our dom chu is in the newsroom to break down this brutal october. dom >> well, the worst october in a decade, melissa. that's what it's shaping up tort for the s&p 500, the dow, the nasdaq as things currently stand. each of those benchmarks have the worst percentage drop since 2008 yup, worst october since the financial crisis meanwhile, the tech heavier nasdaq composite having the worst year, period, since 2008 this ter in terms of percentage declines. materials, consumer discretionary, energy and industrials, while more defensive sectors are relative outperformers. the down side momentum hot spots are still in play with industries like banking, also home construction, and of course semiconductors still on sharp downward trends. this month's losses also mean that both the dow and the s&p 500 are back to around flat for the full year. volatility is also back in a pretty big way the segul volatility or vix is elevated over the levels in the last 50 days the vix was at the highest level since back in february tied with the fears of the fed and rising

facebook reversing the narrat e narrative, up following earnings our bob pisani following the rally, dom chuith a look at valuations and what's been lost this month bertha coombs will give us an update from the nasdaq and julia tracking facebook. phil lebeau with gm shares sharply higher as well but we'll begin with bob pisani. >> it's been a lousy october but it's going out with a roar i want to show you the s&p 500, what's been happening the last few days we bottomed on monday and moved 118, 120 points since then the dow has moved 1,100 points since the bottom on monday the s&p is up 2.5% watch the beat and up groups when you see them bounce, that's when you start to see some stability, and we're getting it. since monday's close look at semi conductors up 6%. industrials up 4%. energy stocks up 4%. builders up 6% those are the beaten up sectors, outperforming good sign. metals and mining not really outperforming, that's the one underperformer faang stocks are up 2%, 3% so far this week. how about the month of november? are we going to get a better start to november? i think we'll see it we

the s&p is down 100 points in a week dom chu is looking at some of the pain points in the sell-off. d dom. >> so far only two specks of green. i want to show you some of the other parts of the market industrywise that could be seeing real pain right now one of them is in technology that's the semi conductor space. the vanec is down huge right now trying to find some kind of bid here we're not seeing that so far also check out what's happening with transportation stocks, also flirting with and now below their long-term trend line as you can see there, off by 2.75 of 1% certainly some bearish comments from a luxury retailer out of europe is helping to take a lot of these retail names down but because we want to be a little bit more balanced about what we see here with regard to the market moves, we want to call your attention right now to a slate of companies that have shown a bid in this particular marketplace and that is the multi-line retailers within the s&p 500. we're talking about kohl's, nordstrom, target, dollar tree, they're up pretty decently on an otherwise very down day. so

dom chu is in the newsroom with that. >> picking up bottom general electric stob has been a fool's errened for sometime. chart watchers are putting different levels on the stock that need to be checked off before a true bottom can even try to be called after getting kicked out of the dow and two crowe depart yurs. and the experts looking at fundamentals from the wall street cell sellside analysts to the credit rating agencies have conditions as well the latest salvo came from s&p downgrading the company to a triple b plus rating from a prior single a rating meaning it's now three notches above the tread he hadded non-investment grade or junk status in looking at the downgrade from s&p, looking at key business units at g.e., specifically commenting that the aviation and the health care units have a substantial competitive advantage. even if they say g.e. were to spin off the health care biz hypothetically, the outlook for the company would be stable in their opinion. it even said the embattled powers system unit is solid despite the near term challenges it faces the bottom line for investor

bob pisani, of course, is here, bertha coombs at the nasdaq and dom chu with a look at the stock thatuffered the biggest drop so far bob, let us start with you in what has been an incredible two-day turnaround. >> i know it's been a lousy month but the dow up 4.5% since the bottom on monday, and it's across the board, including the stuff that's lagging the most. financials had a horrible month, but, look, gaoldman sachs was 22 on monday afternoon. that's about an 8% gain. industrials had a horrible month as well. caterpillar. caterpillar on monday was $112 look here, 121 the do the math. about a 9% gain. home building stocks, awful of the straight down the whole month, and here's home depot home depot was 171 monday. it's 177 today do the math here about a 4% gain. that's even better still in the s&p 500 healthcare generally held up better, slightly more defensive names, but even here we're getting nice rallies on merck. merck was $70 on monday and here at 74 right now. you'll do the math there that's about a 6% move and pfizer has done fairly well. materials also another awful sector

back over to you, guys. >> dom, thanks very much dom chu back at hq for us.t, out with the closing countdown. five minutes left to trade. >> and after the bell, general motors and honda are teaming up to build autonomous cars we'll talk to former auto executive bob lutz and jim press about who else in the auto sector could pair up next. memor. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. >>> welcome back to "closing bell." two and a half minutes left to trade. let's start with the intraday. you can see how it's been a very positive day of trade right up until the final hour got a little bit of a selloff and went negative and just 10 or 15 minutes ago, and now we're back posi

