We are seeing green on the screen in terms of equities and u. S. Futures. We finished unchanged on the s p 500, so the markets are a little bit risk on. We are seeing that reflected in the bond market. The 10 year has backed up. We have a number of regional president s pushing back against further rate cuts. The dollar is on the front foot as well. Coming up, we are live from jackson hole as investors take positions on how fast and how far the fed will ease. We have a host of stellar interviews first up, James Bullard. And then watch out for robert m Robert Kaplan and patrick harker. , that iser it takes what new Zealands Central Bank governors says he will do to support the economy. Thef says he will evaluate impacts of this month on expensively large rate cuts before considering further easing. Forward, we were saying everyone is telling us we needed to be lower. Everyone is telling us Global Growth is slowing, so lets get ahead of this. Lets move and reduce the probability of having
More downgrades. This time not on the sovereign but u. S. Banks, 10 downgrades overnight. Tom there is a bank story in italy as well. That is the economic thing to look at. Overwhelming everything here this morning led by the news out of china is it is deflation tuesday. Im looking at the screen and i have not seen that screen in 4, 5, six years. Jonathan dreadful. Tom we were out in front of the story, there is deflation in the air. I can bore you with eight ways, all you have to do is say even oil breaks down. Jonathan every time i get data out of china, it is downside surprise. Lisa one interesting area, the divergence between the u. S. And china has been accelerating. What you have seen with respect to the u. S. Dependence on china is it is decreasing even though in europe it is not. I wonder how much those stories are linked. The underperformance of germany and the outperformance of the United States. Tom the banks have to deal with this disinflationary, deflation tendency. You go
Fivemonth wing strning streak o far. Its the busiest week of earnings season with more than 160 s p 500 constituents reporting. Merck, pfizer, uber, jetblue, marriott, caterpillar. Weve got a lot of different earnings reports to get to this morning. I mentioned caterpillar. It did top estimates also lower sales and potentially tighter margins in the Third Quarter. The companys ceo will join us later. That is just the bearish they had a great number. Well talk about the fact that they dont even have enough product. The bears like to get to it very early. This is routine. They did it before they took the stock down from 230 all the way down to 206. Jim, what we spoke listen, the bears didnt know what they were doing then the stock went straight up to 265 im absolutely happy to deal right at the front. 2 top line revenue growth, 22 . Thats called good. I didnt mean to get right into im not disputing its good it is good the only question is whether or not the stock has already accounted fo
President trump. Emails a bid to return to the white house. This time he is charged with four counts of a special counsels investigation looking into the January 6th Assault on the capital. Leading efforts to overturn the 20 20 election. A growing chorus of critics is calling it a double standard. They are comparing the dojs treatment of trump so far. Their Potential Wrongdoing involving Mishandling Documents in Shady Business deals All Over The World basically given a free pass. And republican congressmen connecting the dots between trumps indictment and the Blockbuster Revelations of this past monday from devon archer. Is not coincidental. Its a day after you get is testimony which is really pretty to the biden family. And the president gets indicted. Investigating hunter biden in joe biden in the biden family syndicate. More and more evidence is coming every single day. This is not going to deter us from our duty which is to investigate the president of the United States is corrupt.
Over much of the past three decades, i have been an investor. The highest calling of mankind, i have often thought, it was private equity. [laughter] and then i started interviewing. While i watch your interview, because i know how to do some interviews. [laughter] i have learned in doing my interviews how leaders make it to the top. I asked him how much he wanted. He said 250. I said fine. I didnt negotiate with him and i did no due diligence. David i have something i would like to sell. [laughter] and how they stay there. You dont feel inadequate now because being on the second wealthiest man in the world, is that right . [laughter] dr. Raj shah is dedicating his life to solving the problems of health and hunger. After getting a medical school degree, he began his career at the Gates Foundation. From there, he joined the Obama Administration as the head of the usaid, and now hes the head of the Rockefeller Foundation. I had a chance recently to sit down with raj shah talk about his p