amount to some 650, i think between 650 and 750 billion yuan being pumped into the money markets in china a lot of people saying it's to offset the capital outflows as a result. so it seems to be a zero sum gain so this explains why

beijing today in the last hour or two is attempting to top up the liquidity tank. it's a short-term move and short-term in nature and short-term impact on the markets. tomorrow we could see it contribute to a degree of stabilization but once again this is arguably policy incrementalism by beijing. it does suggest a bigger broader more crafted package of measures so the latest measures are far from being big bank. might contribute to lift or degree of stability at the open for the shanghai composite. it was a curious reaction though in term of the pboc's easing yesterday and the markets today. it certainly benefitted some

quarters of the regional markets. the ones with strong trade linkages but for those that needed it the most, we were down for the fifth straight day we saw swings up 3% and down 3%. i would stress the sense from the market and the sense from everyone we're talking to today is that the pboc made a good start but must try harder and they certainly have the policy scope and ammunition to do so. >> thank you so much. those new financial instruments being unveiled by the chinese central bank not doing much for markets. futures are higher by 298 points for the dow. s&p 500 up by around 35 but keep in mind we did see futures indicate a higher open yesterday and we opened higher as well on wall street but then stocks faded into the session. here in europe we're lower.

stocks ending higher yesterday. reversing the gains today. xetra dax down 1.4% these european markets down more than 10%. you can see the cac 40 down in today's trade. that's sending the ftse 10 into negative territory down by 77 points. how are currencies looking? >> i'm wondering how much of this is technical as well, such a big market heading into the close. how much of it is technical too. >> perhaps a little bit of both. >> you have the pound against the u.s. dollar relatively unmoved. not to say we haven't seen severe movements because the euro dollar over here, 11469. so we're just moving a tad bit lower coming off of that run

that we just had. the u.s. against the yen also a little bit higher we could be looking at another dollar run to come given that nothing has changed in terms of the fundamentals over the last couple of sessions. we had all of the market volatility clouding a lot of sentiment out there. you might disagree and we'd love to hear from you as well. find us on twitter and e-mail as well. larry sommers thinks we should be look and considering another round of quantitative easing in the states instead of tightening and we're asking you if you feel the same as well. we'll talk about that later on and read out some of your comments. yields being pushed lower and shy of 1.9%. 1.86% and state side a yield of just above 2%.

commodities, oil coming back up just a tad but still holding on near very very low levels after the recent run gold as we have been talking about last week having seen a little bit of a run higher but market versus reversed that trade of late and been trading gold a little bit lower here within the last 24 hours or so. >> s&p lost almost $2 trillion of market cap in the last week and a half shedding $900 billion in the last two trading sessions. staging the biggest down side reversal since october of 2008. the s&p now officially in correction territory. joining us live from new york city, carter worth, head of technical analysis. great to have you on the show. we tend to focus so much on the fundamental story and how that seems to be weakening when looking at fed policy in china but help us understand the technical view.

are stocks looking vulnerable here? >> sure. it's an outright mess we had something of a crash. the s&p is the same it was in late december 2013. so a year and 8 months of progress wiped out essentially in five or ten sessions and that's the problem when risk-reward is not favorable. if it's come a long way and starts to show negative characteristics. which has been the circumstance now for many, many months, when you do get, and invariably you do get a draw down, you're not compensated for having remained too long. believing too long in the bull. so this is the problem. we have a very bad tape.

>> what are the next levels we should be watching on the dow and the nasdaq. the dow is down about 12%. nasdaq down about 5. >> right. i mean, obviously the auto correlation is very high so you can look at the trajectory of the last 1 or 2 weeks on each index and it's really the same thing. what's important is where we are in relation to prior reference points so in the case of the s&p which is the big story in a sense because it really is the reflection of the u.s. market as best we have, the october lows of last year are in place. that was october 14th t. low was 1820 and change and we're not much above that now. so our thinking is that we will of course go to those lows and ultimately we'll break those lows. there's every indication that this kind of volatility and hurt

