Tech stocks underperforming today, pulling back more of mondays gains or giving up mondays gains, i should say, still on pace for a positive week 59 minutes left of the session, exactly down. 5 , sarah. Weve got a big lineup coming your way National Economic Council Director larry kudlow will join us to talk about the stimulus negotiations and any Economic Impact there. John shrewsberry of wells fargo will be with us and well talk to David Malpass and the race to fund Vaccine Development around the world. First off, though, lets get straight to the big stories were watching mike santoli is watching the market pullback. Rick santelli has the bond report but lets start with mike santoli. Big tech and momentum growth that have been running pretty hotly. This modest payback mode for the prior few weeks. Lows for today were right exactly where the s p closed on friday essentially made this roundtrip a couple of times, trying to bounce off of them yes, if you look at energy, look at pure val
Of a uk election still looms, despite the governments double defeat in the house of commons 48 hours ago he was leading the chants of stop the coup, let the people vote. Now hes saying, stop the election, stop the people from voting two year treasury yields hit the lowest level since 2017, while Goldman Sachs ceo tells cnbc exclusively a recession could be on the horizon. Bond market is reflecting a sentiment there is anxiety about the prospect of a recession, in the u. S. Less evident in the data, perhaps more evident in a variety of different markets like germany here in europe. But it is possible well, markets are trading a lot more buoyantly overnight, especially on the news that the two sides, china and u. S. , are reportedly going to have a meeting in october thats given a relief rally to asia markets and u. S. Futures as well as were heading into this european session you see there is quite a lot of green on the board already for the stocks 600 after the better session yesterday
Heated tone from the u. S. And china. Financials, semis and industrials are all lower and full Team Coverage coming up dom chu is tracking it phil lebeau with details of on headache for boeing. Market down 333. The low of the session 425 down. The dow higher this session down 205 and red throughout the session as you can see sharp selling. Lets bring in Rebecca Patterson with us for the full first hour of the show. Good afternoon whats the spark again for the selling . Last week a nice end to what was obviously a negative month of august. I think what it boils down to is its not about the cost of capital. It is not about the level of Interest Rates, the stimulus it is the confidence to spend so we can make Interest Rates as low as you want but if you dont have companies and households to borrow and take that money and buy something with it, whats the point . Thats the conundrum we saw it in the trade rhetoric today. It is eroding confidence thats driving us right now. Can the fed or Ce
Rate cuts to come. In london, President Trump does a three day visit to the u. K. As his trade policies feed to growth anxiety. Silicon valley is targeted over antitrust. We will bring you exclusive interviews from Influential Investment figures on the current challenges and opportunities. 10 years into an upcycle. So at some point, the music is going to stop. I dont think we will see a Major Chinese company go public in the u. S. For the foreseeable future. We are playing with a lot of little a risk which is often ethical to trade through. Juliette we sit down with the pboc governor ahead of his meeting with secretary of the treasury steven mnuchin. Yi gang our policy for further hikes in tariffs or the escalation of trade wars, our policy toolkit is ready. Juliette and an exclusive interview with dallas fed president Robert Kaplan, and why he says it is too early to make a judgment on a rate cut. Mr. Kaplan should we be adding stimulus to the economy . That is a question we are askin
We will bring you exclusive interviews from Influential Investment figures on the current challenges and opportunities. Leon we are 10 years into an up cycle. So at some point, the music is going to stop. Bill i dont think we will see a Major Chinese company go public in the u. S. For the foreseeable future. Stephen we are playing with a lot of Political Risk which is often ethical to trade through. Juliette we sit down with the pboc governor ahead of his meeting with secretary of the treasury steven mnuchin. Yi gang our policy for further hikes in tariffs or the escalation of trade wars, our policy toolkit is ready. Juliette and an exclusive interview with dallas fed president Robert Kaplan, and why he says it is too early to make a judgment on a rate cut. Mr. Kaplan should we be adding stimulus to the economy . That is a question we are asking. I am openminded about it. I think the risk to the downside in the last five or six weeks has increased. Juliette it is all straight ahead on