mike santoli looking at the big picture. mike >> yeah, sara, dial it back about six excesses this is the sixth session of this trade-related freakout the market's been in i wanted to highlight one as peblth of it, which you guys have talked about, which is the intraday rally attempts that we've had just about every day you see back even last monday these are the end of days. you've tended to have a low early in the day it didn't look like we were going to stick to that today maybe it's only a weak version of it. but you see today we hit this low just a little while ago. interpretation here is most of the down side damage has happened in the overnight session. the stock futures get sold very hard into the u.s. open. and you've had this gap effect and then on a net basis over the course of a day you do get a bit of a dip coming into the market. does that meanit's mostly global investors and retail on the sell side? unclear if that's the case and who knows? maybe the buyers are going to get fatigued p you have to get up the nex

i'm sara eisen >> i'm scott wapner in today for wilfred frost along with mike santoli.ok at how we closed things up. dow closed down by about 225 points 25,123 big deal for the s&p closing above its moving average. just at the end of the day made the run into the close technicians will take that as a decent sign about how this day ended even though there was some damage done. the nasdaq down 0.75%. the russell 2000 has been in correction territory it's down about 1% it was the weakest of the averages we're showing you right now. >> in just a few minutes, scott minerd joins us to analyze the market downturn. plus results from pbh and palo alto on deck we'll bring you the numbers as soon as we get them. joining us is josh brown still with us is courtney -- josh brown is still with us and also courtney gibson from loop capital. so, mike, you know, we did see all the sectors end lower. we do not see stocks end lower at the lows. we were down more than 400 points on the dow at one point what turned it around? >> the low in the ten-year treasury yield was just before noon als

let's send it over to mike santoli with more.od news >> it's very good news continued good news. unemployment claims, weekly unemployment claims came in below expectations today, which is a positive sign for the overall health of the job market here's an extremely long-term view at this data series unemployment claims, four-week moving average, much at the lows and of course, we had far fewer people in the country back then. so essentially rock bottom levels a few months ago we looked at this chart and took note of this little upturn. when claims start to rise from extremely low levels and that becomes a trend that's typically a leading indicator of a recession. you would have seen it right here these shaded areas are recessions and you want to make sure it's not one of the trend moves and that's the good news you had a bit of a false potential signal that inflation was coming on the horizon and i think we forestalled it. it happens relatively quickly sometimes and it's not like you get so much notice and you're doing your checkl

mike santoli with the market dashboard. bertha coombs at the nasdaq.y on the floor of the nyse >> first let's trade the close with peter what's your take you were bearish last time any less so today? >> no, no less so today. i'm a bit surprised at the resilience of the market i believe the news on the trade war continues to evolve as we'd expect it to now that company specific actions are being taken by the trump administration. i would imagine that a similar tit-for-tat response will evolve from the chinese that hasn't really seemed to affect the market today. a bunch of pmi data coming out from japan and australia a lot more later this week that's been rolling over the global growth story is weak. earnings lackluster, flat at best and the tariff situation trade war between the u.s. and china continues to devolve yet markets seem to be fairly complacent relative to all those risks. >> peter, thanks for that. good to see you. >>> let's send it over to mike santoli for his next market dashboard stocks >> often on a day when the overall market is down be

michael santoli and dom chu weigh in on that next. all in one place.ause when it's decision time... you need decision tech. only from fidelity. >>> welcome back uber opened at $42 a share below its ipo and back up around 44 and what does this debut and joining me are michael santoli and dominic chu. all right, mike, i need the hot take from santoli on this open today and ride hailing to some degrees. >> reporter: i wouldn't say sentiment towards the nasdaq or necessarily ipos if you look at pinterest, totally different kind of business model and similarly anticipated name it's traded very well. i think you need more than one deal to open soft before you basically say, you know, silicon valley was yesterday's news. and prominent example of the ride sharing business model. >> so here, i would say what mike said and go one more step beyond that and i would say that the conversations i've had throughout other folks in the business today is that it's not so much an indicator about sentiment in the marketplace and mike said specific to uber, but i would say

up next mike santoli, mark from his market dashboard with a look this time at corporate debt.rt... your joints... or your digestion... so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. >>> business debt growth has moderated somewhat since early 2018 but this might be just a pause another sharp increase in debt unless supported by strong fundamentals could increase vulnerabilities appreciably. businesses, investors, and lenders need to focus on these vulnerabilities, as will the federal reserve. >> that was fed chief jay powell at last night's financial markets conference let's sent it over to mike santoli for a closer look at the trends in corporate debt he's just the latest to sound this alarm >> yes it's a gesture of prudence by the fed chair of course. this is one of the big picture potential rixz out thehy risks e look at the total corporate debt outstanding. the chairman d

