Any precipitous policy, at least not at the present time. How much more shock can this market take before theres longterm effects on the economy . What do you think . Look, the market the markets had a shortrun correction, and i guess its 10 or 11 or something. Weve been through this many, many times before. And i dont think even though its frontpage story and nobody likes to see their asset values go down, i just dont think at this point its going to have much of an impact. I will qualify that, depends how long this lasts, how deep it goes, but i could cite a number of historical experiences. The one i remember the most, i was a cub scout way back when, and i remember the 1987 market crash and i remember president reagan going out and saying the economic v economy is fundamentally sound, and it actually grew by 3 or 4 in the next couple years after this crash. President trump said it in this room two nights ago, we just think the economy is sound, and therefore i just dont think this
Just off the highs of the session. Lets have a quick look now at the Canadian Dollar and its performance. You see that bounce there by the u. S. Dollar versus the Canadian Dollar. That is after the bank of canada dropped Interest Rates by 50 basis points. It was anticipated the bank of canada would drop. , and manybasis points strategists saying this was to keep up with the Federal Reserve. You can see the Canadian Dollar 1. 3394. T guy today, the European Union coming out in warning of recession risks both for italy and france. Some speculation as well that italy is weighing shutting universities and schools. 600, we of the stoxx are up around 1 . Around decent volume today, which is worth noting. Netting 64 is where we are currently trading on the german tenyear. We continue to see a bid coming into the bond market. We are waiting up to see whether the bank of england is going to follow the fed. We are waiting to see whether the ecb is going to deliver further monetary stimulus as we
We have a huge lineup this morning. Steven mnuchin will join us. That is at 7 45 a. M. Eastern at 8 00, well get reaction from political strategist hes been out all over the place what is there to talk about . A few things what did we say . President trump is ripping apple . Ive said all along, apple has to get on board. Switching sides no. Im not. It is not apples responsibility to keep us safe the issue is how much theyve been cooperating it does sound like the company has been pretty responsive they dont want to create an encryption key to allow any government to get any phone. They should cooperate in cases like this. I hope they are cooperating behind the scenes. I do want to see them cooperate on some of these but i can under the broader issue. The journals point is that in the meantime, apple shouldnt be seen as a public enemy no. So barr wants cooperation. Right but not just on this issue. He wants to create a larger issue. He wants to establish and create law for life that wou
Trade deal and the market soars the dow gaining 221 points s p climbing. 86 and the nasdaq. 73 . What do we say hello . Hallelujah i dont mean to trivialize the importance of this news. It matters it does matter President Trump trump stock, trump stock. Might be able to reduce the tariffs with the chinese by 50 , or cancelling or forestalling the tariff hikes that were supposed to go into effect this week that would have affected a lot of consumers china is willing to make some major agricultural purchases while doing a better job of enforcing u. S. Intellectual Property Rights and maybe opening up their market, specifically to the services and especially the Financial Services industry. And thats a big deal. But, and this is the worlds biggest but, the days when a china deal could control the fate of the whole stock market are long gone, even as we act as if its all that matters initially the market reacted to the tariffs as they were going to cause a worldwide recession this whole de
Matt we have markets sapped in terms of their rally stamina because of amazons profit. Seen int reduction have a couple of years. The reason is one jeff bezos promised he would be delivering since the ipo. They are investing for growth, spending 1. 5 billion dollars in order to get customers free one day delivery and market share. Nejra they are certainly delivering on that. That has helped sales, but not delivered as much as investors might want. Boris johnson wanting to deliver that election by december 12. Jeremy corbyn has said labor will not back in election unless no deal brexit is taken off the table. If johnson succeeds, he may push brexit through by november 6. The other Sticking Point is the to know more about an extension at the moment. The eu saying, we need more details about the u. K. Election. A little bit of a catch 22. Matt absolutely. It is interesting labor makes both of those demands. No deal off the table and wants to know about the extension is going to get from t