 News Network. Update. Welcome to another news update at 2 p.m. with me, David White. What do we have going on today? Well, certainly a market that was down and out at the open only to come back. I would look at this in the Wyckoff method of needing a close above 3636. We're up 2.4% on the day after being down 2% right after the open. That was on some fairly hot numbers on inflation. I think we've had a few things going on today that we can't confirm. Probably the Treasury doing a lot in the dollar. I have that up right now. But certainly not too far after that. There was a lot of action and there's a couple of ways you can explain it. But at the moment my belief is that finally we had some people stepping in. It probably wasn't the FOMC but Treasury, any of these other agencies can go in. Market looked like it was going to blow itself apart and of course it came back. We've been talking on the show about how it certainly looked like a lot of people were betting on the Fed blanking. I see no evidence of that at the moment. One of the other things that make us think that the market turned around this morning was a fairly big pop-down by Taiwan Semi-conductor. It was down like 5 or 6%. It's up about 5% now on the day. Probably the best earnings I've ever seen out of Taiwan Semi. And we've got some other earnings we're going to talk about in the hour that follows. But earnings actually fairly good. We'll be back in a minute.