Listen: Facebook, Apple And Bloomberg discussed on Bloomberg Surveillance
"Crisis. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures up a point Dow futures up nineteen NASDAQ futures up twenty one the Dax in Germany's down a tenth of upper said ten year treasury of nine thirty. Seconds. Yeah. Three point nine percent. Yield on the two year two point eight three percent. Nymex crude oil up four tenths percent or twenty three cents to fifty six forty eight a barrel. Comex gold up two tenths percent or two dollars twenty cents to twelve twelve thirty an ounce. The euro is it a dollar thirteen three. The British pound is down about one point seven percent against the dollar at a dollar twenty seven seventy six and again as it went thirteen point three one. And that's a Bloomberg business flash. Tom occurring. Thanks so much. I really wanna make clear with sterling one twenty seven seventy seven it's making a new run of weakness towards the one twenty seven fifty level that we saw it about five twenty five. An that was a spike down in really some new weakness here that bears careful consideration. And of course, this is we see different headlines for American audience. It is a quarter of five I think, so we're just a cocktail or we're real conversations begin in London in that will be interesting to see as well right now on the technical market from baker's partners. John Krinsky joins us Januar all wrapped up in this international economics, but the great barometer within your technical Alice's are charts. Let me start with an open question. What do the charts? Tell you right now. Well, they tell us that despite the fact that were essentially the same level that we ended twenty seventeen the internal picture is much weaker and one of the metrics or look at the percentage of s&p stocks above the two hundred eight we ended last year to around seventy percent and now around forty percents markets gone sideways, but less stocks are participating less and trend. So that's just that. While there could be a little bit of bounce here after five straight down days that were a bit skeptical and the whole narrative of of bullish year. End rally may not come to fruition at easily that does not years. John what are the ban charts? Tell you. If you price yield or you price, or you chart, I should say if you chart yield are, you chart note or Bill price? What do you see there? I mean, I it's interesting. There was going to be higher yields a bond bear market lower prices. And the opposite is occurred with a ten year now three point zero nine three nine one of bond charts tell you well, again, let's let's take a step back. We just rallied from two eighty. You know in in late summer September up to three and a quarter. So some give back would be would be expected. I think also from positioning or sentiment standpoint, you have pretty close to record net shorts in the bond market from some large speculators. So whenever and is expecting bonds to go down that makes it difficult for those to do. So so not necessarily surprising to see, you know, pullback in and rates here, and that'll probably shake out some of the elite shorts in the bond market. But I think from a long-term perspective, we are in this in the secular bottoming process for yields. Remember, we've been in a downtrend free for thirty five years. I think we've put in a secular low, you know, a few years ago, and we're in that process of going from a downtrend an option, let's get back to the out of the market right now. The thing sucks. Let me begin with apple which I don't I can't remember if it's a stock or not but apple a bear market. You Toby earlier this morning, you're comfortable at one eighty state the case for that. Yes. So it had a big run up in the into earnings that run up started from around that one eighty level or also right around the rising two hundred eight moving average, usually when you pull back into a rising moving average you want to be a buyer apple still displays some good relative strength to the markets. I think tactically it can certainly be a by here. I don't think it's going back to new highs anytime soon, but I think it's a decent place to be if you're especially if you're looking for some spots to hide within the market in the news, the New York Times article six thousand plus words on Facebook on Sandberg Zuckerberg, the chart, I'm Facebook. What a different chart, isn't it? It is. And you know, I think that last move that we stopped at two twenty just prior to their earnings in the fall was kind of kind of the last ball trap. Moving defined bull market catharsis almost euphoria, isn't it? Yeah. It really was. I mean, it went they went from one fifty or a straight line two to twenty got probably got a lot of shorts to cover a lot of new new buyers, and then quickly reverse that and you now we're back below the lowest from the summer. So I think the trend and Facebook is a little bit worrisome. You know, we can find some support levels. But really, you know, we're looking probably closer to one twenty before it becomes more of a of a washed out by entry the consumer area. There's different there's discretionary their Staples things. I have never memorized. Well, but as a general statement, I P E multiple consumer stocks, obviously they've pulled back, but how much pullback if they pulled back. Well, yeah. Let's let's look at some perspective. We're actually discussing some of the video game stocks. Games aren't a consumer"