This stock hitting a century mark thats right, a 100year high for this company any guess sns send it on the twitter feed we reveal the answer later on in the program. All right. All that ahead but we begin right here with what some are worrying could be ipos gone whiled wild check out the morpt moves in the the recently public named np beyond meat, smile direct, ub err. Up double digits this year np smile direct up 34 uber up 17 beyond meat up 5 a and were only 9 trading days into 2020. Now many of the names are still well off the alltime or ipo highs. So is the recent rally too far too fast and if so which, guy adami of those names, if with with you nicked one of the names shone would you say this is the most worst and ee egregious example of momentum gone amuck. The most momentum gone amok beyond meat is fascinating to me it went from 75 to current levels in a straight line. But also off the 240 level we saw in july. I dont know if necessarily run amok they are well off the highs to
Before the open this morning along with twitter overnight in asia, you will see what was happening there the nikkei ended down by almost half a percentage point. Hang seng was down by 0. 7 shanghai in china, you did see stocks higher. Up by a quarter percentage point. In europe, the three major averages had all been in the green. The dax up by 0. 3 the cac up by 0. 4 the ftse up by more than that. Italy and spain stocks there weaker spain down by 0. 7 in the treasury market, again with the gdp number coming up later this morning at 8 30 the tenyear yielding 2. 069 everything that happened with the ecb yesterday what that means for the fed, well talk about all that coming up in a bit. On the squawk planner, we have first look at gdp in the Second Quarter thats on tap. Forecasters expecting an increase of 1. 8 after a surge of 3. 1 in the First Quarter on the calendar we will hear from twitter, mcdonalds before the opening bell next week it gets crazy. It is the busiest week of earnings
Plus, verizons 5g focus. The ceo says 50 of consumers will have access to that technology and beyond meat is tumbling in the premarket, pricing a secondary at six times the ipo price and has new competition on the way. Stocks are looking to open higher after their worst day in two months yesterday the fed cuts rates by a quarter point, but the chair dampens expectations for more easing despite the selloff, the major indices still finished july in the green, their sixth positive month in seven, although were headed into the historically weakest two months of the year well, look, were making much too much of this mid cycle were going to forget what that means five days from now we wont be thinking about that. Well be thinking about it today until the market goes up then we say forget about it. He was in a spot hes in a spot because he has a president who cant fire him but would fire him, right . And send him down the elevator he wants to make it so that its not personal so he comes up wi
Weak manufacturing data raising hopes for more fed easing and the tenyear yield falling well below 2 for the First Time Since early july coming up later, big exclusive interview with the former vice chairman of the Federal Reserve, don kohn well ask him how the trade war escalation could impact the feds next move. Joining us is Barbara Duran from Capital Partners barbara, do you make any moves on this surprise tweet this afternoon from the president no, no. I think weve seen this before and it doesnt make it any less real or impactful. 10 will see what goods are impacted i think a lot of that is in certain sectors and stocks already whether its the industrials, the manufacturer. We have to wait and see. We know what sectors are impacted this is cell phones, laptops, tvs, baby toys. All those who testified, please dont put tariffs on us, thats what it is apparel. The rest of the country i think its not going to change the basic economy and whats going on in terms of the consumer and wag
From hazardous products. A representative from Consumer Reports and a child safety advocate were among witnesses at this hours energy and commerce subcommittee hearing. The subcommittee on Consumer Protection and commerce will now come to order. Were going to hopefully move pretty quickly through Opening Statements because were going to be called to the floor before too long for a long series of votes. And i really want to hear our witnesses. You know, the American People are often skeptical of what does government do for them. And i am just i just feel so proud and so lucky to be on this subcommittee, because the kinds of things we are talking about today are about saving lives. And were actually going to make a difference in the live lives of everyday americans. I appreciate so much our witnesses for being here today. Were going to consider seven bills that aim at protecting consumers and, yes, saving saving lives. In subcommittee is vice chair for example Tony Cardenas introduced th