abigail doolittle will dive into those details. eresting because we have this reversal from yesterday's fit induced bullish rally -- yesterday's fed induced bullish rally. now we have this reversal that often happens when you have a dramatic move off of a fed decision. now we have the nasdaq 100 down, the nasdaq 100 down 1.6%, down on the week. nvidia down 5.7%. microsoft and tesla, the idea yields are lower, that suggests that because nothing fundamental has changed traders think yields may go higher in the future so they're pricing that in. . one of these stocks, we take a look at apple, this is a brutal picture. monday was all about the possibility of $3 trillion. now down 2.4%. the worst week in two months. if we look at the technicals, we see there could be reason for concern around the idea apple is frothy. this is apple in relation to its 50 day moving average. right now well extended above that moving average. investors excited. this as the rsi momentum indicator is starting to round down. that suggests this recent strength

abigail doolittle joins us with some market movers. abigail: pierpoint, you are wealthier to -- to your point, you are wealthier today if you invest in the dollar. interestingly, bonds are down just a little bit -- excuse me, higher. yields are down just a little bit area -- a little bit. they are fractional, keeping with these tiny moves. crude oil up about 0.7%. you can make the case that there's a little bit of risk appetite here, but very modest. matt: strategists are not optimistic for stocks in 2022. i have spoken with a couple of portfolio managers who think we are not going to see the kind of returns we have gotten use to over the past three years. abigail: the average forecast for the s&p 500 at the end of the year i believe is 5000 or thereabouts, so that does suggest there could be some sort of a gain, less than this year at the highest. that would be a double-digit gain, but perhaps some of the strategists are concerned about the inflation fears everybody is worried about because of course, operating margins are starting to

here's abigail doolittle. igail: we do have the s&p 500 higher for a third day in a row, up 0.7% now, near session highs. more than 3% over the last three days, and the s&p 500 on pace for yet another closing hi. this after the sky was falling feeling earlier this week and last week on omicron, but some hope around some treatments. the nested 100 also higher. bonds down, supporting the idea that there's a risk on theme. you have the 10 year yield in that sweet spot of not too high, not too low, right around 1.5%, in contrast to natural gas futures plunging. take a look at gasoline futures, up more than 1%. this has to do with a refinery fire at annex on mobile worth finery in texas, right in time for the holiday. not sure that is good news, but stocks at record highs, that certainly is. guy: we did see a fairly big drop in gas prices, natural gas prices come on both sides of the atlantic, so multiple drops on the gas front. let's turn to our question of the day, which was slightly inspired by our next guest. th

abigail doolittle is here with mark.triple witching day is living up to its reputation of more volatility. here's the nasdaq 100 come the futures on the training session. starting yesterday. up, down, down. up and now down a little bit. investors still trying to make up their minds what the fed tightening meant earlier this week. the variant year end positioning , plus all of these options expiration come the activity, lots of securities changing hands. as for what is weighing on the nasdaq 100, take a look at these big decliners. figures -- these are the biggest port -- point decliners and the nasdaq 100. apple technicals are overextended, suggesting we could see that back down to its 50 day moving average, which was around 1.58. that would be issued for correction if that were to occur it is a big weighting to the average so there is something to keep in mind. tesla down 7.2% rivian -- adobe down 16% on the week. it is not all negative. let's take a look at some of the bright spots. moderna, and then the old stay-at-ho

abigail doolittle joining us. how should i read what is happening? week to take a market signal away? abigail: that is a really interesting question and a good point. in the u.s. it is the holiday week and you can make the case a lot of traders are not present. i do not know what the volume picture looks like. maybe alix can take a look at that when we come back in to see whether or not the selling the serious at whether it is serious or not in terms of volume. the nasdaq down 2%, the worst three days since may. can see a spike in volatility, the tech index is up. traders not complacent. we have hedging going on or bearish bets. crude oil selling off, not getting as much attention. probably from alix it is. down 6.5%. a bigger rally in bonds. the picture suggests traders are fearful the virus variant could cause a shut down for the economy given that oil is down so much. here it is in the imap. lots of red on the screen. 10 out of 11 sectors down. those cyclical sectors, the reopening trades, they are down. as for the tech losers. it is not brutal rel

