Washington says the meeting was constructive. Joe biden is the front runner of the democrats second night of debates. Breaking news out of south korea. We are getting cpi Inflation Numbers missing expectations for the month to month. It is contracting 0. 3 . The second month seen cpi inflation in south korea track in the negatives. In expectation of prices to stay flat, but we are seeing deceleration monthtomonth. Year on year, it is also a miss. 0. 6 tion accelerating instead of the expected 0. 8. Also deceleration from the previous month of june. Year on year growth of 1 acceleration of core cpi year on year. That is a little above expectations, but the numbers that matter, monthtomonth and year on year are missing estimates. Monthtomonth deceleration and deflation for a second consecutive month. We have seen pressure given oil 14 es, brent crude was down on average. This could put pressure on prices. We still have to say, very well below that target of 2 . Lowerven after the ok thei
Good to have you with us on this monday. Our investment committee, joe terranova, jon najarian. We begin with the markets. The number of sectors hitting new highs today as the china trade talks are set to get back on track the scenario which we sort of laid out last week was likely. You come away from the g20, get some nice talk, get no new tariffs and the market was likely to enjoy all of that. Yep and we certainly did anybody long in the market overnight and into this Early Morning was very happy about that, judge. And since its a Trading Market, pete pounds the table for that all the time, i believe its a Trading Market ive liquidated more than 50 of my portfolio today thats not a buy and hold portfolio, thats trading. I did that, scott, because we had explosive moves in baba, in a bunch of these stocks. Wonderful to see these moves and it was foretold josh, you look at the names, sky works, micron, broadcomm, amd, you go down the list, this is the area we told you to look at if you
Billion of e. U. Products. Hong kong protest take a violent turn. The government commends vandalism. News out ofing south korea. We are getting Consumer Prices for the month of june year on 0. 7 . Ricing this is as much as it rose back in the month of may but also slightly disappointing yeartations of a 0. 8 rise on year. Month on month, it contracted zero point 2 , which is a bigger contraction as expected for the month of june. We have seen a lot of pressure for Consumer Prices. We are talking about lower oil prices. Brent crude prices down 20 on average in the month of june compared to one year earlier. Not to mention the domestic demand in south korea is pretty weak at the moment. The bank of koreas signal we will probably miss the forecast of 1. 1 inflation in 2019. Pretty far away from the 2 inflation target for the bank of korea. We can see proof that inflation and theions are low inflationary pressures are low. Gaining onlyr cpi 0. 7 , missing expectations. s ctia gaining only
The annual earnings forecast falls short. Shery lets get a quick check of the markets close. The s p 500 fell the most since may 31. The 10 year yield fell below 2 . It was already a shaky day when he came to the equity markets. Rising geopolitical tensions between the u. S. And iran, not to mention a drop in Consumer Confidence as well as numbers that dampened investor sentiment. In you have the fed chair Jerome Powell and the st. Louis fed speaking, investors did not like what they heard, saying a july rate cut should be limited. We saw every sector on the s p 500 in the red, tech and communication stocks leading the decline. Gold jumping the most in six years, not to mention the yen also rallying. U. S. Futures at the moment really not doing much. Lets see how we are setting up for asia. Asian futures appointing lower, going into it the session. It may complicate u. S. Secretary of state pompeos visit to india this week. In new zealand, kiwi stocks trading flat, halting a sevenday a
U. S. China trade war. The yen currently, 107. 85. A little flat at the moment. One of the strongest performers in asia over the past three months. Hong kong dollar also one to watch. 7. 7 a. Much flat. 778. You much flat. Bond yields lower. Yields in asia pretty much tracking the u. S. Indonesia, the philippines attracting investors. When it comes to commodities, lets take a look at where gold is. Wti currently down 1 . I want to show you this chart. All of the twists. We are talking about yields. Chinese bonds, seeing much a search a surge. First time default in june compared to just one back in may. To put that in perspective, we started to see defaults in 2016 and still low compared to developed markets like the u. S. You are looking at india. Big day. The focus could switch to india quite quickly. It is budget day. Modisst after narendra election win. We saw the market move yesterday after we saw that economic survey. We also heard from the government advisor saying they will stic