abigail doolittle highlighting the earnings story. and then of course, i'm not sure politics or the fed is the main event today, but certainly one of them. mike mckee looking at the data, looking at the fed decision for us. let's start with what has happened with these elections that have taken place over the last couple of days. a stinging blow certainly for the democrats. republican glenn youngkin defeating democrat terry mcauliffe in that closely watched governors race in virginia. mcauliffe conceding in the last few minutes, a sign of building momentum potentially, but the swings of u.s. politics absolutely enormous at the moment. potentially a good sign for republicans as they head into the 2022 midterms. joining us to pull this together and with the input occasions our near-term, emily wilkins of bloomberg government. how should we read this? emily: you virginia governor race is always watched very closely. it is seen as a bellwether for what is going to come for those upcoming midterms. we knew that the 2022 midterms were alrea

while the men fought, many women -- including abigail adams, the future first lady -- capably ran their families' farms and enterprises. in recognition of their service and patriotism, new york, new jersey, massachusetts and new hampshire allowed them to vote. then the men returned from the war. by the time of the constitution's ratification in 1788, most women had been disenfranchised. new jersey held on until 1807. by the mid 19th century as the industrial revolution rapidly gathered steam and rapidly urbanized america, women's status declined still further, at least those of the middle and upper classes in towns and cities. in the old agrarian economy, home and work were intermeshed on farms where the labor of both sexes sustained the family. especially in the booming urban areas, men's jobs in the new factories and offices now supported their wives and children. eager to codify this huge shift, victorian society confined the sexes to what were routinely called desperate spheres -- separate spheres. men got the public world of the home -- excuse me, men got the public world of indust

well, so abigail's very busy in courtrooms trying to make her case. but other western women continued to accumulate power by moving from community building to large scale social reform which was also catching on in late 19th century, later 19th century america. many women enlisted in the powerful nationwide women's christian temperance union. it began as a campaign against the vices that jeopardize the family, particularly drunkenness and prostitution. before long, however, the wctu embraced suffrage and a broad do everything agenda, that's what it was called, that included sanitation, labor regulations, pure food and drug laws, the rehabilitation of prostitutes, the starting up kindergartens. this pragmatic shift was especially popular in the very practical west. contrary to its image, the wctu still one of the largest and most important political organizations in american history gave tens of thousands of women a path from the home into the larger worlds of personal growth, social reform, and politics. by strongly influencing public policy before wo

back abigail became a suffragist with her husband pressed a friend of his and countersigned a load of his friend, the friend defaulted on the loan and mrs. dunaway home which she shared with her five or six children, the bank seized their home. she was so outraged, she it worked a dog establishing i think their second firm, establishing the farm and giving things up and going, that she on the spot became a suffragist. and again as was true often of the early feminists, what she really wanted was women's property rights. because women have no money,, they had no power. well, so abigail is very busy and courtrooms trying to make her case but other western women continue to accumulate political power by moving from community building to large scale social reform which was also catching on in late 19th century, later 19th century america. many women enlisted in the powerful nationwide women's christian temperance union. it began the campaign against the vices that jeopardized the family, particularly drunkenness and prostitution. before long, however, wctu embraced suffrage that included

. -- abigail doolittle. abigail: we had the s&p 500 down on monday, up yesterday. today we have the s&p 500 down again, but off of the lows, at this point down just about 0.2%. beneath the surface for the s&p 500, big moves. the gap is plunging, its worst day one back to 1980. it is down about 22% after a big miss for the quarter they just reported, missing adjusted earnings in a massive way, revenues by about 10%. you can see those shares really not reacting well. they cut the forecast on supply chain issues. take a look at deere, the best stock for the s&p 500. overall, looking at a small decline. deere up 6.6%, and they raised the forecast despite the supply chain issues. just so much demand from farmers. the bigger story probably is still rates rising. you can see the two-year yield, unbelievable. the highest level since march 4 of 2020, so essentially before the heart of the pandemic, now at 65 basis points. that is the bigger pressure on stocks and technology in particular. guy: and certainly having a big impact on the dollar as well. thank you very much, ind

