Democrat, were willing to accept extraordinary disadvantages to american jobs. Billionaire telling the fed, they are, quote, screwing savers and says donald trump is wrong for his attacks. The president is doing a lot of wrong i wrote down yesterday, i said Consumer Confidence is up, retail confidence is strong, consumer net worth is at record levels, economy is growing at trend. Rbs investors welcome allison rose to become the first female ceo of a major british bank. Sterling hits a twomonth high after they say a brexit deal is possible hes open to a deal that might replace the irish backstop good morning the u. S. Vice president mike pence told cnbc at the alpha conference that President Trump is defending economic interests as they resume trade talks in washington, d. C. Today when it comes to china, it is a whole different ballgame we run 500 billion trade deficits with china and we estimate we lose almost as many in intellectual property theft almost every year. What the presiden
Not so negative in switzerland. Relaxing deposits and bucking the easing trend the fed draws fire from trump once again saudi arabia say drone and missile debris calls out iran and mike pompeo calls the strike an act of war. A warm welcome to street signs. Plenty of central bank action. The fed and the s b already. Just in, we heard that norges bank has raised Interest Rates the question is if they would hike rates for the third time this year. We are seeing a jump on the back of this decision to raise rates. This is the third time this year that they have the question is will they change but they have gone ahead given the fact that they have and bucking the trend, it is worth pointing out the smaller rate hikes in june they have hiked today but revised downward in their future very interesting. A real variety of action around the globe. We have the bank of england decision as well again, central bank taking focus. Lets talk about the biggest central bank decision. The Federal Reserve
The private equity giant 3g capital sold 20 million shares but there is a reason behind it. Stocks are set to open slightly lower well start off with that wework news, of course sort of trickling out yesterday, after the close. A delay in the planned Public Offering that has been so, well, such a focus over the last few weeks. As the price at least that wework thought it would get for its shares has rapidly declined over concerns about its Business Model, over concerns about governance, ever since they actually issued the s1, which mr. Cramer didnt take a fancy too, a lot of this goes back to mr. Adam newman, the man who founded the company and runs it. And this has been a chaotic process. Having reported on it now for a couple of weeks, i can sort of tell you ive never seen anything quite like this in terms of the disarray in preparing for a Public Offering. And i guess what was clear and perhaps funlly made clear to them was they werent ready. They were not ready to actually face pot
Oh, yeah, hes got a new book. Its good. Lots of business advice. Its called shut up and listen you better shut up and listen because power lunch starts right now. Lets take a look where we stand with the markets now the nasdaq and s p all under pressure but hugging the flat line look at the change there basically minuscule. A matter of basis points one day ahead as the result of the big fed meeting. Energy falling after yesterdays huge rally its the worst performance sector this day down about 2 after yesterdays big games. Crude down about 6 after yesterdays big gains. Well have more on those moves later. Tomorrow at this time well be getting the feds decision on Interest Rates steve has the details from the latest cnbc fed survey thanks very much. Pretty good agreement that rate skut on the way. Most say well get another rate cut and that will come in december thats the bulk of it. Amid lower rates, you think it would be by it it comes with incressed probability of recession the 32 pr
December 2008. Brent had its best day since collecting data. You are still looking at wti at 61. 81 and present at 65. 85 in asia, the knnikkei up about 3 points this morning, some early trading in europe, fairly muted there. Ftse slightly higher in france, the cac slightly down, so is the dax. Check out treasury yields, the soyear is now yielding 1. 833 the 30 year a little lower but well above what weve seen in recent months. Lets talk about the corporate story of the morning wework now delaying its ipo. Surprise but says it will still go public by the end of the year the company has been prepared for its investor road show which was supposed to take place today. But made the decision last night to stand down. This reportedly over concerns that there is not enough stock mark et investors. Work reporting they will not go public until at least october at the earliest adam neumann wants to get through the jewish holidays before he considers the next steps. Because that is what is keepin