to investors is not going to attract new money and bors it will cause existing money to want to lighten up leave to take measures. >> good to see you. larry somers among others indicating that the fed should consider more quantitative easing instead of tightening. what do you think about that? >> think about that. here we have china is doing it. it's rampant in japan europe of course, whatever it will take. that's what we heard. that's the mantra worldwide. we'll pump whatever it takes to get our market share back. these are sort of not words of confidence. they're words of desperation. so if you have someone as establish seemed as larry

sommers thinking that so what does it mean if we have to do measures six years ago at a bottom to save the situation and here we have six years later and we still need to do measures. it's not good. >> carter, thank you very much. thank you for getting up early as well. >> thank you. >> it's still sleepy time. >> shares of transocean trading sharply lower after seeking approval to cancel it's 3rd and 4th dividends. they cut the payments by 80% from last year as it deal with the slump in oil prices. it expects to report an annual loss of more than $2 billion. it's hit hard by the slow down in offshore drilling as oil producers pull back from higher cost deep water areas.

>> specialty maker osh kosh will replace aging hum vies. the private company that built the originals. analysts favored them to win the contract citing it's record of cranking out custom all terrain vehicles for u.s. troops in afghanistan higher here in europe. >> still to come, hot or not, we'll look ahead to the q-2 earnings report and talk a bit more about the retail sector.

all right. wpp has reported a 2% increase

in like for like net sales which was in line with forecasts. the world's biggest advertising company continues to benefit from consolidation trends in the industry and growth in developed markets helped to stem losses due to the strength of the pound. speaking to cnbc earlier he said he is still bullish on china there's a correction and the economy is under pressure there. we saw in our own results the first quarter was quite strong. the second quarter was very weak. july was actually a better month forecast through the end of the year, rather like the e-mail that was sent to cnbc by tim cook i haven't seen the august numbers but july was stronger. i'm a little bit more bullish than you are. it's not china's problem in 2008.

the issue now is whether the fed will react to what we're seeing in china and elsewhere and the devaluations in the currency war that we're seeing in various markets by not increasing interest rates. >> look at gdp growth. it's tepid in the back end of 2014 and into 2015. there's no inflation. very little pricing power a focus on cost. if you look at our results in the context of that our top line growth is reasonable. we have strong margin improvement and strong profitability. that reflects the real world and the real world is those fast growth markets have been slowing. the real world is the mature market versus been relatively better. >> all right. i'm just looking at some flashes we're getting through on our wires via dow jones talking about how the treasurer in australia says that the market reaction to china's slow down is overblown. they're confident that china's economy is fundamentally robust.

he doesn't see the devaluations as a currency war and says that a u.s. rate rise should be seen as a positive thing. he was speaking in an interview earlier. so the china slow down was overblown. you might think they might say something like that given how important china is to australia. in term of trading partners. the biggest trading partner. so he's maybe trying to stabilize the mood of it. >> lite of leaders and executives have been joining the conversation around the health of china and they're eyeing pricing opportunities in china. interesting depending on if you're an investor or leader or treasurer in australia. we'll focus more on the retail sector which is under pressure as of late given the volatility

in stock markets. a tough quarter for retailers. q-2 results and expecting comparable shares to fall by 5.5%. it will likely decline year over year with analysts forecasting a loss of 4 cents per share. the stock is down about 60% in the last 12 months. this as they embark on a radical overhaul plan to phase out it's basic logo merchandise and focus more on fashion look at names that have done very well in this bracket that appeal to the teen young adult. >> forbes they have an article where they talk about how they changed their marketing strategy completely and they're move agoway from this whole sex appeal thing. >> i thought that worked.

>> really? >> and now they're going much more underplayed. they have been performing very poorly. they keep missing on their numbers. shares down by more than 90% over the last year. consistent weak financial performance and they're going from the young teen market to try to move into young adults. >> do you go shopping there? >> when i was a kid. >> five blocks away you feel the perfume. >> and the music you hear as well. >> it's so loud. it's so loud. >> it's crazy. >> >> take ear plugs. >> still to come, forget about share price. we reveal which billionaire entrepreneur had this unconventional piece of advice for his staff.

don't go away. you're watching worldwide exchange.

