A Peek Into The Markets: Fed Decision In Focus

CNBC's Fast Money
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Automatic TRANSCRIPT

Are welcome back to fast money. There's your numbers. A lot of green on the screen. Stocks rallied today the S. and P.. Five five hundred. Somebody goes home and says hey wins the best day since you'll say it was the best state for the S. and P. since October the Nasdaq is since September. You Got Music. What's your take on today's chewing your guy's dog we got music? What's your take on today's big balance but it was a little hip hop and if if you look at the bond market you had about a forty fifty basis point recovery? I mean in terms of a four point four point recovering the tenure. So not extraordinary. When you consider how low-yield Scott and you look at the Batson semiconductor some of the Higher Beta stuff? You got a nice bounce but yes the vix twelve to thirteen percent today. The things that are hanging over the market which are still now growth expectations. I think haven't really changed and we have to get through some other extraordinary tech this week. So net net by the way. There's there's a fed meeting tomorrow. I don't think they're going to do anything. But I think the Fed needs to continue to talk about what they're gonNA do with that balance sheet because we talk all the time Brian Show some great graphs on the correlation relation between the market and the size of the the Fed balance sheet very important. Not your friends. I think that's exactly right. I mean it's a fed data mart. Think a lot of today's move was basically on the back doc of anticipation of this apple number which market guy and lining up ahead of the Fed. Tomorrow which got only knows what they say but for every Apple Nafta market. And we're GONNA talk about it later but you Kevin. AMD The southbound four percent. You have Xilin down eight percent so there's a lot of cross-currents here again. I don't think yesterday solved anything necessarily and I certainly don't think today's action in did I would say just stay patient here you look at the breadth today and maybe the best market days Tober but the internals were tepid advantage over decliners. Three to one I WANNA see days five to one six to one seventy one. We didn't get that today. Copper soft crude bounce very tepidly you saw the shares as the China. ETF AS HR down on the days. So you didn't get that oath that you WANNA see coming off a low. Yesterday you had about thirty percent of the market. Make a one month low if you're looking for a good tactical by signal that higher about fifty or sixty percents that puts a low in. I don't think we're there yet. I was surprised marketed. This well there was some very not so great data out this morning but weren't really not I. I don't know if there is some noise there or I mean so that I'm surprised of market. Did this well on the heels of that because I was sort of surprised how can maybe too. The short shows horn a little bit because yesterday we should have broached this idea about China may be coming at you guys on a plane by the way. Nice it when they can have live fast money on on on Delta Airlines and it's fantastic. Keep out via the final trait you know. We talked about maybe China coming in with some sort of economic or monetary or fiscal Michael Stimulus and there was some stuff going around this morning that the China's central bank was whispering about abundant resources. You know you wonder if there is this backstop even with all. That's going on there scary as it is that the Central Bank of China is not going to allow the economy to not recover. And I think we have to say. Hey hold on a second wait a minute before. We got the corona virus. I know it's a big before but but China was stimulating. The currency was rallying. China is the engine for certainly Asia and much of the trading world so emerging markets are down seven point seven from peak five eight days ago to trough yesterday only recovered eighty six pips today. I actually think there's a trading recovery emerging being markets to take a look at especially a laggard and one that moved three times. What most things move so back to China? I think they do have a lot of bullets. Brian I think they are in a position where they are stimulating balloting. They've already thrown some stimulus that the market they've done a triple are cut. I think to the extent that they have more leverage to pull on still planned economy. I think they can do it. Okay we've got a news alert right now on facebook.

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