dom chu is here to break it down. >> the worst october in history.h of those three benchmarks have the worst percentage drop since 2008 yep, worst october since the financial crisis meanwhile, the tech heavier nasdaq composite having the worst month period since november of 2008 at least in terms of percentage declines now the market turmoil has been pretty broad based with losses heaviest in the materials, consumer discretionary, energy and industrials and more defensive sectors like utilities and consumer staples are outperformers. the downside moment hot spots are still in play like with banking, home construction and of course semiconductors still on sharp downward trends this month's losses also mean that both the dow and the s&p 500 are back to around flat for the full year. volatility is also back at a pretty big way the vix is elevated at levels well above the average over the last 50 days the vix was also at the highest level since february, tied to fears of the fed and rising interest rates the traders and investors throughout are very in t

dom chu. >> picking up on some of the points you spoke about, fine tuning happening in the marketplace right now, where we are seeing adjustments for possible overshoots being brought back into where they kind of normally would be, if you look at the s&p 500 and the russell 2000, there is a good span where that orange line was doing pretty darn well versus the s&p 500. and now you can see here, there is a fairly big divergence happening now, small caps really underperforming, the overall large cap market so is that going to get wider? one place you are seeing it like you said is in the value trade versus growth trade. if you look at two of the etfs that track this, one tracks the s&p 500, the russell 1,000 growth, versus the russell 1,000 val y value. the orange line has been the value trade. steady eddie, not sexy at all. look at what is happening over here there is a huge move lower in the momentum names you were speaking about so is this the beginning of that movement back into value oriented stocks? that's one thing on traders minds now. we don't know yet, we cannot call it a great

dom chu joins us right now this time he's taking a look at the pain and pressure points in the market do you see this morning? >> what we have this morning is a bit of a bounceback, whether or not it does sustain itself. you've been talking about for the last couple of hours now at this point is it more of just a process or could we actually be seeing a bit of a bottoming put into place right now? if you are going to look for the hot spots, there are a few places in particular that have been hit very hard over the course of the last two days in terms of losses. within energy, we know that oil prices are lower that's driven a lot of these energy names down over the last few -- couple weeks now. in the last two days, marathon's down 13%, newfield down 7% hess down 10%. oil, no surprise there maybe a bit of a relief rally there. maybe tied to oil prices, we don't know we'll see if that bid comes back for oil. the other places to look are in consumer discretionary, technology, and communications services the hot moment tum plays netflix down 10% qualcomm down 8% and amazon down 8% as well

dom chu back at hq looking at tech for us. >> those fangs are in focus given yesterday's bigger tech-led bounce after the nasdaq's underperformance are getting some help and some hurt from facebook, amazon, netflix, google, parent company alphabet hence the nasdaq's drift back to negative territory if you look at facebook, one of the fangs in positive territory trying to hold on to those on the day. amazon, netflix, google parent company alphabet trying to extend losses. facebook and alphabet have broken down below their 50 day average prices some of the funds will includes the first trust dow jones internet funds which is heavily whited xlc has facebook, alphabet and netflix but not amazon and the i shares u.s. tech etf, ticker iwy which has facebook and alphabet but not amazon and netflix so those etfs could be more affected by today's trading action back over to you guys. >> thank you,dom dom chu at headquarters. >>> the unemployment rate hit the lowest level it's seen in almost 50 years. meanwhile, non-farm payrolls came in below estimates at $134,000 joining us for more analysis and

. >>> now back to the market etf spotlight, we're joined by dom chu at hq. , dom. >> good morning. we're floating right around the 50-day average price for the overall s&p. some investors are taking a harder look at whether or not higher dividend paying stocks are as attractive, relatively speaking, given the ability to invest in no risk, long-term government bonds at the highest yields in seven years. dividend sectors like real estate, the traditional focal points of that rate discussion a host of exchange traded funds tied to dividend exposure have gained popularity. vanguard high dividend etf, vyn, 30 billion in assets, current yield of around 3%, higher than the market it's been an underperformer versus the s&p so far this year, up 2%. s&p is up 7% to 8% the ticker nobl, $4 billion fund that has a yield around 2.5%, also better than market. it's up around 3%. also an under performer and spider, sdy. in a rising rate regime, big question for investors will be whether or not they find that mix of dividend yield and possible growth in these types of stocks i

. >>> that's the news update this hour i'll send it over to dom chu for the eia inventory report goodd morning, suh we have those numbers out. crude inventories according to u.s. government data grew by 6.49 million barrels and get a build of 6.49 million barrels. analyst expectations were for a build of 900,000 also gasoline inventories, a drawdown of a little over two million barrels. they were forecast to be a rise of 600,000 in the wake of the numbers, oil prices are holding steady. they were down but currently down by just around the same amount, you can see there the oil prices off by just about 1.5% at this point back over to you. >> dom, thank you very much. we'll watch that closely. >>> shares of netflix are up, although off of the highs of the session. we'll break down what the streaming giants quarter signal for investors. >>> the president goes after the fed again. former federal reserve vice chairman stanley fischer will join us tomorrow 10:00 a.m. eastern time that's something you don't want to miss. dow do 2 ckn st moment. the meeting of the executive finance committee

