Protests and the fallout from joer george floi, but the market and stocks are focused on Economic Activity, period we just keep getting good news its good news off very lowered expectations whether it be cheesecake getting a lot more people than they thought or the airlines this morning. American saying good things. Whether it be ebay pronouncing right now things are better than expected whether you talk a look at a lot of the companies that, you know, morgan stanley, gm, of course this quarter was the weakest, but maybe next quarter will be the strongest. We have a number of Oil Recommendations saying they have come all the way back. So the street is really bullish. After being very bearish you see a lot of price targets that were cut severely are now going back up. Its a kind of dont fight the trend where the most overbought we have been since 2009, but if you go back to 2009, we were up 11 on the s p. We had great period after. People are fighting the tape if theyre selling. How abo
Let the sun shine in the sun shine in let the sun shine let the sun shine in the sun shine in good wednesday morning welcome to squawk alley. Im Carl Quintanilla with john brennan and post morgan. At this hour the cairline ceos are meeting with the president this hour. We will give you updates as we get them and the rally, pretty impressive here stocks back in the green after the surprise fed cut rate tuesday. Steve milanovich joins us, tech strategist at World Research and the director of global mack affordability. I have been watching your tactical calls over the last week or so theyve been pretty sharp. You said you expected a rally this week. The question is now, what do we do with it yes, the markets remain in sort of a price discovery mode its unknown whether the low that was last friday, interday low at 29. 50 or so or whether its lower these are unknowable things because its a fastmoving development. But i do think friday we got to an oversold point and rally too, 3,100 was fai
From Francisco Blanch we welcome cal ron causing and keith lerner, both here. Good to see you both we can frame this, cameron, as this is perfectly routine, the s p had a total return of 20 in just, its very normal if its a bull mark to have this happen, maybe even something deeper. On the other hand, we havent benefited from further evidence that maybe we have an economic soft landing so take your pick. I think its the combination of all those things. We think its probably right to start asking the question, did he wit the valuation ceilings. They were up 50 from the october lows, so how much further could they run the certain aspect is yes, weve had the earnings beat, but they havent resulted in earnings revisions higher, soens comer in better than expected, but were not raising estimates, which help to point to this sidewayings chop its certainly consistent, but you have folks from either side saying we have no landland. It seems as if we might have a reacceleration in the economy,
Plus, oil markets squeezed again as russia and saudi arabia send more shockwhataves throughe market and china throwing more stimulus at the private sector to boost the struggling economy in the recovery. It is friday, august 4th, 2023 you are watching Worldwide Exchange here on cnbc good morning welcome to the show. Im dominic chu in for frank holland. Lets kick things off with the u. S. Stock futures after the s p and nasdaq turned in a Third Straight day of losses, futures right now showing a brighter picture, at least for now. S p implied higher by 15 points. Dow jones industrial average implied higher by 55 nasdaq up 83 a tech recovery may be in the works. This is ahead of the july jobs report economists are expecting employers to have added jobs at the slowest pace since december of 2020 at just 209,000 net new jobs for the month checking on the bond market. 10 2year yields yields on each up 5. 5 to 6 this week alone. The 10year treasury is 4. 91 . Slightly lower the 2year treasur
The annual meeting in Atlantic City. It covered electric grid, the permitting process and broadband access. This is 45 minutes. Welcome. The governors action accelerate projects here to open the session is executive director of the governors association. Great. Thank you. Come on, everybody. [applause] thank you. Thank you all for being back. Hope you had a great lunch. We will move forward here. A panel led by two of our great governors. North carolina governor roy cooper. A big welcome to them. All right. I think you will open us up. Thank you. Welcome, everybody. Infrastructure is one of the most common topics that we were asked about as governors. When will the new bridge be built, when will the potholes be fixed, when will my Community Get high speed internet, why is this taking so long to finish. Just take your pick. The pipeline,e, grid upgrade, solar projects, you name it. The United States is among the slowest nations approving and completing infrastructure projects. Permittin