start with john abigail adams and work it all the way through today. it become less vogue interrupting party to talk about ronald reagan. ronald reagan laid out clearly for us. about the way he saw this country is a shining city on a hill. we heard it before but we need to be reminded. we don't have to be a country that's pessimistic. we better be a country that's optimistic. we don't need to be yelling and screaming at each other all the time although we will yell and scream when we need to. but we need to be providing hope for the future. the democrats are the party of despondency. everything is bad and you need us to get you out of it. the republican party is the party of hope. and aspirations and the american dream. if you all are willing to join with leaders all across this country to do that, then we are going to see a greater day not only for our republican party, not only for each other and our children and grandchildren, but everyone around the world who is dying once again to stand within america that stout -- that tells the truth and we can

abigail doolittle is watching those markets. abigail: it is looking pretty ugly indeed. lots of red on the screen. it feels a little bit like early 2020. it looks like early 2020, especially in the fact that you have some of the riskier commodities and retails selling off. new york crude down 9.2%. it just keeps going down, the worst day since april 2020, the lowest since september. take a look at copper, also down 3.6%. in early 2020, you had continued selling and all of these markets, but not so much for the s&p 500. the s&p 500 now down about 2%, and we can see it is quitting moving down towards the 50 day moving average on a sloping rsi. when that happens in the past, it typically means that they have had that 50 day moving average. in one case this year, below the 50 day moving average. we were looking at the russell 2000 on its 200 day moving average, so brutal selling. the airlines, the cruise lines, marriott also down sharply on the idea that with this new covid variant, the uncertainty around what will it mean, will there be lockdowns, and will folks be more rel

how does she gain abigail spanberger's vote? emily: for abigail spanberger and other lawmakers facing tougher elections, part of this is they want the bill to pass, they want to make sure they can go back to their constituents and save you like the checks you are getting in the mail with the child tax credit? that is the democrat priority. health care expansion, democrat priority. these are the type of things they want to go back and talk to their constituents about. if you look at what happened on tuesday when democrats were so badly damaged in the elections, it has solidified the one thing they need to do to make sure they're able to hold the house next year's midterms are to pass these major spending bills. you see that momentum, you see them wanting to capitalize. we still do have a long way to go on the social welfare and tax plan. even if the house votes to pass it today, that does not mean it becomes law. it goes to the senate and the senate is expected to make numerous changes before it goes back to the house. we have se

abigail doolittle has a look. abigail: before taking a look at disney, let's take a look at some of the other big earnings movers. tapestry headed to its best day of the year after coach sales went very well, and the buyback bold -- buyback doubled. this stock had been down 25%, and some of the with zillow. they posted a narrower loss than expected. shares bouncing back in a huge way. to the downside, bumbled down 13%, now below its ipo price. they had their first paid user decline since the ipo. we also see beyond meat down 17%. they issued their 2nd street sales outlook that was under the street estimate, and that calls into question whether or not some of the pandemic trends are really coming to an end because beyond meat had been doing very well, and that could be a question around disney, too. disney is plunging on the day. you can see it is down about 8.6%, the worst day since march of 2020. that is the degree of the selling pressure. as you know, it has every thing to do with the disney+ subscribers. not en

virginia democrat abigail spanberger on an election call warn democrats don't ever use those words again. now the white house walking back president biden saying no to payouts to illegal aliens after the aclu hit the ceiling. those payouts potentially still in the works. elizabeth macdonald, "the evening edit," it starts right now. ♪. elizabeth: thank you so much for joining us. you're watching the fox business network. we've got fireworks again on capitol hill. we have senator rand paul saying dr. fauci, resign. you're misleading america. you're taking no accountability. you're making up definitions on your own ad hoc on the fly. what is gain of function supervirus research? dodging accountability for funding this lethal work. now dr. fauci denied that again today. let's go to david spunt. he has more on dr. fauci on the hot seat today. david, good to see you. reporter: good ening earlier today doctors anthony fauci and rochelle walensky briefed republican and democratic senators about information to vaccinate children ages five to 11. shots began going into arms earlier this week. th

