Balloons increasing 26 to just a little less than 1 trillion. Joining us for the hour is chris verona, Strategas Research partners here we are, we can see it, we can taste it, a new record high and everyone is really calm around hiere. The lack of euphoria is telling. Theres this great divide between perception and reality what are the headlines impeachment, recession, china, pmi under 50 but the reality is, signs of cylicality are starting to show up in every corner of the globe. You see it with semis and with trucking stocks, german dax is at a 52week high, the banks are acting better. I think the tone of the market is so different than what the tone of the front page of the paper says every day and i think thats bullish great to have chris with us for the whole first hour of the show, particularly given that we might have that record alltime closing high for the s p 500 the key level to keep an eye on, by the way, 3025. 9. We are at 3022 at the moment lets focus in on the big storie
Action with our markets reporters. Abigail, what are you watching . It has been a few days since we looked at the s p 500 technicals. 50 range between the 200 and day moving average, in that range. Lets look at a year and a half long chart. The history is telling for what is happening now. On the volatility happened in the winter in the spring, we saw similar, caught between the two averages. A battle between bulls and bears. Neither having more information. The bulls did win for new alltime highs in september. The bears took it in the fourth quarter, going below both of those moving averages. Back below the 200 day moving average. All this suggests we could see this range testing back down on the 200 day moving average. Volatilemake for a september. I am closing it out and looking at the bloomberg dollar index. It is rising to its highest since december. All the positive comments but the u. S. China trade war, which is helping boost Risk Appetite . President trump said talks were sche
Chicago for what is moving this stock. Phil reporter melissa it is not just that the q2 loss was greater than expected, tesla losing 1. 12 per share. The estimate was for a loss of 1. 40 a share the estimates were all over the map, a wide range there. Revenue coming in at 6. 35 billion, a little shy of expectations it is the automotive Gross Margins that will get a lot of attention here they came in at 18. 9 . Remember, the concern was those margins were going to be squeezed as they were pushing out the model 3, was that push to make deliveries of more than 90,000 going to hurt margins coming in at 18. 9 when many people were looking for them to be at least 20 . By the way, thats down not only compared to the Second Quarter of last year but also compared to First Quarter of this year where both of the quarters, the automotive gross margin topped 20 . They do reiterate their guidance of delivering between 360,000 and 400,000 vehicles this year the shanghai plant is on schedule to open b
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Ten year steady, just south of 22, Industrial Production 15 minutes away we begin with wall streets record run stock futures mixed ahead of the open. Terror in london, 22 injured in an explosion on a london subway train during the rush hour commute and Facebook Advertising under scrutiny the social network revamping the selfservice ad byi inbuying pl. First up, the dow is aiming for another record high, a sixth straight positive session. The markets resiliency tested today. Retail sales fell unexpectedly in august by. 2, dragged down by autos. They couldnt isolate the effect of harvey on retailers then news of north korea firing that missile over japan for the second time into the ocean there will be Security Council meeting today. But on retail sales, interesting, nonstore, which is essentially amazon, down 11, the worst month since april of 14. Thats so out of whack with everything you hear. Lately the numbers i think have lost some degree of their validity i think by the way, i thin