Treasury market, youll see the ten year right now is yielding all the way up at 1. 829 30year back at 2. 3 so some much higher levels of yields than weve been used to in recent month. Our top story, a series after attacks that took place over the Weekend Energy prices are soaring. Wti crude at 59. 55 brent at 65. 60 Big Questions for the future of the aramco ipo airline prices, all sorts of things Brian Sullivan is covering the huge moves in the oil prices in houston. But we want to start this morning with hadley gamble in riyadh, saudi arabia good morning, hadley. Good morning, guys. We are now over 48 hours from the largest ever terror attack on saudi arabias Oil Production facilities and still very muted response from not just the government itself but aramco were told in the next few hours we could see more information coming out of the company just about how this happened information about output, at the moments all we really got go on is the reemphasis time and time again on the
Of the New York Stock Exchange carl and morgan have the morning off. And were going to begin with tech bracing for tariffs now just days away from going into effect on september 1st trade tensions between the u. S. And china not slowing down, as the wall street journal reports that u. S. Prosecutors investigate new allegations of Technology Theft against huawei. Acme capitals heene nada and kevin dilanian, of course, both join us here at post 9 happy preLabor Day Weekend. Good morning. Heenne, you were a protough stance gen china when it comes to ips and other things. When it comes to these tariffs, september 1st, december 15th, are you pro this approach . Does it depend if it gets nearterm results . I think the tariffs are going to do some harm in the nearterm. I think youll see pricing increases in the u. S i think youll see trade tensions worldwide globally. But i think the longer term impact is actually much more detrimental to china than it is to us. Whats happening is Tech Compan
Third, boy, is it ever in the way even with record numbers after a day with the dow losing 79 and s p advancing and nasdaq gaining, the last two both records. You need to understand that the government has become the one wild card in this market and does reek havoc on all sorts of stocks last fall the fed created its only personal bear market because he told us he might need to raise Interest Rates over shooting to stamp out inflation, which at the time was nonexi nonexiste nonexistent totally out of touch and crushed the market powells rookie mistake almost gave us a recession but came to his senses in january and changed course but we never should have been in that position to begin with thats what keeps happening. We never would have gotten in this mess with janet yellen. She was day to driven and understood the power of her words but even though president trumps tweets are about lower Interest Rates and maybe having some effect, i dont know. Remember what he did he sat janet yellen
10ye 1 10year yield highest since july the gop does move closer to tax reform what does that mean for investors . Ge is down sharply after a wider than expected Third Quarter miss slashing the full year guidance, revenue did meet estimates in the release John Flannery said this was a very challenging quarter. While a majority of our businesses had Solid Earnings performance this was offset by the decline in power performance in a difficult market. Stay tune for david aegs exclusive with flannery. Talking with squawk about this what are your thoughts is this below 22 yeah, i actually confronted jim immelt with many of these particular issues in my last interview with him and he was very much in denial these things would occur. I point that out because today is flannerys day. This is not a report card on flannery it is a statement that says heres all the things weve done wrong. I think they did very ill advised accounting in turbines and the key phrase here is that ge capital might have
The only real takeaway is that were nowhere near a deal. Hence why the market nose dived. Dow plummeting 185 points. Nasdaq falling 1. 29 . Why ticktock portfolio . Because its becoming evident that we dont have just one traumatic worry ahead of us, the fiscal cliff itself, but a second one, which is that times not on the side of the compromisers anymore. Theres just too much going on in washington to presume that even likeminded people can wrest the debate from the partisan extremists of either party, those who sink below and not rise above. Even if youre confident that a deal can be reached someday, you had to have your breath taken away by the first question from the press after the president gave an impassioned statement about the need to avert the cliff thats going to raise everybodys taxes and just cause such havoc. Thats because the question was about general petraeus. Not the financial time bomb facing us. Oh, no. Petraeus . Petraeus . Dont you know this is bigger than petraeus