♪ no student's ever been the king of the campus on day one. but you're armed with a roomy new jansport backpack, a powerful new dell 2-in-1 laptop, and durable new stellar notebooks, so you're walking the halls with varsity level swagger. that's what we call that new gear feeling. you left this on the bus... get it at the place with the experts to get you the right gear. office depot officemax. gear up for school. gear up for great. welcome back to worldwide exchange. larry sommers indicated the fed should consider another round of quantitative easing instead of tightening. >> sommers isn't alone. he also believes the fed's next

move will not be to tighten policy. >> and more economists are weighing in on when they think the fed will or won't start to hike. jpmorgan is saying the odds of a september hike are shaky. 35 to 40% but that still remains the most likely meeting for it to happen. there's signs of containment he says and we have been asking what you think about whether or not quantitative easing is going to be happening. kenneth writes in and it's pretty substantial. it's pretty phenomenal if that were to happen but he writes in and says weak copper prices tell us more than anything that all is not well with the global economy. i'm an economist. i know this. larry sommers says -- i'll skip that line. >> we have more right here. actually tweeting in and says there's a 11% chance of a fed meeting in september.

a 50% chance they will raise rates and a 75% chance people will make the wrong prediction. paul saying more likely a unicorn will win the triple crown next year. so get in touch with us. >> loads more tweets coming through. some saying he's completely clueless. overrated. all he seems to know is about money printing. i'm not sure where we'd be without money printing? better off or worse off? i don't know. >> the chinese market will have a soft landing. the euro is feeling the pressure of being the new trade currency. keep your comments coming through on twitter. >> of course china a big part of the story when discussing fed policy. let's get back out to carter, head of technical analysis.

we're keeping a close eye on the shanghai composite trading lower. what are the technicals telling you when looking at the chinese equity market? >> it's just the same story in a different cloak. this is a typical or if you will prototypical boom bust and you have a bit of a ricochet and now it's fading. this is a promise too. this is where the trouble started for others but either way it's not really improving and we know it spilled over to the nikkei. nikkei down 15% in a few days despite it's recovery today. here's a statistic. the all country world index, that would be about 2,500 companies from 24 developed markets and 23 emerging markets.

that's the same price it was almost 3 years ago. equities as an asset class are spinning their tires or worse so does the volatility, does all this discussion of more easing and more health, extra he from the teacher, the teacher being the central bank is this a healthy student or a student that has a big problem. >> let's bring this back to the u.s. market. is there a strong correlation or high correlation between the chinese stock market and u.s. stock market. >> sure it's almost everyone in or everyone out. we have a lot of correlation worldwide. there's liquidation.

distribution. people selling with abandon. that's not typical of a healthy environment. >> okay. well, we could potentially be in for another interesting day on wall street. futures right now indicating a higher open. let's see what happens. carter thanks for getting up early with us. >> thank you. >> still to come here on the program, the energy sector is already in bear market territory. how much though would it have to fall to break a record? we'll drill into the details coming up here on worldwide exchange. good morning, everyone.

30 minutes to go until we hit 6:00 a.m. on the east coast. >> these are your headlines from around the world. >> china stepping in with another cash injection. this after a short lived rally for the shanghai composite following the central bank's 5th rate cut in 9 months. >> the roller coaster ride set to continue. u.s. futures pointing to strong gains for the dow a day after they staged the biggest reversal since the heart of the financial crisis. >> the oil price continues to take it's toll on transocean. shares slumping over 10% after the offshore driller seems to cut it's dividend for the next two quarters. >> out with the old and in with the new. winning a $6.8 billion contract

to build 17,000 armored vehicles. >> remember yesterday stocks initially responding positively to the latest round of interest rate cuts to the china central bank but that only worked a couple of hours. toward the end of the session stocks started to fade and markets dipped into negative territory. a reversal for stocks. right now futures are indicating a higher open. up triple digits on the dow in premarket. nasdaq seeing a gain of 63 but here in europe interestingly enough we are lower. big gains in europe yesterday with the dax gaining nearly 5%. in today's trade we're down by

