Time now for global exchange, where we bring you todays market moving news from all around the world, from hong kong to berlin, to london, sao paulo, and new york. Our bloomberg voices are on the ground with this mornings top stories. , china said it would sanction and american organizations close hong kongs port. Joining me from hong kong, and the current hong kong, enda curran. Give us the latest. Enda what they are doing is targeting a couple of groups, including Human Rights Watch and freedom house, for sanctions, and putting a stop on u. S. Navy ships coming to hong kong. But we dont really have many more details beyond that. We know that there are already some restrictions on ngos operating within china anyway, but the big take away is they steered clear of any economic issues, anything that would upset the trade talks, which are , by all accounts, still on track. There was better news on chinas economy today. But the official and private sector pmis pointing in the right directi
Good afternoon, whatever, im charles payne, this is money. Is this what soft landing looks like . The question really does wall street even care . Will it change its mind. Has the general malaise overall malaise in this nation created something in the financial world akin to nihilism . Well talk about that. Where does the fed go from here. We have fed watcher Danielle Dimartino booth jay powell, ha he has a tougher task than 24 hours ago. Before you give up the hope of the American Dream folks, katrina cam pens joins me. It is harder and harder but not i am possible. All that and so much more on making money. Charles so this morning we saw what amounts to backtoback Economic Data come in exactly the opposite of what wall street expected and what investors actually hoped for. Im talking of course the ppi number, Producer Price index. That is on inflation. That was hotter than consensus. There were retail sales which increased less than expected. Here is really what is interesting also.
Im tyler mathisen. Sue has the evening off. Drama in d. C. Republican effort to the repeal and replace obamacare is dead. So it seems is a plan to repeal it now and replace it later. Three moderate gop senators, susan clinollins said they woul oppose any vote to proceed with an immediate repeal of the law and the president is not happy. Im search disappointed for seven years ive been hearing repeal and replace from congress and ive been hearing it loud and strong. When we finally get a chance to repeal and replace, they dont take advantage of it. Thats disappointing. Im very, i would say, disappointed in what took place. It will go on and well win. Were going to win on taxes. Were going to win on infrastructure and a lot of other things. Health insurance stocks were mostly lower on this new wave of uncertainty. United health care reported a Strong Quarter and bucked the trend. With health care an ever growing part of the u. S. Economy, the collapse of the Health Care Bill was felt in t
Using a stock tool that says, yes. Me list yashgs after sulissa go out on a shopping spree. But if you choose wisely, there could be some money to be made. Now using a quantitative tool looks at market action. We looked at past occurrences when the retail etf has fallen 7 or more within one month as it just has. That has happened 12 times since 2009. Now no clear signal for the xrt itself about half the time it continues to lose ground. But we did find some good individual stocks. Now as for macys, nordstrom and jcpenney, they only post rebound gains of 67 of the time. But when they do rebound, theyre good for 2 and 3 average returns sprerespectivel. There are special i dty and dist names. The names are more reliable bouncing back one week after the xrt loses p 7 or more within one month. So look for names like tjx and ross stores. Head over to cnbc pro for more on other parts of the Consumer Sector that tend to bounce back. All right. Thank you for the data dive. Lets get to bob pisan
A roadmap continues with the retail wreck continuing, gap, foot locker and ross stores all on the move after earnings. And more on the latest on the disappearance of egyptair flight. First up, stocks are poised to open higher a day after the s p touched a twomonth low on concerns the fed might hike rates next month, or in july. The dow and the s p on track for its fourth consecutive weekly loss, thats the first such streak since october of 14. The nasdaq on pace for its first fiveweek streak in the red since 2012. Yeah. Interesting to put in perspective the month weve had. Money pouring out of the market worse actually, these guys talking on squawk box worse than 2008 and 2009. People concerned its not just one hike, its multiple hikes. I dont know how that conversation comes back on. Thats scaring people. Earnings just soso. Geez, its just kind of a subpar picture, i think. Really . Even with the economy essentially the fed saying its essentially Strong Enough to handle this. Why is t