Magic. Power lunch gets started right now. And lets check where we stand at this hour were off the highs of the day the dow up 200 points right now, but the session highs were about 100 points above that when we were up more than 300. S p and nasdaq both up about a percent as well. Even though asian markets were down 2 overnight, so a real turnaround for our markets today. And take a look at apple, the stock is jumping after one top analyst says that the tech giant might be tariff proof. Well explore that a little later this hour, kelly thank you, bill the big news affecting the markets today coming from the g7 meeting in france. Its been changing quickly hourly lets go to eamon javers for the latest yeah, kelly, thats right the president has left the country, air force one was wheels up from biarritz france a short time ago, and that brings to a conclusion the g7 where everybody involved was at pains to strike a message of unity it ended with a Fascinating Press Conference between Emm
Stock exchange to help make sense of this weeks wild moves. Other people want to make friends, i just want to try to make you some money. Well i do have a few friends here today [ cheering and applause my job not just to entertain but to teach and educate so call or tweet me we know this market is turning into a roller coaster. Dow down 312 points and s p climbing 3 and nasdaq after yesterdays terrible session the reason because we dont know if were in a trade war or a cold war does the Trump Administration want to strang arm china into buying more americanmade products or destabilizing the Ruling Communist Party we dont know. Are we neglige are we negotia with prc or is this when james bond said do you expect me to talk and he said no, mr. Bond, i expect to you die. The free traders in the white house expect them to talk. Larry kudlow came on this morning, squawk on the street and predicted productive talks in the september after the 10 tariffs go into effect but the hardliners on the
Hoenig and liz peek. Heres Elizabeth Warrens dire prediction, in a post she titles quote, the coming economic crash and how to stop it. Warning lights are flashing, whether its this year or next year, the odds of another economic downturn are high and growing, end quote. Warren goes on to lay out some of her own plans but ultimately calls on the president and congress to regulate the Financial Sector and reduce middle class Household Debt. So are we really on the brink of an economic crash, or is she just trying to scare people and push her own economic agenda . What do you think . David, this is an incredible example of misinformation gone wild. This piece that Elizabeth Warren put out has a whole lot of facts and statistics, none of which in the aggregate really meet the conclusion we are even close to recession. For example, i could go paragraph by paragraph. Obviously i wont. She talks about how Household Debt is at a record level. Household debt grows when the economy is growing a
At the open. S p looking to be up by 1 point, the nasdaq off by 1 1 4 points overnight in asia, japan was closed for a public holiday. No trading or the nikkei most of asia was digesting Economic Data out of china the Second Quarter Economic Growth gdp slowing to 6. 2 , also coming off 6. 4 in the first quarter. Thats the weakest pace in 27 years. Industrial output, retail sales data also fixed Asset Investments were all above forecast chinese shares were down before the data was released. Then they turned positive. Overnight in europe, we are looking at i thought we were going to follow asias lead, pretty much flat across the board. The dakotas is off by 4 100 of a percent. The treasury yield market, the twoyear note 1. 845 . Just mention on the china data that markets responded better to the data for the first portion of trading in asia and europe and weve just sold off a little bit in the last few hours. As you pointed out that was just for june. Gdp for all three months it did see
And with utter disdain for the people whose lives they want to run. Good stuff. Thats a blast right at the elites. Thats the president s theme for 2020. They dont care about you but i do. In the last 24 hours, the president s campaign brought in a record 24. 8 million, almost entirely from small donations. In new york city, joe biden raised 20 million entirely from the elites. I think its time we got to the fed, shall we . Five hours from now the Interest Rate decision and more importantly, the outlook for rate cuts later this year. That arrives at 2 00 p. M. Eastern. We will also see if chairman powell responds to the intense pressure for a rate cut that hes getting from the president. A flat market in advance of that. The Interest Rate news from around the world this morning is grim. Not here, no, over there. In four European Countries and japan, things are so bad that when you buy a Government Bond, you dont get any interest. In fact, they keep some of your money. No wonder the mone