1.1%. the ftse 100 below 5,000. down by 1.4%. you'll see the cac 40, the french equity market and italian equity market also trading in negative territory. if you look at where we're seeing the weakness it's the stock with high emerging market exposure so not just china but emerging market exposure selling off and that's what's weighing in on the major indices at this point. a quick look at asia. that's dominating the investor discussion. those moves taken not just yesterday but this morning as well unveiling these new financial instruments. shanghai composite ending lower by 1.3%. a volatile trade though overnight. we did see stocks open higher in china but then end lower by around 38 points. hang seng index in tandem by 1.5% but there was some green. the equity market after moving lower this week seeing a bit of buying here after the yen started to weaken overnight

against the u.s. dollar. >> so both the hang seng index as you saw lower on the close. shanghai index off as well. we have news coming through via reuters that the chinese financial futures exchange, they're taking controlled measure nous agains now againsts to curve excessive speck grew lags. t . >> so a lot of moving parts and a developing story out of china. question is how do you make money in these markets? here is what a range of investors have been telling us this morning. >> so now is an interesting time to start look at individual stocks that might have been oversold. so for example i saw a company called bundle yesterday. quite a boring company. they make like coffee stirrers and distribute them but, you know, it's come down quite a bit. it's a really solid business. it's not hugely impacted by chinese growth.

>> what you need to look for is companies that can sustain free cash flow. that enables them through a cycle to deliver earnings growth and returns to investors. that's how we do it across all of our markets. in russia right now the retailers and the technology companies look very interesting but we see that similarly in some of the sports retailing in china. >> there are many good value situations in defensive type equities. i'll point you to the tobacco stocks where you're getting good yields. not going to be impacted even if the economy does slow down. the pharmaceuticals similar implts now all 10 s&p 500 sectors are negative year to date but none hit as hard as the energy sector. it's down by more than 26%. a second consecutive negative year after losing in 2014. it has a little further to go if it's going to be equal to its '08 record where it lost almost

36%. so the energy sector has been hit pretty severely year to date. good morning, michael. what do you think is going to happen to the price of oil given the changes in the global environment and also that it seems that the oil producers are still producing more than the demand side of the story. >> yeah, the market is still oversupplied by about a million barrels a day. that will keep downward pressure on the price of oil. that along with global demand and health of the global economy to near term oil prices will probably continue to drift lower. you have to look out long-term to see a correction. back half of 2016 and even into 2017 before things come back into balance but you'll have to

buy good quality stocks in front of that. they typically move 5 to 6 months prior to an oil price recovery. >> michael, how closely are you looking at what the rig count is at the moment? i'm asking this and glancing at a flash coming through via reuters that they are stating t they are seeking permission to shut three oil fields due to the lower oil price and focus on costs. i'm thinking we feed to focus more to see what the rig activity is in order to get a sense of the direction of the oil price in the future. >> yeah, the rig count did bounce back up. went up to 678 from a june bottom of 628. really got a signal from the u.s. producers to go back and try to drill when oil popped up

here in the u.s. to about $60 earlier this year. that turned out to be a false signal. i think the rig count is going back down. i haven't seen any producers in the u.s. shut in production yet. i think real high cost areas does make sense to stop producing. i don't think you'll see that on a widespread basis here in the united states. but i think the rig count is going to go back down and u. s. production looks like it's going to rollover. it's starting to. it may have peaked in april of this year and might be down in the fourth quarter. >> let's bring this back to the market. s&p energy sector in bear market territory is the worst performing sector when you take a look at the ten sectors that make up the s&p 500. does the story get better or worse from here michael? what do you think? >> i think near term there's not really a catalyst to turn it

around and make it better but at some point in 2016 you buy the stocks in front of a rebound in oil prices. you still have iran and saudi arabia jostling for market share. that will continue to put pressure on oil prices and it will be real interesting to see how the december opec meeting goes. by all accounts it looks like saudi arabia doesn't want to make room for iran so i don't think you have to be in a big rush to buy oil stocks but at some point in 2016 there is going to be a point where things do look like they will get back into balance later in the year and you'll have to buy high quality stocks in front of that move in oil. >> michael, when do we get a point where we kind of level off between what still is global demand for oil? there is oil used globally regardless of what the markets

