With Steve Liesman and fresh comments frommed fed chairman. Jerome powell sieve times said Interest Rate policy depends on the Economic Data he added the economy is overall in good shape despite troubles on the horizontale many indicator show a strong labor market solid job gates. Unemployment at half century low and rising prime i age participation. There are risks. Prin will i from Global Developments growth around the world mass weakened the last year and a half and uncertainties apprehend trade and, brexit and other issues close risks whats did are does it mean for the outlook process . He appeared neutral about what the fed would do at the late october meeting. Markets took his comments as affirming expect aches for rate cuts jp morgan if the fed leadership wanted to push back gesticulate against expectations we think powell would have chosen language not calling out downside risk. Speaking in denver, the fed chair said the central bank will increase the size of the Balance Sheet
One obviously will be iphone revenue, it is 26 billion, basically in line with what the street was looking for it is down 12 , but it is an improvement from q2. Remember, it was down 17 . I had a chance to catch up with ceo tim cook i asked what kind of impact the Trading Program was having there. Remember, one big roll here for the iphone franchise, why it is facing challenges, the replacement cycle is getting longer i asked cook is the tradein program impacting that at all. He said it was, it was a key reason for the sequential improvement. Services will be in focus, 11. 5 billion. Though apple has the onetime litigation settlement. It is up 15 from the comparable figure a year ago. I did ask cook about some of the new services on the way like the new Video Streaming Service and i asked him, melissa, how he will judge the service cook telling me the most important thing is, one, the product, and, two, the number of subscribers, whether we are going to announce it i dont know we only
Im Courtney Reagan. Stocks trading again in another fa narrow ray but another high. A volatile session for oil. Saudi arabia and three other countries cutting ties with qatar raising concerns about supplies. More on this as oil prices fall. And whats moving. A major cancer conference under way in a number of biotechs rallying as a result. Loxo and puma among them. Herbalife down 6 of its latest outlook. Brian . Here is what else is happening this hour. Csx shareholders approving a proposal to reimburse 84 million for arranging the hiring of a new ceo hunter harrison. The ceo of mantle ridge, by the way, is the vice chairman of the board for csx. In the skies the good times continue to roll. Airlines globally are collectively raising their profit forecast. The Industry Group that represents more than 200 Airlines Says the profits should top 31 billion this year. Thats about 1. 5 billion more than previously forecast. And the Supreme Court scaling back the s. E. C. s power to recoup prof