Session. Now things, if you can believe it, they arent as a bad as they were earlier in the session. The dow was down 706 points at its low, now down 442. The s p 500, its falling by 31 at the moment. The nasdaq is recovering somewhat from its low of 368 points, now down close to 134. And the russell 2000 is down by 17 points. Of course, those are the small caps, really not great with the Interest Rate outlook from the fed with todays gdp report. And that e do klein set in motion decline showed that the economy grew much slower than expected and that inflation remains persistent adding to fierce over Interest Rates and stagflation. Plus, Jpmorgan Ceo Jamie Dimon pouring more fuel on the fire, this morning he expressed serious doubts about the likelihood of a soft landing. I look at the range of possible outcomes, you can have that soft landing, im a little more worried that it may not be so soft, and inflation may not quite go away. The odds of a soft landing, the market kind of prices
A and putting the eye on the funding measure for yoshi son. It is thursday, september 28th, 2023 and you are watching Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets start the day as we kick off the hour with the check of the u. S. Stock futures basically flat across the board. Dow would open up 30 points lower. It is early. Stocks coming off a mixed session, but down for the month and quarter ahead of the open. The s p and nasdaq are on pace for the worst month since december of 2022 you see the down side action here the nasdaq is hardest hit down 6. 5 we are looking at the bond market yields at the 5 and 10 hitting the highest level since 2007 4. 63 for the 10year treasury the 2year treasury is rising since yesterday now at 5. 13. We are looking at the Energy Market and oil is moving higher to the upside. Oil at the highest level since june of 2022 9 93. 85 brent crude is up with natural gas down. 50 . Lets turn attention back to equ
Ceo at 11 15 cet. Donald trump heads to detroit as white house hopefuls trade barbs in the second president ial debate hosted by fox business eu trade commissioner tells cnbc that tie was china are onesided after the visit to beijing as the eu questions its future relationship. Translator indeed our trade relationship is imbalanced we are running a trade deficit close to 400 billion euro. One of my points in the different meetings was the need for more economic imbalancing and reciprocity. Warm welcome to street signs. We will kick it off with the fresh inflation data from germany. We have data from the state of hesse. Cpi is up 0. 3 in the month of is september that is an acceleration from 0. 2 logged in august. We have 4. 7 inflation that is down from where we were in august at 6 . Deceleration from august in the month of september earlier this morning, excuse me, a couple of minutes ago, the German Institute forecast at 2. 6 in 2024 a steep drop off forecast from the german economic
Shery you are watching daybreak asia live from new york, sydney, and hong kong. Annabelle we are counting down to asias major market opens. Haidi risk off mood in asia. Treasury yields higher along with the dollar. U. S. Crude prices hitting a fresh one year high with shrinking stockpiles in the larger storage hub spilling demand for physical barrels. In battled Country Gardens takes a step towards restructuring its debt after narrowly avoiding default. Shery how u. S. Futures are trading early in the asian session, marginally higher at the moment after stocks finished mixed in the new york session. We have the s p 500 fluctuating throughout the session, just to finish where it started the day. At least, it ended up erasing some losses we saw earlier in the session after President Biden counted Artificial Intelligence. We have the vix declining a little, still at the highest levels since the end of may. We have the nasdaq 100 outperforming today. We saw treasuries slumping again today.
Im david as han in for Stuart Varney, of course, hes doing the big debate tonight. President biden making history after he joined the united autoworkers in michigan. Biden becoming the first sitting president to actually go in a picket line during a strike. He told autoworkers, quote, you deserve a hell of a lot more than what youre getting now, enquote. Today former President Donald Trump is going to be making his own trip to michigan as the strike enters its 13th day. And hollywood writers are set to return to work after Union Leaders reached a tentative deal with the major studios. This would end the nearly 150day strike. The vote will begin next monday. And dramatic new footage showing migrants breezing through an open section of the border yesterday as construction workers attempted to reinstall the barrier. And mass looting overnight this philadelphia. Businesses across the city ransacked by masked teenagers. Looters targeted several Major Retail Stores like apple, foot locker, l