let's get back to mike santoli for more from the market dashboard.think we've got mike's mike there but we'll get back to him if and when we do in terms of the broader markets all the sectors in the red at the moment on the s&p. absolute levels aren't quite at the lows of the day but it has broadened out with the nasdaq down 1.5%. tech the worst performing sector utilities are now in the red as well all in the red, phil going back to that point you want to get into the safe haven names, broadly, though, for the market do you want to stay back until you see a bit more of a pullback >> what i was saying earlier about the trade deal now being priced out of the market, that's worth about 3% to 5% in my opinion. the market's down about 3% month to date. but here's the deal. i think both sides of this china and u.s. kind of policy maker front have puts underneath the market i think the trump put is certainly there, that if this thing does slip into economics and you start to -- he's not going to let it go that far because that affects the re-election campa

mike santoli starts us off tonight from the new york stock exchange. >> the stock market has held ono most of its gains for the year during a turbulent month of may, but over the past year, nds have been better to investors thanks in part to the trade war tha is unsettled equities. the drop in the ten-year treasury yield today to a 19-month low under 2.3% highlighted the powerful gain in bond prices which moved in the opposite direction from their yields. this bid for safe assets reflects worries over the global growth outlook which has grown more urgent on trade rules and tariffs. persistently low inflation has also encouraged the move into bonds and t return of government bonds in germany and japan deeply negative yield has likewise dragged treasury and u.s. corporate debt yields lower. as a result the total return for the barclays, aggregate bond index has been about 6% over the past 12 month, a fraction better than theurn of the s&p 500 index over that time including dividends. the bonds have delivered that return with farolessility in stocks which suffered a quick 20% loss in th

mike santoli has more. >> reporter: the marketwes its resilience towards a rush towards safer stocks and bonds as investors migrate away towards risk. the s&p 500 has managed to hold within about 3% of the recent record high thanks in part to treasury yields falling to 2019 dws. which has much t with the lows and the interest rates being cut to support a vulnerable economy. shares of stocks that act like bonds have been clear leaders. utilities have vastly outperformed industrial and small cap stocks. groups more reliant on a better economy. thisas led some economists to argue that they're sending a less up beat message than would otherwise be a market up some 14% less than five months into the year. investor sentiment similarly ses more subdued than usual after such a strong market recovery. aisurveys of r and professional investors show a sharp drop in optimism and cash has continued to o flow of stock funds at a pretty heavy pace, a sign of further investor caution. low bond yields cndtious investors already braced for bad news could continue to help support stock as a market of a

eastern time let send it to make santoli for a look at the food industry performance so far >> why looke food industry couple reasons obviously luckin's ipo has something to say about the general space. food and restaurants we also have this ipo -- i mean this etf which has a very cute ticker symbol pb and j which has outperformed the market it's right in line with the market but on a year to date and one-year basis it has handily outperformed starbucks is the biggest holding in here. starbucks of course has been a big outperformer up today even despite luckin getting a lot of enthusiasm. you also have names in here like smucker, j.m. smucker, which is pretty much at an all-time high. so very quietly i think this is part of the net defensive orientation of the market and of this ability of the market to kind of stay supported near these levels thns a very heavily traded group because it seems very sleepy and there's not much happening on a day-to-day basis but it does reflect i think the appetites of investors right now in terms of wanting steady defense, cash flow dividends at least fo

i'm sara eisen wilfred frost rejoining me along with mark santoli.ok at how we finished up the day on wall street. those gains slipping away in the final minutes of trade the dow closing higher by just 5 points we were up more than 120 points in the final hour of trade s&p went completely negative and we saw a number of groups closing down, including utilities, financials, communication services, consumer staples, technology, materials and energy all closing in the red. the nasdaq losing 0.25%. and the russell 2000 index of small caps down about 0.5% if you are keeping score for the week, markets down, s&p about 2.25% going into thursday. and those all-important trade talks with china here in washington weer earnings watch this afternoon. investors awaiting results from disney rorks cu disney, roku, etssy and more we'll bring you the numbers as soon as we get them. rob cox is here. global editor at reuters breaking views welcome back, rob. first, though, mike, what just happened in the final moments? we got that intel slide on some of the comments ma

mike santoli has more on the market's recent decline and what might come next. >> the stock market'saye malaan so far be viewed as a normal pull back after a very ourongmonth rally. a routine reset in an ongoing bull market and the ongoing fragility of the cycle carried the rif that the downturn might deepen into a more serious correcon. >> the s&p 500 index was down 5% from a record high at its worst this mon and it was coming as the trade frictions grew more intense. it has more and this data weakness is pretty typical. even after this drop the market remains up more than 12% and that's ath mor respectable gain after a 6% decline in 2018 and yet the tariff hikes and disruptions are at a delicate point as the tax cut had a 3% growth rate last year and the european indicators have remained sluggiss and t complicated the consensus projection of a rebound in high single-digit percentage growth in the second half of 2019. the second half of this year begins in just over a mon after all. the treasury bond market reflects this tension and the ten-year yield sinking to an 18-month low this