abigail doolittle, over to you. abigl:n., at one point down close to 4%, its worst day since may 4. nonetheless, not weighing on the index, nor are apple suppliers in the red. this is a bloomberg exclusive apple is talking about less demand for its iphone in the holiday season. investors do not seem to care. they also said revenue will be at a record, made up by other products and services. investors looking past it. this is not very fearful trading. as for sector wise, green on the screen. very cyclical dominated with financials and energy and industrials up top more than 2%. most of the sectors are back above 1%. we have three opening trade, visa and mastercard some of the top white boosts on the day. fisa saying spending is decent on travel. what a rebound for airline travelers. it is a seesaw day by day but right now the bulls are in charge. alix: a good recap. abigail doolittle joining us. a lot coming up in the next 24 hours. this afternoon president biden will deal out his winter plan to do with covid. we already have

abigail doolittle is looking at the movers. we are on hold. abigail: we are on hold.the week, we are looking at a decline for the nasdaq 100, down about 3%. it is interesting. typically, it is all about being on hold. this week, we have had some declines. the tech getting hit in particular. there is the on hold, a very small decline on the day. investors waiting to see there will be a hawkish surprise from the fed and what that would be. big tech really under pressure because of the possibility of rates rising. what is so interesting, and this was stunning to me, the yield curve this year has flattened tremendously. the 210 and 530 pointed out that the fed has been buying the long end and selling the middle and you have this inversion. what makes that so interesting, if it were to invert, that perception would be a recession. we do not have that economic data, but this is interesting. it could give the fed move will run. as for the s&p 500, the will room is causing another test of support. this is relative to a 50 day moving average and a 100 moving date -- 100 day mo

bloomberg's abigail doolittle is here with what is moving the market. is lower, the stock still higher. abigail: i am amazed by that because you typically would not see that. a very powerful rally after a brutal two days for the s&p 500, the worst since october 2020, and yet its biggest component in apple and 2.5%. the correlation on apple and the s&p 500 is broken down, so yesterday apple was at an all-time high. a little bit of evening out here. visa and j.p. morgan chase, yields are higher. one of the big stories on the day, oil. super interesting. it had been higher, this after having been down for two days, the worst november since march 2020. selling pressure having to do with fears around the variant, economic demand, the strategic reserve release, and then you see today a big drop lower as it was said that opec+ will be holding with their output hike in january, and then off of the low, so it seemed like investors needed that news to finally come out you not such a surprise, given that had been some posturing that they might do that in response t

abigail doolittle is here. abigail: it's another soft day here for stocks.had that rally midweek, it's been a big rehearsal. the s&p is down 1.2%. off the lows on the week, down 3.5%. it's the worst week since 2021 it. -- february 2021. really interesting it, the bank and ask is down 3%. yields despite being more hawkish on the week are down. that is a conundrum for investors. we will see a pretty significant drop coming in at 11 basis points, in contradiction to the fed saying they are planning on hiking three times in the coming year, reducing -- doubling the taper. investors at this point are buying bonds. that is something to think about. that should help. that's not what's happening. apple, microsoft, alphabet, a big declined. you would think this year was all about the stay-at-home trade. when we go into the bloomberg terminal, we will see where it is an investor to hide right now. we are looking at the reopening trade. at this point, we have the stay-at-home trade and the reopening trade down. that's a very difficult situation for investors. there are

abigail doolittle is keeping nine what's going on in the market. open, we had some solid green and it gave way to these mixed moves. on the open, tech was lower after opening higher. the stock is down 1%. maybe some questions of valuation. what is working with these concerns around omicron it, the reopening traded. we had the s&p 500 a higher. we had capital goods higher. that is counter intuitive's. maybe omicron is the worst of what we hope. as for the annual gain, you were just pointing out a good start. on the year, i think it's 27%. it's the third up year in a row. romaine: there is a risk off field in crypto. we've got bitcoin off 0.4%. pulling back on some of those crypto tokens. abigail: you have bitcoin going back below $50,000. there is a little bit of uncertainty. it's not a fully risk on day. we also had crypto rising. today is a more mixed feel. apple the last time i checked was down slightly. when this happened a couple of weeks ago, it's not happening. if it does happen, it's just incredible the rally the stock is had. in order for ap

