At the New York Stock Exchange you can say stocks are sinking you can say they are stinking, folks. Trade tensions in washington, eamon javers has the latest from the white house on trade and Steve Liesman is here to explain what is a yield curve inversion and why it has so many people so worried. Lets begin with mr. Pisani at the nyse it is weak Global Economic data remember, yield curve inversion is in effect, not a cause. The Global Economic data that is issue were seeing those sectors that would respond to that are the weakest, including retailers, energy, semiconductors, and industrials. Everything is down rather uniformly, anywhere between 2. 5 to 4 . A lot of emphasis on sectors that are already deep into correction territory, were talking more than 20 down from their recent highs and almost all of these are due to trade tensions, Global Growth and tariffs being the two big aspects of that. Pharmaceuticals is the one exception off the highs, a lot of separate issues dealing with
Good friday morning. Welcome to squawk alley with Morgan Brennan and jon fortt at post 9 of the New York Stock Exchange obviously watching these markets here dow is down 331 after yesterday, deep in the red. The dow, the s p, and the nasdaq are all on pace for their worst week of 2019 tech names getting hit pretty hard, apple, alphabet, facebook, intel all down around 2 , guys this is a period in which trade concerns might result in selling thats a little more indiscriminate than weve seen in recent months and among the tech names, a look at cisco thats down closer to 4 . Some other cloud names not doing so well. You see, dell is down more than that you know, Network Appliance well, that one has its own issues but certainly, hp down 5. 5 a lot of these trade issues rippling through not just the names that have higher valuations or have high flyers, but some of these core enterprise tech names, vm is another onedown almost 8 in this trade if you look at all the major averages, were now
Your next president. I want to tell you a little story that starts about my first opportunity on fox news. Not very polite. Thats what the fox news host called me during a nationally televised town hall. Why you ask . Because i walked on to the stage and i started to hold fox news accountable for hours of lies they told about womens reproductive freedom. Hours of lies they told about w important our civil rights are, our human rights are and i called them out right on the stage of thain own network. Not very polite. You Better Believe im not very polite. Im never going to be polite when the Republican Party is attacking our constitutional rights, our human rights, our civil rights to decide when and how many children were having, under what circumstances. Those are our rights. I wasnt very polite when i went down to georgia and i stood up and said were standing up to legislators cross the country. I wasnt very polite when i ran for congress in 2006 in a 21 republican district against a
Closing down by 0. 4 the hang seng was off by 1. 1 . Then the shanghai was down by almost 0. 9 . In europe it looks like, again, a modest decline dax and the cac are relatively flat ftse down by 0. 2 . Italy and spain down by 0. 3 and 0. 4 if you check out the treasury market, you will see the tenyear right now looks to be yielding about 2. 019 . We do have breaking news on Warren Buffett he is denying reports of tensions between him and 3g capital and kraft heinz. Buffett said 3gs cofounder is a good friend and he plans to see lemann next month. He also plans to attend lemanns 80th Birthday Party in august. The report has been out about tensions between them. Buffett also expressed support for the ceo of kraft heinz reports of the tensions may have been sparked by kraft heinz underperformance. That stock down by 50 buffett says right now the biggest problem facing kraft heinz is that heinz overpaid when merging with kraft back in july of 2015 he said he paid too much and it will take
Down yesterday. Israel says it will not allow supplies into the territory until all the hostages are taken by hamas are freed. The director of one of the hospitals there in gaza says that theres only enough fuel in their generators for the next 3 or 4 more days, including operating rooms and neonatal units that that if the generators stop, this hospital will become a mass grave because more than 120 wounded patients are on ventilators. A thousand patients are on dialysis and 50 premature babies are in incubators. Also we cant run intensive care and oxygen generation plants without electricity. Thus all of these people are facing certain death. Neighboring egypt is in talks with israel and the us to allow the delivery of food and fuel into gaza. But it has pushed back on proposals to allow a safe corridor for civilians to escape. Secretary of state Antony Blinken was in tel aviv today where he met with israelis who have seen their loved ones massacred or taken hostage by hamas militants