good to see you both. >> thank you. >> sarah,ou as heard mike santoli talking about that. do you see the market becoming more defensi t? t where you would be putting money to work right now, do you think? >> as you look at multiples on consumer staples and the stocks th have recovered quite nicely it wasn't just about the december quarter and the defense stocks were having a hardrime all yast year. so i think that you're starting to see people position themselves more defensively and people are looking at places where there's more u.s. exposure. >> mark, one of the places that they are getting defensive is by moving into the bond market. how much more of thisove do you see, and if you're a longer term investor, would you go out as far, or would you be shorter on the yield curve. so i've been saying for quite a while that yields were going down. the 800-pound gorilla in the room is the fed and the word is an about a face a 180-degree term after the meeting and the fed's next move will be because of the chinese, but i call it the game of thrones between the two countries. th

let's bring back mike santoli. dashboard of the day saving the best for last this one's for you, sara taking a look at some currency interactions in particular in emerging markets stock this is a one-year chart of the u.s. dollar index along with the eem emerging markets etf obviously emerging market stocks a lot more volatile than the dollar index but what's interesting is the way they usually relate to one another. for example, when the dollar's up, typically it's going to coincide with emerging markets going down it's not a perfect relationship but a general tendency here. the dollar peaked for a little while. it allowed emerging markets to rise a little bit. and here again as the dollar's making new highs you did see that sell off along with all global markets what's notable is in the last two days the emerging markets etf has been up even as the dollar has stayed clipped to new relative highs too you see this little rise here as the dollar goes up why is that? sara's going to have to actually answer the questi

mike santoli with his market dashboard.oombs at the nasdaq with the movers seema mody at the nyse first let's trade the close. tom white from td ameritrade, what's driving the sell-off, now down 200 points with minutes to go >> it's got to be the bond market here, sara. if you take a look at, it it's kind of been pinpointing this divergence that we've seen yields falling, stock market still at elevated levels we've got the s&p 500 down just over 4% this month you would expect it to be more dow industrials still only down about 4% since that five-week sell-off started you've got to look to the bond market it's telling the equity market something. and the investors are trying to figure that out. and i think that's why you're seeing the weakness and they're selling any rally that we see. >> tom, just quickly, lots of commentary around apple because of china trade fears how are you trading that >> if you take a look at apple, the implied volatility's relatively low in about the 40th percentile into the end of the week and the s

michael santoli now for "trading nation." mi mike >> cancelkelly, more on the trar fallout. abcs are tanking, knocked down double digits from recent highs. so does this mean they have more misery to come or maybe buying opportunity? miller, michael of graded investments are your "trading nation" team abc in the cross hairs of the china trade friction any of those look like they can work from here >> well, they all are going to be challenged right now because of this issue. i thought to myself, of the three, which would bounce back the best if we suddenly heard that donald trump announce he was going to hit this ceremonial opening tee shot along with president xi at the pga this week and of course, the market would bounce back and the one that i looked at was apple i mean, it's funny because it's seeing a golden cross. that's when a rising 50 day average, and i'm usually not a big fan of that indicator but a compelling one for apple the last three times, we've seen a golden cross, it's rallied over 500%, 110% and 125% each of the last three times and we just saw one late last

mike santoli bertha coombs at the nasdaq.on the floor of the stock exchange but let's start with shawn cruz to trade the close shawn, let's talk about the energy sector. big, big declines in oil prices today. this week has hit a buying opportunity. >> i don't know if it's a buying opportunity just yet what i'm really focused in on here is the oil services companies. and if you look at some of the companies like schlumberger or halliburton, they get a lot of their growth right now from revenue. it's coming from latin america if you look at halliburton, that's about 28% growth they're getting out of that segment. if you look at schlumberger, that's about 14% and those two names are down pretty significantly today and i think the issue is a lot of the machinery that we get from mexico, there's about 63 billion of machinery that we import if you get we'll just say a 25% tariff that goes all the way, you're going to increase costs about 15 billion a $15 billion tax. let's take a look at what happened with staples last year when th

mike santoli has the tilt index dashboard.lus coming up aditi roy's going to look at the bitcoin boom and deirdre bosa will look at how recent volatility is impacting the ipo market but first, bob, to you for an update on the market >> we have regained. sara's right half the losses. but there's been tremendous damage done. we've emphasized the retailers and industrials. many retailers' 52-week lows, down'sing tads l brands bouncing a little bit today. but it's been down about 11%, 12% for this month alone on exposure to china. other retailers also sitting near 52-week lows. caterpillar 60% of its revenues outside of the united states off about 2% today but it was down 10% for the month going into today not much of a bounce considering the issues for them. deere up 1% despite a downgrade from jpmorgan. i want to highlight that zero downgrade from jpmorgan. it relates to china. they kuld it a perfect storm for u.s. farmers what's been going on with china over there the global markets are oversupplied with corn and bean and wheat

mike santoli tracking the current conditions mike with his sell-off checklist. >> here's what shouldashboard as we look at this first little significant gut check of the year. all these different factors that should drive whether you make an assessment or whether the pullback is running its course or not valuation i would say back to neutral. it wasn't that expensive before, wasn't that far from neutral, but if you look at the forward p/e, the s&p 500's about 16.6, right exactly where the five-year average is that seems to not be the swing factor just yet. technicals, are we oversold yet? on a short-term basis, yes, we're basically as oversold by some measures as we were in late march at that last little pullback that's not saying much because it wasn't that deep a dip back then but it's starting to feel as if we've drawn in the very short term enough this isn't a fundamentally based sell-off where you don't have too much financial stress we did break the 50-day average in the s&p today, not terribly decisive one day or the other. fears building up. you're seeing a lot more buying of

