I:RUT Nov 2019 1660.000 put

OPR - OPR Delayed Price. Currency in USD
86.79
0.00 (0.00%)
As of 4:04PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close98.70
Open86.78
Bid67.30
Ask75.20
Strike1,660.00
Expire Date2019-11-01
Day's Range86.78 - 86.79
Contract RangeN/A
Volume5
Open InterestN/A
  • Dow Leads Stock Market As Fed, China, Trump Impeachment In Spotlight
    Investor's Business Daily

    Dow Leads Stock Market As Fed, China, Trump Impeachment In Spotlight

    The Dow Jones industrials turned positive midday as Fed Chair Jerome Powell testified and public impeachment hearings for President Trump got underway.

  • Barrons.com

    U.S. Stocks Just Won’t Deliver in the Next Decade, Report Says. It’s Time to Look Overseas.

    Research Affiliates says inflation-adjusted returns for emerging market stocks will be far better than for U.S. shares over the next decade.

  • Small-cap golden cross: Can the Russell 2000 continue to outperform?
    MarketWatch

    Small-cap golden cross: Can the Russell 2000 continue to outperform?

    The Russell’s fifty-day moving average has surpassed its 200-day moving average in a taste of what’s to come, analysts say

  • MarketWatch

    A ‘golden cross’ is forming in a key stock-market index of small-caps

    Things are starting to turn around in a big way for small-capitalization U.S. stocks, as their larger-cap brethren enjoy a string of recent record closes.

  • Stock market edges up to new record close even as Trump says he hasn’t agreed to roll back China tariffs
    MarketWatch

    Stock market edges up to new record close even as Trump says he hasn’t agreed to roll back China tariffs

    U.S. stocks inched up to close at fresh record highs Friday even through President Trump said the administration had yet to agree to roll back import duties on China as part of a “phase-one” trade deal.

  • Wall Street Weekahead: Small-cap shares poised to benefit from shift to value
    Reuters

    Wall Street Weekahead: Small-cap shares poised to benefit from shift to value

    Beleaguered shares of small U.S. companies are set for a bump in performance as value stocks have risen, market analysts say, but small caps could quickly fade again with an economic setback. The small-cap Russell 2000 index has lagged the benchmark S&P 500 for much of 2019 and has yet to escape the bear market it confirmed last December. The Russell's outperformance is in tandem with the S&P 500 Value index , whose 5.2% quarter-to-date climb has outpaced the S&P 500 Growth index's 2.3% advance over the same period.

  • Dow, S&P 500 end at record highs even as conflicts emerge in Washington over new deal with China to cancel tariffs in stages
    MarketWatch

    Dow, S&P 500 end at record highs even as conflicts emerge in Washington over new deal with China to cancel tariffs in stages

    U.S. stocks ended by clinching new records Thursday even after a report of ‘fierce internal’ opposition in Washington has emerged over plans for the U.S. and China to lift each other’s import tariffs in phases

  • Benzinga

    Tariffs In The Morning, Mouse Ears At Night: Trade News Provides Lift Ahead Of Disney

    With earnings season slowly fading, tariffs move back to center stage. After the close today, investors hear the latest from The Walt Disney Co (NYSE: DIS). The stock’s performance slightly trails the S&P 500 Index (SPX) so far this year.

  • Dow Jones Reverses Lower As China Trade Deal News Hits Stock Market
    Investor's Business Daily

    Dow Jones Reverses Lower As China Trade Deal News Hits Stock Market

    The Dow Jones Industrial Average went underwater in the stock market today after a report of a potential delay in a U.S.-China trade deal.

  • Barrons.com

    RealReal Stock Falls as Authentication Concerns Outweigh Great Earnings

    Seventy-five percent of analysts covering the stock have a Buy or equivalent rating, while 25% recommend a Hold. Short interest remains high, at about 90% of its limited IPO float.

  • TheStreet.com

    Market's Ready for a Reset

    Many charts have developed nicely in recent weeks, but now they need to reboot and develop new entry points.

  • A monster bubble may be  forming in the stock market
    Yahoo Finance

    A monster bubble may be forming in the stock market

    And the bull market in stocks rages on.

