Which is more scary, the inversion or what we are seeing in the 30 year . What does it mean for Global Equity markets . This is the picture we find ourselves with right now. The s p trading sharply to the downside, down by 1. 5 . Tech stocks are down, chip stocks down, banks trading lower. At where the look banks are here in europe, down by 2. 46 . We are seeing a big move to the downside in stocks. Stocks, when we look at what is happening with the dow, down hard. Macys is getting battered today on the back of its numbers. We have the wework ipo to talk about. The timing on that one looks pretty difficult as well. Two other stocks were focusing on as well. The deal is finally done, that media merger. Viacom and cbs are reuniting after 30 years in a longawaited 11. 7 billion deal. What is interesting today is the Market Reaction to that. We are seeing both stocks coming under pressure. Part of that is down to what is happening with the markets today. It would be tough to be positive to
U. S. Road map begins with stocks poised to rally at the open, boosted by rising global trade optimism, those earnings we mentioned from coke and utx, ceo of coke will join us today. Fiscal crisis averted the white house and congress striking a budget and debt ceiling deal. And lobbying for huawei restrictions release the ceos of qualcomm, google and intel and other tech giants make their case directly to the president. Futures are higher this morning on the heels of a number of better than expected earnings. Three dow components also cross beginning with coke. Shares higher after the Company Beats the street, raises organic revenue guidance and utx beats on the top and bottom lines. Mixed bag for travelers. Earnings fell short but ref new be beat coke seeing organic revenue five versus the prior four. Doing such a great job. Doing it with coke zero sugar which happens for quite good tasting. Doing it with water. Hes doing it with those small formats. Whimsical. Hes doing it with bette
And their currency is under siege. Our problem is a Federal Reserve too proud to admit their mistake of acting too fast and tightening too much and that i was right. They must cut rates bigger and faster and stop the ridiculous quantitative tightening now. Which gets us to the markets this morning, jim. We have been talking about negative rates, they only continued to worsen. It is a strange phenomenon to be sure but it is also a worrisome cycle people believe because you have negative rates that auger for weaker Economic Growth or a lack of growth you have what are it becomes selfreinforcing you have the global coordinated monetary easing going on right now. And you have the first time people talk you about the possibility of rates here falling dramatically from where they are now have you ever seen a ten year whipsawed as much in yield in the half hour period as we did this morning almost as if someone wants to get ahead of even lower yields there is a big short position in bonds. Th
Weak manufacturing data raising hopes for more fed easing and the tenyear yield falling well below 2 for the First Time Since early july coming up later, big exclusive interview with the former vice chairman of the Federal Reserve, don kohn well ask him how the trade war escalation could impact the feds next move. Joining us is Barbara Duran from Capital Partners barbara, do you make any moves on this surprise tweet this afternoon from the president no, no. I think weve seen this before and it doesnt make it any less real or impactful. 10 will see what goods are impacted i think a lot of that is in certain sectors and stocks already whether its the industrials, the manufacturer. We have to wait and see. We know what sectors are impacted this is cell phones, laptops, tvs, baby toys. All those who testified, please dont put tariffs on us, thats what it is apparel. The rest of the country i think its not going to change the basic economy and whats going on in terms of the consumer and wag
Good evening, everyone. Welcome. Well, the stage is set and investors cheered. Federal reserve chair Jerome Powell bolstered the case for a possible Interest Rate cut when policymakers meet at the end of he suggested that lowering the benchmark rate would bolster growth and cited a number of uncertainties here and around the globe. Thatd lif optimism on wall street, sending the nasdaq to new highs and the s p 500 ble l briefly through the 3,000 mark before it pulled back. The downd jonestrial average rose 26 points to 26,860. Theasdaq was up 60 and the s p 500 gained 13. We have two reports tonight. Bob pisani is at the New York Stock Exchange, but we begin with Steve Liesman and the fed. Fed chairman Jerome Powell all but guaranteed thel fed w be cutting rates probably as soon a this month, from the testimony in the house today. While he said the u. S. Economy is in a good place he emphasized globalncertaint economic weakness and low inflation as the things guiding policy. Would it be