Dead or has it just moved . The new claim that our neighbors to the north might be better off. It is friday, tgif, august 30th. Fbn a. M. Starts right now. Twisting, twisting, everybodys feeling great. Theyre twisting, twisting, theyre twisting the night away. Heres a man in evening clothes. How he got here, i dont know. Lauren welcome to fbn a. M. Good morning. Im lauren simonetti. Cheryl good morning. Im cheryl casone. Lauren lets take a look at how your money is moving this friday. Once again, optimism on wall street but not enough to erase the first down month for all three major averages since may. Cheryl we continue to watch the bond market for signs of a potential recession. The yield on the 10 year is higher by 3 basis points. Optimism for stocks, not so much for bonds. The yield at 1. 53 . Lauren the price of oil is down 43cents. Cheryl and stocks in asia closing out the week as you can see on your screen mixed with the shanghai composite slightly down. The Chinese Government
The 10 year yield has just cracked 50. Twostens spread come as you might imagine, 4 basis points. Altria morris and looking at a merger. Phillip morris owners less pleased. London is andrew sheets, chief cross asset strategist at morgan stanley. Andrew, thanks for joining. Since we last spoke to you, weve had many more headlines, but how have we actually moved the needle on trade talks or any kind of agreement . Andrew im not sure that we have, vonnie. I think we are still unfortunately in the place that we were a week and a month ago where there is still quite a bit of uncertainty. You still have this impending deadline on september 1, with more tariffs that are going to go in, and still conflicting signs over what the path will be. I think the most likely path still being escalation. Directlyts of tariffs on growth and uncertainty, Holding Back Business investment, unfortunately are still there. Vonnie andrew, we just cracked 1. 50 on the 10 year yield. Im curious whether we see some
Of the berlin market if the rental cap goes into effect. In the u. S. , its been a not uneventful day so far. The s p at 2927. That belies a lot of movement under the surface, with ulta beauty down 28 . Its been a great month for the homebuilders. Lowes and home depot higher. Target up 25 this month. The 10 year yield right now is just about a basis point lower in the session at 1. 50 . 99 rightose to hitting now on the dollar index. We are joined now by james bevan, ccla Investment Management cio, and london. Brexit is probably first and foremost on your mind in the world, if not in your investment strategy. What do you anticipate will happen next week when Parliament Reconvenes . James we are going to hear a lot of noise and a lot of heat generated. When all is said and done, there is no real shared enthusiasm among those who dont share mr. Johnsons preference for shifting forward, and there are a lot of people who say mr. Johnson is really about playing an advanced game of chicken w
Lower on concerns about the health of the u. S. Economy and a number of new bearish notes from new wall street firms hurts the sentiment further. Lets check in on the biggest losers in the dow, which as morgan just said, is down sharply, near session lows, which were 462 points. Its currently down 410 points, as you can see, pfizer down 4 Goldman Sachs down 2. 7 cat down healthily 2. 56. The 30year just hit a yeartodate low of 2. 117 t the. Joining us for the full hour, victoria fernandez at cross mark global investment. Thanks for joining us. My pleasure when you see yields slip like they have done, like they did last week, does it make you want to press the sell button for broader u. S. Equities . We dont want to sell we have that longer term outlook. We think theres a lot of volatility going on and thats going to continue to play out. We are looking at these treasury buys, not just from Short Coverings but outright buying as well but i think you stay invested at this point there we
It will be interesting to see what happens after the u. S. Labor day holiday and we get more bodies back in there. Lets dive a little deeper into the action with our markets reporters. Abigail lets take a closer look at a chart that we have been looking out bunch over the last week or so and especially today in different ways and that is making the point that august, the third is shaping up to be risk off. These are all futures. Manyrple, we have the futures, and yellow, we have gold futures, and white, yen futures. The month of july, all were basically flat and then after the fed meeting, stocks went lower, gold shooting higher, and bonds and the yen also trading higher. A lot of trade uncertainty in here overall, but over the Third Quarter, the s p 500 down 1. 5 . That haven has had it certainly and the Third Quarter and august, too, which is shaping up risk off. Look at workday which had a pretty terrible day and is down about 10 for the month. Take a look at this chart to look at t