  • Benzinga

    Earnings Thoughts Turn To Retail Later This Week, But Uber Starts Parade Today

    How do you deliver an encore for a stretch of five days when the Fed lowered rates, Apple Inc. (NASDAQ: AAPL) and Facebook, Inc. (NASDAQ: FB) delivered powerful earnings, and the jobs report showed that consumers continue to be incredibly healthy? All that good news helped send the S&P 500 Index (SPX) and Nasdaq (COMP) to record highs Friday. A possible one emerged early Monday when Bloomberg reported  that U.S. Commerce Secretary Wilbur Ross said licenses for U.S. companies to sell components to China’s Huawei will come “very shortly.” Ross also said the U.S. might not have to slap tariffs on European cars, perhaps a sign of a thaw in that trade relationship.

  • Wall Street's leading stocks reveal investor caution
    Reuters

    Wall Street's leading stocks reveal investor caution

    Wall Street stocks have climbed to record highs as worries over U.S.-China trade relations and the Federal Reserve's monetary policy have receded, but cautious investors have been sticking with technology shares and some defensive stocks over value stocks and more speculative plays such as IPOs. Technology companies are considered capable of earnings growth even if the economy falls into a recession, while defensive shares offer steady dividends. The S&P 500 has gained 22% this year in large part because of the 36% gain in technology shares , which have an outsized impact on the benchmark index.

  • Barrons.com

    A Private-Equity Stock Trade for Regular Investors

    Compass is a holding company that operates like a private-equity firm. The stock’s outlook seems attractive, as does its 6.9% dividend yield.

  • US STOCKS-S&P 500, Nasdaq hit record highs on U.S. jobs report, China data
    Reuters

    US STOCKS-S&P 500, Nasdaq hit record highs on U.S. jobs report, China data

    Wall Street's main indexes climbed on Friday, as concerns over global growth were allayed by largely upbeat U.S. jobs report and data out of China that showed factory activity expanded at its fastest pace in more than two years. The tech-heavy Nasdaq hit a record high for the first time since July, while the benchmark S&P 500 notched its fourth record high this week.

  • Here’s how to tell if the S&P 500’s move into record territory can last
    MarketWatch

    Here’s how to tell if the S&P 500’s move into record territory can last

    Bonk, bonk, bonk … The S&P 500 is now trying for the seventh time to break and stay above its prior all-time high. The purple line in this chart does just that and provides a visual explanation of the S&P 500’s (SPX) failure to break higher. The real question is this: Will the S&P 500 finally break above purple trendline resistance?