dom chu is here.an talk to him about these things the market's about to absorb a massive amount of quarterly reports. 149. >> 149. >> some of the biggest planets in the known universe. >> housands. >> dom chu, you bought a lottery ticket >> i did >> bought one. >> i've heard the arguments. >> it's a tax on the poor and everything else but i did. i did buy -- >> a tax on the -- >> seriously it's a tax on the stupid person. >> i am stupid because for me the lottery tickets have been an integral part of my personal financial plan. >> not saying poor people are stupid. >> no, when i say it's regressive $2 for people who don't make a lot money. i buy $2 it's like $2. >> you know you're silly. >> i know i'm silly but i still bought five of them by the time -- i spent 10 bucks >> i didn't. >> i know. on the market side of things, what's important to know about this is like joe said, it's going to be a huge week for that earnings season. 149 companies in the s&p 500 if you take a look at the names that we're

back over to you. >> dom chu, very clear look there.g founder and ceo and let's talk about stock. i'll owe you dinner. you are big, fast, strong, disciplined. >> 6-0 >> and ranked fifth, not fourth. >> yes. >> i'm pulling for you thank you, congrats again. let's get back to the markets. you heard dom's piece. do you think the structural changes of the market are in one thing a reason to find the tech stocks have not done well? >> it's interesting. domestically the u.s. tech stocks are strong. tech stocks in china we're seeing the bifurcation right now i'm not overly concerned about the u.s. tech sector we're only 2% off. global assets are being attracted despite the fact we are seeing surging yields in the ten-year note. >> when i talk about bonds, exactly, that yield, i like to talk to chicago people, no offense to new york people, because you guys are kind of the bond capital the folks i talk to in chicago say, brian, rates are rising less because of our fed and inflation and more probably because the chinese are selling them to eithe

dom chu is taking a look at the change in leadership dom?issa, it turns out about 168 stocks on the s&p have hit at least 52-week highs just since the end of august. now, we take a look at those stocks and said, how many of those stocks have now fallen by at least 10% from those recent highs? turns out only 11 of them are there. these are some of the names, to give you an idea of the types of stocks we're talking about first of all we have some of the retail side of things. as you can see here, we've got nordstrom and also kohl's as well nordstrom off 10% from its recent highs kohl's about 13% look at some of these other themes as well one of the things we want to look at is the idea that other stocks out there like perhaps a darden restaurants is also off about 13% from its recent highs as well. and of course we'll end on one that everybody kind of takes a look at overall, the semiconductor space, the technology overall, that particular stock, amd, now off about 18% from the highs it hit a couple of weeks ago. we're watching many of these t

dom chu has a look at some winning pair trades. >> as we look at technology, we know that it's been onetperformers so far this year during times of market stress like now, could we see the bigger divergence as happening in some of the big pairs trades? take a look at some of these, when you look at the technology sector, it's been an outperformer but within technology and communications services, look at the divergences happening. what you have is nvidia versus a broad com. those particular ones, that's a determiningens, whether or not the market stresses lead to more of that remains to be seen >>> if you look at the software and services side of things, you have intuit and symantec those particular stocks have diverged pretty markedly you can see as well, one other one to highlight, on the communications services side, within the megacap social internet google and facebook. we'll see if carl in times of stress if those big pairs trades end up widening out even more. >> thank you very much >>> dow is down 228, we're back in a moment. whoa. this looks worse than i thought. mike and jen d

leslie picker will have sound from the sohn conference sara eisen will be here with coca-cola earnings dom chualk about pharma scott cohen will talk about the headquarters race. eamon javers will be here to talk about washington. kate rogers will join us to talk to the chipotle ceo and josh lipton will join us to talk about apple. chipotle's ceo will be here. a lot going on today back to you. >> outstanding stuff coke, pfizer numbers hitting live on "squawk box. don't miss that at the top of the hour thanks to becky quick. >>> up next on "worldwide exchange," we're on volatility watch. stocks set for a higher open following yesterday's wild swing for the dow. how you can trade the turnaround we'll discuss that and as we head outlets check in on the top performing sectors tech is still king, just about followed by healthcare and now the boring utility sectors playing catch up in the last couple of months, up 3% year-to-date we're back on "worldwide exchange" in just a couple minutes. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble w

dom chu looking at the markets dow up 280 julia boorstin is here and phil lebeau from dallas, followingla and ford earnings meg terrell. >> carl, twitter shares are soaring 17% on top and bottom line, despite user growth falling short of expectations. the earnings of 21 cents a share are 7 cents better than wall street projections revenue of $758 million for advertising. looking at monthly active users, numbers fell more than expected, declining more than 9 million in the course of the quarter to 326 million. 4 million short of expectations. the company expects another mid single digits million decline in the fourth quarter, daily active users grew 9%. jack dorsey says both daily and monthly user numbers were impacted, but the company's focus on cleaning up spam and fake accounts, saying improving the health of the platform is their top priority, saying it is key for the long term growth of twitter. guys, back over to you. >> julia, thank you. let's get to phil lebeau, he is looking at tesla and ford earnings phil, both those stocks moving higher >> they're moving higher start with tesl

