I got it. If this stock is a buy or should get kicked to the curb. Do you know the show hasnt started i know. Getting away from you. Youre not supposed to talk yet. Were excited. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, who is already made his appearance. Chatty tim. Steve grasso, guy adami and julie beal. We start off with the potential turmoil in washington. The house without a permanent speaker after housing Kevin Mccarthy last night. So, who is throwing their hat in the ring . When will there be a vote . What will new leadership mean for congresss fiscal agenda . Lets get to Emily Wilkins for the very latest on this. Emily . Hey, melissa. Well, the race for House Speaker is under way. Steve scalise and jim jordan both officially announced today they will seek the gavel, other members are looking at a potential run including congressman kevin lehaern. Republicans are going to meet on tuesday. Theyre not going to have a speaker
And have we reached peak pessimism on china . Thats the question Ruchir Sharma is asking as wall street does cut its growth estimates for the country this year. Topping the tape for us today, the august cpi print, and what it means for Interest Rates. Our next guest worked for the fed for 24 years, thinks well see a pause at the Central Banks september meeting, thats next week. But he says its a coin toss as to whether were completely done with rate hikes. Joining us now is macro strategist, vincent reinhardt. Good to see you. Not so much for the market, 50 50 on november and december, ahead of the Inflation Report, out of the Inflation Report. I feel like if youre a hawk, this number sort of backs up your case, because it shows that we are susceptible to hotter than expected and stickier inflation, but if youre a dove, it backs up your case, because the trends continue to point to disinflation. So what do you do with it . Thats the great thing about an economic report that runs 43 pag
View on facebook, stick around for this story the social network announcing a new tool to see if they followed russian propaganda he had to have liked one of those pages. Youre nots on facebook anyway i didnt like anything are you sure you dont like anything well, i didnt capitalize like anything. Thats what i mean. Thats pretty, you know, thats hard core, bill. Were running out of facebook video. Record number of americans will be driving today, but gasoline prices are at the highest level in nearly three years. Were going to look at where those prices may be going from here as we look at the parking lot last night in los angeles. Although, you know, they showed that, but its like that every day in l. A i dont know why took a while to come up from d. C. To new york last night though what, five or six hours. Old 95, always busy lets begin with the breaking news this afternoon from the federal reserve. Steve leaseman, those exciting minutes. Fed officials continue to grapple with the pe
Hour the major averages have been Holding Steady on light trading. It is a holiday shortened week the dow transport setting another record high. Oil moving big crude and brent crude. Apple shares taking a hit down more than 2 thats the biggest drag on the dow. Reports of iphone x sales are slowing. Mallinckrodt up. Intel down intel will lose the crown as the number one chip maker for the first time in 21 years to samsung. Amazon saying it had its biggest season ever. The echo dot the top selling product across the categories and many factors we begin with retail the day after christmas is one of the biggest for returns. Kate rodgers checking out all the deals in west nyack, new york reporter retailers definitely have something to cheer about. New data out from master card showing that retail sales from november 1 gs through Christmas Eve were up 5 that is the fastest pace since 2011 ecommerce grew by around 18 overall the National Retail Federation Said sales are set to be around 682 b
Stocks have been volatile following the hotter than expected read on inflation weigh negative than positive dow is flat. S p holding on the gains of about ten points doc, did we overreact to that inflation number on cpi . Yes absolutely we overreacted to it. And i know steves got some juice on that, so i wont step on your toes there, steve. But what we did in familiar particular, judge, i think it expoed, we were talking with some port folio managers nancy was talking about that the people that had been in that, judge. We saw a lot of people hitting the market even as we were down 250 points they were hitting volatility selling it and they kepti sellig it and when we reversed and have gone positive, they slammed volatility you dont expect to see that especially the first part with a big surge in downside ak tto see volatility dropping. Rates are moouing up. Yeah, because of the speed. Because of the speed we talked about it over and over again, but you know, the day when we were up in