00:00 Speaker A
There's the closing bell on Wall Street. And now it's market domination overtime. We're going to be joined by Jared Blickre in just a moment to get us up to speed on the details from today's session. Let's start with the major averages here. We did see a down day for all three major averages, but not down nearly as much as it was this morning when we first woke up to news that President Trump was sort of ramping up the rhetoric on the EU, talking about imposing new tariffs of 50% there. And taking aim at Apple, talking about 25% tariffs on the iPhone maker on iPhones imported into the US. Later in the day during taking questions from reporters, he also put Samsung in that bucket in terms of phones made by that company. All of that said, perhaps markets not taking it seriously unless he signs somewhere on the dotted line to impose these tariffs. The Dow still finishing the day down though, by about 256 points, almost half of 1%. The S&P 500 down about two-thirds of 1%. And the NASDAQ Composite off by 1%. Jared's got a closer look at the action. Hey Jared.
02:08 Jared
Thank you, Julie. If I recall Monday, we woke up to some bad news that day too. Managed to claw back the losses, but I'll tell you what, this week has been the worst week for most of the markets we're looking at since the beginning of April. That was liberation day week. Here's the NASDAQ down about 2 and a half percent. Not a disaster, but S&P 500 down a little bit more. And the Dow just off about two and a half percent as well. I had the VIX on my radar today because it spiked up. It had the biggest spike up in about six weeks. It is off of those highs, well off those highs. So it rejected the 25 level, but we are back again against we are back over 20. So that's something I'm going to be keeping an eye on. Here's a look at bond market volatility. We only get one quote at the end of the day. And you can see that is ticking down from the high that we had earlier in the week. And let me just show you the 30-year because that has been a source of contention for the risk markets. Potentially, it's been above 5% all week long. And it's drifted up, it's drifted down, but still holding above that big 5% mark. And meanwhile, the US dollar index has slid to the lows of the week. Here's a year to date. You can see it is not at the year's lows, but it's getting pretty close there. So that's another thing we're going to keep an eye on next week, but starting Tuesday, not Monday, because we will be off air for the Memorial Day holiday. Here's a sector action, utilities, staples, energy, and real estate in the green. So kind of a defensive setup for some of these sectors in the green. Tech, the biggest loser on the day, down over 1%. Here's the weekly totals, energy, and tech down the most real estate, discretionary, and financials also underperforming. And let's take a look at the NASDAQ 100 for the week. Google Alphabet is a standout up 1.4% in the middle, but Apple down 7.6%. A lot of these stocks like Tesla down 3%, a lot of these stocks having their worst week also since liberation day. I want to show you what's going on with my leaders, and I'll close out here. Bitcoin is the exception. That risk market has been hitting all-time highs, 110, 111,000. It's backed off of that. But to the downside, chip stocks, home builders, and solar having some pretty bad price action this week, 5 to 10% down.
