Even through the misty fog on this wednesday morning. Welcome to the 9 everybody. Just taking a look, i mentioned baseball, i was looking ahead to football. Football season is about three weeks away. I know. I think it is like august 8, that weekend, when the first preseason game is for the 49ers. I feel like it is still summer. Havent you been craving it . Mike loves the fall. The season changes, you start to get football up and going. Oktoberfest. Cool your jets. I like july, too. Yesterday and the day before was amazon prime day. That is not over. Apparently shoppers are jumping ship. The internet searches for canceling amazon prime were 18 times higher on monday than normal. That suggests subscribers are signing up for prime just to get the twoday deals and then they were logoff or just cancel. In the meantime, amazon said it sold 70 175 million items during this years event, more than it sales for the past black friday and cyber monday can bind. A lot of people out there are buyin
This after a day of trading that saw s p 500 hit another alltime high, second straight day of record. Meantime investors are cautiously awaiting upcoming earning season with 80 of s p 500 Companies Reportedly cutting earnings forecast. Joining me research chief macro strategist lenor hawkins, what is driving the market to plus side if you watch the bond market, 10year yield falling and closing below 2 yesterday and then you this percentage of s p 500 Companies Cutting their earnings forecast . This is really all about the fed in the hope that easy money will keep prices going up because this has nothing to do with fundamentals, if you look at what happened at first half of the year, s p 500 rose 17 , the strongest first half of the year since 1997 but if we look at earnings, if we look at whats going on with the fundamentals, earnings declined 4. 4 for the s p 500 for the First Quarter and expect today decline negative 2. 3 in second quarter, you have prices going up while the actual r
Overall, stocks are moving slightly higher ahead of the opening bell. Remember, this is a shortened day of trading because of the july 4th holiday. The market closes at 1 00 p. M. Eastern for the fourth of july. We are remembering an icon in the Business World. The ultimate salesman of all time, lee iacocca, has died at the age of 94. Hes best known as the father of the mustang and for saving the company chrysler. Well have much more on his impact throughout the morning. Varney company starts right now. David President Trump is changing the annual fourth of July Celebration in the Washington Mall thursday. It will include a flyover by military aircraft, more fireworks and the president will even give a speech of his own. The president is already tweeting about it. Quote, our july 4th salute to america at the Lincoln Memorial is looking to be really big. It will be the show of a lifetime. You can bet on that. Joining us is brad blakeman, former Deputy Assistant to george w. Bush, and so
Falling back below 2 . As i said, the s p 500s essentially flat at this moment. The dows just lower the nasdaq down 0. 1 the russell looks down a full percent as regional banks down almost 2 . Joining us for the hour today to break down the Market Action is steve grasso from stuart frankel. Great to have you with us. Good to be here whats your take on this sort of softish session only a day or so after great positive trade news . You have a holiday week, so you have a shortened, abbreviated week you have people looking for either you had a rebalance on friday, you had end of quarter, end of month, end of week. People are starting to take a big, deep breath in. Seeing where they want to reassess, and and redistribute their Equity Holdings its all about the fed people are on fed watch right now. Thats really the only thing that is taking up the brain of a lot of the Market Participants right now. Even though trade is all over the headlines, its still fed. Fed still cut, but the trade tru
Alleged coconspirators, but how will it fit in. Plus a live report from maui, where the governor says the death toll has risen and probably over 1,000 people could still be missing. Good evening. Thanks for joining us. We begin with two pieces of Breaking News tonight. The first, weve just learned of charges in texas connected with alleged threats against judge Tanya Chutkan, who has presided over the Subversion Trial of the former president. According to the court filing, the woman, who lives in alvin, texas, left a threatening, racist, and bigoted vase mail for judge chutkan on august 5th, saying, if trump doesnt get elected, were coming to kill you. You will be targeted personally, publicly, all of it. Authorities visited the woman on the 8th and according to the filing, she admitted to making the call from her home telephone. Breaking news as well in the georgia racketeering trial. A Federal District judge setting mark meadows request to move charges to Federal Court. This will be