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
Weak in the session. Joining us is josh brown welcome back. Good to be here are you also in celebration mode after jay powell . Im also in celebration mode. We got all but a promise of a rate cut i think in july. Theyre going to do it. I said earlier, he foamed the runway for what ithink the market knew he was going to do the thing is, i dont think its necessary, but i also dont think its harmful a 25 basis point rate cut most likely, the best example of Something Like this, that i can think of from recent history is 1995 you had a new alltime high in the stock market the day they did the cut, but it was a single cut. And a lot of the reason for that, they had done a surprise rate hike in 1994, which kind of crushed the bond market, people were shocked i think what the 1995 single cut was about was taking some of the pressure off from that, maybe also like a mea culpa, we didnt need to do that that maybe thats what this is most like, and it would be likely we make a new stock market hi
European equities, up by 8 slaegts 10 off a percent we had pretty Good Movement over it had it last 24 hours because off powells testimony 1. 60 we were over 190 10year note, 2. 056 if youre planning your day its time for the crosswalk flan aer for try to pace yourself and this is right at the it very beginning of your day because youd do vp oorks and later in your day, im watching washington do the same stang and hell not see you. How were going to get numbers from Delta Airlines. After the close. You also have to be aware of ho, thats right im eves dropping youre down to five, are you not . As sooner as the numbers are out, ill give you a free cnbc envelope did you see that engine yesterday with video kw the thingroiding around in the it did. I just saw people complaining they didnt feel like they andaus compensated enough for it sglrts then you would do if you saw that it fer and if you saw nangen come across on a flight i would mang. Ohow would you notify somebody theres not enough
Administration responds with a cyber attack. Iran has a Cyber Strategy of its own, how they are attacking u. S. Banks online. First to our top story, the continued back and forth between beijing and washington has put tech in the crosshairs of the trade war, impacting Companies Like apple, huawei, and many more. A new article details how chinas tech sector is mostly insulated from exposure to the u. S. On many fronts. But there is one area where it is still dependent, semi conductors. Over the last decade, china has seen a surge in chip imports. More than 300 billion now. For more on the ongoing impacts in both countries, we spoke to bloomberg techs ian king. He covers the chip industry and cowrote the affirmation article the aforementioned article and Senior Editor brad stone. Esoteric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. They have been trying for years and it just has not come close. Emily why not . I
Toniitt. To start we have Steve Liesman who will tell us what is ahead for the central bank, but first dominic chu has the outlook fks stoc reporter after a blistering run for stocks in the first half of the year, here are three things to watch as the markets head bnto thek half of 2019. First, trade. Deal or no deal . Despite the fits and starts over trade negotiations between the u. S. And china,e investors h largely been optimistic that a resolution will come to pass, but what happens if things drag out . And were not even getting into what happens if america decides to stir things up with other trading partners around the globe. Cond, the fed. To cut or not to cut . That is the question. At this point markets are largely expecting that the Economic Data will lead the Federal Reserve to ease financial conditions by cuttite benchmark rest rates. Will it push the stock market to record highs or signal weakness ahead . And third, mega cap stocks, specifically those in tech,ic commion s