Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w
Welcome to squawk alley. Im Carl Quintanilla live with Morgan Brennan at post 9 of the New York Stock Exchange. Jon fortt has the morning off. The markets have lost some gains as all eyes are turning to jackson hole Steve Liesman is there as the feds twoday annual economic symposium kicks off. Hey, steve hey, carl this is from our icon. But the september fed fund futures has now flipped from a small probability of a 50 basis point cut in september to a small probability that the fed remains on old just to be clear, a 98 probability that the fed does cut by a quarter, but it was like a 2 probability of a fed now its a 2 cut that the fed remains on hold in september maybe some of that coming from the sort of hawkish talk or less dovish talk weve gotten from two Federal Reserve officials here in jackson hole so far. I say so far, because theres a lot yet to come. Ill get to that in a second before we get to that, i want to show all of this sort of emphasizes the challenge of Federal Reser
As it pushes to make its own semiconductors. How this could be a game changer for future gadgets. Shares of facebook and google dropping on the heels of another president ial rant against u. S. Social Media Companies. Here is what President Trump told foxbusiness. We should be suing google and facebook, and perhaps we will, ok . To talk more about the reaction, lets go to our reporter in new york. Shares did react to the president s remarks. What happened . Absolutely they did. You look at facebook and google, you just saw the share prices. Down 0. 6 , so not anything huge. Minimal still pretty minimal, but we clearly saw before markets opened the stocks react off these headlines. He did also attack twitter. Twitter rose today. This harkens back to the conversation we have been having over antitrust laws. Everything we have heard over the doj investigation, ftc investigation, this is something here to stay. We are probably going to be hearing more about this, not just in the democratic
And a. I. Strategy. Ceo andy jassy saying surprise from the generative a. I. Business. Inflation seems to be cooling. The pace of inflation came in a 3. 7 for the month of september. Were keeping an eye on the auto industry, mean white the uaw reportedly delivering a new offer to gm. Amazon is up nicely after reporting quarterly results. Ceo andy jassy saying hes been surprised by the companys growth in a. I. You look at the very substantial, gigantic, new generative a. I. Opportunity, which i believe will be tens of billions of revenue for aws in the next several years, i think we have a unique and brought approach thats really resonating with customers. You can see it, you know, with the customers i mentioned that are using us, starting with the workloads for generative a. I i can see it also, the growth rate for us is very fast of course, if they can get ahold of the chips they need, give me your take on the quarter. Okay. So you go through what went wrong with alphabet which was di
Ivy zelman is here to talk about that. Instacart raising its price after the successful arm ipo. On stocks, we are weaker and the losses are accelerating in the last few moments. Were down a percent on the s p, putting in jeopardy the gains for the week. The nasdaqs down about 1. 4 . Whats working today is a little more defensive. Its the health care and Utilities Group which is bucking the overall trend, higher stocks, on the back of a little better Economic Data. What we got this morning, Industrial Production was better, but we did have Lower Consumer confidence from university of michigan. Interesting to see us lose some ground even as yields are coming down as well. Lets begin in michigan as the uaw goes on strike. Our phil lebeau is on the ground with the latest. Good morning again, phil. Good morning, carl. I have a lot of people asking me just how much of an impact this strike is having on production and the availability of vehicles. Think about this. 15 of the u. S. Production