That recession. We are going to talk about it with my guest coming up right now. Im cheryl casone, everybody, in for liz claman today. Were going to start with a fox market alert. The bulls are actually making a bit of a comeback in this final hour of trading. As you can see, the dow up 25. We had been on the fence just a few moments ago. Maybe charles turned it around. Im going to do the cc effect right now here because you do have the the dow at one point down is 88 188 points at session lows. Trying to make this two wins in a row. We shall see if that works out. If the dow can can close up more than 17. 7 points, and its above that right now, it will be back in positive territory for the year. Were closely going to watch this average. Now to the s p 500. As you can see, it is slightly higher, a fraction here, 1. 2 1. 48. Wed been down 38 points on the lower in todays session for the s p, so thats a comeback. And heres the final comeback, the nasdaq. As you can see, up 4 points. At 1
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
The New York Stock Exchange and as i said, countdown to the closing bell is not going to take any breaks and that decision is made because we are watching a mighty tumble and struggle here. Folks, its a very fastmoving one. Dow and s p 500 are on track for their worst week since january of 2016. Tech and financials are pretty much the hardest hit fears of inflation and of course higher Interest Rates rearing their heads once again. Let me start with Interest Rates the rising 10 year treasury yield started the whole thing last friday when we lost 666 points on the dow and by the way were down 600 right now. Intraday, today, the 10 year treasury yield briefly revisited the four year high of 2. 88 that it had hit remember this early monday sort of overnight before many of you were awake. That sparked an 1100 point blood bath back on monday for the dow. To date we touched that level and were now off slightly at 2. 85 . Nasdac, look at this folks at the low of the session today the nasdac w
Of the last voice there, but it was an exchange between the two, senator Elizabeth Warren and tim sloan that was one of the more memorable moments. I think the reason that im the right person to run this company today, notwithstanding your criticism, is because i have been making change at this company for 30 years. Are you kidding you know, look, youve been there for 30 years and every one of my colleagues on both the republican side and the democratic side who have spoken so far have talked about a broken culture at wells fargo, have talked about the fact that the problem starts with leadership you made money personally off of it when you were asked about it, you did not tell the truth, and you tried to cover it up wells fargo is not going to change with you in charge. All right that was an exchange there between senator Elizabeth Warren, tim sloan the wells fargo ceo. We also have to have on cnbc today the companys largest shareholder, Warren Buffett. He said he still has faith in m
It sounds, though, that youre more interested than you were even a couple of weeks or months ago when you said im considering or i wish i could think about it but i really cant. No, i wouldnt say im more interested i just think the circumstances continue to change and as things evolve, it becomes more interesting as a citizen, i become concerned. Look, where im at in my life, if i have a chance to influence policy or if i have a chance to do something good for the country, i want to try to do it. That doesnt necessarily mean i have to run for president. Theres a lot of ways to have an impact and the more in tune i many a, the more connected, the more educated i am about a variety of topics, the easier it is for me to decide. And if you ran, you would run as a democrat . No, absolutely not. As an independent potentially and id say or as a republican . Republican before democrat, most likely independent because i think a lot i think theres an incremental value for setting up an independe