One stock that did not snap the streak was tesla. On the month, down by close to 20 . Down by more than 40 today. Lisa it has been kicked out of the magnificent seven. We have a company that is fighting a sentiment wave as well as the very real wave of competition in china during a fraught market for the electric a fraught moment for the electric vehicle market. Jonathan product release, competition in china, we are trying to figure this out. What is the tesla problem and what is just the broader industry problem right now . Annemarie you are seeing this ev demand around the world especially in china. You do see China National companies doing very well. The issue seems to be in other places especially in the United States. When it comes to tesla, the problems continue. Overnight we have an exclusive story about the newly formed Marketing Team part of those companywide layoffs. This was supposed to be to get the message out in advertising. When you saw the Inflation Reduction Act and ta
Enough fentanyl coming in to kill everybody in the country. Isis smugglers, and all the numbers you just heard. Can the c. R. Be a way to get leverage to get ill leave that up to others. Well, and let me say this and we should wrap up. But some of yall may know brandon judd, the head of the National Border patrol union, brandon is a good friend. Ive spent a lot of time talking with Brandon Judd About what the Border Patrol sees and one of the interesting things brandon says, he says they dont particularly need more money. They dont particularly need legislation from congress. What they need is a policy change. What caused this crisis was a decision by joe biden and Kamala Harris and every Senate Democrat to embrace catch and release. What caused this crisis is when they apprehend people, they are given a court date years in the future, they are let go and the vast majority are never seen again. Joe biden could solve this today because the problem is he is brazenly defying federal law.
Kudlow. Im larry kudlow. All right. Everyone should read wall street journal columnist and former george w. Bush speech Writer William mcgurns excellent piece called time for so manically regular mommics. Thats in todays wall street journal. Mcgurn calls it zombie reaganism because people think the gippers free market, procapitalist, lowtax, deregulation policies are hopefullylessly out of sync with modern thinking. Of course, people who make that case are mostly part of the new socialism practiced by todays democratic party. Wasnt always so for the democrats. John f. Kennedy slashed tax rates. I wrote a book on the subject. Ronald reagan always promoted jfk tax cuts when he himself slashed tax rates in the 1980s bringing the top the income tax rate, believe it or not, down from 700 to 28 70 to 28 . Incidentally, joe biden voted for the reagan tax cuts when he was a senator. Just saying. So after the tax cuts, the economy boomed in the 1980s. I might, boom boomed. Between 1982, which w
Shery youre watching daybreak a show live from new york, sydney and hong kong. Haidi the top stories, asian stocks are lower as volatility ratchets up. The dollar is extending gains. Tesla in the crosshairs as a beneficiary of subsidies. The ftc is accusing the ecommerce giant of monopolizing services in challenging sellers. Shery take a look at futures. Muted moves after the s p 500 fell to the lowest level since early june. We are on track for the worse month this year. The fear gauge is climbing above its average to the highest level since may. Investors are digesting data with Consumer Confidence following read treasury yields drifting. The 10 year yield at 453 levels, decade highs. Weve been watching the upcoming preferred gauge of inflation, that will be one to watch in terms of the fed and a potential shutdown leading to safe haven demand in the dollar index at the highest level this year. Seeing its longest winning streak since august. We continue to watch oil prices as well. H
Wall street journal columnist and former george w. Bush speechwriter william mcgurns excellent piece called, time for zombie reaganomics. That is in todays wall street journal. Mcgurn calls it zombie reaganism because people think the gyppers free market, low capitalist, low tax, deregulation policies are hopelessly out of sync with modern thinking. People who make that case are mostly part of the new socialism, practiced by todays democratic party. Wasnt always so for the democrats. John f. Kennedy slashed tax rates. I wrote a book on the subject. Ronald reagan always promoted the jfk tax cuts when he himself smashed tax rates in the 1980s, bringing the top income tax rate believe it or not down from 70 to 28 . Incidentally joe biden voted for the reagan tax cuts when he was a senator, just saying. So after the tax cuts the economy boomed in the 1980s, i mean boom boomed. Between 1982 which was the end of the carter recession really and 1988 the gdp growth rate was an astonishing 5. 4