Continuing a trend that shows so far, university of michigan sentiment, other surveys were doing okay and things are going okay. In the middle of all of that, you have a report out of fedex saying were not doing okay. Telegraphing problems because of the trade war. The trade war is one of the big reasons why the fed will supposedly move today. It is all in what the fed lays out after it makes its move. The consensus seems to coalesce out of quarterpoint cut to Interest Rates. Would bring overnight lending rate from 1. 75 rate to 2 , from around 2. 25 we are right now. That can jostle wildly. Lets get the read on all of that Charles Payne, thank you for helping out on your world yesterday on fox news. What do you expect first off . 25 basis point rate cut in part because the wall street expects it, to such a degree yeah it is. If you think a trump tweet is tough, wall street selloff of several hundred points. I mean they, they really have the market cornered when it comes to temper tant
Market might dry up on them. Semiconductor issues, financial issues, could way on them could expand, global slowdown. Get consumer durables involved in that. Those sensitive to the economy involved in that. All of sudden, before you know it, katybarthedoor. The psychological indicator, the vix, that is flashpoint how people are feeling. That is jumping in excess up 33 earlier. Up 23 right now. Were keeping an eye on that as sentiment, what people are feeling about the market. They are feeling a little nervous. Numbers out of the Services Sector slid to a threeyear low. The reason i mentioned even the Services Sector, it at least is following in this report, a fourth straight month, downward trend, still expanding but at a slower rate. That is happening with the manufacturing sector. Twin sluggishness is weighing on these markets. Typically would pounce on negative news, being good for Interest Rates coming down. That is indeed happening. 10year note 1. 75 . Normally that would be a sal
Lets get going. 195 million, close to 200 million under heat watches or warnings. It could get worse over the next 24 to 48 hours. Jackie deangelis on who stands to be impacted. Hey, jackie. Reporter neil this is the calm before the storm if you will. It is not quite sweltering out here in times square just yet. Temperatures here, across the country, they are going to be at record highs. It is important that everybody is ready for this heat wave. 290 million americans are expected to see temperatures of at least 90 degrees this week. The humidity of course, remember makes it feel much hotter than that. Temperatures in the northeast will be 10 to 15 degrees above average this week. At least two dozen states, they are currently under a heat alert. Here in new york city the Mayors Office issued a extreme heat emergency declaration. It is so severe, that the new york city triathlon actually can sell for the weekend. That is the First Time Since it started in 2001. We caught up with some fo
Wednesday, forgive me, before the july 4th break. And the dow, nasdaq and s p 500 all in uncharted territory, still close to record highs despite looking down in the futures. President trumps salute to america speech from last night praising unity and american ideals, freedom and democracy. Thats what this country is all about but dont tell that to the left. They say trump got too political, shouldnt have taken the stage at all on Independence Day. Also, the largest earthquake in 20 years hitting california on july 4th. Buildings shaken, houses burning, highways cracking. But according to reports, no fatalities. We will have a live report for you later in the show. Varney company starting right now. Today we come together as one nation with this very special salute to america. We celebrate our history, our people and the heroes who proudly defend our flag, the brave men and women of the United States military. God bless all those people in the military. That was President Trump at the
Impressed. The economy is humming, humming so much, that the dow is tumbling, down 200 points. Since recouped half that. Edward lawrence from the white house with details, some people thinking the Federal Reserve doesnt cut rates so soon. Edward . Reporter interesting job reports. 224,000 jobs created in the month of june. The Unemployment Rate ticked up 3. 7 . That is because of a good reason, more people, the amount of labor force grew. The total amount of labor force. More people are coming in off the sidelines to work there. 224,000 jobs created. Very Strong Economy. That means that 173,000 jobs over the past 12 months, each month, has been created by this economy. The president pleased. Were really unexpectedly good. Our country continues to do really well, really, really well. So were very happy about it. I think were going to, were going to be breaking records. If we had a fed that would lower Interest Rates we would be like a rocket ship. But were paying a lot of interest and i