i'm michael santoli at the new york stock exchange. semis stocks sinking today tensions with u.s. and china after raising 30% higher in 2019 is it time to back away from the chips? larry of oppenheimer and gina sanchez, your "trading nation" team today this has been a leadership group off the december lows and started to wobble before this week do you buy this dip or no? >> we think you do we're in the camp that this pullback is viable and one of the reasons why and i guess framing the environment i think we're in, it looks like 2013 and 2016 to us speaking in terms of the philadelphia semiconductor stock indexes. this was the last time the index punched through yearlong resistance after at least a 20% decline and in those prior periods, went on to rally for another year and they were viable so i think that road map sticks and it's very simple for us. the assumption is that it does, as long as the breakout holds and as long as you're above the breakout at 14.45 which was the january 2018 peak. you buy the pullback and this long-term uptrend continues. >> that would suggest every t

read it carefully. >>> let's head back over to mike santoli for his final dashboard of the day a lookng-term s&p 500. look how you used alliteration for all of the titles. >> i tried i cannot promise every single day we're going to manage that we're riding the range today i would say longer term. we keep talking about how the s&p 500 during this little pullback is down only 4% or so from its record high and that is absolutely true. but that record high was really not that high above the prior high and it basically looks like kind of a long-developing trading range. this is right up through today i was talking all afternoon about the 2800 level that's kind of where we are -- where we're kind of hovering above. why it seems somewhat important here is i'm going to actually clear that because this is really where it is that's where we topped out a few times back last year and even before we hit the highs in september. and it seems to be a level that separates a market that is holding on to its up trend or is back into the slots. this number right here is actually about 50 s&p points janua

we'll see you in a bit, mike santoli. >>> when we come back, a fiat renault mega merger is possible.of two of the how the exit of two of the industry's to introducing products faster... to managing website inventory... and network bandwidth. mos giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> it has been a busy morning in deal making fiat chrysler seeking a merger with renault it's the back story, the exit of the auto industry's most prominent figures that's driving the deal phil lib bow joins us on how the human factor helped propel this merger forward. >> two of the most colorful characters in the auto business who aren't in the business anymore, sergio marsh yoan and carlos ghosn who put together the nissan-renault alliance. most people this deal wouldn't have come together if these two gentlemen were around today. take a look at the deal following the merger offer from fiat chrysler. if these two automakers come together, it will create the world's third largest automaker in terms of sales. this is if it happens. here is what w

but could that be changing mike santoli's at the telestrator with more.>> they've gradually been pulled into this market this is a chart of the equity exposure of one category of hedge funds, volatility kroeltd systematic trading hedge funds not really important what they do except they have these models that tell them how much equity exposure to have, based on general volatility levels and whether they should be in cash, bonds, or stocks this is from wells fargo and it's essentially a proxy for this category. here's what you see. a very, very dramatic peak in early last year. that was dramatically cut back once the market gets very volatile they really do slash their equity exposure. slow rebuild through the summer of last year that was the october peak of last year. and then of course you have that quick guillotine pullback as we saw in september, october. and now this is what people are pointing to. we had tom lee on yesterday during the show talking about how hedge funds are only slowly being pushed in and there's more buying capacity in this capacity

i'm becky quick along with joe ke kernen and mike santoli.ng, what's going on >> reporter: good morning, becky. i am in atlanta this morning talking to some of georgia's biggest business leaders about the hot button issues from the business worlds from today's big tariff news to taxes and the economy and of course the controversial abortion law that has companies like disney and netflix and our own parent company questioning their presence right here. we're going to bring you interviews including a rare one with tony resler, billionaire fo

mike santoli. >>> facebook's push into privacy.ies of new policies being rolled out by the social media giant as you know. we'll get a lot more on that when we come back. dow up 87. back to 2952, sticky today rick, what are you watching? >> you know, i'm watching the markets in general it's been a great run for equities and thinking about all the people that want more stimulus in the economy. they must all be fans of the fast and furious hit the nitrous, hit the nitrous. we're going to talk about imatn tethbrk.stulioafr e ea - did you know that americans that bought gold in 2005 quadrupled their money by 2012? and even now, many experts predict the next gold rush is just beginning. (upbeat music) - [announcer] today the u.s. money reserve announces the immediate release of u.s. government issued solid gold coins for the incredible price on screen. these gold american eagles are official gold coins of the united states and are being sold for the price on screen. - pick up the phone and call america's gold authority u.s. money reserv