over to dom chu. >> it is title down usa for the past 15 years at least thanks, contessa we are all overs market rally in progress. shares of gm surging on strong earnin earnings plus, can housing stage a comeback if california is any indication the answer may be no and if you have an extra $75,000 lying around you can check into this room for just one night a look at america's most expensive hotel room that and a lot more in the next that and a lot more in the next hour on "power lunch." something is transforming and our world.. it's the longevity economy - americans 50+ driving 7.6 trillion dollars... of economic activity every year. right before our eyes, aging is unleashing exponential growth... ...in every industry. are you ready? we are. a-a-r-p is teaming up with business leaders and innovators... ...sparking new ideas and real solutions. so, what are you waiting for? ♪ ♪ ♪ ♪ comfort. what we deliver by delivering. recently, more than $20 million has been spent in the race for superintendent of public instruction to attack my friend tony thurmond's record. well, i've worked with t

. >>> welcome back investors looking to earnings on the market's direction dom chu is back at hq withat how tariffs and trade policy are impacting third quarter reports so far dom? >> morgan, the forward look is what so many analysts and investors are keying on this earnings season. what will companies say about the impact of tariffs on their future performance on the financials it is a little too early to tell just yet this earnings season. you can see about 70 companies reported so far through the early part of the morning. among the names, 21 have explicitly used the word tariff or tariffs in the earnings conference calls or statements gives you an idea how much it is weighing on some companies we picked out a handful of comments to give you an idea of what the ceos and other executives are saying about the impact and how they will deal with the tariff issue. one is auto zone the ceo william rhodes saying in the short term we expect to be able to manage our way through any changes and continue to expect to ultimately pass these costs along to the entire industry, would be affected

days >> i thought you were going to say even more so when i'm on >> that's like every day >> when dom chulf's over. >> i'm going to hang up the sticks soon. >> but it starts again really soon, which is amazing we'll talk about jobs today. what the heck. we are also going to talk about tech stocks given yesterday. and also the yields. and the ten-year, which already -- i will say one thing, we've been waiting forever, and we express a lot of question marks about why we have not gotten a 3.25 already, but do you notice how nervous people get when we do it? you know, gundlach is weighing in someone was on yesterday talking about it this is something we've been waiting for, i thought this would have happened two, three years ago, but once it happens, i guess there is a bit of a day of reckoning, but we're working that out i read commentary about yesterday. not just cnbc.com but all of them, stocks tumbled on rate fears. and they tumbled in japan. i think japan was 0.4% or something. here it was a couple hundred points it was the worst day in a while. we have to recalibrate our -- maybe we don

to dom chu's point, this has not been entirely reliable in a recent pass of a dow theory sell signalthe dow industrials made a new all time high, what they call a non-confirmation error. it's begun to roll of. the number of new highs continuously exceeds the number of new lows on the new york stock exchange so those are some warning signs as the russell has been shown earlier in correction territory. you see the a loss of leadership and that technical deterioration. >> that happens typically before you see fundamental am deterioration. the market usually gives you a pretty good heads up we could see some change in the composition of the economy down the road. >> what is your investment strategy given the volatility? >> well, i can tell you that today we stand neutral equities, risk assets in light of both the positive fundamental amounts and a lot of these headlines and risks we are grappling with. we continue heavily towards the u.s., it's really for two reasons, one we think the u.s. objects more opportunity and i think can you see that simply in looking at the economic data and tw

dom chu's in the newsroom breaking it all down. >> just about everyone who cares about market will carethis week. we've got around 150 s&p 500 companies reporting their results making it the busy yest week of the season. ten of those stocks are components of the dow jones industrial average and buckle up for thursday, because that will be the single busiest day of reports with around 66 companies in the s&p 500 posting their results either before the open or after the closing bell. while the initial string of earnings reports over the past weekend or so have been focused on the big banks, this week will provide a wider spectrum of industry and sectors. caterpillar reports on tuesday. ford motor reports on wednesday. communications and retail? amazon, alphabet, twitter, all on the docket thursday. this is also the week where some of the big health care names will report on wednesday and you got bristol-myers and merk reporting on thursday. according to data from the investment group, the average one day stock move for companies reporting results has been down by around .7%. that marks th

. >> over to dom chu >>> the fed chairman is making comments at the national association of business, massachusetts. in the context of his remarks he will be saying that the economy looks very good in his opinion forecasters have remarkably a positive outlook on the economy right now. rate moves reflect efforts by the fed to extend the current expansion of the economy the strong economy, low unemployment should continue as well in his opinion. also drifting inflation expectations are a possible danger whether they be to the upside or down side as well. they are taking a risk management approach to managing the economy. the fed is aiming for maximum employment and stable inflation. also that high wage growth alone need not be inflationary inflation stability thanks to anchored long-term expectations are their particular view and no evidence of inflation expectations shifting. also one quote to put in context all of this, fed chair saying when monetary policy tends to offset shocks to inflation rather than amplifying and extending them and when people come to expect this kind of policy