abigail doolittle has an update. abigail: this is super exciting with the shares of rivian up more than 40%. when this stock was first priced, it priced at $62, it increased to $76, and now we are looking at a market cap valuation of $110 billion -- $91 billion. it is incredible. there is so much enthusiasm for the future of these ev trucks. only 200 have been delivered so far. by the end of the year, 1200. that is more than $100 million per vehicle by the end of the year. it is all about the future. in terms of the ipo, it is similar to what we saw for -- in september, the stock was up 56%. bumble was up 60%. airbnb at more than one her percent. tesla in 2010, its first day, up 20%. it went off at $3.40 and closed at $4.78. rivian is hot, hot, hot. matt: and big, big, big. i know a lot of people who put in orders for these trucks. electric vehicle pickup truck has been something everyone has wanted to bring out as quickly as possible. so far, nobody has. ford has to f150 lightning, it is not coming out until next ye

and sometimes abigail said i think i'm mailing my letters to the ocean . at any rate, distance and time were different then. and especially on americans who you're studying in the 18th century need to recognize that. >> how widespread was the popularity of the rebellion among the 13 colonies ? >> there's a famous quotation from john adams because he cited a lot of history books. he said one third, one third. one third work for it, one third were against it and one ,third wanted to be neutral . in fact he wasn't talking about the american revolution hawhen he said that. he was talking about the french revolution believe it or not. historians who have studied the lawyer less movement show at that point 20 percent, slightly less than 20 percent of the american population and as loyalists. there's spectrum within the loyalists community americans were much less than that and then there are people on the other side who simply wanted to remain neutral but some of the comments i made to david suggest you weren't allowed to remain neutral. that's one of the secret

and when atoms abigail and john were trying to mail letters to each other because they had something to, it would have to take almost a year pretty kind of back-and-forth to occur and sometimes, abigail said in the o'malley my letters to the ocean. but at any rate, it's distance that makes in time for different than and especially americans at study in the 18th century need to recognize that. >> how widespread was the popularity of the rebellion among the 13 colonies pretty. >> there's a famous quotation from john adams that he cited and a lot of history books and he said that it is one third and one third and one third, one third the reporting one third that was against it in one wanted to be neutral and in fact, he was not talking about the american revolution when he said that, he was talking about the french revolution believe it or not in the historian students study the soils movement showed that about 20 percent or just slightly less than 5 percent of the working population, ended up as loyalists and the spectrum within the loyalists community refer those actively performed ag

abigail doolittle has the details. abigail: that is a big deal. there was the asset sale announced this morning. pioneer put up a great quarter and this has allowed the company to raise the dividend. you can see free cash flow when we look back to 2020, we have record free cash flow in the third quarter of more than $1 billion, pretty impressive. they appraise the quarterly dividend to greater than three dollars per share on a quarterly basis. that is a lot of money for a dividend to be netting. you were just mentioning the energy crisis. the average price of the barrel of oil equivalent in the third quarter -- relative to a week before. you can see the growth is incredible on a year-over-year basis, greater than double. $44.70 helping to explain that. in terms of that sale to continental for $3.25 billion, look at the strength in the permian. you can see the output is collectible. making it a rich area and terms of natural resources. pioneer is certainly benefiting. alix: appreciate that. bloomberg's abigail doolittle. we welcome scott sheffield.

bloomberg's abigail doolittle. spain is confirming the first omicron variant case detected in madrid. it is being detected all across europe. we have not had an official case in the u.s. but as dr. fauci said, you can be sure. this is bloomberg. ♪ alix: we are waiting for president biden to speak on the covid variant. we are joined in the meantime by david westin. what can we expect president biden to lay out when he speaks later on today? david: that is the question. he has a lot of pressure. countries around the world on friday started to close their borders. we now have a direction from the united states with respect to southern africa. will he talk about things like wearing masks? he will tell us we need to get vaccinated. it is all of the more important. on the one hand he needs to act decisively. at the same time he does not want to shut down the economy. guy: if you think you will be hoping that what is happening on the ground may make his life easier? david: i am sure he will be hoping that. i doubt wheth

