Wall street is poised for a higher open. The historic impeachment of President Trump. Secretary mnuchin will join us exclusively in the next hour. We will discuss the postimpeachment economic agenda between now and the election the house readying that vote on the usmca, an important trade agreement. Plus, chips are continuing to outperform the rally the ceo will join us in squawk ali and iac is spinning off an online match group, all of it, shares are climbing ahead of bell now you, we begin, of course, with the market, one day after the impeachment of the president. Its an interesting evening. Yeah, it was. You know, david, this is the beginning of an under performance period if we find if we analogize to clinton. The only difference is that there were democrats who joined republicans in the impeachment process because they thought it was a cut and dry violation the lying about the section act. It was one count of perjury about lying about the sex act. You said there was a little more
Slowing economy. Joining us for the hour, stephanie link great to have you. What do you make of this market right now . I have fatigue over trade i really do. Its impossible every day it changes. So im trying to ignore it and focus on fundamentals. Today i thought we got some good data on the economy. The philly fed better than expected vince were better than expected meaning he they went own maybe were bottoming. Lets see the flash pmis tomorrow existing home sales up 5 yearoveryear good consumer, lets talk retail earnings have been very good Minus Department stores and some one office. I think that bodes very well for the consumer fatigue over trade but excitement over m and a. Very much so. Im still excited by trade. Im more excited about bristolmyers closed earlier than expected. Thats a great story for 2020. So theres a lot underneath the surface to this market of whats going on and thats what im trying to focus on versus trade. Lets get straight to that big story, the potential c
Conference calling to defend the freedom of the press. Those are the headlines this hour you can find more on these and many other stories. For now though its the cards report and if youre in the states you. Because youre this is the guys very poor we are going to maintain their San Francisco great event put on by a big going magazine but a great speaker of great talk about theyre going to fully embracing a new leg of its bull market very exciting action susie yes well you know were in our whole Summer Solutions beginning of that happening were in summer were into la its all like happening and we have this remarkable tweet here and its from another big player because you know this big move that weve seen a big client and its still very volatile and you know you do your own research of course when whenever buying restacking sats as they call it and never invest more than you can afford to lose but here is the latest movement in big. What is quite apparent and has been discussed at this
Family Office Accounts Corporate Accounts various manage money accounts is over 100 trillion just sitting there looking for something to preserve wealth and that something will be increasingly big coin well says. Everyone agree with out. There on there im getting the standing ovation now wherever i go people throw flowers. And they think me profusely now but still i question is looking out is that trust let me share. Mine because gold has always been a safe haven during times where nations are de globalized and where they dont trust each other and that is when people turn to gold and now people are bigger institutions and nations might be turning to big coin but on the individual level where there retell hers. And operates one thing you see over and over and you saw that with you see it with Elizabeth Warren and what they do is they mention that its a rigged system. And gold are ways to escape that rigging the manipulation and system rigged towards a particular participant in that syst
A segment with invesco chief Global Market strategist Christina Hooper is the ultimate safe haven trade she says that might not be too far fetched well certainly there are a lot of safe haven trades and ive heard some strategists argue in fact that bitcoin is a safe haven trade or perhaps an indicator that were very close. I think that might be a sign of fears about recession but but certainly it makes sense in this environment that we see investors looking for safe havens but i do think its a mistake with the fed signaling its willingness to be a lot more dovish right well the main idea of decline is safe haven 1st talked about on this show few years ago as being the ultimate safe haven better than gold to be a safe haven and that a lot of money moving into big going was the result of safe haven funds risk off money when the risk in stocks of bonds gets too high theres a risk. Off feeling in the markets and institutional money starts looking for safe havens becomes a safe haven this t