dom chu in the newsroom breaking down the earnings and winners and losers dom. >> melissa this season so far has been about the haves and have knots, tale of two cities best of times worst of times today's trading action continued the trend. the the companies reported so far this season, finding that around 3/4s of them so far posted a stock dropping meaning at least for now it appears there is a sell the news type feel to the market some of the negativity kerg through more than just today if you look at netflix shares down 3 e4% since the earnings report after the initial pop shares of bank of america have slid around 5% since the earnings report. and then there is big blue, ibm still struggling to convince investor that is the growth initiatives will set up for longer term growth though the shares were down around 10% since the report. for the accent the positive folks there are gainers on the heels of earnings as well. for example mcdonald's today closing up around 6% yes the et cetera it's only one day we see if the gains hold or paypal up 13% since its report it's also posted thr

dom chu joins us with the earnings outlook driving stocks today. ebeau on boeing and bob pisani looking at what could possibly calm the markets. let's begin with dom and get a check on the week's earnings so far. >> earnings season continues to be that positive theme that's developing that hasn't exactly translated into constructive market moves today's price action reinforces that feel a bit. it's something that jeffreys equity strategist steve desantis said 63% of large cap companies have beaten earnings estimates, 65% have beaten sales estimates, but only 48% have managed to beat both top and bottom lines now, the thesis he's talking about here about what's shaking the market is concern over whether last quarter, the second quarter, may have represented peak earnings growth still a little early to tell there. but data still has s&p 500 earnings growth at 22% for the quarter if all other reports come in as expected. we're also going to see top line revenue growth of 7.3% a couple of key hot spots to watch that have been in medium to longer term do

for more on the fang trade unraveling let's extend it to dom chu in the newsroom. >> leadership to the upside so far this year is looking similar to the downside leaders as of late some of the leaders are now the big laggards the fang stocks are among the hardest hit given the new sector realignments within the s&p last month. meaning a mix of communications services and consumer discretionary stocks as opposed to the tech and discretionary ones we have known to expect none of these names by the way have hit a new high in the last month. we are take them in acronym order. facebook shares are down around 2.5% today down around 27% since the high back on july 25th. amazon shares down by around a similar amount today and they're off a little less dramatic, 7% since the record highs back on september 4th. netflix, down by over 3% today down by 14% since its highs back on june 21st and then there is google parent company alphabet, which lost nearly 3% today down around 9% since its high back on july 27th now, of the fang stocks, the only one that has been a negative force so far year to dat

check out the dow on this. >> that's since we went to dom chu. we'll see you later, dom go away.u. >> i think it was 280. >> nice job. thanks, dom. >> the company says it's maintaining the outlook range of $11 to $12 maybe at $11.65 the street got a little ahead of it, but there's nothing i see in this initial read on this report that would explain why you're seeing such a selloff. >> cramer's going to get his 25 on the vix, i would say. >> yes, he is. >> on the open let's talk currency and energy markets now too. joining us now dan mcteague at gas buddy.com. and shawn osborn at scotia bank. we may have seen a little bit f of, you know, a rush to safety with some of the yield curve but the dollar -- i saw a 1.14 print on the euro. what's happening with currency today? >> i think on a day like today where you've got a lot of red on equity screens globally, the knee jerk for currency trade is to go to the typical safe havens not so much the dollar these days as the japanese yen the traditional sort of safe haven in market volatility outperform on the day and the commodity currencie

dom chu, thank you so much. >>> now the latest in the russia investigation, "washington post" reportingon friday robert mueller's team questioned trump's former chief strategist steve bannon, marking bannon's third sitdown with the special counsel's team. he was reportedly asked about comments that long-time trump associate roger stone is said to have made privately about wikileaks in 2016. prior to their release of hacked democratic e-mails. joining me with more is nbc news intelligence and national security reporter ken dilanian. >> this is about roger stone, stephanie, in this case. as you said, bannon has said he was asked about comments stone made in private in which he appeared to have advanced knowledge of moves wikileaks was making to leak democratic e-mails. the special counsel over the last few weeks has been zeroing in on stone and associates. examining evidence that stone act acted as a conduit with the trump campaign. it's opened the door with a question of conspiracy to interfere in the election. it seems to be about roger stone. >> i must ask you about this. a new report

but there are bright spots in the market dom chu separates the good from the bad back in the newsrooms. that's how many in the s&p 500 finished the day in positive territory during that carnage that was wednesday trading by now the super la actives by how much all of those have made their way around the circuit but as is often the case with broad based down days like we saw today we often try to find sft stories and silver linings as i said before there aren't many that are green stories but there are a handful that are outperformers. as far down as tiffany retailer fell downous utah off the european luxury house and the lvmh, not all of retail fell by as much as tiffany if you chekt out shares of dollar tree, kolls, dollar general, the u.s. retail chains were up on the day then there are some of the consumer staple stocks like campbells soup and the heels of activist investor dan lobe and jm smucker a or general smils mills each of those stocks in the green today caveat is that many of the staple stocks have been in medium to longtime down trending into recent trait trade attention a

