Toward em debt. He also weighed in on the fx manipulation debate. The currency weapon has been on the table for a long time after the chinese have used that weapon. Manus a warm welcome to daybreak europe. Lets tell you what is going on in the market. What is happening with the dollar . Will we see a new form of fx wars . Bloomberg dollar index, this is five days. We have been down three days in a row. Is it slippage or selling . Europe, slams china and both in terms of their foreignexchange policy big currency manipulation game, and the question he poses. Do we need to match or continue being dummies . What does that mean for the market . We will look at risk on and risk off assets. Gold we just talked to mark mobius. Everyone should have a little gold in their pocket. In the next fed rate reading cycle, the last cycle gold flew to the heavens. We will delve deeper. Oil, a little slippage in the market. Stockpiles were down for the third week in a row. Globally, the market is debating
Track . And a double downgrade for one stock. The Halftime Report begins right now. Welcome, good to have you with us. We have our Investment Committee at the table we begin with the markets, stocks higher following two days of system by jay powell who laid the ground work for a rate cut later this month the attention now turning to earnings which begin on monday i feel like weve got this halo effect from the fed that will last a while you sure do and it is interesting the market is taking a bit of a cyclical shift if you look at what is leading the market so far, it is energy, communication services, technology, consumer discretionary. So the defensive bochbd approximabond approximate is city m proxy mentality has moved away if the expectation is so low, everyone including myself saying, well, okay, here comes earnings it will probably be better than we expect and all the other perceived head winds weve pushed out of the way. It would be remarkable if earnings were not good powells ti
On employment rate remains low at 3. 7 percent. As of june according to the bureau of labor statistics. We just had continued rising as well. With average Hourly Earnings 3. 1 higher in june compared to a year earlier. It is the 11th straight month in which wage growth exceeded 3 . In fact the u. S. Is officially in its longest suspension of Economic Growth since 1854. In order to continue this positive economic trajectory they must continually evaluate their regulatory and super very activity. To ensure broad access to a wide variety of Financial Products and services. With respect to regulation and supervision it has been over a year since the enactment of s2155. The Economic Growth wreck regulatory relief. As you move forward in finalizing certain rules required under s2155 and consider proposing new ones consider you to consider the following. Simplify capital rules for smaller Financial Institutions. While ensuring the maintain significant capital. Simplifying the vocal rule which
26,828, also would set a record. Its the first time it would be the First Time Since october of 2018. The tenyear treasury yield falling to its lowest level since 2016 as we see yields globally fall as well. Were awaiting the key june jobs report as well due out on friday morning. Nasdaq only just off its own closing. Dow and s p comfortably in that territory. Josh brown is with us from ritzhold Wealth Management great to be here. Youre always here on these record high days you keep the market going higher they book me far in advance, though, so i cant take any credit what are you watching in terms of the slightly disappointing data does that concern you or not im concerned all the time. We have a saying that only price pays so you can look at everything that you want and knock yourself out, but at the end of the day, if youre looking at price, its impossible to be bearish you cant like what more do you want out of a market s p 500, new highs more importantly, xly, consumer discretiona
A look at these currencies, hich we appreciate the dollar, as we do have dollar weakness. Lets get to the hang seng. Its beating all the worlds major equity gauges this week barish thing. This this isnt necessarily a death ross, its a 50 day moving average, rather than the hundred day one. 200 day line but quite often does proceed market declines in the past and investors arguably may be about too optimistic next weeks meeting between xi donald trump. There could be an overreaction to the current position with that. To hang seng giving up some of the guns but not by much. Well see what happens. Ets get more on the markets right now. A good one from our global editor. Cs and policy kathleen is with us. Lets start with you. Aid is more of dove for markets to drink . I think the oomph, the push jay were seeing from powell and the fed, its running its course a bit. Know, 10year treasury yields fell to 2 and pushed below a little bit but i also noticed they are failing to hold below 2 so it