[ bird caws ] im jamie colby, heading toward the garden state parkway. Im meeting a couple of jersey boys who had an old painting in the basement. Could it really be a rembrandt . Think youre heard a stranger inheritance story . Forget about it im ned landau. Neither i, nor my brothers, roger, and steven, had any idea that our mother had left us something so valuable. Neither did the auction guy up the highway. But people around the world were watching. Hi. How are you guys . Im jamie. Hi, jamie. E to new jersey. Thanks for coming out on such a rainy day. Ned, steven, and roger landau grew up here in north jersey, just outside of new york city. Two parents, three boys, on a street where theres lots of other kids. Our father had a small chemical company. They made coatings and industrial finishes. Three boys cant be easy for your mom. What was she like . She was an expert yoga professional, and this was well before yoga was a thing. My mother was almost like a flower child. Lyla landau
House Economic Advisor larry kudlow someone we know and love worked here a long time. Saying that the u. S. And china are getting close to an agreement. He described the talks being very constructive in his words saying the mood music is very nice that has not always been so in these things. He sded that the president is not ready to sign the deal just yet. Also getting word in china, vice premier lu will be holding principal level calls today we are up 60 points about all it is worth, i would say. Right now, hong kong confirming overnight that they have plunged into the first recession in a decade. That marks the second straight quarterly decline. The Financial Hub has been suffering from violent protests, the u. S. china trade war the week of rage continues to boil over. Well get over to matt bradley for more on that andrew, yes you are right. This has been six months of protests this started with the extra diction bill that started over the summer that has been drawn. You can see un
Records. The dow 28,000 thanks to optimism on a trade deal, ral in Health Care Stocks and uppete report on retail sales, an indication the consumer which has been powering the economys still strong. Here arenghe clo numbers. The Dow Jones Industrial average rose 222 points, to4. 2800 the nasdaq up 61 and the s p 500 added23. The sixth straight weekly gain for the s p 500. The longest win streak for that index since 2017. Bob pisani takes a look at what to make of the bullishness. Another day of record highs. The s p broke out of therading range into record territory, universityia is growing and pretty fast frankly. A number of technicians have but notust the chartists ently feeling good about the trends. Eventrategistnd everyday Retail Investors are getting gunning hoe on the market. Barclays for example s that small caps are at a turning d point and poio outperform. Morgan stanley also saying a key rotation from Growth Stocks to value stocks is beginning. Even the average Retail Inves
Decline. Biggest drop since 2009. A real freeze that has hit the manufacturing economy. Thats right. The lowest ism reading this is a kind of this 340 versus last month survey sometimes market moves are inscrutable. Yesterday, markets were up clearly just challenged this idea that the u. S. Economy was resilient enough we are constandly talking about increasing recession fears. Suddenly this data point comes along. The consumer, in 2019, are we dependent on manufacturing to the extent we used to be no. Not even close it is a great swing factor it doesnt go down that much but it also accelerates that much. You take a look at treasury yields yesterday as soon as this number hit 0 years at 2. 089 . We were above 1. 7 on the 10year yesterday. That shows you the market is saying, okay, the fed is likely to give another cut in october not a sure thing probability right now. The october adp report will be released at 8 15 eastern. Reportedly added 120,000 private sector jobs last month johnso
Maria good morning, big show this morning, coming up mit professor of oh economics and obamacare architect is here to talk democrat medicare for all professes, International Policy analyst richard here to talk iran, lots to talk about this morning, dont miss a moment of it. Rally underway, joining the conversation fox business Dierdre Bolton and wall street journal Editorial Page Editor James Freeman and host of the secrets of wealthy women podcast veronica dagger. Happy friday. We have a firmer tone this morning, stocks surging earlier in premarket also the highs right now, but still higher as markets continue in rate cut, 2day meeting, july 30 or 31. 25 basis cut and this morning to you i keep thinking of microsoft, what a huge surprise that was the First Time Ever that Cloud Business just rocketed. But stock was left for dead, right, after the eu declared monopoly, its not just a oneman show. Maria leadership has helped the company. Yeah, for sure, i wonder why is it a 90 chance of