Performance in the s p 500 right now. Saying ite and fitch weighed heavily on their quarter, down 13 . A little selling in the treasury market today. We will be talking about all that in just a moment. In europe, one of the bigger stories today, italy. Prime minister conte has accepted the mandate from the president to come up with a government, sending the ftse mib up to the best performance in europe. It is up in europe as well, potentially on china comments. The italy 10 year yield currently firmly below 1 right now,. 96 . The except to the exception nokia is the vonovia. Coming up, it is the end of the gso era in credit. We will speak with Bennett Goodman about his departure from blackstone. China indicating it will not immediately retaliate against the latest round of u. S. Tariffs announced by President Trump last week. Beijing instead, beijing is emphasizing ways to deescalate the trade war. For more, we are joined by john ryding, rdq economist and founder. John, looks like ther
The rest of us in the mid60s at 7 00. You can see 90s already at noon adhrt afternoon. Sue . We take you back to Mountain View with this traffic alert. 85 is shut down. Its expected it will be 3 00 before its reopened. There was a carr fire and a car on its side and unfortunately the coroner is on scene. So sig alert here. Avoid north 85 and Mountain View. Theyre diverting traffic off evelyn. Your vote, your voice. Ideological differences, they were on full display during the democratic debate. The top candidates took to the stage at the same time for the first time. Serena is live. Good morning. Each is pitching why they should be the democratic nominee. The only thing they could agree on as a party is they want donald trump out of the white house. Ten candidates and one goal. And as president. And as president of the United States. And as president of the United States reporter and while the party wanted to keep focus on the man currently dominating the title, the debate quickly show
Intraday s p 500, going into the trading session we were higher. Investors excited for the fed commentary. Around the time of 8 00 when china came out with its tariffs headlines, talking about it would place additional tariffs on 75 billion dollars worth of u. S. Goods including cars, soybeans, and oil, we see lower. Then jay powells preprepared remarks did come out, being perceived as dovish. We see the s p 500 verse higher and then President Trumps tariff tweets came out talking about he will respond this afternoon, a big leg lower. At session lows. Now we have all three major averages on pace to have a weekly decline for a second week in a rope. Is showing sector wise. If we go to the bloomberg and look at the imap, all 11 sectors are lower in a big way. The majority down 2 or more. Energy,ottom, tech, consumer discretion industrials. On top, doing better, the defensive sectors, high dividend yielding sectors that look more attractive when yields are lower. As for some of the other
Fed officials at jackson hole grappling with how the trade war is impacting the u. S. Economy. Trade uncertainty is sort of a fact of life now. Trade policy uncertainty has been weighing on the outlook. Already someen business spending the weekend because of that terror situation. What is holding it back is trade policy uncertainty. The center of gravity is u. S. Economic policy, not Monetary Policy but trade uncertainty. Trade uncertainty will be with us. What i some businesses do is become more cautious. This trade war is triggering other actions around the world, other countries thinking about reevaluating their own trade relationships. This could easily get out of control and easily feedback to the u. S. Lisa there should be a little ding every time they say uncertainty. Matt toms,now is luke hickmore, and here in new york, jim keegan. I want to start with you, jim. One thing im struck by, yes, we are seeing a rate cut being priced into markets but it is not giving a boost to risk
Significantly. That brings back the question of, how do you unwind that trade . Makeine he really did clear that they are trying to work with the fed when it comes to trade. Lets get a deeper dive into the action. Ill start with you, abigail. What are you watching . This may come as a surprise. One area that has outperformed is ems. The emerging market index, outperforming in a huge way the s p 500. The same thing for the russell 2000. It seems shocking that they are not selling off more. But the answer may lie in this chart, because e. M. Has been underperforming for some time. Index, the e. M. Equity the s p 500. The s p 500 stuck in the middle. E. M. For quite some time had been nicely higher on the year. There were liquidity issues with china. The s p 500 as well. E. M. Has been right around even for some time. Ahead for thelook broader equity markets, renita. Gold, whichlook at is extending earlier games, as investors worry about trade and the fed, they piled into the safe haven a