bloomberg reporter abigail doolittle looking at the latest highlights. abigail: for chips, it is a tale of two stories. you have qualcomm having its best day of the year. corvo having the worst day since march of 2020. they put up very solid results, being driven by high-end android. goldman sachs upgraded shares from a buy to a neutral, driven by the android change. corvo, on the other hand, the big apple supplier, their revenue outlook falling a bit short, and it has every thing to do with the supply chain. lots of interesting moves. let's take a look at electronic arts. they put up a really strong quarter. on the other hand, roku down 4.9%. you guessed it, more supply chain issues. then take a look at the arts and crafts maker online, soaring up 13% after they beat in a very big way. adjusted earnings by 56%. some analysts saying the outlook is conservative. however, looks like some of the pandemic shopping is coming to an end. they missed on revenues, customers, and orders. one of the biggest earnings movers on the day, moderna, shares absently plung

already mentioned abigail i think she's why the most sensible, reasonable democrats who is out there who is in virginia. she was quoted in the "new york times" assaying the american people did not hire joe biden to be fdr print that is not what happened here. global pandemic. there are people are reconsidering their positions. what i've always maintained is the meat of what is in these bills is very popular. if you ask people what you think about paid family leave at what he think about universal pre-k? what you think about the federal government taking more of a role in fighting climate change? yes, yes, yes, yes, overwhelmingly popular. when it all becomes a jam together it's hard to see the individual items of the forest. >> possible increase in the deficit to pay for it. ask everyone pretends they are a fiscal hawk when the cable news hit coming up. let us not a fair criticism. >> democrats like to spend a lot more than republicans. >> us why we are more fun. >> not the couple of years requested a quick break. while her home winning elections president biden was in scoco this is

abigail doolittle here with the price action. abigail: bumpy, indeed. here are biggest laggards of the day. best buy down 15%. there are headlines about increased theft biting into their margins. while the stock has been up 40% into this report over the last two months, investors taking chips off the table in a big way. urban outfitters the worst day since march 2020. supply chain eating result. zoom worst day ever going back to 2019, down 19% on growth concerns around the pandemic not helping out zoom. maybe we have seen peak zoom. what is weighing on the markets, the prospect of rising rates not helping out big technology shares. microsoft, nvidia, tesla, alphabet. it makes them look richer. if you are going to see this fed continue the normalization process and rates move up ahead of that, that could be a real headwind for big tech. let's take a look at what rising rates to help. that is all about the banks. take a look at bank of america. up where than 2%. we were just talking with rachel morrison, energy and oil up in a big way. it is not all bad.

maybe democratic congresswoman abigail is right. maybe this spending bill isn't what americans want. she's in a swing district in virginia, so she's dealing with this head on right now. here's what she told the "new york times." she said no one elected him to be fdr, they elected him to be normal and stop the chaos. if she is right, then there is a reason this bill has been months of haggling and fighting and forcing, and that reason would be that because what progressives want may not be what the other 80% of americans want. phil mattingly is live outside the white house. i want to start there with melanie zanona on capitol hill. the speaker has been trying to get a vote tonight. as of now, we understand they still do not have the votes and they still debate over what's actually in the bill. is there any indication of what you have that a massive bill could still happen? >> reporter: i'm sure there are a lot of reporters that want the answer to that question, and a lot of americans as well. what i can tell you is a vote right now i

also in a few moments i'll talk to virginia congresswoman abigail spanberger who represents a major swing district in virginia. we're also following new jersey's governor's race. phil murphy looking to become the first democratic governor to win reelection since 1977. president biden is still overseas. he just wrapped up a speech on green energy at the unite nations climate summit. how he's trying to flex america's leadership muscles this morning. and we know what the jury is going to look like in the trial of kyle rittenhouse. of 20 jurors, there's one person of color. we'll have the latest ahead in kenosha. >>> we start with the governor's race in virginia. steve kornacki is here. he brought along the big board. also with us is katie beck in richmond outside a polling center. steve, what trends are we watching for this hour in virginia? >> the polls show in this basically tied up. the backdrop here, you're seeing that joe biden won virginia by double digits. a couple things we're asking tonight, number one, we're going to be looking up here at the blue counties. right outside washington

