Decision. Bullard should have called for 75 basis points and he could have the job when powell steps down to spend more time with his calculations. I agree completely with bullard, his dissent on 50. Whats he thinking . Then i read his comments and said thats pretty smart it made total sense to me. On the bullard side, this gives you a sense of why its so reasonable i would be watching very carefully for any signs of a downturn. Of course, there are views on the other side as well, from the other dissenters i think the center of gravity, clearly the center of gravity on the committee is the second adjustment was appropriate. Thats right. Fed president jim bullard joins us here in just a moment josh got a cameo in that little mashup. Lucky you didnt wear the same tie. Some of my best work. Yeah, you have to give me the heads up on that. Building throughout the day, hopes of the trade deal, really good housing data. Yeah. What are you chalking it up to lets do housing first. Xhp, itb, ho
Over. 1 treasury yields, this morning were taking a look and youll see that its trading at 1. 5 . 1. 543 to be precise the two year a little higher than that in terms of the yield. 1. 518 this is no way to run a business, obviously. Im talking about torte reform and things like that when one judge can say yeah, 17 billion he didnt. No, he didnt but he could have thats what we deal with in todays with trial lawyers. Now to get to a developing story this morning, i got my editorializing out even before. Started at least. Thats what the story was Major Court Ruling this is just one state too this is oklahoma we know about the Opioid Crisis. It was against Johnson Johnson. The judges ordered them to pay 572 million for country bouting to the opioid economic in oklahoma under the public nuisance law theres 50 states by the way. Theres also municipalities. Think about it. It says j and j and its unit repeatedly down played the risk of addiction doctors were targeted as key customers. It cove
By. 7 the hang sang was up by 2. 1 the shanghai composite up by 2. 1 in europe right now where there is active trading taking place, green arrows across the board. The biggest gainer is the footsy up by. 8 . Quick check on treasury yields which was so closely watched last week when you saw the temporary inversion in the middle of the day between the 10s and the 2s this morning, 1. 618 the two year is 1. 15 so showing more room than we have seen over the last several sessions. We have a huge week ahead for wall street. Kicking off today, big tech executives testifying at ustr hearings then tomorrow, quarterry lults from home depot, kohls and t. J. Maxx wednesday, fed reports on existing home sales plus reports from lowes target and l. Brands and thursday jackson hole symposium kicks off where, of course, Steve Liesman will be. All leading up to fed chair jay powells big speech which will take place on friday but meanwhile, we want to pivot right now to an update on the big story over th
With tim cook. And one company is shrugging off concerns about an economic slowdown in china. Well tell you which one it is. A moment of truth for lyft as insiders get their first chance to sell shares at the open stocks are set to build on fridays rally, were heading into this mornings trading session, the dow is within 394 points of recouping all the losses from that wednesday selloff of 800 points is the economy at risk of recession . Take a listen to what the president and some of his top aides said yesterday i dont think were having a recession. Were doing tremendously well. Our consumers are rich i gave a tremendous tax cut. And theyre loaded up with money. And theyre buying i saw the walmart numbers, through the roof. I dont see a recession we had some blockbuster retail sales consumer numbers towards the back end of last week. We had the strongest economy in the world money is coming here for a stock market also coming here to chase yield and our bond market. Vice president tod
De dedra bosa, what did we miss they looked particularly ugly next to lyfts yesterday its quarterly loss was its biggest ever, now a large part of that was cost related to its ipo. But ubers also facing ridesharing competition in markets abroad like latin america and india. Competition is even stiffer in food delivery. We saw that play out in this earnings its either business, ceo telling us that it is likely they will keep losing money here for years as, quote, theres a lot of capital chasing a lot of growth. As for the question of overall profitability, this is what really matters most to the street, while lyft was pretty direct on their path last night, saying that last year was, in fact, peak losses for them, ubers ces on was less clear telling us, quote, we think that 2019 will be our peak investment year, and we think that 2020, 2021, youll see losses come down i think our break even is something that we can push the company to break even if we really wanted to frankly, he added,