Strong session. That sector going for its seventh straight day of gains. The only other areas with some green on the board kind of feels a little suspect as this last hour begins, well keep our eyes focused there as well. It takes us to our talk of the tape. Is the markets uncanny resiliency throughout much of 2023 a sign of whats to come in the months ahead or just too much to maintain. Lets ask eric johnston, hes made his case on this show that stocks are due for a big drop, and on the other side, nfjs john mowry who argued investors have been too negative. Both joining me live. Its good to have you both. Eric, youre here next to me. Ill come to you first. Why do you remain negative on this market as we make the turn into the fall . Yeah, so there remain significant headwinds that are in front of us, and i think looking forward. So i think if we look at a few different things, number one, this is a late cycle economy. Weve looked back and i would define the cycle by Unemployment Rate
General Public Comment at this meeting and there will be a opportunity to comment on each discussion or action item on the agenda. Each comment is limited to two minutes. Public comment will be taken both in person and remotely by call in. For each item the board will take Public Comment first for those in person and from people attendeding the meeting remotely. Comments are opportunities to speak during the Public Comment period are available via phone by calling 4156550001 access code, 26638831727 then and again. When connected you hear the meeting discussions, but will be muted and in listening mode only. When your item of interest comes up, press star 3 to be added a the speaker line. Call from a quite location, speak clearly and slowly and turn down your tv radio or computer. City policy along with federal, state and local law prohibits discriminatory conduct and will not be tolerated. Public comment is permitted on matters within the jurisdiction of the meeting body and thank you
Trump to testify former president claims defense team won the manhattan case calling on judge merchan to dismiss the charges, watch. This is such an embarrassment of constitutional that i imagined a judge would grant motion to dismiss here. There has been no evidence theres no evidence there is no crime, the majority of americans can see politically motivated, should this is i am, going to backfire on prosecution i think judge, on this mo senator eric schmitt economic consumers Science Transportation Committee thanks for being here you were in that courtroom yesterday tell us what you winsed witnessed. Surreal this is United States of america, to see this kind of of lawfare play out in real time is very disturbing, i mean what all these cases certain this case represents democrats efforts to interfere with election to preoccupy trump or take him at their word throw leading concerned for president of the United States in jail for the rest of his life. I mean this is Banana Republican yo
Item 2, communication. We welcome Public Participation during Public Comment period. There will be a opportunity for general Public Comment at this meeting and there will be a opportunity to comment on each discussion or action item on the agenda. Each comment is limited to two minutes. Public comment will be taken both in person and remotely by call in. For each item the board will take Public Comment first for those in person and from people attendeding the meeting remotely. Comments are opportunities to speak during the Public Comment period are available via phone by calling 4156550001 access code, 26638831727 then and again. When connected you hear the meeting discussions, but will be muted and in listening mode only. When your item of interest comes up, press star 3 to be added a the speaker line. Call from a quite location, speak clearly and slowly and turn down your tv radio or computer. City policy along with federal, state and local law prohibits discriminatory conduct and wi
Psychological five level last night before backing off. Investors closely watching the weekly close and what these moves mean for the yield curve. Mike santoli, cnbc markets commentator joins us. I did mention uninversion is happening for the wrong reasons. Exactly. Uninversion, in general, is not great. This time its happening because people are willing to sell the long end bonds. This time there is a little bit of a bid in the short end. You have had twoyear yields come down. All that being said, you know, the stock market is down a little less slightly than it was a few minutes ago. It was a very determined angle of descent down to 1 drop in the s p 500. It just seems like markets getting a little twisted up and risk averse in advance of the weekend. There actually is a little bit of a bid in treasuries. As soon as you get maximum afraid of 5 yields, we back off 5 yields. And its a matter of making our peace with it and why is it happening is part of the story. But just what the eff