mike santoli here to break down the move that got started a few minutes ago when we got word out of kaylasche's reporting as well that it looks like we're going to delay any decision on auto tariffs for europe. happy with -- >> i think for as long as a little bit of a twitch, yes, it makes sense. what i like to look at is what works when you get one of these moves. we, obviously, are just reclaiming that last hour of losses yesterday, not even coming close to doing that just yet, but it's big tech again it's not -- it wasn't the car stocks driving us higher at this point. it was basically we like when we're in the buying mood, when we think the market has had enough pain for the short term it tends to be the large growth stocks that's offsetting weakness in the banks today. that to me is a little bit of a tell of where maybe the leadership still has to be >> so auto tariffs were worth 150 points in the dow, but i'm still trying to figure out what is this crummy economic data out of china and the u.s. mean for us i mean it field feeds into the global deflationary story again. it feeds into

i'm michael santoli at the new york stock exchange. tesla shares revving higher after increasing the size of its capital offerings to nearly $3 billion. so is the stock making a u-turn after a sharp drop this year craig johnson of piper jaffray, your trading nation team today craig, this stock for a better part of two years had been in a trading range kind of fell below that range, not that long ago making an effort to get back into it. how is that set up for you >> mike, as i look at the chart here, yes, you're correct. it's been a long term trading range. down trend since december of 2018 we need to confirm the lower end of the range and reverse that down trend so until we get a price of 273, i'm not interested in the stock. i also included in our chart short interest and that short interest level has been rising here and that's where a lot of investors are speculating to break the lower end of the range but from my perspective, i want to see the downturn reversal as they've been wrong in the past. >> boris, if they get $3 million, i

mike santoli starts us off tonight. >> after a messy may market pullback a more th 5% investors are now watching for signs of relief in the form of a bounce and the beleaguered stock index. the makings of such a bounce are starting to appear along the technical sment and seasonal front. the market has begun flashing signals that it is quote, oversold which simply means the indexes of individual stocks have fallen far bow their recent trend and appears ed somewhat streto the down side. though not the severe extremes of december when the s&p 500 sank 20% over three months the currentng rea are in the range of where balances have tended to occur. the treasury bonds have been crucial toit es as well, but the latest rushed lower to a yield of a 20-month low beneathi 2.3%ng fears about a global growth and innation outlook. that's theas enthu for stocks in the same way that stocks have appeared oversold. treasurys are looking overboug suggesting any backup in yield would offer some relief to equities. surveys of both individual and professional oinvestors ahow increasing pessimism, another ing

hey, mike santoli, i have not heard a single person mention a single word about mueller, impeachment, anything of the like when we just heard from robert mueller for the first time in the two years that he conducted his investigation. if the democrats are emboldened by what he said today, and you have to go through an impeachment proceeding on the hill, a long one, a messy one, and an ugly one, how does the market react to that, do you think? >> are you saying that perhaps that could end the collegial atmosphere in washington somehow, that we've been enjoying for so long >> do we think the market is just going to sit back and love every moment of that theater on capitol hill >> i think it will be -- i think -- look, the market has obviously been coexisting with this possibility in a very real way for a long time. i think that the outlines of everything in the report and what mueller said today, i don't think it's necessarily fresh i think, yeah, sure, you have to hunker down for this basically being another year and a half of kind of hand to hand combat in washington, it being kind of

mike santoli explains why. >> uber made its long-awaited public debut friday as one of the 100 or soly valued in the stock market andt's not clear when or whether uber might find the way into the keywi ind the s&p 500 or into thes trillif dollars worth of funds that track it. at its initial valuation above $80 billion, uber is more than ten times to gaine entry, and they require that the member companies report four quarters of profit using standard accounting measures to be considered for membership. uber has never earned anl annua profit and analys don't expect it to in the next couple of years. uber is investing heavily to recruit drivers and sign up new customers while subsi zing the cost of rise. it's common for new ipos to wait years before joini the s&p 500. what's unusual in today'shearket isast size of the established tech companies that are coming public after years in business with billions in nu re but no clear path to profitability. following's ub ipo, rework is planning to come public while ill deeply unprofitable as well. this will leave a fairly large amount of market

i'm sara eisen wilfred frost rejoining me along with mike santoli.a look at how we finished up the day on wall street. things were looking just dandy earlier in the day a new intraday session high for the s&p. and then fed chair jay powell, late-day sell-off on wall street ended up lower 0.75% lower for the s&p 500. broad based. all sectors ended in the red except for real estate technology even popped into the red just late in the session nasdaq down about 0.5% the dow jones industrial average closing down 164 points. apeple the notable winner almost everybody else a loser. nike, microsoft, home depot. investors didn't get a clue one way or the other whether powell is leaning toward a hike or a cut. and there was a big sell-off at least into the close investors gearing up for another day of big earnings. qualcomm, square, fitbit and more set to report any minute. we'll bring you the numbers. full team coverage of all of those results, and we are here to analyze it. first, though, let's talk about what just happened to the market jeff sherman from do

mark santoli, phil lebeau on auto tariffs, courtney reagan on weaker retail sales, rick santelli with the bond report and our guest host for the hour, barry knapp. >> plus, the big stories of the day. the global impact of a trade war with the former ambassador to china gary locke, plus talk with the ceo of "the new york times." >>> also day three of our week-long series highlighting five top fund managers for five days straight. jerry dodson has three stocks to watch into the close we start with bob. what's going on with the markets and this big turn around we've seen >> we did lift midmorning as the president said he was delaying auto tariffs we saw the autos move to the up side general motors moved up about 1% it's up and stayed up. but other key sectors trade related haven't done much at all. want to point out 3m and most of the other ones take a look here 3m down. caterpillar not doing much uelse take a move here to the left and i'll show you some of the big retailers still down another new low for gap. many of the other big retailers that import heavily from china on the down sid

