News on the banks. We were discussing on closing bell the banks finding out this evening what this extra stress tests theyll go through this fall will be there will be two severe recessions it will be tested against as opposed to normally one. Its possible we could interpret those severe recessions as not as bad as they could have been june saw unemployment spiking to 10 . This test has two versions one is that it spikes to 12. 5 and then dips more quickly to 7 7. 5 both of those factors perhaps highlight the severely adverse scenario didnt get that much worse given the year that were in than perhaps it could have got. 10 unemployment to 11 or 12 is not that much worse. That will also include a stock market decline by 30 house prices falling 26 all of course headlinegrabbing changes but not that much worse than they could have been given the fact that we already knew this early set of tests was coming there is one line that stands out at the end of the statement that says, the board re
Now. New data points to a sluggish economic recovery as payroll, points in the beige book shows a modest increase in activity. 59 minutes until the close were set to have another record highs for s p and nasdaq up 1. 2 on s p 500, sara its utilities leading the way higher for a change. Coming up on todays show, Galaxy Digital back to weigh in on the rally as it carries over into september were going to ask where hes putting money to work right now. Weve got an interesting mix of earnings coming your way after the bell, including work from home like cloud strike, those are hot, hot Cloud Companies Apparel Company pvh and well talk to manny tirico, calvin klein and Tommy Hilfiger mike santoli tracking Market Action as always Steve Liesman with new highlights from the feds beige book joining us to talk tesla and pullback were seeing is craig irwin from roth capital. Mike, start us off with the market every group is higher except for energy you do have utilities and real estate and health
Trading month post split check out this sky high etf chart. You think you know what this etf is let us know. We have a lot to get to with news breaking on at t. Lets get to Julia Boorstin with more. Thats right, brian, those shares up about 2. 5 in after hours trading on a report that at t is again exploring a sale of its directv business this according to the wall street journal who site sources saying at t and advisors have been talking to Apollo Global and Platinum Equity as potential bidders. At t has explored selling directv. The ceo has discussed the importance of divesting noncore assets directv has struggled with cord cutting amid the growth of streaming options. The wall street journal is saying a deal could value directv below 20 billion. Thats less than half the 49 million at t paid for directv back in 2015 at t tells us it has no comment on this report we are reaching out to apollo and Platinum Equity and have not heard back yet steve grasso, so your take not only on the ne
Year auction that has taken the wind out of the big Growth Stocks. 59 minutes left to go. Now just about 20 points away from a record on the s p 500 wilfred, we crossed over that level that would have been a closing high we lost a the lot of steam i know. We didnt quite make it and sold off near the close but doesnt look likely to happen today as things stand lots to come on todays show well hear from two key market voices as the s p 500 nears and pulls back and then hovers below that all time high dan niles and mohammed larian will join us well discuss the growing china fallout with Carly Fiorina lets start with the key stories were watching mike santoli is looking at the recent recovery in bond yields and joining us to talk about apple as they hit the new high is tony from Sanford Bernstein its really not that unusual for the market to hesitate for a while when it reapproaches an all time high. Although, it seems almost a little too cute the way its done the past few days really floa
Delays from washington from the trade deal to the stimulus negotiations, deadlines and expectations being pushed back the weve got 59 minutes left to go in the trading week s p 500, 16 points from a record close. Down right now, jon. Still higher on the week everyone except the nasdaq great to be with you this afternoon. We have a big show coming up to finish out the week. Were going to speak with minneapolis fed fred neel sakashkari and later, as stimulus talks grind to a halt, well speak with Maxine Waters about whether there is any compromise to be had. Plus, shell discuss a new bill encouraging the fed to use authority to close the racial wage gap in this country mike santoli is tracking the Market Action. Start us off on the broader market. You can call it resilient or fatigue or really anything a standoff here at the record high levels of the s p 500. The past four days have basic clind of touched it or been shouting distance of it. The were just hovering there. Up 3 or so month