Welcome, everybody, to the aforementioned power lunch. Im Tyler Mathisen all three major averages are on pace for a second consecutive day of declines. Havent seen that in a while the dow down triple digits at this hour. Down 141 points. 175 points at its low earlier today. Now, boeing and apple account for roughly half of those losses that you see right there the russell 2000 and dow transports have both been slipping back into correction territory. Kelly. Thanks. Stocks are lower again today as apple drags down tech and the fed looms large. Bob pisani has more at the New York Stock Exchange. Hello, kelly. Downgrades are dominating trading today. Tech, including semiconductors are down the leadership board pretty narrow energy is up on oil strength the rest of the leaders are largely defensive like real estate and consumer staples. Retailers, though, doing well. Under armour, nike, and gap helping Consumer Discretionary elsewhere, no big news on the fed or trade today those are the tw
From all three major indices, with the dow down 138, s p down 16, the nasdaq down 68. Do not count out iran, guys. Mounting tensions also sending ripples of worry through the markets as the rogue nation further breaches the limits set on its enrichment of uranium and continues to boast about breaking the terms of the nuclear deal. Our twoway starter, bob hormats, former Goldman Sachs vice chair, analyzes both of these situations, iran and what is Jerome Powell going to do, but more importantly, how do you make sure your money is safe . Plus a boeing customer decides to return the goods it just ordered. Retail, no longer playing the victim. Its ready to take on amazon and big tech, and the next move in the trump trade truce with china. Less than an hour on this monday morning. Hour to the closing bell. Lets start the very First Edition of the claman countdown. Liz we are just getting this breaking news. We just got the sketches from wealthy financier Jeffrey Epsteins Court Appearance to
This speech a new poll shows overall pride in this country is at an alltime low. Is it another victim of massive Political Division . If so, how can we make it better . How can we make it better . That and more on making money. Charles the u. S. Economy added 224,000 jobs in june. Probably 100,000 more than the whisper number. The Federal Reserve keeping close eye on the todays jobs report. What will the senbanc do . Everyone thought they would cut Interest Rates at end of the month. President trump sounding off on the fed. If we had fed lowered Interest Rates. It is like a rocket ship. We dont have a fed to knows what theyre doing . It is one of those little things. If we had a fed that would lower Interest Rates we would have a rocket ship. Charles here to discuss former Jpmorgan Chase chief economist anthony chen, National Taxpayer union senior fellow mattie duppler. Mattie, let me start with you. A rocket ship a lot of people believe we would be better without the december rate cut
The cac is up and the footstsef. The yields something weve been watching closely ticking up a little more like it was yesterday and that was a big difference in yesterdays market rally compared to the risk on tone to the sector performance. Thanks for that if youre looking for a negative, we did come off the highs. A couple of offsets, but it was a more constructive. Were getting back. Ill tell you. I can tell you week ago whats a week ago when i was sitting in for melissa, everyone was bearish. Really . Monday was a big week. It was the s p 500 and nasdaq both down. But that had been after six straight five or six straight weeks, so everyone was bearish the guy from Morgan Stanley, very bearer . Oh, i remember. Swell see. Bo jo, ten more people backing him. He had powder all over his nose. Thats derailed his campaign. Really . Theyre down to ten candidates. Ten. Boris johnson will make the final two. Less than the democrats you know, watching what happens in italy and all these other
Of course, so i think we are a long way from that. Digital currencies are in their infancy. So essentially, not too concerned about, you know, the Central Banks no longer being able to carry out Monetary Policy because of crypto currencies or digital currencies. You know, facebook, i believe, has made quite broad rounds around the world, really, with regulator regulators, supervisors and lots of people to discuss their plans and that certainly includes us. And its something we are looking at. We meet with a broad range of private sector firms all the time on Financial Technology and theres just a tremendous amount of innovation going on out there. The potential benefits here, there are also potential risks, particularly of a currency that could, you know, could potentially have large application. So i would echo what Governor Carney said which is we will wind up having quite High Expectations from a sort of safety and soundness and regulatory standpoint if they do decide to go forward