well, i mean, the most famous, certainly here in britain there were obviously is abigail's policy. i haven't followed this, but i remember the criticisms made about this that somehow it was patronizing. very interesting how you took the criticism head on about whether your patronizing about working classes or explain that in a sense it's a double double trick and anyone who doesn't see that doesn't really understand what abigail's policy is about. well, i mean, the famous i thought it was the late playwright dennis potter, and he said it was one long snare. well, i mean, the, my main reaction to that in a nutshell is it's not about to play stage play, which we did on television, not actually. so it's not a play about them. it's a play of us, not really sums up what i think about when he's in that we're showing people how they are. there was a film class that is a play about aspiration and superficial values and all of that. but that's not the snare that i mean, if you want to say it's a lemon. taishan of some kind of the same time is generally deemed by most people to be extremely

. >> reporter: one house democrat facing re-election in virginia, abigail spanberger, issuing a warning about biden's sweeping agenda telling "the new york times" nobody elected him to be fdr. they elected him to be normal and stop the chaos. the white house pushing back. >> this is not too much, this is what needs to happen and it should have happened decades ago. >> reporter: republicans worn warning the decline in the president's approval ratings will have a drag on the democrats in the 2022 midterms. >> if you're a democrat and president biden won your seat by 16 points, you're in a competitive race next year. you are no longer safe. >> reporter: now, wolf blitzer, when it comes to whether or not they're having the votes tonight there are still several outstanding issues that they have not ironed out the details on when it comes to immigration and negotiating drug pricing and local tax deductions are critical to getting that final vote to happen and so we are waiting to see what democrats are going to do tonight. though we did hear from debbie dingle on cnn who said democrats are no

biden: abigail is a friend. we had a long talk and she joked and said that she has a picture of roosevelt in her office. i don't pretend to be anyone but joe biden. what i'm trying to do is to do things that i ran on to do. look, people out there are ordinary hard-working americans. they really, really, have been put through the ringer the last couple of years, starting with covid. covid has disrupted every family one way or another, whether it is wearing a mask or losing a family member. 750,000 plus americans dead? 750,000. people are worried. people are also worried, understandably, why is the price of agricultural products when i go to the store higher? for example, if we were all going out and having lunch together and i said, let's ask whoever is at the next table, no matter what restaurant we are in, how do you explain the supply chain? do you think that they would understand what we were talking about? they are smart people. but supply chain. why is everything backed up? it is backed up because the peopl

they need abigail spanberger and joe manchin to agree with bernie sanders and pramila jayapal. water is do not want to see the bills fail. they want to campaign on significant achievements, but inflation concerns, paying for, the talk of a $6 trillion measure earlier this year was a bit out there. jonathan: the reaction yesterday was that senator manchin would have more leverage. that is not what happened. in fact, many were doubling down. lisa: that shows the bifurcated nature of the democratic party. progressives need to speak to the progressives who elected them. those progressives are not going to be happy with them caving it you do wonder at one point the ship goes toward something getting done or if they do not. jonathan: do we get a this week or not? jeff: that members themselves do not seem to know. the official schedule is question mark, question mark, question mark. the chair is skeptical it could happen this week but it could potentially happen as soon as today. they have had manufactured deadlines, but really we cannot point to a specific legislative deadline where

abigail, and i'm nine. what if you come _ your name? abigail, and i'm nine. what if you come dressed - your name? abigail, and i'm nine. what if you come dressed up - your name? abigail, and i'm nine. what if you come dressed up as i what if you come dressed up as today? i what if you come dressed up as toda ? .., what if you come dressed up as toda ? :: , , , what if you come dressed up as toda? ,, today? i came dressed up as a anther. today? i came dressed up as a panther- you _ today? i came dressed up as a panther. you are _ today? i came dressed up as a panther. you are all _ today? i came dressed up as a panther. you are all dressed i today? i came dressed up as a| panther. you are all dressed up toda . i panther. you are all dressed up today- i was — panther. you are all dressed up today. i was important - panther. you are all dressed up today. i was important to - panther. you are all dressed up today. i was important to be i panther. you are all dressed up - today. i was important to be dressed up? i today. i was important to be dressed u - ? ~ tod

