Good wednesday morning welcome to squawk alley. Im carl quinnipiac. Jon fortt is at microsofts annual surface event in new york we begin with the markets this morning its been a rough ride to start quk q q4 behave bob pisani and mike santoli to break it down bob, ill start with you the important thing, this is the debate all year, what side of the recession debate are you on if you believe recession will start next yeear anyear, market dro markets will drop. You want to watch the big consumer names this year if theres a slowdown but no recession, these names should do well look whats been up, costco, home depot, nike, mcdonalds theyre across several different categories watch if they start rolling over so far its been modest. Starbucks is rolling over a bit. Jpmorgan had a negative comment on monday about them, but by in large they held up well if they start falling apart particularly after the jobs report comes out, i would get concerned. If youre in a slowdown camp, thats where i fee
Cents. The price of gold holding steady. Its up just a little. Have we got a price there . Okay. We will get to it later. Its 1300 an ounce. What did you say . 14 . Gold is 1400 an ounce this morning. Big gain yesterday, a fractional gain this morning. Got that. Investors do not know what to make of this. Chinas leader goes to north korea. Interesting that right after that visit was announced, President Trump called xi jinping and worked out an extended meeting. So its a threeway dance and no one knows whether it helps the trade talks or not. Look at this, too. After a big rally yesterday, no significant pullback this morning. Yes, the dow, the s p, the nasdaq, they will all open lower but all three are still at or very close to their alltime highs, despite whats going on around the world. Go figure, maybe. Friday morning. Varney company about to begin. Stuart want you to see the video. Look at it. Its cooling down a little bit now but that was a massive explosion at an oil refinery in
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