earlier i think dom chu reported on a reuters report involving an approach made to gaming company caeser's i did want to follow up. we have more information on that developing story that offer was made about a week ago, $13 a share cash and stock offer but follow me here for a moment, it was from private company run by and owned by tillman fertitta stock in the private company for the same multiple they are currently -- that caeser's currently trades for it would be followed by what i am told by people familiar with the situation would be a $2 billion to $3 billion dutch tender for caeser's shareholders who perhaps wanted to elect to actually exit their position now, again, this proposal was made roughly a week ago. it has not been responded to there may have been conversations between mr. fertitta and the advisers for caesars but no -- no agreement at this point it is seen as potentially an opening bid. what's interesting here, scott, it does seem to be the beginning of what you might call a bear hug, it now being made public. it's been no secret there's been frustration on the part of sh

joining me now, my dear friend dom chu. cnbc's markets reporter.greely from "the financial times." dominique, to you first, is this sell-off the first sign the markets are turning or just a correction, and let's be clear, we're in need of a correction. >> here's what we got. we have two massive days worth of losses and we know markets don't go up or down in straight lines. but still these were the biggest losses that we've seen in a two-day stretch going all the way back to the early part of this year, when inflation worries and an overheating economy worries were already playing out in the markets. this time around, we had some similarities. they weren't exactly alike. however, because of the damage that was done, there is a sense that today could be a bit of a relief rally. things had gone way too far too fast to the downside. there are folkings wis out thera shopping list. today might be an opportunity. i wish i had a crystal ball to tell you this was the perfect time to buy stocks. however there are traders out there who believe that because th

. >> dom chu from cnbc and josh brown back with me.gresswoman what do you make of the president's remarks about jerome powell? i mean, not only is that his fed chair, but even if it wasn't, it makes absolutely no sense. the economy's doing so well. >> i think the president is venting about the fact obviously the fed has acted in ways he would have anticipated and probably did because he chose jerome powell. >> even more than that -- >> and the economy's growing. >> so what you've said just doesn't make sense. i want to slow it down. the economy is growing and he named jerome powell. yet what he did yesterday was attack jerome powell and say the feds shouldn't raise rates. >> i just think the president tends to speak vividly. i think he's just expressing some, you know, frustration that, gee wiz -- >> but why the frustration? >> i love the fact the markets are going up. the interest rates rising, which we all understand, and the president does too -- >> really? >> let's just slow it down? when obama was in office, he said let's raise ra

time now for the sector-nomics dom chu joins us he's got some of the favorites from the analyst communityod morning, andrew. and yes, because the communication services sector is the newest of the s&p 500 sectors, taking an aggregate of not only the old telecom services sector and some technology stocks, it is now a very big al mamalgamation of the tech community the analysts feel these stocks in that current index and that sector have the best upside. and some of these have come off of some pretty bad downturns of late check these out. dish network current target price implied a 34% upside facebook news corp. 26% upside. comcast 26% potential upside electronic arts 24% as well. i want to turn your attention to the notables as well check out some of these names. alphabet is part of that list. they currently have about 19% upside twitter, 17% netflix around 8%. disney at 5% and trip adviser one of two or three companies in this sector that have negative target prices because they've gone up and met them already right now the current target price implies a 3% downside. as we look at this ne

our dom chu is there with a special guest. beautiful looking course manhattan woods.ford hills, joe. and the reason why it's such a beautiful course is -- yes, it'sed a bedford hills it's a gary player signature golf course. so we are here at the gary player invitational. with us is gary player himself to talk about the game of golf and the charitable work he does. thank you for joining us today >> it's a great pleasure always nice to see you and thank you very much. your network always covers this event. it is changing the lives of thousands of people around the world. which is a great thrill. it's better than winning major championships. thank you for your support >> well, you know, gary, joe and i are big golfers. we have a keen interest in this game we want to get your reaction to what happened this past weekend at the ryder cup outside of paris, france. the u.s. had a dream team on paper, yet they could not win on foreign soil haven't done so for the better part of two to three decades at this point what is going on with this ryder cup team >> first of all, i thi

. >>> earnings taking center stage despite a lingering trade war with china dom chu joins us now withts morning, dom >> good morning, mike. as we talk about the long-term trends that we've been seeing in the morkt place, one of the things we've been seeing is the long-term trend for the overall market we want to put it in perspective again where we are we've been bouncing along. we are now below the level we've been watching there. one of the other things to look at is how many are above or below their respective long-term trend lines. one indicator to the health or momentum of the overall market now, with the 200-day moving average, each stock has its own. the number of stocks with the s&p 500 that are above the trend line for the trend day is 169 right now. that means stocks are below their trend lines. it's something we'll keep an eye on on an intraday basis, it's still young. but some of the moves we've seen represent some of the biggest kind of momentum moves in the market place you look at moves we've seen, amazon shares did fall yesterday by around 11% before recovering a bit t