  • Fed's 'Good Place' Is No Happy Place for Stocks
    Bloomberg

    Fed's 'Good Place' Is No Happy Place for Stocks

    (Bloomberg Opinion) -- That was quick. It took less than 24 hours for markets to start second-guessing Federal Reserve Chair Jerome Powell, who said on Wednesday that monetary policy is in a “good place” to keep the economy growing moderately. And yet, the S&P 500 Index fell on Thursday, dropping the most in three weeks at one point and indicating doubts among traders that the economy is anywhere but a good place. Sure, the S&P 500 set another new all-time high this week, but broader measures of equities are well below their records. The New York Stock Exchange Composite Index is down 3.68% from its high reached in January 2018, while the Russell 2000 Index is 11.3% below its record set in August 2018. The trigger for the declines Thursday was a Bloomberg News report that  Chinese officials are casting doubts about reaching a comprehensive long-term trade deal with the U.S. even as the two sides get close to signing a “phase one” agreement. That shouldn’t be a total surprise, though, as many traders have speculated that the impeachment hearings against President Donald Trump provide China with little incentive to a broad agreement. What was surprising was the MNI Chicago Business Barometer index, which fell to 43.2 for October from September’s 47.1 when it was forecast to rise to 48. That’s a big miss. Then, the weekly Bloomberg Consumer Comfort Index fell the most in eight years, possibly signaling more moderate household spending approaching the holiday-shopping season. If that wasn’t enough, the Federal Reserve Bank of Atlanta’s widely-follow GDPNow index that aims to track the economy in real time fell to a paltry 1.46% rate.It’s hard to criticize Powell. All else being equal, it’s better for business, consumer and investor confidence to have an optimistic central banker than one who is pessimistic. That said, it’s also good to have a central banker who doesn’t seem out of touch with reality. We’ll find out soon enough where Powell stands, with a pair of high-level economic data points scheduled to be released Friday in the form of the monthly jobs report and the Institute for Supply Management’s manufacturing index.HOW LONG  OF A PAUSE?The bond market sure isn’t acting like the bar to further rate cuts is very high. After falling 4 basis points on Wednesday, yields on benchmark two-year Treasury notes dropped an additional 7 basis points to 1.53% on Thursday. The probability of another rate reduction happening at the central bank’s next policy meeting in December stands at a not-so-insignificant 30%, which is higher than where it was a month ago, according to data compiled by Bloomberg. Plus, at about 16 basis points, the gap between two- and 10-year yields is lower now than where it was before the Fed started cutting rates at the end of July. If the so-called yield curve really is a reflection of where the economy is headed, then the flattening is a sign that the bond market believes that the Fed’s three rate cuts have done nothing to spark growth. “We do not think the worst of the downside risks for the Fed have passed yet,” said Wells Fargo Securities strategist Erik Nelson.STOCKS HAVE A NEW LEADERThe U.S. economy has been described as the cleanest of the dirty shirts. In other words, while growth has slowed rapidly in the U.S., it’s still a lot better than most anywhere else in the developed world. If the recent performance of the global stock market is any indication, that narrative may be about to change. In late trading Thursday, the MSCI All-Country World Index excluding the U.S. was up 3.35% for the month of October, while the MSCI USA Index was up just 2.06%. It’s the greatest outperformance by the non-U.S. gauge since December. And while the latest monthly sentiment indexes from State Street Global Markets released Wednesday showed investors’ attitudes toward U.S. equities are languishing near all-time lows, those toward European stocks have rebounded and are approaching record highs. In that sense, the global stock market may be signaling that it doesn’t expect U.S. economic growth to get much worse, but rather growth in the rest of the world may have stopped slowing and will catch up with the U.S.RAW MATERIALS ARE HOPPINGCommodities are another market that may be signaling that the outlook for the global economy isn’t all that bad. The Bloomberg Commodity Index posted its first back-to-back monthly increase in September and October since January and February. The gains have been broad-based, with the energy, agriculture and industrial metals sectors all rising for the month. The World Bank isn’t too optimistic the gains will continue. The organization on Tuesday cut its price forecast for commodities, saying slower global growth will sap demand for energy, metals and crops. “Expectations for global growth both for 2019 and 2020 have been revised down substantially, including in emerging market and developing economies,” the World Bank said in the report. To be sure, such organizations don’t have the greatest track records in making forecasts, often reacting to the data instead of anticipating trends the way markets do.SHADOW ECONOMY SHRINKSIt didn’t get much attention, but the International Monetary Fund came out with a blog post this week looking at the “global informal”  or “shadow” economy. This is activity that falls outside the regulated economy and tax system, such as street vending or unregistered taxi drivers. The author, IMF senior economist Thomas Alexander, points out that this part of the economy is hard to measure since participants usually operate on a small scale. Nevertheless, Alexander concludes that the informal economy has steadily shrunk as a percentage of gross domestic product in every part of the world since the early 1990s. In the OECD countries, it’s down to about 15% from 20% almost 30 years ago. The glass-half-full take is that this means the global economy is structurally better, given that the informal economy is generally associated with low productivity, poverty, high unemployment and slower growth. The downside is that it provides opportunities to those who might not otherwise find employment. So, fewer opportunities in this part of the economy may make it harder for many to escape poverty.TEA LEAVESThe Labor Department is expected Friday to say the U.S. economy added 85,000 jobs in October, down from 136,000 in September, according to the median estimate of economists surveyed by Bloomberg. The reality, though, is that the actual results have just as much chance as exceeding the median estimate as falling below. The top-ranked interest-rate strategists at BMO Capital Markets pointed out in a research note Thursday that five proxies they use to track the health of the labor market are positive, while five are negative. As they explain, the Fed’s third rate cut since July on Wednesday wasn’t meant “to offset weakness in the labor market but rather to get ahead of any cracks that may appear in coming months. As such, we expect Friday’s payrolls report to confirm that a stable job market continued through October, even if the trade war is beginning to impede hiring across sectors.” But if the labor market continues to slow, it would put pressure on the Fed to cut rates again in December, despite Powell signaling that policy makers are unlikely to do so.DON’T MISS A Bright Spot for the U.S. Economy? This Is It: Robert Burgess Futures Are Pulling Cryptos Out of the Dark: Aaron Brown Powell Will Need a Horror Show to Cut Again: Authers' Newsletter The Federal Reserve Puts Monetary Policy on Pause: Editorial Lagarde’s Task Is to Lead a Cultural Revolution: EditorialTo contact the author of this story: Robert Burgess at bburgess@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • These Are the Charts That Scare Wall Street
    Bloomberg