abigail: we certainly have lots of names to run through. here are some of the winners on earnings reports. shares of pfizer up 2.3%. they raised their full year vaccine view to $36 billion from 33.5 billion dollars. next year they say vaccine sales may slow, but right now, investors happy about this year. clorox up 0.7%, down from the pandemic levels, but nonetheless beating sales by 7%. under armour up almost 17%, the best day since october 2018. a very strong quarter there. rothwell automation up 5.9%. a record high, the best day since march 2020. they put up a much better profit than expected. as for the laggards, dupont right now is gaining a big way, up 5%. we will be following that story is the day goes on, but they cut the full year view. there must be something in there that investors now like. earlier, those shares were lower. transocean down 1.9%. they had a much larger loss than expected. chegg, the online educator, plunging, down 44%. they are citing weaker enrollment, hopefully as the pandemic is coming to an end. take a look a

abigail doolittle has the details. abigail: the chips and tech outperforming. the bond market is closed. you do not have to worry about yields rising. here you can see some of the top performers the s&p 500. nvidia up 2.2%, getting a 49% price target increase from oppenheimer to $350 per share, head of earnings next week. analysts are bullish. then you see a lot of apple suppliers higher as well. as for some of the individual movers, the top leaders and laggards for the s&p 500, among the leaders, take a look at freeport mac ran. you were just talking about commodities. copper and gold helping freeport trade higher. tapestry up 9.7%, the best day of the year. coach randy doing especially well. 26% growth, they double the buyback. to the downside organon down 6.1%. this was the women's health spun out from merck. perhaps that is why shares are down. disney down 7.1%, off of the lows but the subscriber growth not there in the way folks wanted to see at 2.1 million subscribers. not enough. they missed on adjusted earnings and revenue. as for yesterday's big stock

already some members in swing districts like representative abigail span berger month is from virginia, they are warning about the impacts of this election 2022 when democrats are facing an uphill climb. >> let's talk to someone who just interviewed abigail spanberger recently. the national correspondent for the "new york times". we'll talk about this great piece you have out in just a moment. first, though, what is the lesson here for biden about the path forward on his agenda? . >> well, that there is now greater urgency to get his agenda passed. i think there is a frustration among democrats the last few months they were talking about the intricacies of the sausage making rather than the final product. that is not a great message to convey to voters. the other thing is the voters are in a sour mood. they are tired of covid after 18 months on every level. they want to move past it. and there's real frustration about the price of goods and scarcity of goods. everybody is living this every day. stuff is more expensive and harder to find. that's frustrating them. . >> they have little r

here is abigail doolittle. abigail: outsized moves for some of these storage stocks. take a look at seagate, western digital, both of these stocks up more than 10%. the interesting thing is there's no clear reason why. call volume is strong. as for the worst stocks, hp was downgraded on a week i.t. spending, and then we found out elon musk has sold, bringing the total to $5.9 billion. take a look at ruby and -- at rivian. up 66%. not too shabby for the truck maker. guy: coming up -- alix: coming up, we have a big week ahead. the dubai air show on sunday. boris johnson also speaking. tuesday we get u.s. retail sales. i'm looking forward that, particular in terms of inventory. guy: i will be watching from afar. thursday, u.k. and european cpi. how big of a gap will there be between those numbers? a massive week for retail. target and lowe's earnings. thursday fed speakers. u.k. retail data on friday. a big week on the retail front. your kind of week. alix: totally my kind of week. coming up, jason furman joins "balance of power" with david westin on bloomberg television

abigail doolittle is here with little more. abigail: small gains, but we do have another all-time high, the best winning streak back to 2017. behind it the industrials and materials strong. you can see caterpillar up 3.7%. we also have materials up sharply. united rentals putting in a new all-time high. copper inside of everything that needs to be made relative to roads and infrastructure buildings. not surprisingly, we will see big outperformance for the materials sector. up relative to the s&p 500. strength, strength for anything that has to do with construction. alix: interesting because it shows that good news was not baked in no matter how long we've been talking about it. let's take a look at what is happening the next 24 hours. a lot of fed speakers today. also three-year notes, sale of $56 billion. $120 billion over this week. that will be fun. guy: richard clarida suggesting maybe you do get a rate hike next year. tomorrow we have a conference on diversity. chair powell will be there. that will be worth paying attentio

