Term. He talked about a weakening economy, headwinds developing enough to trigger optimism in the Financial Community that he is going to cut rates at the end of this month. Maybe not by a halfpoint a lot of people saw happening, maybe a quarter point, just in the course of his testimony, one of the fascinating things i discovered there was about 60 probability we would see we could see a cut in rates by end of this month. When it came to halfpoint cut down to 16 . But again the expectation is that a cut is coming. He is he is making the case for such a move. He is not telegraphing additional moves. We want to say on this, give you a flavor what is happening here. Democrats on this committee have been pouncing whether he feels pressure from the president of the United States, that he should essentially do his bidding to cut rates. He has said no, he doesnt think the president can fire him. By the way the president cant fire him or demote him. Leaving that aside he stood very strong on
Companys ceo as it also gets ready to report after the bell speaking of earnings, it is the busiest week of Quarterly Results, nearly onethird of the s p 500 and 20 of the dow are reporting. F apple and amazon lead the way this week. Lets begin with tesla, rallying in the premarket today, following musks visit to china. The company, winning approval to roll out its full selfdriving technology in that country, jim. This is a partnership with baidu, being called a watershed moment for fsd you need to have i remember when i rode in a waymo, which is googles product, you had to have the google map you just need this infrastructure in order to be able to make it. It was obviously being withheld. Is it worth 22 points . I think that people were short tesla, betting there had to be more lets say, more earnings problems i mean, theres an evercore piece, lowering price target, that was probably prechina. But david, there is a sense among the companies that make selfdriving that theres this holy
Session. Now things, if you can believe it, they arent as a bad as they were earlier in the session. The dow was down 706 points at its low, now down 442. The s p 500, its falling by 31 at the moment. The nasdaq is recovering somewhat from its low of 368 points, now down close to 134. And the russell 2000 is down by 17 points. Of course, those are the small caps, really not great with the Interest Rate outlook from the fed with todays gdp report. And that e do klein set in motion decline showed that the economy grew much slower than expected and that inflation remains persistent adding to fierce over Interest Rates and stagflation. Plus, Jpmorgan Ceo Jamie Dimon pouring more fuel on the fire, this morning he expressed serious doubts about the likelihood of a soft landing. I look at the range of possible outcomes, you can have that soft landing, im a little more worried that it may not be so soft, and inflation may not quite go away. The odds of a soft landing, the market kind of prices
No. What does that say minus 7 degrees whoa. Andrew, did the lawyers have their hands in other peoples pockets in their own pockets. Lawyers target joe this time, he said it not me you gave me that one. It is that cold thats making davos look like miami. Youre not outside. No. No we got glass here. Can you see . Beautiful makes all the difference. We have a big show. Well tell you about it in a little bit you have some cool guests we have awesome guests. Unbelievable guests. You cant see them, but kenny d. Is there did kenny step up to the plate with russell and some that was him, right . Russell wilson will be joining us Larry Fitzgerald will be joining us bob kraft will sit in with us. Kneel ca Neel Kashkari will talk to us this morning also. Hes not a Football Player, right . Kashkari no. No he looks like a Football Player youre right. Kind of does a little like the rock. Well check back in with you in a bit. Im glad that you are in the warm its still cold a little bit are you weari
Daughter sherri and the ceo and leader of viacom Phillippe Dauman. This morning he has filed a lawsuit just moments ago along with George Abrams in the massachusetts probate and family Court Challenging changes purportedly made to the trust arrangements by an attorney claiming to represent mr. Redstone. In a legal complaint, these two gentlemen, mr. Dauman and mr. Abrams who again have been removed from the trust that oversees the stake in National Amusements that in turn controls viacom and cbs, they are going to the court saying they want immediate judicial relief and a court ruling to invalidate the purported removal of them by mr. Redstone as trustees of the trust and also invalidate the removal as well as directors of National Amusements. They would assume then want him, that is mr. Redstone, to be deemed potentially incompetent and not able to make decisions. And very harshly worded language, guys, that accompanies this lawsuit. In a press release i just received Phillippe Dauman