. >> is is he here >> he's here he will be on the set and santoli will be on the set >> i think i canell them apart. >> that's true ♪ >> i think santelli and liesman will be on the set at the same time >> okay. >> i'm trying to figure something out. >> call security >> trying to figure out a way to stir them up >> yes >> coming up, we'll talk about the week's big rate shock and what it means for your money rick santelli is in the house. he will join us next as we head to a break here's a look at the biggest premarket winners and losers in the dow. the ai i need? it's gotta scale across my business. starting here, in procurement, helping us find the right suppliers. then here in logistic, to avoid disruptions! here in sales. even here! i'm talking about ai we can build to work... here, predicting trends. and here, wherever our data lives! and here, working with all our other ai! i think we're done here. expect more from ai. ibm watson. ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity tr

find out if that could put a trade deal in jeopardy >>> plus, mike santoli breaking down the charts to see how the ter ev has historically traded afprious trade tension escalation we see access to fresh food being the global norm, not the exception. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> aig earnings are out let's get to seema mody with those numbers. >> sara, aig shares popping 2% in extended trade. a huge beat on its bottom line notable rise in net interest income and an improvement in its combined ratio falling to 97.4 in the first quarter from 103.8 in the same quarter a year ago as i'm eminded the lower the ratio the better aig shares now up about 2% on a big beat on its bottom line. guys, back to you. >> seema, thanks for that one. now, stocks staging a major comeback intraday after the initial plunge following president trump's tweet. the tariffs on $200 billion worth of chinese goods could rise to 25% by friday. mike santoli looked at how previous trade threats have impacte

santoli >> he doesn't want to -- >> don't want to play?ocess. >> wage gains 3%, you think? >> 3.2%. 0.3% this month. >> participation rate continues to -- >> flat. >> oh, that will be flat okay all right, i'm going to get -- i'm afraid i might be late, so i'm going to read slowly, but i'm going to get to elon with plenty of time let's get down to ylan mui in washington and we've got about ten seconds, ylan you already know what it is, so i'm going to look at your face and see if i can tell whether it's good or bad anyway, what is the number, ylan >> 263,000 nonfarm payrolls rose by 263,000 jobs in april, beating expectations the unemployment rate also dropped by two percentage points to 3.6%, and that is the lowest rate since december 1969 average hourly earnings were up by 6 cents to $27.77, a 0.2% increase month over month and 3.2% increase for the year the labor force participation rate, that declined by 0.2 percentage points to 62.8% in april but was unchanged from a year earlier now, we got a mixed bag for revisions. february's bad nu

ask your doctor if eliquis is what's next for you. >>> mike santoli at the telestrator with a look at's performance. berkshire. >> berkshire hathaway which over the long term has trounced the s&p 500. has been one of the miracles of the investment business. but over five years it's also done well against the s&p by this measure i'll explain that in a moment. this in blue is berkshire hathaway shares, the class b shares, which is the most heavily traded ones right now. the orange is the s&p. that's a pretty healthy margin of advantage for the stock over the s&p considering most active managers have not been able to do that. it's about a half trillion-dollar market cap but look at the next screen. this is the total return, which would include dividends for both stocks and quite neatly it almost exactly matches up berkshire hathaway slightly trails the s&p because the snch faces a dividend of close to 2%. berkshire hathaway kind of famously does not. buffett refuses to do that he's matched the market's return over five years. over 20 years he's doubled it. >> in my book only the second c

i'm sara eisen wilfred frost rejoining me in just a moment along with mike santoli, cnbc senior marketsmentator. take a look at how we finished up today on wall street. we were all over the place but we did end the day higher. the dow jones industrial average going out with a begin of 118 points not bad considering this morning we were down as much as 358 points s&p 500 breaks the losing streak closing higher for the first time all week long we have seen a positive close on the s&p, up .4%. it was one of the more defensive groups that led us there utilities. materials did well staples, real estate, financials only health care ended the day in the red the nasdaq composite closing just around the flat line. between gains and losses in the final hour of trade. the russell 2000 index of small caps up about .2 of 1% we just got the weekly numbers here and it looks like the s&p is moving 2.17%. that's going to make it's worst week of the year for the s&p worst week of the year for the nasdaq and not the worst week of the year for the dow maybe the worst week since march. you get the picture.

