Looking for the people that are still missing are the shortages food water medicine all of this this crisis continues to unfold and it could still get worse without immediate action from the International Community and warnings are in place in canada us how to condone and makes its way up to the u. S. Coast its expected to make landfall in nova scotia and saddam is a category one how to can these 4 people were killed in the u. S. And then had to city was cut to hundreds of thousands of homes a number of buildings were destroyed and tons of a flooded North Carolina which was hit by more than a dozen tornadoes charleston in South Carolina was also in the day to. So i had a knowledge of syria with warnings the u. S. China trade war could take years to resolve we look at the challenges and opportunities its created. Art or insult an exhibition of nazi design opens and then the its. Hello again its good to have you back what we are seeing plenty of sun over here across parts of eastern chin
Plus Consumer Confidence slips but less so and bill dudley says the fed shouldnt enable the disastrous path of trade war es ka ligs and should attempt to influence the election not cutting rates further. We have it all coming up in hour joining us for the hour is steve grasso here at post nine good to see you. Good to see you. A wobbly session today in terms of the market. Up on the dow. That didnt hold but we are also kind of oscillating off the lows here still within this monthlong range. I think its about yields german yields, negative yields around the world probably heading even lower from there and taking the equity markets with it. Thats it from the 50,000 foot up and now trade headline, dudley today writing today and trump tweeting dudley in any other news day i think dudley should have been the focus from start to finish but when you have rates and when you have headlines on trade that kind of gets lost in the shuffle and been covering it quite well but that to me is something
At the New York Stock Exchange you can say stocks are sinking you can say they are stinking, folks. Trade tensions in washington, eamon javers has the latest from the white house on trade and Steve Liesman is here to explain what is a yield curve inversion and why it has so many people so worried. Lets begin with mr. Pisani at the nyse it is weak Global Economic data remember, yield curve inversion is in effect, not a cause. The Global Economic data that is issue were seeing those sectors that would respond to that are the weakest, including retailers, energy, semiconductors, and industrials. Everything is down rather uniformly, anywhere between 2. 5 to 4 . A lot of emphasis on sectors that are already deep into correction territory, were talking more than 20 down from their recent highs and almost all of these are due to trade tensions, Global Growth and tariffs being the two big aspects of that. Pharmaceuticals is the one exception off the highs, a lot of separate issues dealing with
The bond market flashesing a warning sign for the u. S. Economy. Germany and china both painting a negative picture, and energy financials, semiconductors are leading the declines, which are severe the dow at the low of the session down 782 were down 750 points as we speak. Chris, a crazy day for the markets. Lesss focus on the s p 500. What have been the key levels we have gone through and what are you watching from here i think its striking today feels worse than last week, but the s p trades above, so 2822 was the low, im going to guess theres probably more work to do on the down side. From the lows from may i think we need to put this into some context we need to remember that the s p is up 14 year to date weve entered this period from a position of strength thats different from the summer of 15 or the fall of 18. So i think the temptation is not to get too bearish just yet. If this is the start of a topping process, that will play out over time. Where to see those strengths . We l
After new reports out of china showed the worlds secon largest economy is hurting and a separate report showed that germany isnt doing much better. That set thetone. Then our bond market gave the loudest signal of all, yields inverted. That means that shorter term treasuries paid out more than longer term treasuries, and that doesnt happen very often. But when it does, it has been a good predictor of recessions. Ulledthere investors money out of stocks today with the dow plummeting 800 points, it was the low of the day at 25,479. The nasdaq dropped by 242, the s p fell by 85. Technical. Of this is we know a lot of it is complex, but were going to do our best to try to explain it and describe how it could impact you. We begin with the market selloff and bob pisani at the new york stock exchan reporter the stock market is getting punched in the gut from all angles, including the bond market, which is now flashing warning signs of a possible recession. As it concerns yesterdays tariffs de