The regime changes that are out there in our medicine, the pandemic, as with about the american economy. James bullard of st. Louis will join us here in a moment. What we would really like to do is talk about the regime changes that we see right now in the market. To me, it is a very correlated list up off of the navarro uproar of 14 hours ago. Jonathan what a move overnight, whipsawed by Peter Navarro, who set the u. S. China trade agreement is over. The president of the United States, his boss, coming out and correcting him. The confusion on that issue is massive over the last couple of weeks. I think john boltons book over the last week or so has made things a little more interesting as well. It. No question about i know lisa is almost 2 3 of the way through the book. One question which you are an expert on commode is the great distinction between larry kudlow and Peter Navarro . Jonathan Lawrence Kudlow seems to have the president s thoughts very much in mind. He is speaking for th
Lets go to kailey leinz. What ist to talk about leading todays session. It is big tech names like apple. Of course, they are heavy, seen insulated from any kind of virus resurgence. What is second to tech come underneath the surface of the s p, is utilities. Usually we see utilities getting a boost from lower yields that are kind of high dividend stocks. More the story is that it is summertime and things are starting to get hot. We are expecting temperatures over 100 and some parts of the american west. That is good for electricity companies, the likes of dominion higher between 2 and 5 . Stayathome Companies Like wayfair, a big beneficiary over the course of the pandemic. Other big beneficiaries have been range resources and of course oil companies. Wey are up around 200 as have seen oil recover from the negative pricings we saw a few months ago. Moderna as well. Really big news we have seen. We have also seen dramatic moves in the bond market. We have the fed coming in with unprecede
Isnt perfect a lot of things i wished for, lawmakers didnt bother to close all the fat cat loopholes, you know what . Im not surprised. Because these private equity guys are donates big bucks to lawmakers so washington wont go after them. Look how much money is at stake and how much both sides are getting from the fat cat donors effectively buying themselves a tax cut. That said there are a lot of good things. You know that Corporate Taxes lower. Means good things for the markets. New developments on a story weve been following closely on the intelligence report. Highly questionable uranium one deal. Attorney general Jeff Sessions is reviving a fbi investigation into Hillary Clintons ties to this deal and we have got the intel. First to connell mcshane, standing outside of a wells fargo bank, one Company Giving back to its employees because of tax reform. Connell, i love it reporter interesting, trish, because the corporate rate coming down from 35 to 21 that is really centerpiece, you
Have you spend any time with us and talk about stocks. Thanks for having me. And the markets and Everything Else in between steve weis and josh brown. Youll see them throughout the hour as well a great collection of investors on the stage stage behind us giving their views on the market which are at record highs as were sitting here having this conversation give us your view on where you see the markets and where they are now. If its justified or not in your mind. Well, define justified. Well, why to you think were here i think were here because basically the Central Banks have todaysy theres the general view that whats worked will continue to work Monetary Policy will stay easy, and and well live with the valuations, so i think that kind of sums up the way i think most investors think. Yeah, youre not saying, and maybe its purposefully, that theres any sort of credit due to the president or his expected agenda is that purposeful that you dont think that hes responsible at all for wher
Somewhat grim reflections on the state of policymaking in washington, d. C. Showed up in these minutes. Some Committee Members see the likelihood of new stimulative fiscal policy dropping. This also appeared in the minutes. