Rate setting meeting. The federal reserve decided to keep the cost of borrowing on hold for the eighth month in a row at between 5. 25 and 5. 5%. That s a 23 year high. But it was what the fed chair had to say that gave investors a boost. Jerome powell gave the biggest hint yet that a september interest rate cut could be on the table. Here s what he had to say. If we were to see, for example, inflation moving down quickly or more or less in line with expectations, growth remains, let s say reasonably strong and the labour market remains consistent with its current condition, i would think a rate cut could be on the table at the september meeting. Joining me now is wei li, global chief investment strategist at blackrock. No surprise that wall street was chairing this direction, clear communication from jerome powell. ~ , ,. , ,. , powell. Absolutely. He made it very clear powell. Absolutely. He made it very clear the powell. Absolutely. He made it very clear the bow powell. Absolu
Had their worst days since 2022, restoring some confidence, better than expected economic data here in the united states. We will get that in some detail in a moment. Let s go to nashville tennessee and speal to david waddell, president and chief investment strategist at waddell associates. Welcome back to the show. Yesterday was the worst day in a year and a half or us markets. Now we have had time to sleep on it, what happened? well, it wasn t quite as bad as it appeared. The magnificent seven was down 6% of a cohort. They make up 3% of the index. The other a93 were only down 1%. This sell off was yesterday. It started when the lighter than inflation report came out on the 10th ofjuly. From that point, it was down 16%. The magnificent seven were down 10%. However, small cap stocks in the usa were up 10% in that period. You are seeing a rotation acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in
Let s just show you how things have been trading on wall street. Khan to those numbers after a difficult day for investors. calm returning that those members. David waddell is an investment strategist based in nashville tennessee. He told us in his view the big tech sell off was long overdue and actually in some ways healthy. Well, it wasn t quite as bad as it appeared. The magnificent seven was down 6% of a cohort. They make up 3% of the index. The other a93 were only down 1%. This sell off was yesterday. It started when the lighter than inflation report came out on the 10th ofjuly. From that point, it was down 16%. The magnificents were down 10%. However, small cap stocks in the usa were up 10% in that period. You are seeing a rotation acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the year for retail, and the highest since 2021 for professional investors. We had a lot of complacency. Th
let s get down to business, and we begin with the intense diplomacy over the crisis at the ukraine russian border. as you ve been hearing, borisjohnson is due to hold talks with the russian president before visiting eastern europe this week. foreign secretary liz truss said on sunday she would set out legislation that would give moscow notice of a severe economic cost for any incursion into ukraine, by strengthening britain s ability to target russian assets in the uk. she will outline the details to the house of commons later today. this comes as energy prices soar on concerns russia could restrict supplies of gas to europe it supplies around 40% of the eu s energy needs. chris weafer is business and investment strategist at macro advisory. good morning. so there is a lot happening this week and all the time these concerns over what russia might do next and the gas price is going up and up. yes because the focus has been on the worst case sanctions and this is being talk
neil: all right, well, this is it, the south carolina primary is on, and the voters are out. you are looking live at three of the more beautiful palmetto state locales in surfside, greenville and columbia where folks are casting their ballots. 50 delegates at stake here, and the winner takes them all. nikki haley expected to vote about an hour from now, and she s promising to stay in the race no matter what happens in her home state, yep, even if she loses big to donald trump. always fair, always balanced, we ll hear from voters for both candidates. but first, we ve got fox team coverage on the campaign trail with alexandria hoff tracking the former president in the state and mark meredith with the former governor of the state. we begin alexandria in columbia. alec. reporter: hi, good morning, neil. former president trump has spent very little time or money here in south carolina. the expectation the is that he hasn t really needed to with such strong the polling numbers, b