Percent right now. Almost 30 points higher in the premarket. In europe stocks were mixed. You see the ft 100 other fraction as the dax index is down. Gains across the board to report on the heels of the record around wall street yesterday. Hong kong, hang seng index and three quarters of 1 . The Health Care Debate rages on. Lawmakers rejected a claim repeal of obamacare yesterday. Details of the smaller version of the bill begins to pick up steam. Tragedy in ohio to report. One person was killed, several others injured after an attraction at the state fair malfunction. Governor john k. Sake ordered alright shut down following the incident. It is a very, very tense situation when you go somewhere to celebrate and you are with friends and sometimes with family. The fare is about the best things in life and tonight but this accident, it becomes a terrible, terrible tragedy. Trade to three people remained in Critical Condition this morning. A dire warning of her travel to mexico. At least
Overvalued is the market extremely dangerous . On a day when the dow lost 205 points, the s p sank 1. 45 , the nasdaq tumbled 1. 3 . The worst day for all three averages since may the second worst day overall this year for the s p, its worth wondering whether the endless parade of incredibly Bearish Hedge Fund managers are right when they say that weve gotten too greedy and too complacent after all, every few weeks some oldtimer comes on air and yells, fire in the theater and today the theater did get seared 200 points is not an inferno, okay but its searing again, look, these statements about the market being too high roll off the tongue too easily i can say it all the time. The bears were sure right today, right . They could be right again tomorrow that doesnt mean they could be right over the intermediate term that i like to think about im no more comfortable with the nuclear icbm armed north korea than you are and im not a big fan of appeasement. But i like Nuclear War Even less, w
All right. Im tired of hearing about the koolaid as in cramers drinking the koolaid again. On a day like today where the dow gained 107 points, nasdaq cliemded 0. 64 , i got to tell you, i know what the koolaid looks like and what it takes like and this aint it. I actually covered the horrific event where the phrase drank the koolaid came from. Back in 1978 i was a reporter covering everyone who died violently in california for the late lamented harold examiner. I was assigned the actual jim joans case, the man who lured 900 of his followers to his death because they did drink the koolaid. That concoction was laced with cyani cyanide. This market i think its laced with some tried and true principles. But to get upended by the rhetoric is next in line for the peoples temple potion. What are some of the oldfashioned concrete methods that can call this poisonous tonic into question. Lets start with the transports. It its one of the old evidence theories when it comes to stock before you c
Johnson joining us from our european headquarters. Headline number for me unchanged. Guy they will keep the they purchase facility are saying they do not have enough information to make a decision at this stage. Maybe at the beginning of august we may see a rate cut. Sterling has picked up on the back of that, no rise to see what is happening. We will have to wait a few more weeks before we get that decision. Everybody waiting to see what will happen. I do not know a reflection of whether they believe a rate cut will have zero impact on the u. K. Economy, or want to see the effect of the brexit referendum story will have. It a stronger pound, kneejerk reaction in the fx market, yields higher off the back of the 10 year gilt yields around 0. 7 . Is this to do with a lack of data . All we have is a confidence survey. A bit of data but not much. Sentiment about consumer there are not much indications that some businesses are delaying investment and hiring, some signs pretty brexit vote st
Investec highlights the growing debt file. Im more hedged now than ive ever been. Carl icahn tells cnbc why the fed has caused a looming catastrophe with the low rate policy. All right. So after a lackluster session to finish off the week last week, it looks like u. S. Markets fair value telling us were going to be down when markets kick off. The s p 500 looking at the implied open, 7 points below fair value at this point. Dow jones industrials 26 points and the nasdaq should be down 12 points. As we anticipate, yes, it is the u. S. Nonpharm payrolls. Its pretty lackluster. Hong kong, south korea and taiwan. Lets check on the ftse cnbc global 300. This is an amalgamation of the 300 Big Companies not only in europe but asia as well. This is telling us were looking at a down session. Maybe 1 5 of 1 . Lets zero in on europe. Pronounced declines. Headed for our worst quarter, folks, since 2011. As you see, the selling continues with the ftse 100 lower by 1 . The german dax, this is a sello