do and when do we level off between the market volatility and a potential leg lower and the global oil demand remaining neutral? >> well i think that's probably in late 2016. it's going to take that long based on opec's policy. the markets oversupplied by a million and a half barrels a day. if you go back to the november opec meeting when they didn't cut that made a lot of sense to us. we anticipated that and down fwrad graded our group in front of it. the market was oversupplied by a million and a half barrels per day. since that time opec racheted up it's production by a million and a half barrels per day so had they maintained the market would be close to balance now but based on the policy they have

taken particularly in iraq and saudi arabia which really fuelled all the growth within opec the market remains about a million barrels a day oversupplied. with iran coming back online it looks like it's going to take some point in late 2016 before demand is allowed to catch back up in july. >> thank you for joining us this morning. should be an interesting ride going forward. research analyst at stifel. the other stories at this hour, goldman sachs raised it's rating of google from neutral to buy this morning and added the stock to its conviction buy list. google is in the early stages of a multiyear cycle to expand margins. goldman is also more positive on their ability to accelerate monetization potential for mobile search and youtube. google down by 1.5% getting caught up in the broader tech sell off that we saw in

yesterday's trade. >> 97% of the s&p tech sector is now in correction territory or worse including 37 stocks in territory. micron technology down 52%. another notable stock includes apple. you have hp and yahoo! also there. they're off almost 40% from their 52 week high when it comes to yahoo! >> also take a look at alibaba because alibaba's chief executive told employees to keep their eyes on the true prize and forget about the company's share price. this as alibaba stock fell below the ipo price for the first time on tuesday. the ceo urged his staff to focus on the customers and said he faith in the chinese economy. alibaba joins twitter as the second highest tech company to sink below it's ipo price in less than a week. >> amazon is extending it's prime now service to seattle. it will start to deliver

alcohol. the first for that in the u.s. >> there you go. >> it's a 1 to 2 hour service available to current amazon prime members in select cities. it was launched in manhattan last year. it's in miami, chicago, dallas, austin, a whole bunch of cities and when you're looking at the share price out there we're lower in german trade over the last three months down by 7%. >> this as futures indicate a higher open. coming up on worldwide exchange, one u.s. company is celebrating today as it wins a major contract to move u.s. military personnel from point a to point b. we'll give you that full story after this break. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?

can a business be...alive?

excuse me, sit down. you weren't called. sit down. sit down. no, you don't. you haven't been called. >> i have the right. >> go back to univision. go ahead. go ahead. >> well the univision anchor was removed from the conference after he was accused of asking a question out of turn. he was eventually allowed to return to the event where he pressed trump on his views on immigration. >> let's get back to markets.

the slump in oil prices has taken it's toll on the industry as another big company is counting up it's losses. let's get out to landon dowdy live at cnbc headquater with more on that story. >> hey, good morning. transocean is seek shareholder approval to cancel it's 3rd and 4th quarter dividends. they also expect to report inpari impairment charges and concerns about the timing of a potential recovery. moodies put the ratings of 11 offshore drillers and transocean on review for a downgrade saying they would face an extremely challenging environment through at least 2017. transocean has been hit hard by the slow down in offshore drilling as oil prices cut back on high cost deep water areas and exploration activities. the company expected to report a loss of more than $2 billion this year. shares are down about 70% since

oil peaked at $115 barrel last june and are down more than 10% today in zurich. and oshkosh won a contract to build 17,000 armored tack any cal vehicles for the u.s. army and marines. it would replace the aging fleet of humves. they beat out competing bids from lockheed martin and bae systems and am general, the private company that built the original humvees. analysts expected them to win it due to their custom made vehicles for troops in afghanistan. they're up about 5% today in europe. guys over to you. >> landon, thank you very much. good to see you. >> moving on, burger king is calling for a ceasefire with mcdonald's proposing the two fast food giants combine their most iconic burgers to create

the mcwhopper. the marketing stunt is aimed at generate a generali generating awareness for peace day. if mcdonald's agree they'd sell them at a pop up store in atlanta. customers would pay for the burger not with cash but a declaration to end their beef with someone they know. >> now mcdonald's is in a funny situation. because if it says no -- then they look bad don't they? >> i like the story. >> it's a great idea. >> why not. >> if somebody came to you and they said let's end our beef, would you do it? >> i don't like to hold grudges. move on. you forgive but you don't forget. >> you don't forget. you can't keep living in the past. >> got to focus on the future. >> the future of our headlines look like this. chinese central bank stepping in with more stimulus after the 5th

