Continuing a trend that shows so far, university of michigan sentiment, other surveys were doing okay and things are going okay. In the middle of all of that, you have a report out of fedex saying were not doing okay. Telegraphing problems because of the trade war. The trade war is one of the big reasons why the fed will supposedly move today. It is all in what the fed lays out after it makes its move. The consensus seems to coalesce out of quarterpoint cut to Interest Rates. Would bring overnight lending rate from 1. 75 rate to 2 , from around 2. 25 we are right now. That can jostle wildly. Lets get the read on all of that Charles Payne, thank you for helping out on your world yesterday on fox news. What do you expect first off . 25 basis point rate cut in part because the wall street expects it, to such a degree yeah it is. If you think a trump tweet is tough, wall street selloff of several hundred points. I mean they, they really have the market cornered when it comes to temper tant
Oil prices end disproportionate weighting with the dow, components like exxon, chevron mobile dominating the scene. Lets go to Edward Lawrence with the latest from the white house on the trade front. Edward what are we hearing . It is fish. U. S. Trade Representatives Office filed to increase tariffs on last 300 billion of chinese imports from 10 to 15 . It will go into effect in two faces. First phase of 15 happens this sunday. You see items on the screen will be affected. The second batch goes on september 15th. Chinese reinstituted 25 tariffs on u. S. Cars sold in china. Increasing tariffs on 75 billion worth of u. S. Imports. Were expecting a phone call between the two trade teams. It has not happened yet. Vice president chief of staff says the pressure will put the u. S. In a position where china will make a deal. There is a lot of pressure on china for them to reach a deal, and to actually hold, the commitments of that deal. Which is something we havent seen in the past. No, i wo
Trust me, would you be hit no matter how much youre invested. Fed kicking off twoday meeting. The issue isnt whether they will cut but how much they will cut. Consensus is quarter point in Interest Rates you never know. Fbn Lauren Simonetti is with us. 25 point basis cutter is considered bake in the cake. Markets predict 76 chance is the size we get tomorrow. President trump wants more. I would like to see a large cut. I would like to see immediately the quantitative tightening stopped. See the tightening stopped. Stop the quantitate tightening and raising rates was a big mistake. He says they are doing the opposite of quantitative tightening. Theyre easing but injecting money into the economies difficult making it for the u. S. To compete. The u. S. Is with ongoing trade negotiations with china impacted both countries. Take a look at this, the impact for consumers would be marginal. Greg mcbride, bankrate. Com says a cut would reduce the minimum Monthly Payment on 5,000dollar credit c
Apple. Be that as it may, the s p is falling for the fifth straight day. Again it is on track for its biggest loss since going back to december. The 10year note, which is a good barometer how people are feeling, if you are nervous, park your money in notes and bonds, people are doing that, these are the lowest yields in the better part of three years. Were keeping an eye on that, keeping an eye on other things were waiting for. President might comment on that or all the above. He wants to up the trade ante. The latest besides affecting tariffs virtually on everything we get with china, he is talking increasingly now it starts at 10 with the remaining goods. It could go up still further. As stuart was pointing out. A lot of other goods and services were talking aabout could easily ratchet and move in different directions. Well keep an eye on that. Also keep an eye on what has been happening on the Precious Metals front. Gold, for example, getting a lot of buying interest, a little less
Elizabeth warren will be here in the next 90 minutes to weigh in on the fed, the banks, and the big debt ceiling shutdown. Before that, lets get todays markets with about an hour before that decision. Dominic chu live at the New York Stock Exchange hi. Kelly tish, tyler, i will teu its a tepid market but not unsurprising in the fact we have a major catalyst in the fed Rate Decision for the time being we are seeing general positivity it had been mixed in the session but not much up or down. Generally speaking were kind of tilting towards the highs of the session. The nasdaq up about 1 p the s p 500, 4131, up about 0. 3 the dow up 0. 1 . 33,723 the last trade. One place to keep an eye on, is whats happening with certain parts of the oil market. Demand may be an issue if theres an economic pullback if you take a look at oil prices wti crude is down about 4 on the session. 68. 63 were on a 60ish dollar handle, below 70 right now over the last year weve lost a third of its value keep an eye