Intraday s p 500, going into the trading session we were higher. Investors excited for the fed commentary. Around the time of 8 00 when china came out with its tariffs headlines, talking about it would place additional tariffs on 75 billion dollars worth of u. S. Goods including cars, soybeans, and oil, we see lower. Then jay powells preprepared remarks did come out, being perceived as dovish. We see the s p 500 verse higher and then President Trumps tariff tweets came out talking about he will respond this afternoon, a big leg lower. At session lows. Now we have all three major averages on pace to have a weekly decline for a second week in a rope. Is showing sector wise. If we go to the bloomberg and look at the imap, all 11 sectors are lower in a big way. The majority down 2 or more. Energy,ottom, tech, consumer discretion industrials. On top, doing better, the defensive sectors, high dividend yielding sectors that look more attractive when yields are lower. As for some of the other
Recession. Blockbuster have mr. Kudlow we have blockbuster retail sales. Most economists on wall street towards the end of the week had been marking up their forecasts for the third and fourth quarter. David do you think they had a message . Alix a little bit. That was just a little bit of the networks they were on. Markets, the question really becomes where are the actual recession fears, and where are we actually ok . You can see that playing out in eurodollar right now. Living a bit higher, we can take a look at where the markets are trading. After the news broke that germany is potentially looking at stimulus, specifically targeting job creation, that is giving a lift to the markets. David big news as we were coming to the air. Alix we sort of knew this. David but now they are signaling targeting job creation. Lets get to the morning brief, where we look at the week ahead. Home depot, t. J. Maxx, and kohls reporting tuesday earnings. We get to see the fomc minutes from the last mee
Argentina continues to be a story. The currency we getting another 7 . I want to show you the reaction in the yuan after those headlines. We were floating along nicely, and then suddenly this massive drop for the yuan. A strengthening of about five or six big figures on those headlines. Talks are going to be over the phone in two weeks. We also learned that as well. Guy big move in dollaryen as well, 1 . Thats the risk off trade being reversed. German 10 year moving as well. We were 61. 50. We are now at 59. The trade news, the massive catalyst completely changing this trading session. Vonnie back to that news now, china saying it will hold its next round of trade talks with the United States in two weeks. Conversations will take place over the phone. The u. S. Is also delaying tariffs on certain items until december. Joining us from our washington, d. C. Bureau is shawn donnan. Here in our new york studio, we have Damian Sassower our of Bloomberg Intelligence we have Damian Sassower o
Im not a fan of his and have not been for a long time. Nthony is out of control he does not have what it takes. He wanted to come back into the administration for the last five months, begging me to come back in. I said, anthony, i cannot take you and, i am sorry. He is a nervous, neurotic rack. He called so much and i said, anthony, im sorry, i cannot take you in. You have to stop all of these phone calls. Too many calls. I would not take his call, and now lo and behold anthony is upset because he wanted to come back into the administration. You remember better than i do that he was a disaster. [indiscernible] pres. Trump we have tremendous plastic from asia and china. It is not our plastic, it is plastic floating over from other places. Our plastics are fine. We have to know what to do with them. Other countries are not taking care of their plastic. They have not for a long time. The plastic we are getting is floating across the ocean from other places. [indiscernible] background che
Much as 2. 5 after those headlines, now back down to a healthy 1. 5 of a gain. 2925 is where we are. Etail and apparel makers tens spread doing well. The peso in argentina improving just a little bit, but still weaker buy another 3 today. On when we goter those headlines, we saw massive strengthening and the offshore yuan. We are reversing that again a slight little bit, but we went right through the seven mark and 699. 08. Guy the Trump Administration delaying tariffs, as weve learned this afternoon, on some chinese goods until middecember, including iphones. Apple rallying strongly. Buyd by having it best having a pretty solid day as well. We are joined by bloombergs mike regan. The market was feeling its way on the downside. This feels a bit like a short sweep. Do you buy the move . Reporter people are obviously buying it, with the caveat that who knows what the next headline or tweet might send it in the other direction. I think the surprise here is maybeeople were worried Presiden