Overnight, though they lost some ground this morning. A lot to watch, china pmi backing expansion, the fed launches a new dollar repo operation. Jim, sounds like youre focused on testing, having talked to abbott last night. Right i think that myles white and now the new ceo recognize this, as they did during the aids epidemic, when you find out who has it, everything changes in this country, we can find out who has it, and doing a serilogical test, finding out from blood of people who have had it maybe a lot more people have had it than we knew. Maybe we can find who has got it, they can be quarantined. Already the carpers people are saying its only going to be med techs and hospitals. Myles and robert told me absolutely, this will devolve into a pregnancy test at home. How quickly, i dont know. Abbott labs is one of them dr. Gottlieb is going you know what ive seen science this is working in forgave earl avor ofd guys megs work with alex gorsky made me feel maybe next year we can go t
Social network well tell you why it matters on tuesday, october 8 as Worldwide Exchange begins right now it is raining outside. The team is the song is called a fool in the rain. Good morning, good afternoon, good evening from wherever you are watching talk about one specific trade war casualty check out ambarella. Theyve got a lot of exposure to china. Now just 10 one company specifically that was black listed overnight as soon as people connected the dots between the black his of hick vision. This is an exact and specific example of how American Companies can get hit like that. Well get more on this and other stories. Trade likely to dominate trading again. Twists and turns keep coming futures right now, they are actually lower after a drop in the dow yesterday. Even with these drops we still remain within 2 of the alltime high it has been a daytoday story bonds, theyve been a big story. Yields, theyve been backing up at 1. 55 on the upside, looking at Mortgage Rates as yields come d
Low. Our roadmap begins with red october. Stocks off to the worst since the crisis futures have a new open. After the worst manufacturing in a decade, sources work on that this morning. Shares of pep ki so fueled by sales growth and a nice earnings beat ceo will join us first on cnpc in a few minutes market versus a rough time in an economic slow down a second selloff resulted in the dow falling more than 800 points s p lost its gains from queue and q3 combined. Investors will be paying close attention to Services Data in less than an hour from now jim, they say of the two times that ism manufacturers contracted, we havent had a recession because Services Held in last night i had marty mucci on from paychecks. My old colleague larry kudlow chief economic adviser to the president says thats where it comes from its not like gm creates jobs. He says this was the best time theyve had and september was a strong month in the country and was constrained by not being able to find more employee
Index, measures the strength of manufacturing slips to the lowest level since 2009, everybodys going to freak out theyre worried about a recession. Which is why the dow lost 304 points, s p 5001. 23 and the nasdaq dropped 1. 13 that was last week now this market was due for this beatdown but i also told you that i dont believe were headed into recession. Im standing by that position. But the recession thesis became more compelling today and you need to get your head around it if you want to understand this market so let me lay it all out for you. One place. The single biggest problem behind the recession thesis is the president s trade policy but maybe not the way you think. Trumps towers and chinese exports have done realdamage t the chinese economy. Second largest in the world. As china falters, it is taking the rest of the trading partners with it, especially europe, throwing worries about brexit along with a lack of fiscal stimulus from germany and you have a worldwide slowdown goi
Enough fear. Theres not enough capitulation. Thats the story. We had another day where we saw we nasdaq plummeting 1. 87 . Yeah. What you may not realize is the market is the same going on in stocks which is unfortunate. The bottom market is more important. It is leading us by the nose. Enlist your professional investor maybe dont realize it. We have to get an understanding about the tyranny and how they are the overlords of stocks whether we like it or not. When the bottom market sneezes stocks get pneumonia. Man is it sneezing. They are selling everything in the bottom market to get out before at this point maybe just their shadows. We dont know anymore. There are four kinds of very motivated sellers. Theres the Treasury Department that needs to finance our government. The Federal Reserve is 5. 3 trillion in treasuries. Another 2. 6 and agency. Crazy. It sells as a way to shrink the money supply. There are the regular owners of bonds some of whom are gigantic amounts of money to on t