Number came in soft enough to illustrate that inflations finally running out of steam so when the c pichlt came in around 3 way down from where it was before we all cheered. Many people bought stocks. Everything was fine, right wrong. That rally was a totally revolting development. Sure enough the averages spent the rest of the session selling off dow finishing just up 53 points while nasdaq advanced minor. A far cry from that yoef heated opening. Theres so many reasons why it was a mistake to buy stocks this morning. Because ive been spending this whole week teaching you how to avoid the kind of mistakes that make you give up on the entire stock market were going to unpack this one. Unpack it good mistake number one the vast majority of people who follow the stock market closely were predicting that the Consumer Price index would be up around 3. 3 . It was actually up 3. 2 . Take note. When most prognosticators predict 3. 3 inflation and yet 3. 2 inflation, guess what its not a surpri
Here to discuss all that is adam parker, Research Founder and ceo, and a cnbc contributor. Adam, there were all kinds of reasons it made sense to anticipate a little bit of chop coming into august seasonals, sentiment, technicals, valuation, arguably, yields are doing what theyre doing, but Corporate America has kind of shown its hand on earnings for the most part this earnings season. Better than anticipated. The consensus is holding up on a forward basis. Where does that leave you in terms of whether, in fact, you know, the market can skate without much more of a correction i mean, if youre reacting week over week or, say, over the last month, i dont think the data make you more negative. No. I think if you were starting july 1, saying, im 50 , were up ten, down ten, im like 60 40 up now because i think the Big Companies delivered pretty Solid Earnings reports their earnings are up pretty much for all of them, google, amazon, meta nvidias numbers are up. They didnt even report yet. S
I will also tell you also stay with us news on espresso eight in the morning on the broadcast clock so news in on the air in the studio of ulyana panasiuk congratulations, at night the russians attacked the rivne region with drones, one of the enemy drones targeted an oil depot in the city of dubno , fortunately, people survived, informed the head of the Regional Military administration vitaliy koval, he also added the need to there is no evacuation of the population. Unfortunately, the completely destroyed infrastructure object is an oil depot. I am at the scene of the incident. The Emergency Response team has been deployed. 45 rescuers are involved. There are 14 pieces of equipment , including a fire engine. The relevant investigative commissions are working, headed by the head of local structures of radiation and chemical background. Gnomes terrorized the occupiers at night and the Dnipropetrovsk Region was hit again with heavy artillery in the nikopol district , six private houses,
Tilray, ceo irwin simon is coming up. Having a nice double digit increase this morning. Markets giving back mondays gains and then some on some concerns about china weakness and the macro, moodys drawing attention to some banks, worst day for the kre since may. The vix back we havent talked about the vix. Everything is selling off, except for health care, thats up 0. 50 thats thanks to names were seeing in names like eli lilly, potentially gamechanging studies on Heart Disease from the obesity drugs. Overall, carl, its a selloff kind of day, its broad. The focus continues to be on soft landing, no landing well get a key Inflation Report on thursday that will be definitive in trying to figure out what happens there on the policy front meantime, tenyear snuck back below 4 this morning. Were talking about growth now as opposed to inflation. Well see what cpi does to that conversation breaking data out of the new york fed Steve Liesman has that hey, steve. Good morning, carl. Some mixed da
There are various International Certifications customs issues eh this eh is also very important see more about the specifics i will tell you a specific case here was a guest in the Business Program with representative andrii yanivskyi what is the representative of the company that produces snacks, meat snacks, and coconut stacks and chips, and he says that if these snacks are made of coconut, if they are made of potato chips, there are no problems with exporting to european countries, then it is uh problems arise with dried meat , and it is almost impossible to export meat to the European Union. The same is true of dairy products. Why does this happen . Are there any objective reasons for this, or are europeans just that . This is how they protect their farmer and their producer. Yes, there are a number of cases in my practice so when we have manufacturers, when they work , for example, with vegetable products, fruit products, with snacks, there with things of plant origin , in relatio