College players to make money. A former player tells players be careful what you wish for even though making money off your efforts is part of the american dream. All that and more on making money. So the markets erasing a pretty nice gain at start of trading. Ism came in, ism manufacturing numbers came in lower than expected. Factory activity falling to 47. 8. Just know that in september, that is the low evident reading since june of 2009. It marks the second straight month of contraction in the manufacturing sector. President trump responding with a tweet, calling out the fed yet again, this time calling them quote, pathetic. I will bring in jack ablin, crescent Wealth Management and David Bahnsen. Jack, start with you. Nevertheless we started up sharply, almost every component of the report in contraction. What do you make of it . It was disappointing. I do think investors were looking for slight weakness in manufacturing. Saw hiring trailing expectations. But to have a number stead
General Public Perception of economic growth, and the like. Romaine we saw it about two points off the alltime high. The dow jones also up 0. 3 . The nasdaq, 100. Scarlet we should mention as well let the russell 2000 did end up with gains, but has been a laggard. 10 below its record high, reached last august. Romaine dow transport is down a half percent as well, so another sector you tend to want to see join the party. Lets dive deeper into the market action. Abigail, get us started. Abigail the s p 500 almost closing at a record high, that during the day putting in on alltime high. Is 3000 a psychologically important level, or is it important for the technicals . We will tune into that at work 40. Lets look at the chart we have looked at since the beginning of june. He goes back to december of 2017 area there is a huge range. The bulls and the heirs bears are really duking it out. The s p 500 seems to be moving into this pattern, suggesting the s p 500 is confirmed for well above 300
Disaster. How do you prep your portfolio . We have folks to help with you that. Can nvidia pick up this market . Throughout the hour were examining selfdestruction and creative destruction. We know a lot about the latter term but what is the role of self destruction in all of that. The role of the on nip poe tent Federal Reserve which is too powerful and Impotent Congress wont do its job. Social security, happy 88th, here is the thing, the gift you may be receiving, 17,500dollar pay cut. Thats right, a cut in Social Security. This truth never shows up on wall street spreadsheets but it is real life for far too many americans. All that and much more on making money. Charles outside of retail, we have wrapped up earning, right . All these Financial Reports are in. Also weve seen the nations credit rating. That has got a downgrade. Were watching all the cold war salvos between washington and beijing. That is intensifying. It recalls paradoxical firm coined by joseph shumpeter, you know it
Manus europe rallied. You are welcome. It is surveillance and i am manus cranny. Rallied. Ment, europe where up on the stoxx 600. It was text and telecoms that to the heavy lifting, nothing compared to your performance in asia. Record highs in asia. You are looking at levels that you havent seen since the 1990s in japan. Technology up 50 in asia. Europe, you are seeing this growth story. It is absolutely intact. The next question are you, European Equity markets, can you sustain the growth gains that we have had the euro at around 120 . Could the euro valuation unseat the story we see here . Week,llar index, what a what a year. This is the first yearly loss since 2012 for the dollar. You are seeing another push low. You get a 3 growth rate, you get a tax reform deal, you get three hikes from the Federal Reserve and still the dollar is lower. 2 lower from here at end of 2018. The most bearish view is the dollar will be down by another 5. 5 , not everybody is so pessimistic. On the upsid
It was like five sessions between 25,000 and the zeseventh trading sessio. From january 4th to yesterday is when we saw the 1,000 point move in the dow oil breaking, which is a weird Reason Energy stocks came down as a result just the idea lets hold off for a second nevertheless, with all of that, the s p 500 still remains on pace for its biggest monthly gains since march of 2016. The nasdaq is still on its biggest monthly gain since july of 2016. Look at what happened overnight in asia, you will see the nikkei was down by a third of a percentage point back to this morning sorry, flipflop back to this morning, you are look at double digit gains or triple digit gains once again for the dow. This comes after last night the nikkei down by a third of a percentage point hang seng and shanghai stocks both ended higher bay quarter percentage point in europe, where you see the early trading this morning, you will see at this hour theres a bit of weakness. Dax is down by 0. 2 . Ftse down about