Youre watching daybreak. Asia coming to you live from new york, sydney and hong kong. Were counting down to asias major market opens the top stories this hour. Asian stocks set to follow wall street lower as strong us retail sales signal rates may be higher for longer. Dollar strength sinking apac currencies to this years low decision day for the reserve bank of new zealand. With cooler inflation and higher unemployment supporting another hold. Plus, china said to mull cutting stamp duty on stock trades as defensive reaction to a surprise rate cut shows president xi facing more tough choices. Lets take a look at us. Futures now down. The stock market had kind of a tough day today. Were seeing now some green on the screen. However, just basically still pretty much unchanged. And in fact, the the feeling here was that retail sales in the us stronger than expected. Why wasnt that good for stocks . Because Neel Kashkari, part of it at least, president minneapolis fed says he doesnt think t
Gird mr. Saba added that according to the provisions of the letter of the governor of the central bank of iran, the selling rate around the currency and Gold Exchange center of iran was based on the impact rate of the feed price and the base price of the products of oil refining and Petrochemical Companies in Commodity Exchanges. The end of more than 70 transactions the percentage of symbols was in the positive range, todays stock funds have recorded the largest inflow of real money, and you can see these and more details and the market in the report of my colleague bakhtiarian. It has 16 hundred percent positives equal to 241476. After 2 million 136 thousand 300 units , it was connected to the positive game of 1. 2 hundred percent with an increase of 7200 units and i was able to register 720 thousand 900 units. The value of small transactions was 6900. Billion tomans, which is an increase compared to the previous day the purchase and sale of real goods registered 350 billion tomans of
Lower. Stocks higher. Technology, one of the best groups today and by the way, the nasdaq right now is above a new closing high. So we need to track that over the final stretch as many of the mega cap, including nvidia, see nice gains today pretty good day, too, for discretionary stocks like decker, surging after its earnings it does take us to the talk of the tape. The road ahead for the rally lets welcome in professor Jeremy Siegel, wharton professor. Glad to have you here. Happy to be here. And we have nvidia, knocked the cover off the ball again and a turbulent day yesterday, and then a nice bounce today at least in parts of the market. Yes well, i think, you know, nvidia did so well, it almost sucked all of the oxygen out of the room so no one else could breathe yesterday. And now i think they settled down there were, i think what disturbed people yesterday was that little chatter in the fomc meeting, the minutes, about some people saying hey, are we done raising, and that, that w
Nearly six weeks after the union began a walkout. And Morgan Stanley says it has its new future leader. Dont miss a first on cnbc interview with ted pick and current chief executive james gorman lets begin with the nasdaq which is set to fall deeper into correction territory the ndx coming off the worst day of the year. Now down 11 from the july highs. It looks like the mega caps are catching up to the decline of Everything Else i think theres an overwhelming sense that they all went too far. That they all got overvalued i do not share that. Well get to meta. These are not ultra expensive stocks, theyre a couple turns in pe. Theyve become major sources of fund i think its more correlated with the bond market than earnings yes, google did not tell a good story, it wasnt like they missed big meta, otherthan a few lines that were about meaningful spending, meaningful hiring and also obviously difficult to advertise when you have a wash, it was quite good. Now, the stock is down literally
That was higher than anticipated and that all but nullified the pop that some of the banks gave the market on a series of better than expected reports. Jpmorgan and citi have gone negative. Bright spots on an otherwise topsyturvy day. Boeing is one of the worst performers today. More issues with the 737 max emerging. That stock down more than 3 as for tech, the biggest loser. Every name losing some altitude today. Meta one of the worst performers along with nvidia. Our talk of the tape. Whether stocks can have a lateyear surge or not. Two market watchers on two sides of the argument, bmos brian belski says investors shouldnt fear rising rates and Eric Johnston argues stocks are going a lot lower. Both join me live, as you can see. Good to have you both with us. Brian belski, youre the bull. Ill go to you first. This week inflation sticky. Consumer confidence is waning. What allows to you remain bullish stocks . Thanks for having us. We appreciate the opportunity to clarify our stance.