Good thursday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt at post nine of the new york stock exchange. Morgan brennan with us from hq were going to continue to bring you nonstop market coverage from separate locations for a while as we reduce travel for employees as a precaution due to the spread of the virus. For the markets volatile this morning where we will start. Major averages deep in the red, had a circuit breaker. The president did institute the 30day travel ban for europe excluding the uk in an effort to curb the spread of the virus ali and brian both here on set thank you for coming in. Good to see you. Brian, what do we say . We know youve liked opportunities in this market do you still think theyre here . Its an honor to be here today on days like this, and when youre a strategist and portfolio manager, because we do both, we are defaulting to terms of i call it the three ps of investment management, perspective, poise and process okay the perspecti
Sector of the year and the decade the Investment Committee is ready to go, Halftime Report starts right now welcome, good to have you with us on this friday our Investment Committee today, joe, jack, steve and liz, director of Market Strategy and margaret reed, senior Portfolio Manager with union bank. Lets begin with the jobs blowout, the reaction in the stock market perhaps the belief is that we can have the yearend rally after all. This says to me phase one. You just need the economy to keep humming. If we can have it, we are having it. And i think like the biggest lesson of 2019 is the industrial data is just so misleading and so unimportant for people to obsess over. But a lot of the Economic Data points that we traditionally Pay Attention to, they come from the 1950s, the 60s, the 70s. The economy has changed and its become more globalized and consumer centric i cannot stress enough how important it is to look at price versus listen to economic opinions if you listen to opinions
[laughter] maria big show this morning on deck this morning, ohio congressman and member of the house intel and ways and Means Committee member brad is here on yesterdays hearing, darrell issa joining us on new run fur the house, Intel Committee devin nunes on the whistleblower come print and Philadelphia Federal Reserve complaint patrick harper, on Economic Data, backdrop on the economy, we will talk about rates as well, dont miss a moment of it. Top story this hour, whistleblower hearing, Joseph Mcguire sealed question from lawmakers yesterday, intel chief showing some support for whistleblower also had warning for democrats Going Forward, watch. Theres an allegation of a coverup, im sure an investigation and before this committee might disprove that right now all we have is allegation from secondhand from a whistleblower. Maria now weve got the media, New York Times say they know who it is but the republicans want to know who is the whistleblower, maybe hes from the cia, whats your
Shots. May be a catalyst to move the markets. It is thursday, october 10 Worldwide Exchange begins right now. Welcome from wherever in the world you may be watching. Here is how your money in the markets are setting up their day. Theyve paired earlier losses ahead of where they open down 28 points right now that doesnt really tell the story. Just a few hours ago, not the case a match of new headlines that changes dramatically. Look at this, headlines for the cost, big drop it looked like we were on our way. Then we started to get more clarity. So basically the novel all summer in a day we saw futures fall and come back in the course of three hours last night. Thats why youve got to watch cnbc or use the app all day long we are down around 28 points right now. 10year at 1. 58 there you go the headlines, they didnt impact asia that much. The nikkei inching two days up, one day down lagging in a lot of the markets. Starting to show another sign of life saw shares in hong kong rise not a h
Now. We are at session highs however modest they may be the dow wiping out early losses after white house economic advisers wraps up expectations dont look now, the russell 2000 has entered a death cross well have more on what that is, what it means later, kelly, this hour sounds scary. Lets get more on todays big intraday turn around from bob who is watching the action at the New York Stock Exchange. China trade talk moving the market you heard about mr. Kudlow speaking early one of the comments he made, delisting chinese economy not on the table. A bit lart on, this moved the market more importantly here chinese is ready to do a deal on the parts of the negotiations both sides agree upon. This is part of that 80 deal that we have been talking about for many months. Not only did u. S. Stocks move, chinese stocks move to predictably u. S. Cyclical groups moved into positive territory. Serks mis were negative, materials, industrials, banks. Yields moved up. This 80 deal we keep talk abo