En happy wednesday morning im Lauren Simonetti welcome to fbn amy l. Cheryl its thanksgiving eve. Thanksgiving eve. All right good morning. Lauren good morning. Cheryl Cheryl Casone no food has been made. Lauren money is moving this morning holiday shortened week but look market continues to melt up towards new record highs all three major averages will open in record territory today dow up 37 and 100th record close under President Trump. So many thingses happening in asia and markets are chosely following every twist and turn of u. S. China trade negotiations. Pretty much youve got green across the board xepght for shanghai a little bit of pressure over there overnight. Stocks are trading to the upside as well half of a percent gain in london and in frankfurt. Cheryl we start with breaking news a massive Chemical Plant explosion just happening within last couple of hours this has sent flames shooting through air this is happening near beaumont, texas right now. This doorbell camera fo
Operation twist, where we just had a liquidity dynamics last time i was on we talked about Earnings Growth bottoming and reaccelerating of course the rate of change is what boosts the multiple so were this one of those periods where it should extend not just through end of the year, but into the beginning of next year as well. So if you think about when those rallies stalled out after qe2, that was the point where everyone realized all that liquidity didnt really boost earnings all that much and by then stock prices were ahead of fundamentals but between now and then, i think that the path of least resistance is still higher lets take a quick look at treasury yields. The fed operations is a large part of why. The ten year is yielding 1. 73 and meanwhile Chinese State media, remember on sunday the pro democracy candidate scoring a landslide victory winning almost 90 of the district down can still seats. And now beijing is calling the election a setback for hong kongs Democratic Developm
Charles the economy continues to be a lot stronger than the expert consensus. This morning gdup 2. 1 , beat consensus. Durable goods up. 6 a percent, beat consensus. Business investment crushed consensus. What does it mean for the markets . I would like to bring in fhn financial chief economist chris lowe and jack ablin of crescent wealth management. Let me start with you. Economic data continues for the most part coming in better than anticipated. It does the same experts. You are part of the expert pool. Say, of course it came in better. The gm strike is over. Of course it came in better but im just, i find it remarkable, it feels like it can continue . It does. And i think thats, if you take a step back, think about how the story has changed in the last three or fourmonth, the biggest thing is we were talking about recession, right . Will it come before the end of the year . Is it a 2020 story . Nobody is talking about recession anymore. The economy is fine. We are growing and i kno
Street stocks set to open at new records once again the stock market just hit another all time in history high, meaning 401 k s and jobs everybodys getting rich and im working my off. Shares of deere sliding, ahead of the open. Issuing a profit warning for fiscal 2020 as trade tensions persist. The toys r us come back, after shuttering all the stores, the new Companies First toy store set to open in new jersey this morning as stocks look to set some new records on optimism about trade, Economic Data today is also in the mix. 3q revised up. Business investment up 1. 2 proxy for investment, that was not a good number last month making up for it now. In tune with what the market has been trying to say, which is that we had this soft patch, were pulling out of it, i think there is a real willingness by the market by investors to look through any near term kind of softness in the incoming numbers because they feel as if we kind of escaped the greatest risk i think these numbers would confir
You start to ask yourself whats next . How about a usmca deal, a trade deal . Could that send the markets even higher than they are now . There is a meeting underway today, in washington between trade reps from the u. S. And mexico. Well talk about that. Start real clear markets editor, author of a new book, theyre both wrong. John tamny joining us now. Talk about your book in a second, john which i started reading. It is great. Often times they are both wrong but lets start with this market and whether or not a trade deal on, usmca may be combined with some start with china. Does that send stocks even higher than they are now . What do you think . My sense that is why you have seen some of this uptick in stocks for quite a while. That has been a anticipation of a deal, usmca, and then also quieter talk, happier talk between the u. S. And china. Something happening there. I would add a third thing that probably soothes eninvestors minds is, all these, all this fighting over impeachment