matt: let's get over to a screen that will be joined by abigail doolittle to walk us through what is going on in markets. happy day after christmas. is boxing day? no, that was yesterday. abigail: it's a festive day here in new york, and to paul's point, and i sunrise. -- a nice sunrise. the s&p up 0.5%, the best since early november. if we stay higher come of the 69th record close of 2021. only surpassed by 1995. that is the kind of gains we have. bonds rallying just a little bit. the 10 year yield down by about one basis point, but right in the sweet spot of 1.48%. right in that level where it is not too high, not too low. clearly stocks seem to be liking it. bitcoin is up 1.5%, back above $50,000 per bitcoin. the gains do not extend to travel because there's also to delays and cancellations over the holiday weekend having to do with staff testing around omicron and other delays around the virus, so the travel index, the s&p 500 airline index down about 2% over the last two days. a real plunge from the gains we had seen last week. there had been some optimism that omicron was not go

abigail doolittle has details. abigail: a little rebound of stocks after the three-day selloff.of a half percent for the s&p 500. nasdaq up .3%. bigger gains for the russell 2000. you can make the case for a catch-up trade. the bank index up more than 2%. that has everything to do with the backup in yields. we have 10 year yields up eight basis points. this was after the fed went more hawkish with yield flat, but looking at a five day chart of the 10 year yield, this is the fed meeting, basically at the same level. around trip, one year yields, up, up and away, suggesting we may see yields go higher from here. as for the s&p 500 and the rebound rally, we can see that earlier this year in september suggesting that investors didn't know. now the 50 day moving average, above slightly. let's see where we go towards the highs there. there is some reason that we could see that case where they go towards the highs of the range. what way will it break? hard to know, but probably a 2022 event. guy: do you buy the first one and sell the second one? we will find out. president biden's econ

it's go to abigail doolittle. she has more on the markets. abigail: i think the key word is some movement because it is a relatively quiet day. not surprising in this holiday week. the s&p 500 up just about 0.2%. as you have mentioned, heading to a record close if these gains hold. the nasdaq fluctuating dust around even. i will point out, volume down even more than yesterday, if that is 20 day moving average. a lot of traders not in it. apple, i am officially on apple's watch for $3 trillion today. let's see whether or not that happens. as for next year, because this is a time when we are looking in strategist forecasts for the following year, most of the estimates are suggesting we will see a fourth up year for the s&p 500. the low estimate at 4400, not so much. the high, 50 330, a greater than 10% gain, so we could be looking at a fourth year of double-digit gains if that high estimate is correct. not sure what strategist that is. the average, 4950. whatever way you slice it, it does look like there could be gains ahead. thanks earlier had

abigail doolittle is here with the market moves. bad news, good news. ail: skittish news of the s&p 500 down for the second day in a row. the nasdaq down even more, but 1%. the second data row, also down. at this point we have seen bonds lower. a bit of a mix. you also have haven bonds. take a look in the spike and volatility. interesting picture. seems like we are back and forth. if we go to the terminal, we will see an interesting picture, too. what we're looking at in blue is the s&p 500. in white, the fall ratio. and it goes higher, says investors are concerned. so they were concerned in july. down, down, down. over the last month, the call ratio is going up. it would suggest some are hedging. you can see the put call ratio still relatively high, suggesting investors are little on edge as suggested by the vix. supporting this picture, investors do not know to make up the macro and certainties between the virus, the fed, inflation. bloomberg commodity index down on the day. i believe for the second session in a row. being weighed on by oil, natural ga

let's see where things stand with abigail doolittle. apple now holding up. down 1.2% from its worst day in two weeks. it was the day some people were expecting we would see $3 billion in market cap, but easing back. a bit of rethinking on the part of the bulls, the stock is pretty overextended. because apple is a 7% waiting to the s&p 500, we have that index down, the other index is down as well. this apple action seems to be weighing on some of the other big tech names. tesla, after elon musk, was named time's person of the year, shares down almost 6%. not related to what that company will be doing number wise, but it seems to be a sentiment indicator that the situation, the risk on sentiment has gotten too frothy. amazon, nvidia, google all down lower. on the other hand there is one pocket of brightness for the markets. lots of green for some of the vaccine makers. this as the omicron variant, it is said that two doses may not work, there may need to be a booster. pfizer, moderna, novavax, perhaps that up to offer a booster. you can see the shares of the v

