The day. Halftime report starts now. Welcome g good to have you with us our Investment Committee at the table today. Also with us on set today is cnbc senior economics reporter Steve Liesman in a few moments, as you heard, joined by adam bain stocks focussing on the fed. The twoday meeting underway why they expect to cut rates tomorrow the question is as we asked at the top, is it the week that sets stocks on a course for a new milestone or not its possible i want to be constructive here so if youre looking at if youre looking at technicals, you can say, okay, for the First Time Since last september, youve now got 72 of the s p 500 above the 200 day, which means more than twothirds of stocks almost 3 4 are in their own structure bull market. That happened last october i dont know how forward looking it is. It is a positive especially when you consider the fact that were getting participation from across the market its not very narrow its very broad. That being said, theres junky retail
Bankers to meet when the markets arevolatile, trade tensions are heightened, the Global Economy is slowing, theond market i flashing a warning sign, and theres a lot of uncertain over Interest Rate policy. But thats exactly what is happening in h jacksone, wyoming, and the stakes are high. This annual gathering of federal officials is turning into onef the mostanticipated of all, especially given the deep divisions among policymakers. Steve liesman is there. Reporter as the fed gathers in the shaw of the Teton Mountains for the annual jackson holeeeting, the first officials to speak didnt tell the markets what they wanted to hear about the need for deep Interest Rates cs in the months ahead. I didnt think the cut was propriate necessarily but i went along with it to get back to neutral, but my forecast i ju to hold. My sense was weve added accommodation. Right. And it wasnt req in my view. I think were g in aood place relative to the manda were asked to achieve. Reporter the fed presid
Get you back to flat the question is a recession ahead . Ray dalia was on cnbc this morning with some of his odds. Take a listen. Recessions are always inevitable the only question is when. Do you see one coming yeah, i think that in the next two years, lets say prior to the next election, theres probably a 40 chance of a recession. And i think that youre seeing this around the world. You know, big discussion in the last hour, guys, about what is going into some of these recession models, why some of high yield spreads are not confirming them, whether theyre based around the yield spread or more a lot of companies in tech are starting to catch a cold plant materials which i did cover last night as promised the numbers werent that bad they werent far off of what was expected but their memory business is in this memory slump and people seem to get a bit skittish about that we had cisco talking about how the uncertainty is contributing to their cautious guidance the scary music is startin
Very similar to the movie minority report and have 3d images from cad and manipulate it. Here is an architect working on a 3d building and pulling out pieces and you could have somebody else collaborate with it and have remote assistance if you need to fix your washing machine or a jet engine or do surgery, you could have someone looking at what you are doing and help you walk you through that. It is hands free. When i think of the typewriter pd and the keys that the Washington Post folks use a lot and it is based on movable type and the mechanical typewriters didnt get stuck it is like punch cards connecting with technology. I think the future of using eye sight and using gestures is a big leap forward. There is some reports that say there is 120 billion Market Opportunity to change the way we interface with computers. So we created a headset where you could look at the world and interact with it and youve seen it rendered in movies like iron man and minority report and mission imposs
All right. I think we probably have time for at least one, maybe two. With the incredible job that darpa is doing, do we need diux . It is an initiative in the Defense Department to try to connect the dod better to the commercial tech community, the first part of that activity is in the Silicon Valley area. I actually think this is a really important opportunity for the department. Darpa is designed to be deeply engaged with the technical community. My 100 Technical Program managers are out in the world. They cant get their jobs done without talking to people in universities and defense companies, Small Companies and large. Much of the rest of the operations of the department are jobs that keep them in their offices and talking to each other. Secretary carter has underscored how important it is. I actually think it is a very Important Initiative and one we hope to see making great progress. [ inaudible ]. Well, darpa has had a 60year history. I think it is really important for many oth