Every day we try to figure out what is ailing this market. This week i looked up the fabled july 15, 1979 crisis of confidence speech to see what jimmy carter said during a period where america was suffering from a collective malaise. And i quote, for the first time in our history in the history of our country, a majority of our people believe that the next five years will be worse than the past five years, carter told the nation. Again, quote, it is a crisis th and soul and spirit of our national will, end quote. Of course at the time we were suffering from gas lines caused by an opec embargo, and from wild inflation caused in part by a weaker dollar that eroded our savings. Now the price of oil is on tenter hooks after being cut in half and its the dollars strength thats hurting earnings. Theres some kind of aversion to owning stocks which i think is part of a genuine belief that the future will be worse than the past for many americans. Carter talked about a poisoned political envir
What is ailing this market. This week i looked up the fabled july 15, 1979 crisis of confidence speech to see what jimmy carter said during a period where america was suffering from a collective malaise. And i quote, for the first time in our history in the history of our country, a majority of our people believe that the next five years will be worse than the past five years, carter told the nation. Again, quote, it is a crisis that strikes at the very Heart National will, end quote. Of course at the time we were suffering from gas lines caused by an opec embargo, and from wild inflation caused in part by a weaker dollar that eroded our savings. Now the price of oil is on tenter hooks after being cut in half and its the dollars strength thats hurting earnings. Theres some kind of aversion to owning stocks which i think is part of a genuine belief that the future will be worse than the past for many americans. Carter talked about a poisoned political environment but the partisan rancor
Ford. You got to try to figure out i know david is completely driven by this idea of the driverless car. Well, were going to be in one, but we wont be driving. Jim, were going to get a lot with you in a few moments. In the meantime stocks are up three or four sessions, but a lot of bets may be held today as we await the brexit vote tomorrow. Europe relatively steady, a lot of earnings to get to and by the way oil did reclaim 50. Road map begins with the countdown to brexit. Were live in london with the latest on which way it could go and how Global Markets are reacting. Teslas offering to buy solar city, the price tag about 2. 8 billion. Were going to get elon musks take on whats really behind this offer. And shares of fed ex sinking after earnings. Well break down the numbers you need to know. But first up ahead of tomorrows uk referendum on eu membership, a number of polls have the outcome as too close to call. Wall street will also focus on day two of fed chair yellens capitol hill
National committee behind me bringing this convention into session. Its a convention with high stakes for the Republican Party because donald trump is trailing Hillary Clinton. If you look at our nbc the wall street journal poll just out over the weekend, shes leading him 46 to 41 . Donald trump leads only in the south, trails every other region. Hes got to make up some ground. And hes got a task to both identify a broadly appealing message and also persuade voters that he is up to the job of being commander in chief. Interestingly though as at a time when donald trump is trying to unite the party and his choice of mike pence as running mate was a step in that direction, his Campaign Chairman Paul Manafort has taken a strong stance against the antitrump hold out. This morning he said Governor John Kasich ran against donald trump was not speaking at this convention, was embarrassing his state. Also said people like kasich, like mitt romney, like the bush family members who are not comin
In this darn thing . You get money falling into your lap from mergers, from acquisitions, and from incredible rallies in high Growth Stocks hall lieu wra despite concerns what the Federal Reserve may do, and thats something that weighs on the market every single day, the dow leaked out a 46point gain. S p advanced, as analysis dabbled climbed to an alltime high. The reasons . I think its the endless merger activity. These two groups keep the market from rolling over. Even when you expect after a weak employment number friday . A ton of pes millennium . Or negative numbers this morning . Youve got to admit the negative case does have some merit. But lets consider todays action. Lets start with the blockbuster, that the giant company could snap up monsanto. Listen to me, the idea that you can own a stock like monsanto when it could be on the verge of getting a 127. 50 bid, i find it remarkable. Frankly monsanto hasnt been doing all that well. Prices for all sorts of Agricultural Commodit