By. 7 the hang sang was up by 2. 1 the shanghai composite up by 2. 1 in europe right now where there is active trading taking place, green arrows across the board. The biggest gainer is the footsy up by. 8 . Quick check on treasury yields which was so closely watched last week when you saw the temporary inversion in the middle of the day between the 10s and the 2s this morning, 1. 618 the two year is 1. 15 so showing more room than we have seen over the last several sessions. We have a huge week ahead for wall street. Kicking off today, big tech executives testifying at ustr hearings then tomorrow, quarterry lults from home depot, kohls and t. J. Maxx wednesday, fed reports on existing home sales plus reports from lowes target and l. Brands and thursday jackson hole symposium kicks off where, of course, Steve Liesman will be. All leading up to fed chair jay powells big speech which will take place on friday but meanwhile, we want to pivot right now to an update on the big story over th
Deal as President Trump says he is scheduled calls with president shi xi jinping the highest this session was 334 on the dow coming up, gregg lemmkau live and exclusive. Lots to talk about with him on the market merges, ipos and the outlook for the rest of 2019 joining us for the first full hour of the show, keith bliss. Crazy week, now only down one percent. Talk us through the roller coaster five days of trade, the key levels that we have and havent touched. Sure. So overreaction. My theme has been overreaction and you certainly saw that in the monday night going into tuesday trade, a lot of what you have in the market today is a lot of program and algor rhythmic trading as opposed to humans die jesting the information. So you saw that overreaction we actually touched another oversold level that we had picked up from august 5th. So we were already oversold. That just went further down and the yield curve, the 210 inversion was only a basis pointer too and the amount of selloff was ce
The fed gave us what we wanted, the market implodes. Dow plunging 334 points, s p plummeting and nasdaq 1. 19 down honestly, there was Nothing Shocking about fed chief jay powells statement but people dont understand how the game is played its insurance and not the start of the easing cycle. That upset everyone hoping there would be a lot of rate cuts galore including those betting the dollar would decline the fed is supposed to be cage gee about this remember the last time powell told us the longterm plans in october, the stock market crashed. Promising a series of rate hikes was a big mistake. Hes not going to make the same mistake here by promising a series of rate cuts. Hes not stupid. Of course, President Trump piled on how powell let us down. You can say that trump let us down by firing yellen who is much closer to trump and putting powell in, and enough powell bashing for heavens sakes hes on the case as there is plenty of evidence, positive news enough to befuddle some fed watc
Debates. While she focuses on the border, the economy is expected to play a significant role six hours from now, as warren and nine other hopefuls explain their position on all topics, social and economic and business. We will get you on the ground in miami coming up. Plus, is it a diamond in the rough, as bitcoin finds its feet again and sprints into the final hour, even higher. Could a new crypto currency tied to the precious stone be an investors best friend . You got to hear about this one. Remember the time billionaire David Mccourt was a cable tv employee and didnt get paid for his work laying cable . How he responded and what he did to get his money. He says its a lesson you should take to become a top disruptor in whatever youre doing, in whatever business. Hes here to share his secrets to success. Whats elon musk doing to get teslas stock up 18 this month alone. Charlie gasparino says cbs and viacom may be about to press the reboot button in their remarriage talks. Less than a
Historically a tricky month. How much, though, does it have to do with the turn were starting to see and the data . The calendar itself, sure. The data are what they are in terms of performance but its want been bad when you have the market up, 10 or more. To me thats one of the things you keep in the back of your mind. The seasonal weakness was mostly felt in august. Either the turn in the data or just the fact that were not being able to escape the late cycle back drop. At least psychologically. When you have employment down to 3. 5 . The fed has been tightening for a year and a half,ist time to wonder, how much longer can the cycle last . Theres not much to observe in the numbers, aha, its here, the soft landing is a fantasy, its not going to happen. As many have said in the jobs number is consistent with a soft landing. Who knows. Consistent with descending into Something Else . I think the biggest risk in the near term is that longer term yields keep going up, and not just because