Index, measures the strength of manufacturing slips to the lowest level since 2009, everybodys going to freak out theyre worried about a recession. Which is why the dow lost 304 points, s p 5001. 23 and the nasdaq dropped 1. 13 that was last week now this market was due for this beatdown but i also told you that i dont believe were headed into recession. Im standing by that position. But the recession thesis became more compelling today and you need to get your head around it if you want to understand this market so let me lay it all out for you. One place. The single biggest problem behind the recession thesis is the president s trade policy but maybe not the way you think. Trumps towers and chinese exports have done realdamage t the chinese economy. Second largest in the world. As china falters, it is taking the rest of the trading partners with it, especially europe, throwing worries about brexit along with a lack of fiscal stimulus from germany and you have a worldwide slowdown goi
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.
A hearing now over, now complete, for the day in florida. That is where former President Donald Trump has been all throughout the day. His attorneys have attempted to convince judge ilene cannon to toss the 32count Criminal Case against him involving classified documents found at maralargo. Andy mccarthy joins us in moments and also later we will speak with the new rnc cochair, lara trump, who is here with us on the story as well. A big sign of where democrats are putting their focus as november approaches. Moments ago, Vice President harris in an unprecedented move for president or Vice President. She has visited a planned parent hood in minnesota. As i said, this is not happened before for a sitting Vice President at an abortion clinic. Watch this. In this environment, these attacks against an individuals right to make decisions about their own body are outrageous and in many instances just plain old immoral. How dare these elected leaders believe they are in a better position to tel
I do want to go best chuck my money out of those here and thats how we do it. On the 77 percent. Sure. This is what we tackle the important issues affecting the lives of africas youth. When you come, laura and its my pleasure to have you here. This weeks episode is all about the power of music. Gumby. I feel that is us fellow i to slide music in 26. 00 a full in flight nigeria, the legendary tween dropped dual p square. Tell the 50 foot just startled and revisit the engine safety vip and the saw her off to the let me take you over to the dumb via with wrapping legend and political icons to that is talks to fellow musicians about what makes music so powerful. The various musicians gave us the perspective on the importance of people and politics and the how it empowers the youth and god bins in general, present love everybody. My name is kind of a rap why and human rights activists from the gap here west africa, as gambia from a context has been given, include a few years of dictatorship
New yorked. Jilgillian turner. We have kevin oleary and jim jordan. First up, President Biden addressing the backlash from within his own party for using the word illegal last night in referring to migrants. Take a listen. Do you regret using the word illegal last night, sir . Probably technically not supposed to be here. Well have more on that with democratic senator chris coons. He co chairs President Bidens Reelection Committee and we got more from the head of the Border Patrol union. Hes responding to the president s state of the Union Address. Last night saying the union endorsed the bipartisan bill but claimed the bill was derailed by politics. Heres Brandon Judd Telling Martha Why The Union supporting the bill. President biden has put us in this situation. Hes put us in the situation that we have never thought that we would ever be in. Were apprehending seven times more people than what we normally apprehend. We have more than ten times the gotaways. We have more fentanyl coming