Flights today. Goldman sachs lowering its growth forecast and reports that wework could file as soon as this week. Were going to start today with the markets. Jim, not a repeat of last week, but were going to it is going to be busy, cpi, retail sales and more. Retail sales is on front burner it is hard to believe that given that unemployment rates are so low. People keep waiting for the inflation story in retail. I dealt with a number of retailers, and almost every retailer says, listen, very small margin hit to the september 1 tariffs. But as soon as you hear small, you say, big, big, big really good piece about dollar tree, not a lot of exposure to china and does well when the economy weakens. I want to watch that to see if we dont get the situation where we start trading down in terms of tocks macys, 7. 7 yield thats the paradigm of what people are avoiding. I think the macro does trickle down to the micro. Im concerned. Im really concerned about this hong kong situation too. You me
You know i love it when you lauren welcome to fbn a. M. Good morning. Im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren. Lauren cheryl casone. Lauren dow futures are down 23 points, s p down 3, nasdaq down 15. Of course, after a monster rally yesterday. Cheryl after a brief fall yesterday after the fed minute, taking a look at the 10 year right now, actually at 1. 58 , were Holding Steady when it comes to the 10 year treasury today. Lauren oil prices are higher. The quote right now is 55. 97 a barrel, a gain of half of 1 . We saw that drawdown in stocks yesterday. Cheryl breaking overnight, chinese officials telling washington we need to meet halfway or face retaliation. The nikkei, the shanghai closing higher but the hang seng and the kospi actually losing fractionally. Lauren and stocks in europe are tradeing to the downside. Take a look at at the ftse in great britain, down half of 1 . Angela merkel says a solution for the irish border is possible in 30 days. Cheryl
Lower on concerns about the health of the u. S. Economy and a number of new bearish notes from new wall street firms hurts the sentiment further. Lets check in on the biggest losers in the dow, which as morgan just said, is down sharply, near session lows, which were 462 points. Its currently down 410 points, as you can see, pfizer down 4 Goldman Sachs down 2. 7 cat down healthily 2. 56. The 30year just hit a yeartodate low of 2. 117 t the. Joining us for the full hour, victoria fernandez at cross mark global investment. Thanks for joining us. My pleasure when you see yields slip like they have done, like they did last week, does it make you want to press the sell button for broader u. S. Equities . We dont want to sell we have that longer term outlook. We think theres a lot of volatility going on and thats going to continue to play out. We are looking at these treasury buys, not just from Short Coverings but outright buying as well but i think you stay invested at this point there we
Currency with benign neglect in order to function as the reserve currency properly. And this is something we really have to take seriously in this particular environment trump can say whatever he wants politically. Mnuchin can say whatever he wants politically, but getting into intervention has always been a failed tool its never worked. And the concept that the Federal Reserve would cause it not to work by sterilizing is probably incorrect. Its not going to work in and of itself because nobody is big enough in that market to really drive the size of that market enough to have a noticeable impact excellent steve, glad to get your thoughts on that. Well go back to jon fortt and the gang thank you, steve pleasure. Good monday morning welcome to squawk alley. Im jon fortt with Morgan Brennan and david faber live from post 9 live at the New York Stock Exchange carl has the morning off and we have to begin with this selloff stocks are falling across the globe, as china devalues its currency
U. S. Road map begins with stocks poised to rally at the open, boosted by rising global trade optimism, those earnings we mentioned from coke and utx, ceo of coke will join us today. Fiscal crisis averted the white house and congress striking a budget and debt ceiling deal. And lobbying for huawei restrictions release the ceos of qualcomm, google and intel and other tech giants make their case directly to the president. Futures are higher this morning on the heels of a number of better than expected earnings. Three dow components also cross beginning with coke. Shares higher after the Company Beats the street, raises organic revenue guidance and utx beats on the top and bottom lines. Mixed bag for travelers. Earnings fell short but ref new be beat coke seeing organic revenue five versus the prior four. Doing such a great job. Doing it with coke zero sugar which happens for quite good tasting. Doing it with water. Hes doing it with those small formats. Whimsical. Hes doing it with bette