Michael the fed is getting easier today. We will go now to top headlines. The market selloff went global and it began in china where stocks fell the most since 2007. It fell more than 8 . There are growing concerns at the chinese economic slowdown is getting worse. At the opencks sell as the dax dropped more than 2 . Futures indicate that u. S. Stocks will be lower at the open and ended last week down the most in almost four years. Oil is down again today as well. Went low 45 per barrel for the first time in more than six years. Three american servicemen have been awarded frances highest decoration, the legion of honor. They helped foil what could have been a mass shooting on a french train and they spoke yesterday at the u. S. Ambassadors residence in paris. The gun man would have been successful if my friend spencer had not gotten up. I want that lesson to be learned Going Forward. In times of terror like that, please do something. Dont just stand by and watch. Vonnie the gun man is
Four trading sessions with yesterdays strong gains. Now the major u. S. Averages all turned positive for the week. The nasdaq now positive for the year. Check this out. The dow and nasdaq are now on pace for their best week in a month and a half. Stocks are now out of correction territory sitting less than 10 from record highs from mondays intraday low. The dow is now up 8 . If you had caught it at the bottom this would be a great week for you. The s p has risen nearly 7 . The nasdaq is 12 higher. We should give kudos to our friend that had those dates. He said this was the week. Remember he had the exact dates . You were out. I was probably out. I think i was out. I wasnt here. Assuming this holds up. We dont know. Like yesterday i was checking from time to time and i was in a place that i didnt have wifi. It was that fake out. Up 2. 5 and then all the way down to less than. 5 and then back up. Youre thinking i bought into this and now its going to go down and ends up going up 360. It
Gold all muted but anything goes as abuse headlines crossbreed david there are so many. The morning brief. But anything goes across of the headlines. David bank there are so many. At 2 00, the Federal Reserve will release its beige book looking at the u. S. Economy. An update of headlines outside of the Business World with taylor riggs. Taylor starting with a hurricane, the most powerful to form in the Atlantic Ocean is preparing to hit florida. Passedricane of irma over the caribbean street it could hit south florida this weekend. A worstcase scenario have it destroyed so much property that damages would surpass Hurricane Katrina a that was the most expensive Natural Disaster in u. S. History. The south korean president is seeking Vladimir Putins help for north korea and they met and not stop,rth korea is the situation could turn uncontrollable. Putin said there is no need to back a north korea in a corner. President trump has left a door open for little bit to end daca. Last night co
You can also open some questions. From a timing standpoint economically, i think its an interesting time. We had jackson hole, Second Quarter gdp numbers looking a little better so thats great. From a human and social perspective, its an unfortunate time in our sympathies and prayer go to the folks in houston. Get right into it. We will talk to the domestic economy and the Global Economy. Lets start off with u. S. Economy. Where do we stand right now whats the outlook for the next three to five years. First quarter gdp was 1. 2 . Second quarter was 1. 3 . For the year 2017, u. S. Economy should grow approximately two and a quarter percent. Its not great by historical standards but certainly sufficient in our view to further take slack out of the labor market, drive down the on employment rate and other measures of employment slack. We can talk about that there are a number of reasons why gdp growth is more sluggish now than it was ten years ago or 15 years ago and the number one reason
Welcome back to the real world. Yes, here we go. Yes. Were so close to the weekend. We are looking outside right now just a lot of construction , blah, blah, blah we will have that coming up. It is quiet, weatherwise but isnt it nice to have the whole team together. It has been a long time since we have been together. Who is on first, is what on second i dont know is what on third. I think rahel had a much more interesting reason to be off then i d lets talk about temperatures folks, because it will get very, very summer like. Today our expect high is 87 degrees. What . Exactly. Normal high 76, jim so we are exceeding what is average and this is not only day like this in our future here. Eagles tailgaters will be out in tanks and sweat pants or shirts this upcoming sunday. We are looking ahead to very warm air. Despite the fact that we are right around the corner from fall. High pressure is our main theme here. You like sunshine, summertime heat, this is forecast for you eightyseven by