dom chu will tell us what's coming up on "power lunch. >>> yanna barton of eaton vance will tell hertrategic and rising rates and input costs, what's ahead for the housing industry we'll talk to the chairman of lennar nchtsd and mark usco of morgan creek said there's one thing from the bear markets that could push us into market territory. the halftime report is back after this what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ this is a tomato you can track from farm, to pot, to jar, to table. and serve with confidence that it's safe. this is a diamond you can follow from mine to finger, and trust it

dom chu, and our guest host tom farley and our senior economics reporter steve liesman we're going toare you watching? >> you guys have talked about the fact that we've seen pullbacks of this kind of nature in the past. just so far, just this year, we've seen a number of them, not to the degree we have. of course, we saw them in early part of february and march when we saw that big decline in the s&p 500. but for the most part, you can see with the trend line, we found bounce areas and we're waiting to see whether this area, this deep mover along the low-trend line really is an area that people can find a bounceable area. let's check outwhat else is moving in the markets because we have seen some of the internals. some of the, i guess, symptoms, if you will, perhaps, the environment that we're kind of in, that manifests itself in a broader base with the s&p 500. if you take a look at the s&p 500 stocks right now, 164 of them are above that long-term trend line. that 200-day moving average, something we've been talking about. meanwhile, the vast majority of them, 341 are low the long-t

while the s&p 500 marches towards the 3,000 point level, dom chu is here to break it down, some of theinning trades of 2018. they all look like they're winners, but not really. >> they're all winners if you do it from an index perspective if you invested in things like the qs, a spdr etf, all of those trades have been winners the qqq trust, the one that tracks the nasdaq 100, up 19% if you just bought it and held it the spdr etf up about 8% it talks about these divergences we highlight in the marketplace. we have a long/short transaction to show you the discrepancy we're seeing at the sector level and industry level just among stocks that are similar in nature if you look at a big one out there in the financials, jpmorgan chase, the bigger bank performer out there. another monster investment type bank, citi group, has not fared nearly as well if you would have bought jp morgan and sold citi group that would have been a great trade. another thing to look at is energy rising oil prices have been lifting the tide for many of those stocks if you were an exploration company benefiting from

dom chu back at headquarters >>> coming up, insurer travelers.ne michael. kalee dionne is standing by. >> we just had an update still a category 4 145 mile-per-hour winds. when we come back, we are going to show you the latest track and also what you need to be aware of as this storm mes ldfakanall in just a few hours. we'll be right back. when you retire will you or will you just be you, without the constraints of a full time job? you can grow your retirement savings with pacific life and create the future that's most meaningful to you. which means you can retire, without retiring from life. having the flexibility to retire on your terms. that's the power of pacific. ask your financial professional about pacific life today. the sun goes down. you run those miles, squeeze the toothpaste from the bottom and floss to set a good example. you fine tune the proposal, change the water jug so no one else has to, get home for dinner and feed the cat. you did a million things for your family today but speaking to pnc to help handle all your investments wa

45 minutes left to trade, and we're neither session lows as sara mentioned let's send it over to dom chu on the market flap. >> as we talk about what's happening with the market downside, the transportation stocks are notable downside relative underperformers to the rest of the overall market the dow jones transportation index now off by just around 3.5% as we head into this closing bell in the next 45 minutes or so, far outpacing the declines in the broader market for the dow or s&p 500 if you take a look within the transportation stocks, there are the notable parts that are really dragging things down. first of all you've got what's happening with the railroad stocks. a number of those railroad stocks moving to the downside and among worst performers in the index, csx on the railroad side is having its worst day so far. that's one name to watch and take a listen to what's happening with the airline stocks because even with lower oil prices to some degree are not finding any kind of a bit. they are caught up in it the transportation downdraft railroad and airlines two of the key parts h

we'll start with dom chu and yesterday's selloff. to reverse course. >> they made it a long way back. it was down 548 points at the lows as the day progressed yesterday, i remember sitting there either on the markets desk, on our news desk with "power lunch," everybody watching this move higher a lot of the concern was whether or not it would move off the lows they were very much not higher but off the lows the curious part about it was a lot of the volume we saw during the day was very front stacked during that selloff portion. and so traders look at things like volume weighted price it indicated that most of the selling pressure happened in the beginning. but if you are looking for places where people either found that deep value trade trying to buy off the lows or tried to cover some winning bets on the short side of things, it is places that have seen the most weakness so far. we looked at the s&p 500, looked at all the stocks that made the biggest moves from their intraday lows to the highs on a percentage basis. 27 stocks in th

back over to you. >> dom chu, thank you.bly the predictions about the future, we know how hard they are we may see you in the next couple of hours? >> there might be a chance. >> the chances are good. >> chances might be pretty good. >> excellent >>> we'll talk about the broader markets. joining us is paul schatz, president of heritage capital and jason trennerf talk to us if you've looked at the tent tackle. >> we absolutely look at them. we spend a lot of time on it i think there's probably -- this probably isn't over in my opinion, the market indigestion. i think part of what's being discounted is the potential for this making a policy error having said that -- >> you think the policy error is increase >> if they go too quickly. having said that, the chance of the u.s. going into recession in the next year or two are exceedingly low. the economy is in excellent shape. the fed is far from tight. we essentially have a new fed chairman and we have to figure out how that works we're using something in around 15.70 range as --

