About their role there seems to be some debate about this good morning, welcome to squawk in the street im carl cantonia. At the cnbc, they are delivering at the conference in new york city that was sec jay clayton as you saw. Moments from now, kobe bryant, the basketball legend quickly becoming an investing legend we will talk money in sports, futures in a tirade full of economic data. Of course, delivering alpha. The big story today, a number of heavy hitters at the investors summit a pretty good discussion about the nature of our Capital Markets these days yeah, i mean, look, one of the things we are all trying to figure out is in relation whats going on with the fed, whats going on with business as a force of change. Thats something that andrew is bringing up. Bring up at the Business Roundtable which is very interesting. Its a month or so already right things have Securities Exchange commissioned. Im curious to hear what mr. Claytop had to say. Thats what people buzz with me to fi
Joining us for the entire hour is dan nathan, founder of risk reversal advisers. Welcome back to you. Sara. So theres something youre looking at about the s p 3000 level and fed meetings if you go pack to july 31st, the last time that the fed met, they cut a quarter basis points Interest Rates the first cut in ten years and the stock market was above 3,000. And and it wasnt until the trump tweet the next day that we broke down and stayed down all of augusts here we are now, expectations are for another cut, and it seems like the s p has really paused again at the same level, about 3,000. Weve got lots to discuss with dan, but lets drill down on the big stories were watching today bob pisani is tracking the big reversal leslie picker has details. Mike santoli has a special market dashboard ahead of fedexs earnings which hit after the bell and well have for you here on closing bell. A big day in oil. Oil dropped right after the open on a reuters story that saudis oil output would be full
Crisis. Mark zuckerberg making rounds today on capitol hill. Meeting there with lawmakers amid growing calls to break up big names in silicon valley. Facebook ceo sitting down with senator tom cotton right now. Well bring you breaking headlines that come this hour. Security concerns at the airport. The new move has some critics sounding the alarm, what it all means for you and your familys safety. Melissa fox Business Team coverage. Edward lawrence at white house. Gerri willis at the new york stock exchange, phil flynn watching action in oil at the cme. Lets start to edward. Reporter melissa, trade optimism is happening here. Junior level talks happening with the chinese. This will set up the main event early in october when the two heads of the trade delegation meet, but this could indicate if there is progress for the talks. Wilbur ross says the chinese must show us something this week. If they arent prepared to give on anything were not going to get anywhere. Right, right. Remember
We could have had a 0. 4 move on the european stock markets development we saw over the weekend. The german tenyear yield move reasonably small. We are still trying to figure out what this means in the longer term implications. It is a story that has the potential to upset the Global Economy. It has the potential to upset the gulf region. Lets talk about the details of the strike we saw in saudi arabia over the weekend. We have had more reports coming out related to who may have been responsible. How long does it take to fix . Lets ask that question now. Really quiet. E we are not getting much from them at this point. The markets are left with the idea that it could be a while before they get this back online. The first thing you would want to hear as an investor is for the ceo to get out in front after the attack. They said they would update us within 48 hours. Were still waiting on that. People are saying they expect this to Linger Longer in terms of getting full capacity back. Produ
Slumping and Global Growth concerns back in the headlines, as chinas Economic Data comes in weaker. Joining us for the entire hour, final hour of trade is keith bliss, managing partner and ceo of iq capital usa. Keith, welcome thank you very much you and i were just chatting about the fact that you were noting that youre kind of surprised that the stock market isnt down even worse. I think its really resilient and speaks to the trend weve been seeing throughout the last 30 days for sure and ive been a big believer that well continue to trend higher throughout the rest of the year but think of Something Like this that happened 45 years ago, when we did have real supply concerns and the kingdom of saudi arabia was the big player in the market now its much more dispersed we were not a big player. At all. For a variety of reasons i am grateful and pleased at the resilience of the equity market on news like this today. Even some energyimporting nations like china, for example, you didnt see