by that, they mean temperatures of 90 degrees or more. let s get the read from mark meredith at the white house. you might recall that mark was whining about this just yesterday. on double duty now. how are you holding up, my friend? reporter: says the man in the air-conditioned studio. neil: i m going to turn the thermostat down a little more. [laughter] reporter: unbelievable. good morning from a very steamy white house. 88 degrees, we re expecting the high to be 97. we also expect the president to stay in the white house isolating. white house says we should be getting an update from the president s doctors a little bit later on today. they re not going to be providing that on camera, however, the white house has been going to great lengths to show that the president is still able to carry out his duties. late yesterday as we were coming on the area for air for your show, we saw the president holding an event with his commitment take, we team, and then at his desk
And then we have the fullyear forecast of like industrial names you need in your portfolio. And wall street pessimism jamie dimon and others having sharing their view on saudi arabia. And good morning to you, im alix steel along with my cohost guy johnson. It is good data here in the u. S. Guy good data for the u. S. And not for europe. The pmi data, a real gap beginning to emerge in terms of economic performance. It will be fascinating to see how the ecb addresses that. But you have the story when you look at rtx, ge, and 3m today. All the stocks are doing well. It is fascinating. We talk about what is happening with the end industrial economy of the states and is it counting back . Alix above 50 and they are being rewarded for the beat. It is a story that is exacerbated by the positive data. Guy are we talking about this just because tech has not arrived yet . Alix probably. Guy they will be out later. Are the industrials in position where they can take in peoples portfolios . Will w
Surveillance. Annmarie hordern and Lisa Abramowicz. Jonathan ferro will be back. However, today we are happy to have brian levitt with us for the hour. Who has been absolutely right at a time when everyone has been looking for signs of greater disinflation starting with data about 2. 5 hours from now. Good morning. We are looking at market that are doing pretty much nothing. They did pretty much nothing yesterday as well. Brian, are you still a fomo kind of guy . Brian i am. Everybodys talking about the fed, they are so concerned when the fed is going to move and by how much. The reality is, markets historically have done very well with the fed on hold and the economy reasonably strong. We are still in a good nominal growth backdrop. I know everyone is going to be staring at that tens place in every inflation point that comes up. I think we are in a place where inflation is going to moderate and these markets are likely to press higher. Lisa at a time when we are at the twilight of the
Front and center and for us to consider. How do you see things now . I see things as a safe haven trade is in place. I still look at the environment and see a disinflationary trend and slower Economic Growth and the horrific growths of the weekend do nothing to reverse those two conditions. Thats what i see in front of us. I believe bonds over equities is where youll see more of the valuep opportunity, but within the equity market you still have the areas where there are strong tailwinds and we know thats the magnificent seven. You can make the case that energy is making a little bit of a comeback there in that regard an the defense stocks. Most immediate, im glad you brought it up, forgive me for cutting you off, but i want go there, you bought the ita . I did. We had maintained position in the quality momentum strategy to both Lockheed Martin and nor Northrop Grumman over the last several years. We exited those positions. Nothing that could be effective in that strategy until the end
Nasdaq up 27 . Again, the dow has been weak over the last several trading sessions. You are seeing the issues going on and the bigger deal is the russell 2000. It turned negative for the year yesterday. It is a huge pullback with the dow industrials and russell. All these pulling back with the potential for recession. These are the things we watch along with treasury yields and inversion in the treasury yield curve. Twoyear yield at an 5. 1 . Above the 5year and 10year and 30year. Those yields picking up is what we are watching. Yields are picking up because the economy is strong. Why is the dow and russell indicating otherwise . Maybe it is so strong that the fed has to do something. If they do something that is why. They have to go further. Here we are. Dijamie dimon made comments yesterday. He said it could go 7 . He said it is not something he is predicting, but you have to prepare for it. Thats what he told his board and clients. Prepare for it. Dont be surprised if rates are high