Worst streak since december. Nvidia out with earnings next week. Farfetched is farfetched. Shares plummet after cutting the outlook. China wobbles and i told you i stopped spending. Im alix steel with my cohost guy johnson. Lets overlay one more thing and that is options expiration. You have a bunch of options expiring which will lead to volatility, may be covering from the dealers, and that could exacerbate the moves into the close. Guy absolutely. What a week it has been an next week is jackson hole. Nvidia is coming out next week. We look back and see what has happened. This incredible move in the bond market. European equities have been battered this week. There has been significant pressure but the question is how big is this adjustment going to be . If we are in a 5 world, how long is it going to take to adjust . We have had many years of zero Interest Rates and qe. Alix the fact we are just talking about 5 means we should eventually talk about 6 . Guy maybe. Alix youve got to lo
Band. Ive heard them before. Just got paid. An interesting song title, id say. Lauren we got paid yesterday. Stuart yeah, we did. [laughter] lets report that, a shall we in good morning, everyone. Its 10 00 eastern, and wed better get to the money. Not as bad as it was, the dow is down 70, nasdaq down 113. Little bit of a comeback this morning, not much. The 10year treasury yield, we have it well above no, right at, actually, 4. 24 on the 10year. The price of oil, 81 a barrel, 80 right now. Bitcoin, theres the story. Its at 26,200. This time yesterday it was 29,300, so youve had a big drop overnight which we will explain later. Thats the markets, now this. I dont think joe biden is electable. Okay, that is a bold statement. I dont care what the polls say. If its a bidenharris ticket next year, that they will lose. I dont think it will get that far. Almost on a daily basis, democrats hama maneuver to get him out before the end e of the year. Ive never seen anything like this. Podcast Ki
Money,. And with retail earning season about to kick off, we start off with potential to believe the death of the consumer has been greatly exaggerated. Bank of america upgrading the discretionary sector an overweight from an underweight, laying out a host of reasons growing hopes for a soft landing, no recession means more consumption, they say. Plus, consumers biggest debt burden, their mortgage, are in fixed low rates. So, not subject to moves and bond yields. Analysts highlighting rising real wages and earnings beats in the discretionary sector should this signal we are in for strong reports next week guy, maybe were just too worried about the consumer, everything is just fine in consumerland. I wake up for it, mel i know. I understand why theres reason for optimism without question u. S. Consumer will always spend if nothing bad is going on and i always view it through the lens of the stock market when theres an event in the stock market to the downside, thats when Consumer Behavi
Is a big reason why, bouncing back, 6 today, more than 6 as this rally picks up. Its about 15 to drop off in the last month or so. We will have more on that in a moment. Started the big deal if u. S. Steel sewing 30 , even though it rejected the takeover offer from cleveland cliff. Its unusual to see that kind of move. Whether this deal or a different one could be on the horizon for the original x, tyler. Stocks have been falling across asia. This is about real estate in china. Lets bring our friend dennis. He works with u. S. Companies doing business in china and has been warning about the troubled state of chinas economy, and this does nothing to improve that, does it, dennis . In part because real estate is such a huge percentage of the chinese economy. Tyler, 25 to 30 of chinas economy is real estate, so when you think about it, you take 25 to 30 of our economy, it went down, and how much that would be . You spoke about last week chinas really poor Economic Performance in q2. Ever
Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d