Welcome to you you and i were chatting about the new space spot that were going to talk about. How is that indicative to risk in this market. You have a spak, which people doing it as long as i have they know the history but its essentially a blank check to merge with a company thats going to take people to space. What does that have to do with the fed it has to do with the risk mentality of people out there. If the fed is going to drive rates down to the negative, people are going to go out and try to find Investment Opportunities and i think this is the perfect metaphor what we saw in the markets the facts were talking about stocks like chewy shows the mentality here of how people are thinking. Lots to discuss over the next hour welcome back. Great to be back. Wouldnt miss a pepsi earning day. Mike doesnt hear its an important company. The word he used is improper hp his words not mine Morgan Brennan has galactics plan to go public. Susan has details on a trade rift between President
Weve got a big show coming up and interview with wilbur ross this morning and acting director mark morgan mere to talk border crisis and member of the Senate Budget banking and Arm Service Committee also here this morning on technology, trade, to discuss the real estate market, as we get house hadding data out as well. Plus founder of chairman and chairman of Equity International joining us this morning as well. Dont miss a mommy of it weve got a big three hours joining conversation this morning, cfr investment strategist lindsay belle here as well as former home ceo former ohio state is a senator minority leader American University school of Public Affairs president , capri great to see everybody this morning. Thanks so much for being here. Good morning its exciting. Excite because here we are in the beginning of another week of Second Quarter earnings and were going get a good window into the economy. Lindsay what can you tell us in terms of how earning season has kicked off. So far
Points at the s p. The dow up 72 points the nasdaq looking to be higher by 32 points in asia we saw a pull back from yesterdays gains off the china u. S. Trade truce hang seng is off just a fraction over in europe, european equities are mostly higher the dax is up by 0. 8 . Perhaps europe is still digesting the news that Christine Lagarde will head the ecb. The first woman to do so treasury yields fell back below 2 yesterday and remains there right now. 1. 895 the global story here, the benchmark german bund yield has fallen to a new record low, negative 0. 385 right now. It was negative 0. 4 earlier. The italian tenyear has gone from 2. 8 to 1. 7 in the space of about three weeks. Lagardes appointment seen not just in the german bund yield as not potential hawk, she will be more dovish, but someone who can operate politically and avoid a clash on the italian budget. Both appointments being European Commission president and ecb president being german and french shows the power brokers,
New bull run as we get ready for the second half of 2019 . The Halftime Report with scott wapner begins right now. Welcome good to have you with us this monday joe terranova, scott brown, sarat, shannon here. Dow closing in on a new record again. New pace for its best month since october of 2015. Its been a great month. Were going to roll into the second half with pretty good momentum whats going to decide whether we can keep it or not . Well, i think the prevailing trends will remain intact. Take a look at microsoft and walmart. These stocks continue to roll up anyone thats been betting against them have been out for a long time. A lot of people are coming to those stories new. Its shocking how big those market caps are for the respective sectors but you till have people coming to these sectors saying i missed a lot but i still feel theres upside i think that continues the two best looking sectors believe it or not right now away from tech continue to be Consumer Staples xlp. And agai
Street that the Federal Reserve is likely to cut rates as soon as next month. With stocks back at record highs do you trust in the fed and keep pressing the buy button, guy no. I know it is wedding season dont use this song. It is amazing she is in my head if you are thinking about playing this song, dont do it. Theres no circumstance this song should be played at all. Sounds like he played it at his wedding. No, i didnt. Anyway, back to the record high. Yes, label me skeptical listen, lets go back a couple of months and i thought the s p 500 would get down to 2650 it got down to 2730 so i was off there. Here we are. I understand why it is happening, and frankly the reasons dont matter if the market went up and you were long you made money and thats the bottom line i will tell you, label me skeptical with 24 of global sovereign bonds with negative yields, with gold making a fiveyear high, seemingly breaking out to the upside, with utilities making alltime highs, with every asset on the