U. S. Road map begins with stocks poised to rally at the open, boosted by rising global trade optimism, those earnings we mentioned from coke and utx, ceo of coke will join us today. Fiscal crisis averted the white house and congress striking a budget and debt ceiling deal. And lobbying for huawei restrictions release the ceos of qualcomm, google and intel and other tech giants make their case directly to the president. Futures are higher this morning on the heels of a number of better than expected earnings. Three dow components also cross beginning with coke. Shares higher after the Company Beats the street, raises organic revenue guidance and utx beats on the top and bottom lines. Mixed bag for travelers. Earnings fell short but ref new be beat coke seeing organic revenue five versus the prior four. Doing such a great job. Doing it with coke zero sugar which happens for quite good tasting. Doing it with water. Hes doing it with those small formats. Whimsical. Hes doing it with bette
And their currency is under siege. Our problem is a Federal Reserve too proud to admit their mistake of acting too fast and tightening too much and that i was right. They must cut rates bigger and faster and stop the ridiculous quantitative tightening now. Which gets us to the markets this morning, jim. We have been talking about negative rates, they only continued to worsen. It is a strange phenomenon to be sure but it is also a worrisome cycle people believe because you have negative rates that auger for weaker Economic Growth or a lack of growth you have what are it becomes selfreinforcing you have the global coordinated monetary easing going on right now. And you have the first time people talk you about the possibility of rates here falling dramatically from where they are now have you ever seen a ten year whipsawed as much in yield in the half hour period as we did this morning almost as if someone wants to get ahead of even lower yields there is a big short position in bonds. Th
Work and make you feel like a dope for parking in an index fund because they perform better than the s p 500 on a fabulous day where the dow roared 177 points, still one more story about facetoface trade talks in china you know what this reminds me of not the 2000s where stocks were blew up. Not the past decade but we rallied steady not everyone the runup to the. Com apocalypse in 1998 and 99. No aside from the sign that trade tensions may settle town todays move was reminiscing of the beginning of the great bull market, thats right, of the 1980s. The first huge bull market we had the same winners now as back then to a post industrial economy and big deal for merck to surpass ford or gm in size. This morning we heard from a classic Consumer Goods Company that struggled Kimberly Clark blew up the numbers. 5 growth. Thats extraordinary and not the most impressive part what matters to me were the gains in the emerging markets. Listen to what the ceo michael sue had to say on the Conferenc
President once again targets the fed. Huawei restrictions relief tech executives expected to make their case to the white house today. And equifax to pay as much as 700 million for that 2017 data breach well start with futures, though, set for a higher open. The dow, s p and nasdaq all lower in three of the past four trading days big week for earnings. Well hear from phobia, amazon, alphabet were a week away from the feds decision on rates. And then the president today is tweeting its far more costly for the fed to cut deeper if the economy actually does in the future turn down very inexpensive in fact productive to move now the fed raised and tightened far too much and too fast. In other words, they missed it big. Dont miss it again. Of course now the fed blackout window is in place so we wont get a response to that, jim, before the meeting. Look, the president is he wants that last hike repealed. I think that we have to hes obviously a lightning rod beyond belief, but its perfectly r
At the Capital Exchange event this morning making a ton of news. Closing the deal. Ibms 34 billion acquisition of red hat has closed both ceos will be with us in just a moment. As we said, pepsi beats the street, strong snack and beverage sales backs the 2019 forecast Hugh Johnston will join us straight ahead. Futures lower ahead of tomorrows capitol hill testimony by fed chair powell. Moments ago at the Capital Exchange event in washington, larry kudlow offered his views on the fed to our kelly evans. Take a listen. Price signals suggest as they have all year going back to last autumn that last policy move in december was unnecessary and i think they could take it back. Price level stability, steady dollar, is what the fed should aim for in my view among the things he said, defended a rate cut this month, said no effort to remove powell at the president time. Mnuchin, lighthizer may go to china. Larry is the happy warrior in this era everything he said made me feel better, made the ma