    These Are the Charts That Scare Wall Street

    (Bloomberg) -- Halloween’s around the corner, with investors treated to fresh all-time highs in U.S. stocks and nary a trick in sight. But as any scary movie aficionado will tell you, the most formidable frights begin when you’re the most complacent.This year’s compilation of Wall Street’s chilling charts highlights concern about a debt-laden Corporate America, eerie developments in volatility markets and the ills in industrial sectors of the economy. Here are the ghoulies that petrify the professionals.Jill Carey Hall, head of U.S. SMID-cap strategy at Bank of America Merrill Lynch:Quality has grown increasingly scarce within small caps: the proportion of non-earners within the Russell 2000 has climbed to nearly 30% -- a level typically only seen during recessions. (One key industry driver: the Biotech IPO boom, where the addition of newer/early-stage Biotech companies has increasingly driven up the proportion of non-earners. The lack of profitability for many Energy companies has been another big driver). High quality companies tend to outperform in the current phase of the cycle -- when the U.S. is in a soft patch or downturn -- and in periods of elevated volatility.Jon Hill, vice president of U.S. rates strategy at BMO Capital Markets:Going back to the 1970s, CEO confidence hasn’t been this low without the U.S. either about to enter, or already in a recession. If corporate leadership pulls back on investment and/or hiring, that alone could be enough to trip us into contraction. More worrisome is that borrowing costs being too high are notably absent from the cited headwinds -- “Tariffs and trade issues, coupled with expectations of moderating global growth” -- as a result, the impact of incrementally reducing interest rates may be insufficient to stem the cynical tide.Kathryn Koch, co-head of Goldman Sachs Asset Management’s fundamental equity business:According to Climate Action Tracker, current government commitments and projections for carbon reduction fall 30 gigatons short of reaching the Paris agreement targets. In order to potentially reach these targets, we believe the corporate sector will need to provide innovative solutions to the challenges the planet faces today. Those corporates that can provide innovation solutions should benefit from secular growth as the focus on environmental sustainability continues to increase.Maxwell Grinacoff, derivatives and quantitative strategist at Macro Risk Advisors:FRAGILE: Handle with Care – Looking at just top-line realized volatility gives a simplified picture of actual market fragility. In statistics, the frequency of unusual moves is measured via kurtosis. In the below chart, we calculate the 1Y kurtosis of S&P 500 daily returns, attempting to measure the frequency of tail moves and quantify the ‘fragility’ of the index by year over the past two decades.We note that S&P 500 fragility has been steadily increasing over the past 5Y and is on pace to meet/possibly surpass last year’s metrics (think drawdowns like February and October-December 2018). Even in the doldrums of 2017, a 40 basis point move dictated a one standard deviation move in the index (based on an average 20-day realized volatility of sub-7%). That said, a 50-100 basis point move in the S&P was considered outsized at the time! Worth noting that 2017 witnessed >0.50% daily returns ~20% of the year.Patrick Hennessy, head trader at IPS Strategic Capital:Taking a look at the bigger picture the trend higher in the S&P 500 remains intact. The primary difference between 2016/2017 and the last two years is the change in trend in realized and implied volatility. All three have trended higher since August of 2017 due to the increasingly volatile behavior of the S&P 500. Historically, it’s more likely to see this dynamic near markets tops than market bottoms.Megan Miller, portfolio manager at Analytic Investors:The market’s “Fear of Fear” is increasing and appears to be in a new regime. CBOE’s VVIX Index provides the industry with a useful measure of volatility of volatility or “fear of fear.” The value represents the implied volatility of near-term VIX options. 2018’s “Volpocalypse” was peak “vol of vol” with the VVIX closing at 180%. What jumps out at me, though, is that the VVIX reached the top quartile in the last five years, with the largest frequency in 2018. However, the top quartile of the original fear gauge, the VIX Index, occurred mostly during the global financial crisis. If you compare the VVIX with VIX, you see almost a mirror image of extremes. The average “vol of vol” of the last five years is higher, yielding a higher VVIX regime than in earlier years. The opposite is true for VIX.We hypothesize increased volatility of volatility indicates market fragility. If that’s the case, then are we in a latent volatility regime on the verge of cracking?Victor Lin, equity trading strategy at Credit Suisse:Despite the S&P 500 being back near record highs, market depth remains extremely shallow. If that wasn’t concerning enough, depth is significantly lower than previous years at similar levels of the VIX, reflecting increased sensitivity to risk. This usually makes it more difficult to trade in size and also potentially leaves the market more susceptible to extreme moves.Ben Emons, managing director of macro strategy at Medley Global Advisors:Mario Draghi’s farewell bid has left the Eurozone near deflation risks. Despite three