so thinking about how would abigail adams you know, first lady abigail adams and compared with penelope winslow and how they would react to each other because there's generations between them. the societies, climate change and the women's changing over those years just over those years, there's so much that is my answer. is that it is such a complex period of time and so we really can't come out of it without looking at real details and specifics pretty. >> eric wrote, details and specifics, as a witness in plymouth colony for the wills or in releases for the landfills by her husband or any things prior to her husband's death pretty. >> is a really good question and is great moment when i found a deed from the 1660s, written by penelope and another one, sarah standish, and so this was indeed, it was interesting and i had to do with the bridge and i had a really important piece of infrastructure. so is how women are participating and making these things happen and so because of these activities, and the government activities, which from the home, often had her or other family members wri

abigail doolittle, tell me. abigail: even though there is a holiday ahead, there is something going on. those are declines, at least for the nasdaq. the tech heavy index, along with the socks -- along with the sox, down. we have investors a low bit on edge. the cause, of course, yields. if we go into the bloomberg terminal, we will see that has been the story of the week. we have the 10 year yield rising , now at that 1.66% level. the nasdaq 100 down about 2%, so the pressure we have been talking about all week relative to valuation concerns coming into play as rates rise and the expectation of a more hawkish fed or a fed that is on target to normalize, that has been pressuring stocks. speaking of pressure, we have two retailers taking their worst day ever. the gap, the worst day since 1980, down 22.5%, after the forecast was disappointing. supply chain woes. similar deal for nordstrom, down 29%, the worst day since 1983. hp, we see a pretty solid quarter there. the storage provider will be rewarding next week,

abigail: we have stocks higher. this left continues. the s&p 500 up 0.7%. pfizer on this very encouraging news. this is the end of the pandemic as we know what, up about 7.5%. at one point, up 13%. at that point, the best day ever for pfizer. we also have the russell 2000, that reopening trade outperforming. it is interesting because the nasdaq, which has grown, it is underperforming a little bit. but still up 0.5% and up for a 10th day in a row. the eighth record closing high in a row. what we are looking in white is a nasdaq 100, the longest running streak of the year since last year. below, we are looking at the 10 year yield. as yields go down, that makes the valuation look more attractive. it also makes assets more valuable as discount rates, in. that is the dynamic that we have seen this year. we are certainly seeing it right now. as we take a look at it from a correlation standpoint, we are going to see not surprisingly that as yields have come in so quickly, the correlation between yields and stocks coming down, that has been the story. when it has

abigail doolittle walking through the moves. abigail: at this time yesterday, we had tech more than 1%, the best sector of the day. at the end of the day, down more than 1%. big outflows, especially true for the qqq, detect etf. the ultrashort, highly levered, not as much. we will take a look at a chart in the moment that may suggest that. the vanguard community's of us is, twitter, google, alphabet, those not as big of a decline, but still, overall outflows yesterday on that powell news and the idea that you are going to see normalization of rates, and that could pressure these high valuation stocks. to the point of higher quality tech taking the hit yesterday, that's because high quality tech has largely been up in the way. more recently, the less preferable tech shares have taken a selloff, so perhaps in cement dissipation of yesterday. finally, in terms of the technicals which you know i love for sure, we are ticking a look at the nasdaq 100 and the members above the 50 day moving average, right now on the downside at 56%. t

abigail doolittle joining us. and for her take is kristen bitterly, citibank regional head. what do you make of the diversions of volatility between stocks and bonds and how long equities can keep up the risk on appetite? kristen: what i think is really interesting, you have to look at going into earnings season, what was happening in equity to understand some of the price numbers we are seeing now at the index level. the mark in different shooting ways breaks down and correlation. for example, 54% of the companies in the s&p 500 have seen a peak drawdown in the past 12 months of about 10% or more. close to 20% have a drawdown of around 20% of more -- or more. coming into earnings season in the looking for some of the signals has inflation impacted earnings, have supply disruptions impacted earnings? with minor exceptions, companies have delivered with about 82% meeting earnings estimates to the tune of 11%. it has been a strong earnings story, which is why we are seeing this continued upside overall. guy: what you think that 11% is going to look like next time? higher or lo