bloomberg's abigail doolittle is here with the details. micron fears that it was really going to dent the global growth picture. he we are, three up days, heading to another all-time high. the s&p 500 up 3.4%. really and oppressive turnaround similar to what we have been seeing in recent months. clearly, a big piece of this is the reflation trade. banks are sharply higher as yields are higher. what makes this so interesting, the 10 year yield really in the sweet spot, you could make the case, for the fed. right around 1.5%. answer higher, earlier up 1%, but nonetheless a nice lift. we also have a nice lift for the travel trade. if we look at the last five days, you can see the hotel index, the airline index, along with wynn resorts and las vegas sands, are higher. big declines more recently, but nonetheless very impressive with the airline index. the hotel index actually up more than 12% over the last five days. finally, rounding it out, we have energy higher. we have exxon mobil and chevron higher, and of course, gasoline higher, up 0.7%,

let's go to abigail doolittle. she is going to give us the latest on the beginning trading session, the last one of 2021. abigail: the last one is showing very small volume, 52% below the 20 day moving average, so clearly lots of traders and investors are out already for the new year holiday. the s&p 500 fluctuating between small gains and losses. the big question is whether or not we can end the day with at least a small gain. that would be the 71st record close of the year. if not, 70 record closes in 2021. that is pretty remarkable. the nasdaq 100 down ever so slightly. bonds not doing all that much. we are seeing a bit of a to klein and crude oil, perhaps having to do with some worries around omicron, and of course, all eyes on 2022. most seem to think there will be again in 2022 for the s&p 500. the average at 5300, perhaps pointing to another double-digit gain. if that is the case, the s&p 500 now close to a 27% gain for this year. that would is -- that is three double-digit gains in a row for the s&p 500. mat

bloomberg's abigail doolittle is looking at all of the movers for us. esterday we had the big fed induced rally after the meeting, and typically we will see reversal of that, so we are having a reversal for tech in particular. the s&p 500 had slipped negative -- had slipped negative -- had flipped negative, but there's some thought that the ecb was not as hawkish as some folks had hoped. i believe that's what you said earlier. in any case, take a look at the s&p 500, net down 0.7%. probably down on the week. apple is down 2%, and then bonds yesterday flipping a low bit flat after the fomc meeting. now we have a bit of a rally as yields are lower. however, the trend for yield is higher. the uptrend really holds in a nice way. it is up in for that 10 year yield. you can see this over the last year. it is a very simple trendline. sometimes simple is best. you can see that there is a backup in yields. it has not been a straight line. finally, one reason to think that maybe stocks can close to the upside, we have another pocket of risk assets climbing on the

let's go to abigail doolittle. the ism services super strong, markets not really responding right now. abigail: though volatile this week, up, down, up, down. so much uncertainty with everything going on this week, starting off with the fed being more hawkish than expected, a new variant come economic data, jobs report, weak on top, strong below. net-net with the s&p 500 down about .4%, now headed for a weekly decline to but the real weakness is coming from china tech. look at that index, down 8%. worst day since 2008, that is the degree of selling power, coming from the likes of alibaba and baidu, pressured by didi dow 13.5 percent, being delisted from the u.s.. it is not surprising. the china tech cracked on can move into some of the other china shares. on the other hand, we have some winners. unitedhealth up, home depot, walmart, among the top stocks for the s&p 500. not a lot happening dramatically, but there is some strength beneath the lead for the s&p 500 away from tech. net-net, if you put this together in

abaco doolittle is going to slowly and calmly take us through the process. abigailke a look at the major averages here in the u.s. because we have a bit of a selloff. the s&p 500 down 1.7 percent. the nasdaq 100 of its lows, but over the last three days, the worst three days since early may. this risk off that we feel we had recently accelerating, especially for tech, also for small-cap, with the small-cap index really breaking down a year long range, not looking so pretty right now. china tech, the nasdaq golden dragon index down 4.2%, down more than 40% on the year, more than 50% from its peak. right now, his lowest level since march 2020. one question, is that what is going to happen for u.s. tech? we obviously don't know. we are at the year-end, was uncertainty around the virus. one thing that is super interesting about the tech selloff in the u.s. and china, this is the 10 year yield over the last eight trading days or so. you can see it coming in, down 13 basis points. perhaps a bit of a bid for bonds here, given the fact that the fed is more hawkish, suggesti