Important. Stoxx 600 risk rally beginning to fade. Definitely off of session highs, approaching session lows. Stocks still appear to be relied risk on appear to be largely risk on. Bond markets also not sending that signal. Btps moving lower another two basis points. Different signals coming from different asset classes. The spread is not particularly big, but i think it is worth paying attention to. Vonnie that person i was speaking of is from pimco. Home depot falling after it cut its growth forecast for the rest of the year. Similar story to kohls. Reaction now on whether he thinks the American Consumer is actually going to tip things over here in the u. S. And globally. He is pimcos Global Economic advisor. He joins us from california. Should we be worried about the u. S. Consumer . Guest i think we should be. The consumer is always the last shoe to drop. It has been holding up pretty well. The rest of the economy has slowed sharply. Manufacturing is in recession. Companies have cu
Virtually all subpoena 500 sectors are down. S p 500 sectors. Thisjackie deangelis is here wat breakdown. Reporter good afternoon, neil. October has gotten off to a rocky start i would say. The fundamentals of the u. S. Economy had been holding up but the data is signaling that there are some cracks there. Today es nonism manufacturing number is important, showing slowing growth in the Services Sector. Reading of 52. 6 is down from 53. 4 in august. Fed cutting Interest Rates, reacting sharply, forecasting another quarterpoint move lower at the fomc meeting at the end of the month. The number is essentially neutral but it indicates sloyer growth here. We earlier saw a slip in manufacturing as well. You combine two of those things there is definitely a red flag. Meantime bed, bath beyond, increasing number of stores it is planning to close. In april it said it would close 40 stores. Now that number bumped up to 60. Retailing in general, 4600 store closures for the year announced by u. S.
Estevez in that movie. Charles just hope you never have to meet em in real life, theyre rough. Liz charles, thank you very much. Folks, weve got a special edition of the claman if countdown due to multiple plates in the air that are scheduled to start spinning in the next couple of minutes. Weve got stocks right now mixed at the moment. The dow is down 14, s p up 16. It just needs a gain of 19 to hit a new record. Nasdaq up 92. And we are conning to watch this mixed picture, but mostly higher due to the benign inflation read. The 2year yield has been falling in response. Weve got it down 1. 6 basis e points, off the lows of the session. But, look, does anything about that january pce Inflation Report change . Blackrocks bond guru rick reiders timing of the Federal Reserves first Interest Rate cut . Rick is coming up in just a moment the tell you. In the meantime, bitcoin very quickly here continues it epic climb. Coming up in this hour, the ceo of Bitcoin Miner marathon digital is here
Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the sec. Thank you, mr. Chairman, for attending here today. Oversight of the sec is a critical function of this committee and it has an important threepart mission, to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public a
Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the sec. Thank you, mr. Chairman, for attending here today. Oversight of the sec is a critical function of this committee and it has an important threepart mission, to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public a