Afternoon if you are watching from asia. Im Francine Lacqua in london. Ato era july manufacturing 46. 5, a touch above expectations. Watch,llar is one to also the u. S. 10 year yield. The markets broiled from what we heard jay powell say. Said they peace time rate cut has had an impact on the dollar extending. European stocks up. Pound is the one we have been watching for. 2110, this depends on whether goes for a hard brexit. Oil, 57. 8. We have an exclusive conversation with an exclusive executive and joining us later, the global head of research for blackrock. Before we get to all that, lets get to the first word news in new york city. Quarterpoint cut from the benchmark rate by the fed. That says it will stop drinking the Balance Sheet in august shrinking the Balance Sheet in august. This move dashes hope for a move. Er dovish it is intended to ensure against Downside Risk from week Global Growth and policy uncertainty. To promote a faster return of inflation to symmetric 2 objectiv
The president has completed meetings already with russias vladimir putin, the japanese Prime Minister, and indias modi but it is the oneonone with chinas xi jinping that has the potential to be the most marketmoving event. So it will be very critical for wall street, the u. S. Economy and the rest of the world. Bank of America Merrill lynch analyst says if a deal is struck, the s p could sail over the 3100 mark but if President Trump doesnt like the tone of talks and perhaps slaps new tariffs on more chinese goods and materials, the broader index could drop 5 . That would equal roughly 150 points from where we are right now. And there is latebreaking news from osaka. A trade deal could be on the verge of being struck, but its not between the u. S. And china. We will take you there for the up to the minute developments. China, a big topic during last nights democratic president ial debate. Hear what some of the 2020 candidates have to say about the way President Trump is dealing with th
New york stockexch tyler and sue have the evening off. It seems many people this Holiday Season made their lists and checked them twice, or by the looks of things, maybe even three or four times. What i mean is, we were in a buying mood, as shoppers came out in droves this year, driving sales, by some estimates, to their biggest increase since 2011. That naturally sent the Retail Sector higher on wall street today. As kate rogers tells us now, it might not yet be over. Shes in west nyack, new york. Or us tonight at, where else, a reporter christm may be over. But retailers have a lot to celebrate. The latest numbers from mastercard point to the best Holiday Season in more than five years. Retail sales rose by almost 5 from november through christmas eve. Online sales are up even higher, 18 . Overall sales are projected to reach 682 billion. I got an apple watch and an ocustick. A universal for january. Time with the family. My son. Reporter shoppers arent slowing down anytime soon. In
Higher one and a quarter percent. Im glad you cleared that up. Me too. Kbupg after the bell. The results of Bank Stress Tests and a number of dimpbd and buyback announcements could follow well tell you what to expect. Bid up again today big moves there lets get to the market move today. The dow, s p having one of their best gains in two months the financials leading the way there, the nasdaq is the big leader with a gain the biggest game percentage wise here lets get to the Closing Bell Exchange right now leah bennett from Westwood Trust is with us today good to see you my friend. And Rick Santelli checks in from the see me in chicago. Rick, i want to start with you because yesterday we talked about this taper tantrum that the european treasuries had had after mario said, you know, used the word reinflammation instead of disinflation, and the ecb had to walk that back today. You know, those yields havent given up all the that much as a result of that, have they . No, and that really is
What happens if regular investors actually begin to buy individual stocks again . Its something we need to consider as the averages hit still one more alltime high records. Down gaining 66 points, s p advancing. 45 , nasdaq climbing. 64 . Another ton of statistics showing an almost inexorible decline in the interest in the stock market as a whole. There are entire outfits that exist to scare you out of picking stocks, telling you that its a fools game because of the dreaded singlestock risk. They say youre worried that you could buy a total loser and it would destroy your nest egg, which is why theyre so eager to sell you this night etf that will sell you the both winners and loser. But theres something afoot now, after nine straight sessions where the nasdaq has rallied a total of 4. 7 , theres something going on, at least anecdotally these days when im stopped on the street by random passersby, im beginning to get actual questions about lots of individual stocks again. Not hows the m