consecutive session of losses. u.s. futures pointing to a higher open following yesterday's disappointing rally and in corporate news, amazon's one hour delivery service prime now will start delivering alcohol in it's hometown of seattle. hello. oh. yes, hi. want to survive... ...a crazy busy day? start with a positive attitude... great. thanks. ...and positively radiant skin. aveeno® positively radiant moisturizer... ...with active naturals® soy. to help reduce the look of brown spots in just four weeks. i gotta go. and for gentle makeup removal... try our nourishing wipes to brighten skin. aveeno®. naturally beautiful results®.

welcome back. european equity markets look like this. we recall significantly earlier this morning still seeing selling taking place falling on from a substantial rally yesterday. we were looking at the xetra dax closing higher yesterday. the ftse closed higher yesterday and the french market cac closed

higher by 3% yesterday and now off by 2%. a bit of a reversal a flurry of activity. the financial futures exchange said ilts taking measures to curb excessive speculation. they announced plans to inject 140 billion yuan amid short-term liquidity operations. this after failing to hold on to gains initially. let's get the full story from sri live in singapore. over to you. >> yeah, there's been quite a bit of news flow after the markets have closed. let's start on the two headlines that you referenced there. i think my initial impression is

that this could hit the brokerages and it could accelerate the deleveraging process in the china stock market. we have seen it wind down but it could accelerate that process after leveraging and then beijing trying to stave off the liquidity crunch and releasing it into the market via the short-term liquidity operations. i think this is yet more incremental policy. this isn't big bank shock and awe. let me explain why. yesterday's policy support members released 650 billion yuan into the money markets but it does sound like a good start but some say that it's to sterilize the consequences of

the devaluations process and that trained a lot of liquidity from the system. it doesn't really contribute to anything. not really and perhaps that explains the markets indecisiveness and relative in difference to the policy support we saw yesterday. perhaps these most recent measures, this liquidity injection of 140 billion yuan may help to contribute to stabilize the market but only in the short-term. in the longer term, what the markets really need, what the economy really needs is more confidence boosting measures in the form of more monetary easing, more aggressive monetary easing, more fiscal support and a weaker currency as well. that's where we stand. back to you. >> let's get everyone caught up on u.s. futures. how could we open today on waultd? well, futures pointing to a higher open. the dow up 24 points. the tech heavy nasdaq up 55

points in premarket trade. s&p 500 lost nearly $2 trillion in market cap over the last 1.5 weeks. we are slightly higher in today's trade. gold interestingly enough not seeing any buying at this point down about another half a percent at 1,134. >> we have been asking you how likely do you think a september rate hike is now and do you think the fed should be leaning toward easing as opposed to tightening. that was something that larry sommers suggested. michael tweets us saying that the fed rate hike would be more symbolic than significant. it would only feed the problem of mispriced risk. >> the fed should start qe once again. no way the fed will raise rates now. you can find us on worldwide

exchange. get in touch as always. lovely seeing you. >> lovely seeing you. >> squawk box is next. see you later guys.

good morning, are you ready for another roller coaster ride? u.s. equity futures are pointing to a sharply higher open on wall street but there's one thing we learned recently, a lot can happen between now and the close. a lot can happen between now and the open. trading session in china overnight, stocks bouncing between 3% higher and 3% lower and finally closing down about 1% and in europe red is the color of the morning but responding to the late sell off we had here yesterday. stocks are down in early trading there. it is wednesday, august 26th.

that's my mom's birthday. happy birthday. she would have been 93. and national dog day. national dog appreciation day. it is 2015 and squawk box begins right now. ♪ good morning and become to squawk box here on cnbc. i'm andrew ross sorkin with joe and michelle. if this week's trading left you nauseous it's for good reason. the dow traveling another 1600 points back and forth during yesterday's wild session and if you add the last two sessions together the blue chip index has now moved 6500 points all in. dropping for a 6th consecutive day and this marks the first six day losing streak for the s&p andas