Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w
It is great to have you with us happy friday our Investment Committee today, steve weiss, jim lebenthal, brin talkingten rob seechen, and one of forbes top 100 financial adviser. Also here with us on set, tom lee, the head of research at global advisers. Stocks sinking this hour were at session lows right now. Take a check on the dow. Were witnessing a 473point drop or 1. 8 decline here s p 500, this is close to session lows right now, down by 57 points, or almost two full percentage points. The nasdaq getting hit the hardest, down 2. 3 semiconductors taking it on the chin right now President Trumps tweet sparking this drop, firing back at chinas new tariffs. Trump saying u. S. Companies are hereby orders to immediately start looking for an alternative to china including bringing your Companies Home and making your products in the united states. The president also says he will be responding to china tariffs later on today theres a lot we still dont know what we do know is this is an es
Discovered new Software Issues and financials outperforming ahead of the stress test results. Joining for the hour to break this down is josh brown. I asked you what the key stock indicative of this market is and what people are watching you said gld that was surprising. I thought that was a private conversation, sarah nothing is private with me. I said gld because it trades like a stock and the dollar doesnt but what im really getting at i really feel the dollar is at a very critical level and i mentioned it was kind of sitting on support i think what the dollar does next from here could have big ramifications for everything from earnings estimates to emerging market stocks. It keeps weakening here. It hasnt broken down since trump has been president its been fairly strong. Some would say too strong. I know he would. For sure. You asked me what are people looking at and focused on, believe it or not its the dollar again gold is huge fiveyear breakout and breaking of the down trend is
Coming up, i bid comes back into bonds every brutal beat that evaporated. It sends a shudder through the Corporate Credit market. We begin with the big issue, all eyes on wyoming. Jackson hole. Jackson hole next week. Next week, jackson hole. Jackson hole is going to be two points of focus. If we really come down to powell to be on message. We dont really think we will hear a big change in narrative. What is the fed ultimately looking for . They are likely to take a look at why demand imbalances. Labor markets will decide how much they need to adjust the over night fed funds rate. The fomc participants should be looking at the last three months worth of data. The fed has done so much already in terms of delivering those hikes. These are not going to be near term policy decisions of what they need with rates next month. Rate hikes at the september meeting. Maybe the fed doesnt need to hike. We are not certain blessed hike is behind us. The fed will keep rates higher for longer. The fed
Checking with equities on the cpi print really playing out in some senses. Its a bit of a core reaction to it by equities, but tech dragging the Hong Kong Market down, in particular. That is the yuan at the bottom of the screen. Trading the onshore yuan. Theres a look at chinese or should i say, Hong Kong Markets and tech as well. Yvonne its not just the yen against the dollar, we are watching most of these majors, especially when it comes to the euro. The end this weakest than stew thousand eight against the common currency. We are eyeing 145 for dollaryen right now. Joining us now is our effects and rates strategist, michael wilson, with more. We are getting close to those intervention levels now. Are we really focusing on this now . Are we likely to see anything . Michael good morning. Just above this 145 level, i would think not. I think we have to Venture North of 146, 146, 148. It would have to be done in quick fashion to get the ministry of finance hot and bothered. The way that