. >>> let's get to dom chu head quarters for a quick sector check now. ht now a big performer here to the upside in this otherwise down market a fifth straight day on track for its longest losing streak in five years for the s&p check out some of the stocks on the move with regard to that utilities trade as you see it play out remember, this is a big deal for a lot of traders as they look towards today's very interest rate appropriate treasury note auction this afternoon, so certainly something to watch, guys back over to you. >> all right, dom, thank you very much. dow down 318 now session lows what's coming up on "power" later today. >> "closing bell" and "power" all over the sell-off. technology hit particularly hard we'll talk to dan niles about what you do you do if you're holding some of ese thhot tech stocks that are cratering in the last sessions. "squawk alley" coming up next. ♪ ♪ put your data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business. >>> good morning, it's 11:00 a.m. here on wall street and "squaw

. >> it was a weak quarter all the way around dom, chu. >>> coming up later we'll see you on the "closing the final trading day of a painful month for equity bulls. looks like we're set to end on a high note. anything with happen in that final hour we've got scott minerd and mohammed el-erian who will be with us. i think they're on totally opposing views we've also got earnings. see you then. >> minerd has been resolution in his view about where rates are headed we'll see you then "squawk alley" is coming up next with the dow up 306. obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ so they say that some day ai will transform the human race. well, today you're a little busy transforming your call center. dealing with millions of customers a year, like this one. no, i'm pretty sure i didn't order a squirrel playing a guitar. that's why you work with watson. it works with your systems to resolve calls faster and impro

watch those shares now back downtown to you >> thanks very much for that, dom chu at hq. >>> may be banksy's full details >> greatest piece of performance art in auction history, art money and technology came together friday night, sold a painting girl with balloon by the street artist banksy after the final bid of 860,000 pounds, the canvas slid through the frame and shreds appears we got banksy. then he posted a photo of people watching itself destruct, raising speculation that the artist whose identity is unknown may have been at the auction and triggered it with a remote he posted a video showing how he built that shredder into the frame in case it was sold at auction. he painted it in 2006. sotheby's has no knowledge of the plan or shredder in discussions with the buyer over next steps the buyer won't want to return it may be worth twice as much since it is one of the most talked about moments in recent art history. back to you. >> sotheby's really didn't know about this >> i don't know. the point is the frame was technically part of the picture, part of the artist work, they couldn't t

this recent sell-off as oil falls 6% in the past month the xle energy etf is down 10% in that time dom chusome of the individual names getting hit. dom? second worst performing sector in the s&p so far on a month to date basis crude oil agreat driver. you can see the long-term trend line, the 200-day moving average. we tested p a little bit a couple months ago p we have now breached that level trying to find some support there. if you take a look at the energy sector versus the s&p 500, also that gap very evident as well. over the course of just the month to date period down by 10%, 11% 7% for the s&p that gap is smk we're going to watch there as well. as for the individual names check these out because they do span a pretty wide range of the oil and gas industry halliburton on the oil services side, valero energy on the refining side of things and new field exploration for exploration and production all down more for the market and more as a sector as well, contessa all this stuff and the underperformance is going to be something to watch with oil prices in play sanctions for iran kicking

and seema mody is abroad and on set to break it all down we will begin with those industrials and dom chum? >> three of the worst performers on s&p earnings season not going the way the bulls had planned. it's early in the season generally speaking, it has been positive that's curious, right? according to data, more than three-quarters of reports have beaten analyst estimates as for the revenue side, it's still positive but to a lesser degree therein lies the rub, 63% has topped expectations. rbc strategist points out, that pace of beats has moderated, especially true on the revenue side, in the case of sales beats is sharper than earnings per share side also, this notion that traders are using these earnings reports to sell the news this investment group notes of the stocks reported so far this season around three-quarters have traded lower on a ne-day basis in reaction to that earnings release those average one-day declines also now on pace for their worst since 2011, something that was noted early this morning if these trends continue, markets could be due for even more volatility in t

dom chu looking at the markets dow up 280 julia boorstin is here and phil lebea

. >> dom chu the market swings we have seen may not be over. what jim cramer said last night on media "mad money." he said stop kidding yourself if you think the bad news is baked in he says there is no cause for the fed to tighten four times. this is what all this turmoil is about in the market. let's bring in the senior portfolio manager at nuveen and the preponderate and ceo of thorn berg investment. bob start with you is this all about the fed? i thought the markets were prepared for four more hikes >> the fed is certainly part of it i think the language in the last press meeting that we're going to go past neutral, we have a long way to go that shook up some people. but look we are normalizing the entire picture, not just interest rates volatility is normalizing. pes are normalizing because we are no longer in the era of financial repressing where we have to fight potential depression that's over and gone thank the good lord. now we are trying to plot a way forward for the cycle. and the economy and the earnings are doing well but we have