Needle for investors were going to talk about weworks embattled ipo plans and play the long game, thats the white houses message for wall street on china trade stocks pointed to a muted open today. Apple is set to unveil the latest new Iphone Models and other product updates today, features on the phones might include upgraded processors, new camera functionality, the event will take place at the headquarters in california, beginning at 1 00 p. M. Eastern time jim, talking about what else we might hear about, content, some shows rolling out in the coming days i think they have some exciting tv. I want to see trailers i think people are underestimating what they have been working on. I would love to hear more credit card i think that it is too early i do think anyone with the watch, the iterations are getting very exciting. The watch sales, youll hear incredible numbers, i believe. Service revenue very strong. Not sure exactly what to say about the 11, because they have been pretty clos
Expectations china vowed to retaliate against u. S. Tariffs set to go into effect september 1 were now on track for a higher open lighthizer said its not possible given your past behavior so an awful lot to absorb today. Very interesting that the futures are up exactly the amount they are right now. They issued a very strident set of words toward us at the same time, announced stick l stimulus for hong kong where is what the president said on twitter what happened and without that, i think theyre going to view the olive branch of moving back to december as an illadvised move because the chinese arent playing ball were going to have Chuck Robbins later on this hour the chinese derailed their outlook. Asking them not to bid on business things are getting very, very tense. If we let that dominate the headlines and forget to look at what walmart said today, i think well have a false narrative because of how bad things are. Remember, we are not a big export nation. But yeah, the gloom is pr
The nasdaq got spanked and slit 1. 6 but the average value 29 points in an it is passion of the upcoming rate cut, the first in ten years allow me to set the stage, on wednesday fed chief jay powell will give us the read on the economy and announce a quarter point rate cut to breathe now life into a business situation for many different industries. I know there will be sticklers that say with unemployment with the lowest level since the 1960s, it is ridiculous for the fed to think about cutting rates. Others like President Trump think a 25 basis cut isnt enough the president endlessly tweeted the Federal Reserve is way too tight monitory policy has been holding back the economy did it again today when your Interest Rates are too high, the currency gets stronger versus the rest of the world our rates are much higher so the dollar is very strong and makes the internationally Oriented Companies far less competitive and can hurt the Auto Industry and housing industry both of which are weak
But still red for each of the major indices. Joining us for the full first hour of the show Courtney Gibson from loop capital markets. Courtney, thanks for joining us. Whats your take on today . Investors in a sort of holding pattern, are they, until we get to the fed unbelievable holding pattern. I mean, volumes are down precipitously today. At least they were before i came on the show today. I talked to our equity desk at loop capital and in the u. S. Alone volumes were down somewhere near 30 and even in europe spain was down i think somewhere near 40 on volumes our desk flow today was down substantially as well. It looks and feels as though investors right now are really kind of sitting on their hands markets as you can see, dow down just slightly but recovering back to the highs of the session. Russell is lagging down 0. 7 utilities, real estate the bestperforming sectors. Energy and tech towards the bottom we have got apple down about 0. 7 , albeit higher for the week broadcom wei
The streets, we have to continue our protest in order to get by the government in order to get the extradition bill be withdrawn and also carrie lam to step down. Amy up to 2 Million People fill the streets of hong kong in the territorys largest protest in decades. The protests have forced the suspension of the extradition bill but activists are now demanding hong kongs top official to resign as well. We will go to hong kong forhe latest th 16 sho. A w documeary lookat the 14 chica police lling of 17earold quan mcdald and an ccagos coveup. Here idashca veo that contracts the ficial sry. Hat we saw, our onion, was firsdegree mder. Tre is escalion of involvemt from pple acro the city. Jtice fors is jan van dyke being convicted of the rder olaquan monald. Amy we will speak to rick rowley, the director of 16 shots. All that and more, coming up. Welcome to democracy now , democracynow. Org, the war and peace report. Im amy goodman. In hong kong, as many as 2 Million People took to the stree