Continue to drive Growth Stocks are poised to rally ahead of what could be the feds first rate cut since the crisis. And gaming headwinds, amd delivering a revenue warning first up, apple rising on the better than expected results iphone down from a year ago and now represent less than half of quarterly revenue for the first time in about seven years. Yeah, headlines today in the papers are staggering. New york times, apple reports declining profits and stagnant growth again wall street journal quotes richard cramer, no relation. Were these people on the same call maybe they were on the rotten apple call, i was on the straight apple call. I heard a situation where you are going to if you actually think out in the out years, it is a Service Company with the best Customer Satisfaction there is and when you get an appliance of which there are about 1. 5 billion, you are beginning to take either apple cloud or the app store, the ads, i think that you will be looking at the credit card star
President once again targets the fed. Huawei restrictions relief tech executives expected to make their case to the white house today. And equifax to pay as much as 700 million for that 2017 data breach well start with futures, though, set for a higher open. The dow, s p and nasdaq all lower in three of the past four trading days big week for earnings. Well hear from phobia, amazon, alphabet were a week away from the feds decision on rates. And then the president today is tweeting its far more costly for the fed to cut deeper if the economy actually does in the future turn down very inexpensive in fact productive to move now the fed raised and tightened far too much and too fast. In other words, they missed it big. Dont miss it again. Of course now the fed blackout window is in place so we wont get a response to that, jim, before the meeting. Look, the president is he wants that last hike repealed. I think that we have to hes obviously a lightning rod beyond belief, but its perfectly r
Nasdaq up by 33. However the new york fed, bullard as you mentioned and others are pushing back on this idea that a bigger cut will be coming the new york fed itself putting out headlines saying that speech was not about potential policy actions at the upcoming fomc meeting, this was based on Academic Research done by John Williams i dont ever recall hearing the fed walking back what somebody was out there saying a lot of fed president s have spoken to us over the last 10, 12 years at this point pushing become a bit on that. Lets look at what happened overnight in asia. You will see the nikkei was up by 2 . Big swing back for it. Hang seng was up by 1 the shanghai up by 0. 8 . Again, the nikkei reversing course after the weakness we had seen the day before. European equities this morning, you will be seeing green arrows there. The dax is up by 0. 3 . The cac and ftse up by 0. 2 . Italy and spain weaker italy down by 0. 9 look at the treasury market. Right now on this friday were headin
Main drivers for todays action. Coming up, sara eisen will talk exclusively to boston fed president eric rosen gren. These will be his quiet moments before going into a decision joining us for the hour is jim lacamp, Senior Vice President of Wealth Management at uvs i feel like when you look at this market there is a Little Something for everybody. You can find a reason to be bullish, bearish, we are all awaiting the feds decision what do you make of todays action and ahead of the fed decision. We have seasonality coming up, too, late july to late october is usually our most volatile time period in the market risks are symmetrical right now. We have upside, corporations are doing fairly well if you break it down to individual stocks and companies and a few sectors, theyre doing extremely well, and we have a tenyear treasury yield that is lower than the yield on the s p 500 so rates are very friendly, particularly if we get a rate cut, we think half a point based on what the fed governo
Fed vice chair. Richard clarida is out of the running. Betty we are watching for the fed news. We continue to watch the gains in the equity markets. I want to pull up a chart that basically everyone can go home, right . What i mean by that is that already with the record rise we have seen in the s p, a lot of these yearend targets are already being blown out of hsbc, Morgan Stanley, bank of america. Already being reached. Everyone can go home, they have made their money, right . [laughter] yvonne i guess so. It was interesting in that it has been four days but it really feels like 40 days in how much we have gained in the last couple of days in 2018. Big question is will we see a revision higher from analyst or are things good as it is or are there for the risks ahead . Betty that might have been what hung over the markets today. Lets pull of the boards on where we end up for u. S. Trades. A mixed trade. The markets trying to eek out. The s p by 2 10 of 1 . The dow essentially falling