Spreads a little holiday chiara. Very good holiday for this one name all right. Thats not obviously all thats going on today so let us begin with the latest developments out of washington, d. C. , we are looking at the live look at the house floor. Lawmakers are closing in on a vote to impeach President Trump. Kayla tausche has the latest details. And the likely time line for you now, kayla. Brian, there is roughly two hours left of debate and remarks from Party Leadership before the house takes up a vote on two articles of impeachment against the president of the United States we just heard from the two congressman from texas moments ago. Republicans have lebron jamesly argued that President Trump is falsely accused of wrong doing by a party who doesnt like him. Democrats tried to argue that history will be on their side. A few moments ago we from justin amash who left the Republican Party earlier this year and may have president ial ambitions. He is going to be voting for impeachment
Company could run out of cash next month. The week that was from the tech in the crosshairs from hong kongs prodemocracy demonstrations. Now visa, mastercard all valley got from facebooks cryptocurrency group. First, our top story. There has been a breakthrough in u. S. China trade talks. On friday, President Trump said we have come to a substantial phase one deal. Hes not part of the discussions, but what is not part is huawei. I want to bring in sarah mcgregor. What, talk to me broadly, did we learn about phase one of the deal today . Sarah what we do know about this deal which trump describes as substantial and a lot of people are parsing through the details the see if that is the case. Row we know is the Trump Administration has said they have reached agreement with intellectual property issues. There is a currency pact inside the agreement. There is going to be agricultural purchases, up to 30 billion from china over the next couple of years. Just a few of the aspects of it. This
Lets check where we stand on this wild markets day stocks taking a dive in just the past few minutes, now down 130 points all the major indexes reversing at the tenyear yield hits its lows of the day. And that is a sign of worrisome growth ahead lets go to bob pisani hi, bob. Hello, tyler. Again, markets roughly tracking bond yields. Take a look at a chart weve shown a lot recently the intraday of the tenyear versus the stock market here we saw a program come through as yields dip below 1. 5 here weve been trading practically in lock step with those yields today. See the market here with the tenyear yield on the top there in the s p on the bottom this is an intraday. And pretty much moving in lock step i want to note two weak sectors today. Retailers are continuing to get slammed today. Macys gap, l brand, all down another 4 these all of them are down about 20 this month i want to highlight transports common theme here. Logistics and trucking like jb hunt and rooyder ryder, all wear to
At the New York Stock Exchange you can say stocks are sinking you can say they are stinking, folks. Trade tensions in washington, eamon javers has the latest from the white house on trade and Steve Liesman is here to explain what is a yield curve inversion and why it has so many people so worried. Lets begin with mr. Pisani at the nyse it is weak Global Economic data remember, yield curve inversion is in effect, not a cause. The Global Economic data that is issue were seeing those sectors that would respond to that are the weakest, including retailers, energy, semiconductors, and industrials. Everything is down rather uniformly, anywhere between 2. 5 to 4 . A lot of emphasis on sectors that are already deep into correction territory, were talking more than 20 down from their recent highs and almost all of these are due to trade tensions, Global Growth and tariffs being the two big aspects of that. Pharmaceuticals is the one exception off the highs, a lot of separate issues dealing with
Adami. The selling is widespread with the dow dropping more than 800 points all 11 s p 500 sectors finishing the day in red the market meltdown leaving investors on edge and sparking fears a recession could be on its way. What is your take on the day, guy adami . My take on the day is it makes a lot of sense volatility is here i think volatility will continue to grind hard. Pete can speak to this when is it over . Thats what everybody wants to know so i can pontiff indicatic. We are looking for a vix that climbs to 30, we have seen it peak out before. Or you are looking for the s p 500 to put in a low of 2690 or so, which is midway between the low we saw december 24th and the recent high in the s p 500 of 3025 carter will be on and im sure speak to levels, but those are the things you are looking for in terms of it doesnt make sense, i think it makes sense and i will say this as well. The gold market has been telling you Something Like this has been in store for the last few months, me