this year just not as strong as previously. >> not too bad keep looking stock we'll see. >> mike santoliyou. >> morgan, thanks. when we come back, facebook under fire could a breakup happen julia boorstin will sit down with chief operating officer sheryl sandberg with the dow taking another leg up here, now down 53 points we're back after a break rodney: when i think about what makes quality public education, i think about the important people in students' lives that's beyond the classroom. marisa: the needs that students have for emotional counseling are not being met. rosanne: students need art and music. more creative kids tend to be better problem solvers. angelia: one of the things that we're out there marching for is more counselors and more nurses. roxana: when we have those resources and that support, we're able to give students the education that they need. rodney: because we know quality public schools... roxana: make a better california... marisa: for all of us. >>> good morning, everyone i'm sue herera here is your cnbc news update at this hour. taiwan's legislators voting to

. >> similar thing >> and mike santoli. what stands out to you in the sell-off >> not a one-day event that's for sure. clearly the market had priced out trade tensions we're now tradepricing back in trade tensions eu came out today and downgraded germany's gdp growth from 1.1 -- again from 1.1 to half a percent. that's not good. they used the word major shock when talking about these trade tensions it's problematic when you kind of define this as a binary outco outcome. that's something i have a bigger issue with i would say this is more of a hedging event for the trading community than it is as we look at our allocations toward equities and let's pare back those holdings i don't think that's the right strategy i think you have to focus on the fact that earnings have been incredibly strong. now you have corporation that's are going to have an opportunity here in the next couple of weeks to not have to worry so much about rising private sector borrowing costs and have the ability to buy back some stock at probably cheaper le

can wall street's risk off rally last mike santoli is here with us at post nine to expand on somethingten today. >> even with this good bounce last week we got off monday's lows, even before we got this latest jolt from the escalation of the trade war rhetoric, it was mostly a defensive stock led rally. essentially we had a resilient market, less than 4% from the high in the s&p, but built on a fragile premise in terms of macro implications very defensive stocks, low yields supporting valuations, basically speaking to expectations of a rate cut, which would require softer economic numbers to come true. and the bounce last week was certainly well timed and happened at a place where the market probably could have gotten out of hand to the downside and didn't, but was relatively unimpressive. narrow breadth and still seems to some degree to be resembling the 2016 experience, early 2016, very climactic bear market volume, and brexit happened, this macro shock, caused a test of the rally, caused some real negative sentiment, starting to get more skepticism in the market right now and then w

michael santoli now for show "trading nation." >> thank you very much check out foot locker having the worst day in nearly two years after missing earnings and slashing guidance as those trade tariffs loom craig johnson from piper jaffray. craig, this chart has a lot of jagged peaks and valleys how does it look to you? >> i look at the chart and something that doesn't fit for me from a technical perspective because we've had a big downdraft here in the stock and really oversold. look for some sort of little relief rally in the stock. perhaps back to 53 but ultimately, if that fails, support at 30 and not a stock for me at this point in time, mike. >> whole chain retail, you can find inexpensive looking stocks with obvious challenges out there. is this the kind of name that you might be attracted to at this point >> not a name, we prefer the suppliers with the e-commerce route and in addition, nothing is really more at risk from tariffs than specialty and athletic apparel particularly, footwear that third threat in tariffs, additional $300 billion f that goes into effect, that could inc

before you invest, investor.gov. . >>> want to thank eric cantor, melissa, mike santoli.ing that. >> keep faith in america we're the best >> that was 120 characters characters, #usa i will teach you i will teach you how to do it. join us tomorrow "squawk on the street" is next ♪ >>> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla along with david faber. cramer at one market in san francisco. as we look for another day of gains. the e-con data much better today than yesterday walmart with the best q1 in nine years. we pay more attention to huawei as a potential trump card in trade talks. watch yields philly fed

melissa, mike santoli. ken will be answering tweets directly after the show. >> no. >> you won't be doing that. >> keep faith in america we're the best >> that was 120 characters characters, #usa i will teach you i will teach you how to do it. join us tomorrow "squawk on the street" is next ♪ >>> good thursday morning. welcome to "squawk on the street." i'm carl quintanilla along with david faber. cramer at one market in san francisco. as we look for another day of gains. the e-con data much better today than yesterday walmart with the best q1 in nine years. we pay more attention to huawei as a potential trump card in trade talks. watch yields philly fed starts and claims were all better than expected. strong earnings outweighing the lingering trade war fears. stocks boosted by walmart and cisco. >> plus president trump declaring a national emergency over threats to technology. >>> and beyond meat surging since its debut. uber stumbling out of the gate is it a wakeup call for other silicon valley unicorns.

. ♪ ♪ >>> time for our etf spotlight santoli at the telestrator looking at small cap versus large caps shifted a bit in the last six weeks or so this is the iwm russell 2000 small cap etf. that's an 8 percentage point spread it has been mostly since september. almost entirely since september. dead even right there in mid-september. you see in the downturn, the small caps badly underperformed, lower liquidity, higher risk perceived in those stocks have not quite come back as far as the overall market right here, about late march, they basically were -- that's when the relationship bottomed, when the underperformance of small caps has essentially stopped getting worse f you look at one month, you can see some of that flattening out or performance and essentially the russell 2000 is slightly outperform why? domestic, not global also, high financials waiting, 18% financials, 13% in the s&p 500 and less tech. so the less we are worried about -- less we're focused on large cap growth tech andsh shutting financials, got to see if there is any carry through. russell 2000 is 8% or 9% below its

