Increase sanctions on iran road map begins with watching the fed. Investors expect the second rate cut in a decade. Stocks mostly lower ahead of the open. Fedex is falling this morning. Shares down in the premarket over trade worries policy uncertainty, of course, as well continuing to weigh on the delivery giant and right idea, wrong approach, House Speaker nancy pelosi sitting down with jim youll hear what she had to say about the president s china trade strategy as we said, a few moments ago, the president tweets, ive just instructed the secretary of the treasury to substantially increase sanctions on the country of iran. So nice that our country is now Energy Independent the u. S. Is in better shape than ever before, Strongest Military by far, biggest economy, no longer even close, number one in energy, maga equals kag. The story is going to be about the attacks and what else the saudis can tell us about it as aramco had that statement out yesterday. Right i think we have to were f
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
S p is now down 2. 25 the nasdaq is off by 40 points that happened after news that we heard from beijing that well tell you about in a moment Interest Rates are a huge part of the market story. Yesterday we saw the inversion of the twoyear and the tenyear yield. So shortterm bonds are paying more than longterm bonds. Historically this is considered a recession warning sign check this out the 30year bond this morning is now yielding below 2 . This is the first time in history weve seen the 30year below 2 1. 99 . Tenyear is yielding 1. 557 . The twoyear is yielding 1. 54 lets look at what happened in markets overnight in asia. Things got a slower start there. The nikkei was down out of the gate it ended down by 1. 2 . In china, stocks are stronger. Shanghai is up by a quarter percent. The hang seng up by three quarters of a percent. In europe, there is active trading taking place, you are seeing some red arrows across the board. The biggest decliner of the three major averages would be t
Moment right now the dow is down by 33 points take a look at what happened to equity markets overnight in asia youll see that the nikkei was flat the hang seng was down by. 8 and the shanghai composite up by. 1 in europe theres active trading taking place in the markets. Youll see its a little bit of a mixed picture. Three major averages are weaker with the ftse down by. 5 . Italy and spain are seeing stocks higher and then finally check out the treasury market here in the United States. This has been the thing we started watching so closely yesterday. You did see an inversion of the yield curve with the ten year yield challenging the 2 year yield. Right nowits slightly above the 2year as it should be at least. That inverted slightly yesterday late in the session. Right now 10year is yielding 1. 581 the two year is yielding 1. 561 . Were getting close on that again. That and maybe this as well investors suffering a bit of whiplash this morning as President Trump changed his messaging o
Wake of his tweet about the china tariffs. The president said he wasnt worried about it he, in fact, expected it he said it is because people dont fully understand what his tariff strategy is in fact, the president here blaming the market for not understanding exactly what his approach is to tariffs and to china. He was also asked by me exactly why he picked 10 as opposed to 25 or 5 on the tafrs he tariffs here is what he had to say. I did more than anybody thought with the first 250 billion and the 10 is for a shortterm period, and then i can always do much more or i can do less, depending on what happens with respect to a deal but im very happy the way it is right now. So the president there saying that he could go up to above 25 if he felt that was necessary, but he said he doesnt see that as being necessary at this point. So that puts a lot of tension now on those negotiations between the u. S. Side and the chinese side here in washington in Early September the president was also a