You just heard steven major of hsbc talk about the recovery that is out there, and it is a mystery. Already come our conversations this morning have really showed the massive ambiguity we have going into 8 30 this morning, and then jons conversation with Lawrence Kudlow near the 10 00 hour as well. It is an extraordinary day. An up market, and some stasis in the bond market as well. But we have said this all morning. It is not just about the payrolls report for the Establishment Survey. It is about the slew of Economic Data we get out today. Jonathan it is also not just about the data. It is also about the reaction to it. How will the administration respond to the bounce in the Economic Data, and how will it shape the fiscal effort in the month of july, when clearly, more help is needed . My personal worry is not that they dont something. I think for many people, including the likes of pimco, it is a matter of when, and not if. But do they move away from offsetting the income shock tow
October 14th. David we want to join mike mckee in new york. We got ism numbers. They were not a surprise and a good way. Michael they were a surprise and a terrible way. Purchasing Management Index falls more than one point. It is the biggest drop in the first contraction since 2016, january of 2016. Even worse, the underlying numbers, new orders fall of 47. 2, unemployment falls to 47. 4, inventories rise to 49. 9. 50 is the abiding line between growth and contraction. When you have inventories rising faster than new orders, there is a strong correlation with recession ahead. We are not in recession yet, but manufacturing seems to be good david when you get numbers like this you wonder why. We see pmi numbers softening. Is it because of theariffs that were just increased over the weekend . Michael that is what manufacturers are saying. It has a quote saying comments from the panel trade remains the most significant issue indicated by the strong contraction. They are saying the trade w
Dow fell about 150 points as President Trump says this morning theres no trade deal with china just yet. Shares of p g, Procter Gamble, up 4 after its Earnings Report. This is a record high for this stock. Well have much hoar on that later on thank you very much with the dow just above 27,000, the president this morning saying we would be 10,000 points higher at 37,000 on the dow if not for the feds actions. So with 24 hours to go until the fed decision, we know the president would give jay powell an f for his performance as fed chair, but how did chair powell do in the cnbc fed survey . Mr. Liesman knows. Steve. Yeah, im not doing the grading. Our panelists. About 40 or so economists and fund mangers in the survey, giving powell a bminus. You can see how this compares with the final grade of yellen, a bplus, and bernanke at a straight b and you know what, powell had to navigate hikingerates and then going to hold and then going to what looks like a cutting modality here, mode for the
Market stampedes to the bond market. Huawei may be collateral damage. We hear from the companys chief market officer. Sophie Financial Markets taken for a ride on produced terror threats on top of reduced trade when it came to manufacturing pmi. 2 from gains the losses. Check out the dow weighed by. Tocks like nike u. S. Futures hinting at further losses earlier in the asia session. Switching the board to check in on treasuries, rally across the curve sending 10year yields not seen since investors are as boosting their fed easing bets. Of thatd a strength string of we get Economic Data yesterday with japan and south korea pmi in that contractionary territory. An addition, we had news out of hong kong that retail sales had its fifth straight monthly decline. Were also awaiting another slew of earnings from asia. Want to check on the yen here after that trade news. Trump tweets announcing a new 10 tariff on 300 billion in chinese imports, not yet an effect. He goes into effect on january
Of displaced anger. You are area going to pay somewhere between 2040 less than those other countries. Same exact drug. Laura that was directed toward the indictment. Now predictably biden did still clear of his sons legal troubles which took a marked turn for the worse today. Hes technically facing big prison time over federal gun charges after the Sweetheart Plea Deal actually collapsed but is this all a smoke screen to hide the other crimes that involve others in the biden family, joining me now is Sol Wisenberg Fox News Contributor as well as david schoen former trump impeachment lawyer. All right, sol, i do kind of agree with what Vivek Ramaswamy tweeted out earlier that this seems a little bit like a smoke screen because, is it bigger than the biden familys perhaps being on the take with the Foreign Government than having our Foreign Policy affected by it . Probably not. But nevertheless, real jail time a possibility. Your reaction tonight. Real jail time is not much of a possibil