Nation to closer to fulfilling her uncles dream. Ibm getting out of facial recognition business saying it could be used for good more than evil. The tech giant warning of dangers of technology. This is big news. Well have a whole lot more on that and more on making money. Charles all right, folks, nasdaq crossing the 10,000 mark for the First Time Ever but today well its clear that the overall rally is a little bit tired. Maybe looking to take a break, consolidate some gains. On that note we are seeing yellow flags of excess, speculation like massive call buying. Also running up shares of bankrupt companies. One was up 1000 . Theyre bankrupt i will say those i think are shortterm yellow flags. Nevertheless lets get the read from Capital Wealth Planning chief jeff saut and alicia levine. Jeff, i got to start with you. Youve been bullish throughout all of this. Youve been completely right. Is there a sense maybe the market has come too far too fast . Well we had a buy signal on march 24t
Pulled that into this. Treasury, we want treasury to be able to have the cash that it needs and we are essentially taking that to our work. There may come a time when we talk about that. I think we are more focused, frankly, on the bill purchases the year end and review of supervisory and regulatory issues that were digging into and we think these are structural things, right just allow the liquidity that is already there to flow more freely perhaps by making fairly straightforward noncontroversial changes. We think there is some of that if they take role changes, it will take three months and things like that these things that were working on now, like going through year end with the overnight facilities and the bill purchases and the term repo, those are things we have to do right now and are doing. Chris hi. I wanted to ask the only change in the statement was a drop in the reference to uncertainties around the economy you seem very confident or it implies theres a lot of confidence
If she becomes president mornings with maria beginsing right now. All right weve got a big show this morning joining the conversation Mitch Rochelle is here and president and pat centers the author of persuasion lee carter is here and entrepreneur great to see you thanks so much for joining us. Good to have you back. Kevin we want to talk about growth stories this morning but we have to kib this hour office on violence overnight police clashing with protesters at the Hong Kong Polytechnical University authority have tried to storm the campus. But were stopped by firessed a entrance. Police surrounded disool firing tears gas arresting those trying to leave. This is Hong Kong Court rules mask ban is unconstitutional. Joining me right now is found or of next digital and the advocate of democracy, jimmy advocate thanks very much for joining me this morning had. Good morning. Can you tell what you say went with on overnight a sense of what the scene look like today and whats happening in ho
Well and apple. That event is just wrapping up now. Announcements shaking out in the stocks of different competitors. Were going to fill you in on all of that action but joining us for the hour is steve grasso from stuart frankel. Steve, great to see you. Good to see you its amazing. Not necessarily a major move for the averages today or right now. Everything is slightly lower and actually, if you look at the week, the dow is actually flat so far to start off the week and yet theres been this great rotation talk to us about that. The rotation is coming out of growth into value. How long does that last is how long the market will be under pressure and for now, it probably will last a little bit longer, but get a trade deal, throw everything i just said out the window and you see everything rally back people are making the analogy back to 09 and 2016, with this rotation that lasted for a couple of weeks. I dont think it will be that long do you really think were going to get a trade deal
American companies should move production out of china and back to the u. S all of this with the eyes of the world on jay powell in wyoming Steve Liesman has been talking with the most powerful central bankers and will join us in a minute but to e lolon where the president lunaunched a tweet storm. On september 1st, the chinese imports supposed to be taxed at 10 will be hit with a 15 tariff on october 1st, the tariffs on 250 billion in chinese goods that were already in place will go from 25 to 30 . And then on december 15th, all of the products that we import from china will start being tariffed the rate will be 15 instead of 10 . In the tweet storm, trump said that china should not have issued retaliation tariffs 75 billion of goods and called the move politically motivated we know trump was huddling earlier today with the top trade and economic advisors how to respond to beijings move. They were all there and just before or just as that meeting was happening, the president went on a