rounds of quantitative easing, markets price in Europe will have inflation below 1% for the next decade. The U.S. fortunately has higher inflation and the Fed remains confident the inflation target will be met. That said, inflation swap markets see this differently.The premium of the inflation “cap” struck at 2% is just 26 basis points higher than the inflation “floor” struck at 0%. This says, inflation markets see little scope for the U.S. to reach the target, with possible downside risks of deflation. More worrisome is the difference between U.S. inflation caps and floors has moved closer to Europe, which sees only 6 basis points difference between caps and floors. This signals inflation markets expect neither the Fed nor the ECB will be able to fend off the risk of deflation sometime in the next decade.Subadra Rajappa, head of U.S. rates strategy at Societe Generale:Both market-based and survey-based measures of inflation are at or near the lowest level in two decades. Secular trends like globalization and technological efficiencies, the so-called “Amazon effect”, continue to keep a lid inflation. Rate cuts thus far have had little impact on inflation expectations. Conventional monetary policy seem inadequate to address this issue. What can the Fed do to reverse the trend? Lower for longer, inflation averaging, price-level targeting are ideas, will any work?George Pearkes, macro strategist at Bespoke Investment Group:In the most recent weekly data reported by the EIA, the U.S. imported only about 2.2 million barrels of crude per day, net of exports. The rise of shale has meant that fewer U.S. dollars are flowing abroad in exchange for crude. Add on what might happen as electric vehicle deployment ramps up, and the prospects for a net crude trade surplus in the near future mean one major source of dollar liquidity for resource-heavy global markets is drying up.Robert C. King, senior economist at The Jerome Levy Forecasting Center:One cause for worry is falling earnings, which will make already elevated leverage ratios look much worse. The third-quarter earnings season may be an important reality check for investors who have been told all year that a rebound in earnings is just around the corner.Erin Browne, portfolio manager at Pimco:The deterioration in the corporate credit quality year-to-date highlights a vulnerability in markets and is a reason why PIMCO remains defensive on broader corporate credit. Leveraged loans, for example, are one corner of the market showing cracks, with corporate income growth now expected to be negative, marking the first time since 2016, while debt levels are high, particularly among weaker credits. Lower-rated high-yield bonds are showing similar pressures.While historically, leveraged loans have offered recovery rates considerably higher than high yield bonds in default, investor protections for loans are much weaker today than they were at the peak of the last credit cycle in 2007 and loan-only issuance without high yield bond cushion has exploded. For this reason, we expect loan recoveries to be lower than historical averages, but still higher than high yield during the next cycle. In addition, ratings downgrades, slack in demand, continued deterioration amongst the weakest credits, and a preference from buyers for higher quality issues, all make loans, especially the weaker, loan only issues, one of the most vulnerable segments of corporate credit into a late cycle macro environment. I am watching whether the weakness in the distressed B/CCC credits starts impacting higher rated credit issues or adjacent credit markets.David Schawel, chief investment officer at Family Management Corporation:Net leverage for the median stock is at an all time high. If earnings growth continues to slow, we could see even more pressure on corporate balance sheets which have been stretched of late.Alicia Levine, chief strategist at BNY Mellon Investment Management:U.S. high yield spread differential to investment grade is near the tightest level ever, suggesting heightened market complacency that resembles historical pre-crisis bubbles.Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets:One chart that we consider to be a clear negative or overhang for the stock market at the moment is our valuation model. This model was 1.1 standard deviations above its long-term average as of mid-October, well above average and close to the peaks of the current cycle. Each cycle tends to have a different ceiling. The ceiling of the current cycle is a bit above the pre-financial Crisis ceiling, and a bit below the tech bubble ceiling. This model is essentially bumping up against the highs of April/June 2019, August/September 2018, and 4Q17/Jan 2018. It’s also a range historically associated with 12 month forward returns in the S&P 500 in the low single digits.The blue line on the chart summarizes a number of different valuation metrics, both market cap weighted multiples (more representative of the broader market) and median multiples (more representative of the opportunity set of portfolio managers and sell-side analysts). It’s comprised of things like P/E, but also includes things like price to sales, price to book, price to operating cash flow, and EV to EBITDA, so it gives you a sense of how stocks and the broader market look across a variety of valuation multiples.It’s telling us the U.S. equity market is very overvalued right now, and at a level that it’s simply not been able to break