Runs here. They were safe bets and safe harbors in the middle of that whole virus storm. Apparently proving that even after the fact right now. The point in the selloff, everyone was abandoning stocks, no matter what their business prospects, how many regret doing that now . Knowing that all of those issues have come storming back, in fact race to highs beyond their old highs. And, look at the dow, look at s p 500. Even with the selloff here, five, six Percentage Points away from alltime highs. Not too shabby. A lot of this is built on optimism, today notwithstanding about the reopening of the economy across the board despite more than a dozen case reporting spikes in cases, most say the spikes are manageable. That is really in the eye of the beholder. Jackie deangelis breaking down what were looking at. Reporter good afternoon, neil. You point out the nasdaq is moving higher but the rest of the markets are pulling back. You have the push pull here as market moved high as you know, inv
This year at 9. 3 . Then recovering next year to five or 6. 5 in 2021. Now pce inflation under 1 . Longterm federal funds rate again, they see it at 2 1 2 , getting back to that. But again no raise in rates for the next two years. Now in the statement, theyre very interesting language. They put in financial conditions have improved in part reflecting policy measures to support the economy and the flow of credit to u. S. Households and businesses. They have had weaker demand it says on, as well as oil prices have kept inflation historically low. Federal reserve is committed they say to use the full range of tools to support the economy. This was a unanimous decision but again, charles, holding the federal funds rate where it is at least through 2022 is their projections. Back to you. Charles edward, thank you very much, my friend. Hopefully well come back to you for some Additional Information but right now i would like to bring in to discuss, kaltbaum Capital Management president , gar
Commissioner bernie kerik. After three months of the coronavirus crisis, days of protests and arrests, new york city is back. Cue the Frank Sinatra music. Were open for business. We have a stages of recovery for the nations biggest metropolis. All that and more on making money. Charles sector rotation has been going on for about a month. Initially it was stealthy but no longer. In fact it cannot be ignored. Think about this, energy was bestperforming sector. Followed by financials and industrials names. Defensive sectors like utilities, staples, they were worst performing. Old adage, growth at any price . Maybe it found a price. Technology and Communications Services names. They put in a pedestrian performance. Today i have to say they look pretty lackluster as well. Where should you be investing right now . Lets ask two of the best. Rosecliff managing partner mike murphy and Gibbs Wealth Management cio erin gibbs. Mike, it has been too long. I have to go to you in part. You were one o
Meantime i want to go to blake burman on this back and forth so far how the cases are going because this is happening we have had backtoback days of 30,000 cases reported in this country. Something we have not seen since the beginning of may. To you, sir. Reporter neil, yes, the number of cases growing across the country. Over here at the white house though they continue to be adamant in their view, according to public experts they talked to and listened to here there is not a second wave right now. The white house view at the current moment. Though we are continuing to see the Economic Impact of covid19 and what it is having all over the country in just about every pocket you look, the latest example in northwest arkansas because china has come out today and said it is not going to be buying poultry from tyson foods facilities in northwest arkansas. When you look at the numbers, neil, there is a reason why because according to that company there have been roughly 3700 employees been t
Attorney, thats coming up so much on this show, stay tuned, for making money. Charles well stocks, the major indices are mixed, spinning the results up to most of the session but here is the deal all eyes really awaiting President Trump what is he going to say object our strained relationships with china, the tension is mounting, we are expecting to hear from him in fact at any moment the administration is criticizing beijings plans to impose a National Security law in hong kong and the president is not happy with china but is not certain if it will impact the trade deal and thats what wall street really wants to know is going to happen. Joining me how hud senior fellow chinese strategy director Michael Pillsbury youve been ahead of the curve on all of this. You kind of saw all of this evolving, because i guess its what china wants to do. They want to sort of dominate the world and nothing is stopping them but they actions seem to be more in your face. I think thats right, charles. I t