. >>> stocks are selling off dow down 533 mike santoli has a closer look at the recent trends that weme of these big moves. mike. >> carl, so going back to the beginning of last week, this is day six of the trade influence gut check this mark et is having if you look at the start of last week, there is a pattern we have to monitor as the day goes on, which is that intraday rally or rally attempt. in each day, a big overnight sell-off, the futures are lower, into the open, and then you had some kind of rally attempt, monday, tuesday pretty flat, but end of day rally attempt but pretty much each day you picked up and closed higher than we finished this edfinished. a brief stand in the s&p 500 right around the lows from friday as art cashin was mentioning we have broken below that. i think if you look at a longer term chart, two-year chart of the s&p 500, it is going to get to a little bit of what people are in a big picture sense slightly more worried about, startinging to lo ing ing to lo topped the same location, roughly a couple of times, slightly lower, we closed friday at the janua

thank you, julia now over to michael santoli for "trading nation. >> thank you, bill tesla, sinking todayh wall street turning its back on the electric auto maker, stock with 12 price cuts unloading the majority of the and joining me now to talk about this one this stock for a very long time traded in a wide range between 250 to $350 a share. it has broken below that range >> that's pretty bad any time you have major support that breaks, the next key is to look for when's the next downside level the next downside level for us, some support at 215 but really, there's not major support until $125 big downside here. we think that downside risks, far outweigh any sort of oversold bounds because, again, broken support turns new resistan resistance major at 250 with the next support on the downside on 185 for us, this is a chart that we want to avoid all together >> all right seems precarious >> i think the stock is finally coming down from ridiculously high levels. the company has been unable to show cash flow generation and balance sheet issues and the board members that are not seeking reele

joining us barbara reinhart, mike santoli joining us as well.d cause maybe, i don't know, maybe a hike or to go down due to economic weakness with no inflation. so, staying on hold is exactly where the fed should be, is that basically it >> yeah. it's an accommodative term from last year for sure and there's a high hurdle for the fed to cut interest rates at this point, yes, why the market has been pricing in somewhat of a fed cut at this point about 40 bases points, if you put probability assignments against it, it's really not all that material and in our view, the signs of inflation just don't seem to be there. if you take a look at the nfib survey, they do not site that inflation is a big issue for small businesses and while the core trimmed mean inflation from the dallas fed is -- is still sticky at 1.96%, you know, we don't see much to really punch it over that at this point additionally, the fed told you they would like to see inflation run a little above their target to try to hit their target in the long-term. so, we just don't see that

mike santoli -- >> thanks for having me. >>> when we come back, qualcomm shares under pressure after company violated antitrust laws. >>> plus, tesla shares skidding nearly 40% this year, tracking its worst performance ever we'll talk about these names and much more right after this break. "squawk box" will be right back. [ honking >> what are you doing? ♪ most of us don't know how much data we use... ...but we all know we're paying too much for it. enter xfinity mobile. america's best lte with the most wifi hotspots. combined for the first time. when you're near an xfinity hotspot, you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. get $250 back when you buy a new samsung galaxy. call, visit or click today. >>> okay, still to come on "squawk box" this morning, qualcomm under pressure after a judge rules it has violated antitrust laws we're going to get street reaction right after the break. >>> and then, no pain, no gain a look at the short-term effects of tariffs versus the

michael santoli for "trading nation." mike >> thank you, melissa. let's take a look today at 3m.s the worst performer of the dow so far this quarter. matt maley, your "trading nation" team these are the conditions to ask, where it's so bad it could become good. how does that apply to 3m here >> not only stocked down 15% this month but down 25% since late april i mean, basically, they reported poor earnings. they were already having problems before the trade negotiations fell apart. so the stock is really in tough shape. on a technical basis, having said that, very oversold look at the daily chart, rsi down to a level usually followed by pretty sharp bounces. also at a 20 day discount, back to the moving average. you have to go back to the 2009 lows to see that kind of discount and weekly rsi chart, also very oversold back down to levels to see sharp bounl bounces. this is not a stock i want to be selling here if you want to buy it, it's a short-term flip, but i think you'll see a good enough bounce though so if you want to act on the sale side, you'll be able to do it at higher p

i'm michael santoli at the new york stock exchange. the bears are coming for deere, that industrial stock getting crushed as trade war concerns weigh on market. the shares now down nearly 20% in their 52 week highs craig johnson of piper jaffray and bk asset management are your "trading nation" team. craig, obviously, the results from deere pretty much confirm the market's conclusion before this that the company was going to have a rough go of it looking all washed out, how's the set-up >> not yet if you look at this and under on a basis but next area of support around 128 and a little bit of a relief at that point in time and i suspect it's sold and then really have to watch out not going to step up here at this point in time >> the market priced in the stock and not particularly expensive at this point even if they come down and would you make the contrarian play >> i would probably down to 110 and 115 and let the price come to me. and we don't know how the china story plays out. deere has a tremendous franchise in agriculture and on