This was a pretty strong report. This endorses the fed pols. Exactly what the fed is looking for. It is reasonable to expect the fed to kind of be on hold. The front end of the curve is selling up more than the backend. The market is saying the fed cause is warranted. It is probably going to remain on pause for a good portion of next year. Jonathan joining me around the table in new york, gershon distenfeld, priya misra, and krishna memani. Priya, lets begin with you. What a payrolls report. Priya a good report, no way to look around it. When we check out the gm numbers, still a solid number. But i have to highlight caution a little bit. The labor market is a lagging indicator. His Global Growth for sure bottoming . There are some signs that it may be. Is it about to surge ahead . I am skeptical. We are not getting stimulus out of china, europe. Growth,iew, global probably models around. The trade uncertainty, we are so hung up on this trade deal. Dont know even if we get the phase one
Which is crucial for canada. Lets check on the broader markets here in the u. S. For the s p 500, continue to reach above 3000, but just a bit of weakness before the rates decision. The u. S. Dollar index not really moving. We are at 97 92 cents, fairly healthy. Off. 0 year yield on general electric, investors reacting well to this numbers to these numbers. It looks like larry culp is actually delivering. Guy cash flow very solid. Flows off today. It is the banks really doing the damage, mainly Deutsche Bank, Credit Suisse, santander, all down hard today. That is what is dragging the stoxx 600 away from the 400 line. Eurosterling a little negative right now. Tiering comes into place today for European Banks, plus the restart of that qe program. We are keeping a firm i on both of those stories. The others dry want to mention is the South African rand, absolutely pummeled. The dollar up by 2. 5 . The budget out in cape town today, having a few having a huge impact on the rand today. Vonn
And we got better than expected manufacturing data here in the u. S. , but the imf did lower its Global Growth forecast joining us for the hour is steve grasso from Stuart Frankel you know, we hit these highs earlier in the session didnt hold on to it for very long what do you make of todays action we didnt hear about impeachment. We didnt hear about china trade, really. We havent heard much about a lot of things, but we did hear mostly about were earnings so the market wants to get back to something that they can look at and say, its binary. Either services it was a win, it was a beat, they got it higher or lower and were going to run with the market there. Not enough to make new highs, but were on our way there with earnings, i would guess. It is interesting to look at companies fundamentals, actually push the trade headlines aside just a bit still hopeful, perhaps but let the day be run by earnings its true everybody has been run by macro lately so twothirds of all stocks trade with
Yes were doublechecking, thats right. Take a look at twitter plunging today after the company added plenty of new users but struggled to sell advertising. The drop shaving off 1 5 of the companys value, wow. Connell better day for tesla. That company overtaking general motors, most valuable american automaker. How about that . Following a surprise Third Quarter profit. Tesla shares up more than 17 1 2 . There you go. Melissa as were waiting for amazon lets bring in todays panel. Jeff sica, circle squared alternative invests ceo, john layfield, layfield report. He is also a fox news contributor. John, i will start with you. What are you looking for in amazon . Oneday shipping, what the cost is going to be. Amazon has done so much to get to oneday ship forge with hundred customers. There are experiences incurred, how they are incurred Going Forward. Melissa jeff, how about you . I agree with john. One day shipping is big ken for all of us. This is amazons goal from day one, to get meliss
Sentiment in about an hour our road map begins with amazons rough quarter, reporting its first yearonyear profit decline in more than two years. Shares down 6 ahead of the bell is now the time for investors to get in plus, turnaround for the chip makers intel delivers a big earnings beat demand far outpacing production. And the case for wealth taxes. What lloyd flablankfein says he be willing to pay higher taxes for. Lets start with amazon, though. Earnings miss, disappointing Holiday Quarter guidance weighing on the stock as the company ramps up spending on oneday shipping amazons earnings release, jeff bezos said, quote, customers love the transition of prime from two days to one day theyve already ordered billions of items with free oneday delivery this year its a big investment, and its the right longterm decision for customers. Weve been down this road before and their track record, jim, historically is pretty good on this yes, i think that theres a perception that they were down