Yesterday. David time for the morning brief. Apart from the all important fed a. M. Steven 8 00 mnuchin speaks at the independent Community Bankers capital summit. We will get adp Employment Data, the consensus for 185,000 jobs added last month. After the bell, it is earnings watch. Facebook and tesla will be reporting. Alix decision day for the Federal Reserve, the bloomberg surprise index starting to roll over. Sales, week core cpi, week march job numbers. Mckee. Shington, michael how does the fed a dress the weaker data we have seen . Michael they are going to have to mention the fact that the economy slowed in the First Quarter but they do not want to take june off the table and do not believe this will be a continuing problem so they will probably talk about it being transitory. They may mention seasonality problems we had. Tractornta fed, gdp now comes up close to the average gdp numbers we get, shows First Quarters have been terrible for the last couple of years, but look at tha
Happen because the journal story last night, also about the huge i think its 7 or 6 of the market are now owned by etfs, which is great until its not. There is a growing group of folks who are thinking if were just buying stocks en masse, will any reversal like the qqq, 100 stocks effectively. But five stocksmake up 40 of the index. So thats why people say, why do you talk about these stocks all the time because their weight matters. Theyre so powerful within the index. Earlier today, i was looking at the s p 500, there were probably only 75 stocks that were positive on the day. By the way, the last down month for nasdaq was october of last year for the s p and dow. It was sooner than i thought it was actually back in march. We should appointment out, this isnt a complete selloff this is a day very much about rotation youve got correct. Selloffs in the momentum stocks, technology in particular a lot of those stocks are not returning to levels that are frightping at this point yet but p
Yes, this is the last hour of trading on this shortened market day and there are fireworks in the stock market a pretty good start to the second half of the year, right extraordinary we are up 200 points just a second ago alltime intraday high for the dow and alltime intraday high for the transports look at financials and Energy Leading the way, some of the laggards for this year and Tom Mcclellan will tell us later why he thinks the bull run is forar from over a new report this morning says President Trumps chief strategist, steve bannon, is pushing for a tax hike for the upper income bracket well get you those details. Youre on a roll. Do you want me to pick this up tesla, yes, its true the model 3 is on its way and the stock market was higher earlier. Its given up many of the gains here ford and General Motors are powering higher after their auto Sales Numbers came out well tell you whats behind all these moves, coming up in fact, tesla says it looks like it wants to turn positive o
We split the panels up so that this panel will address the papers on u. S. And chinese strategy and interests in the asiapacific region. And also u. S. China military issues. And the next panel will cover economics, global issues and politics. Scott kennedy will chair that session. We had a number of participants who helped write the papers or who joined us in study groups to review the papers. So this is a representative group, its clearly not everyone who was involved, but some of the key authors in each of the papers were going to address in the panels, body glazer, my colleague at css, senior director of the China Project will talk about the asiapacific papers. Were going to ask the panelists not to summarize the papers but to identify between the american and chinese papers the issues of convergence, divergence and some recommendations. My friend will present on the asiapacific strategy after bonnie. Then well shift to the military relationship, David Finkelstein and the member fr