through.Conor Sen, portfolio manager at New River InvestmentsWith factor investing being all the rage, people should be wary about what their factor ETF’s hold. Someone owning the iShares momentum factor ETF, MTUM, might think they’re getting exposure to hot growth stocks. But the 1 holding of MTUM right now is Procter & Gamble, which trades at a historically high valuation on an enterprise value to sales basis. In momentum investing, all that matters is price movement. Defensive stocks like Procter & Gamble have attracted interest as investors look for stability in this tumultuous macro environment and with interest rates being so low. Crowding into defensive stocks might not turn out so well for momentum investors if either the global growth environment improves, causing interest rates to rise, or if those defensive stocks end up reporting disappointing earnings.Neil Dutta, head of U.S. economic research at Renaissance Macro Research:The most worrisome chart is the personal saving rate. But not for the growth bulls, for the bears. The saving rate is elevated as it is despite pretty healthy consumption growth in recent quarters. Assuming the negative news flow clears up and consumers draw down their precautionary savings, consumption will surge and the bearish economic prognosticators will have to move onto something else.Joseph LaVorgna, chief economist for the Americas at Natixis:The financial market (stocks and bonds) is at a near record-size relative to the broader economy. The tail now wags the dog, as the Powell Put is alive and well.Peter Tchir, head of macro strategy at Academy Securities:Yes, lots of other things have influenced markets, but it is impossible to argue that in 2019 -- at least four times, between balance sheet adjustments and talk of easing -- the Fed didn’t play a major role not only in propping the market up, but specifically stepping in at almost any sign of weakness. How long can that go on?I expect a neutral position from the Fed this week and that doves will be thoroughly disappointed. Since each dovish action from the Fed seems to have less impact on markets, that is real cause for concern, or, in the spirit of Halloween, it is scary.James Price, director of capital markets products at Richardson GMP:Canadian households’ debt-service ratio hits all-time highs despite very low borrowing rates. In particular, the last three quarters of measurement have continued higher despite rates dropping since the beginning of Q4/2018.This chart suggests that, given low interest rates (sub 2% for most of the last 5 years) that debt service costs have strongly accelerated recently, with the bottom panel showing the portion of that payment going to pay down principal has started to decline…quickly. Historically, the Principal/Interest ratio has a strong negative correlation to yields (-0.90 over 30 years), but that correlation has turned positive over the past two years.This shows exhaustion in Canadians’ ability to take on more debt despite the past year of declining rates.The concern is that small changes in employment rates could have an outsized impact in the ability to make mortgage payments, and lower yields might not help. Since we Canadians do not like to default on our mortgages, pressure on investment properties and other spending first is highly likely.Jay Pelosky, chief investment officer and co-founder of TPW Investment Management:Given the manufacturing slowdown, as evidenced by the ISM under 50, the U.S. economy is very dependent on continued consumer health and spending. The chart below shows real consumer concern about the future vs the current pretty good star of affairs (record low unemployment, decent wage gains, etc). Should those concerns lead to a pullback in 2020 consumer spending the U.S. economy could weaken further regardless of whether the Fed continues to cut rates or not. This would challenge the forecasted 2020 S&P 10% EPS growth and thus the potential for higher U.S. stock prices.Benn Eifert, chief investment officer at QVR Advisors:This is probably boring and repetitive, but I find the below chart scarier than any charts I see from volatility land.Gina Martin Adams, chief equity strategist Bloomberg Intelligence:I’d just put up a picture of Trump’s twitter account, especially something where he is bashing the Fed, or tweeting out a tariff, or a picture of Elizabeth Warren campaigning. It seems the distractions of Washington are Wall Street’s greatest fears this year.(Updates with additional chart.)To contact the reporter on this story: Luke Kawa in New York at lkawa@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Yahoo Finance Video

    Yahoo Finance LIVE - Nov 11

    Executives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.

  • Bloomberg Market Wrap 11/6: Russell 2000, Qualcomm, Nu Skin
    Bloomberg

    Bloomberg Market Wrap 11/6: Russell 2000, Qualcomm, Nu Skin

    Nov.06 -- Bloomberg market reporters take a deep dive into all of today's action.

  • Russell 2000 lags behind market rally
    Yahoo Finance Video

    Russell 2000 lags behind market rally

    Needham Growth Fund Portfolio Manager Chris Retzler joins Canaccord Genuity Senior Managing Director Tony Dwyer and Yahoo Finance’s Adam Shapiro, Julie Hyman, Emily McCormick to discuss the markets on On The Move.

  • Yahoo Finance LIVE - Nov 07
    Yahoo Finance Video

    Yahoo Finance LIVE - Nov 07

    Executives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.