The Foreign Relations committee of the United States senate will come to order. The chair would note we have a full house today and an enthusiastic audience im sure. Wed ask you to be respectful. Remind everyone that holding up signs or making verbal outbursts during the proceedings is disruptive. And appropriate action will be taken. If needed well suspend briefly to restore order. This morning we have a hearing on a matter that is really of a pressing National Security importance. That is the relationship of the United States and for that matter the world with iran. This hearing is intended to do three things. Number one, we will consider the facts behind the maximum Pressure Campaign against iran. Well examine the elements of irans necessary behavioral changes. And thirdly, assess irans willingness to behave as a responsible member of the International Community. Irans pursuit of regional domination following the 1979 revolution transformed the fabric of the middle east. The Iranian
In part because the chinese did respond to our last hike in tariffs. A spokesman for Chinas Ministry of commerce quoted as saying that escalations of a trade war wont benefit anyone two sides still planning to meet in september of course, much of this rhetoric or communication is what weve been seeing for some time. I dont think any of it necessarily means the chinese are not still in a stance that sort of has them backing off from full engagement that somehow would lead to a deal in the near term. I think it was a surprise olive branch, maybe, taken as good news by the markets that things werent going to escalate even further at the moment but youre right, in terms of a deescalation, theres not much evidence september 1st, this weekend, were set to have a new round of tariffs go into effect on products coming from china into this country smart watches, bluetooth headphones, flat panel tvs, some footwear december includes cell phones, laptops, clothes, and toys the retailers that repor
Listening to chris hogan and yak is so mart so thats momma mcdowell summary of the panel. Futures are pointing higher this morning as earning season really pix up steam. Dow components United Technology travelers cocacola and visa all report Quarterly Results today along with Lockheed Martin and snapchat. 17 of the s p 500 have reported Second Quarter results 77 beating their earnings per share. Jackie what are you watching this morning in terms of the big movers here . Well overall were seeing good fir for earnings and thats when investors cared about going into this earning season. Youre seeing companies that are beating on ets and not hearing commentary oh we have problems in china thats what everyone was looking for. And youre also not seeing anybody really give any cuts on guidance Going Forward as well. And this was really important to support the rally that were seeing in the markets so thats investors know it is not all fed driven, of course, this week is going to be a really b
10year yield is below production broad base slow down in demand chewy debuts at the nyc and biden verses amazon. A lot for investors to digest today. Retail sales is the latest thing. I these are the people who ae focused on the feds. There is to reason to cut now because retail is not that bad may was okay not great, not bad what matters is this book. And it is significant because hock t hock tan missed by 2 billion revenues thats the president a billion of just the overall slow down. Now we are starting to get it. Now we are starting to see why the fed has to be worried. 22 billion in sales and it is being heard. That means everybody is being heard. If you miss what hock tan said last night, you got to listen to this piece in the Conference Call. It is clear that the u. S. china trade conflict including ahuawei is creating economic and uncertainty as a result, volatility have increase and our customers practically reducing inventory levels to manage risk. Maybe this gets the white ho
Some areas than others. Caroline perhaps more idiosyncratic. Lets dive deeper. Abigail, what are you watching . The contrast between the close on the day and the close on the week. On the week, all major averages higher. Lets dig into the technicals. There is reason to believe that could continue. This goes back to 2011. When the s p 500 consolidates down and then pops, the bulls are resting. The sellers trying to push through. The average continues to climb. There are several moments even last year at the beginning of last year, we had that volatility. 500 to newd the s p alltime highs. Appears to be a similar situation with the s p bouncing off that 40 week moving average. The s p 500 might rise above that alltime high. Maybe towards 3100. Perhaps the fed meeting could be a catalyst. Upive been watching oil, around 0. 5 on the day, close to 3 over the past two days. The rally not enough to keep oil in the green on the week. We are headed to a decline of more than 2 on the week. That