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
Whether jay powell will cut Interest Rates further. And big earnings on deck, disney and wynn after the bell joining us courtney. Tell us how youve navigated the last 24 hours. You know, its been really, really interesting when you look at where the vix has been in august, were hitting 25 i think in july we ended around 12 that volatility is incredibly interesting. For someone like me thats looking to buy positions on the dip that i think are quality positions to buy and hold, it was a really good time in my opinion to do that interestingly enough on our desk at Loop Capital Markets we saw a tremendous amount of low, probably in the overnight markets, probably the most active weve seen all year. Buying or selling interestingly enough, buying. Some very balanced program bus we also saw a number of our fundamental clients buying in developed markets and a little bit of selling or less buying, well say, in some of the emerging markets so were starting to see some of that flight to quality
You, Procter Gamble Ceo David Taylor will be here to weigh in on what was the best quarterly organic Revenue Growth in years. Joining us now for the hour, though, charlie baa brinskoy from aerial investments. Industrials are an interesting standout today given lowered expectations for u. S. china trade hopes. What is that about low expectations. We had some people report and they were better than peoples fears. We had big companies, the big maker of drilling rigs people were worried about that, they beat, and the stock was up almost 15 Zebra Technologies makes scanners, and that business was better than expected, the stock up 15 . Low expectations, you think, which are easy to beat on earnings, but not on the fed you think maybe only able to cut in the shortterm . Yeah, that is the consensus prediction i happen to agree with it, which is one cut, 25 basis points. I dont think theyll pull a baitandswitch. I think they would not want to mislead the market i think that will happen, but it
Joining us for the entire hour is tobias levkovich. Welcome. Thank you is this just a bounce from oversold conditions or would you buy into the rally i think that it is more of a bounce off oversold conditions look, things like energy, financials, have come back we were so hammered in the last couple weeks the issue that you need to resolve is earnings. That will be the more problematic phenomenon and so do you feel good about what earnings could be i think that earnings are still too high for the balance of the year and beginning of next year. I think consensus numbers for next year for example are about 10 , probably should be more like 5, maybe 6. So that is the issue so doesnt feel so good the white house pushing the message that recession fears are overblown. President trump tweeting today, our economy is very strong decembspite the lack of vision the fed but democrats are trying to will the economy be bad for purposes of the 2020 election. Very slchish before our dollar is so str
Google, amazon, intel, and many others after the bell. Coming up in just a few moments, well talk about todays pullback much more with Hayman Capital Management founder kyle bass will be good to get his thoughts especially on china. Joining us for the hour, cnbc contributor stephanie link is back from nubene are you taking a chance from this pullback to do anything today . Its an earnings bonanza. Im still way behind in the Conference Calls that started last night but yeah, during earnings season, you always get exaggerated moves. So i actually am looking at the fundamentals and trying to identify where there is opportunity. Zille yix this morning was indicated down 6 last night and only opened up down three, but i still think that is an opportunity because they derisked the numbers bristolmyers opened flat, but actually that quarter was really good, bought a little bit of that so im lacking for opportunities slowly, because the macro, obviously, weve got a lot of questions still. So,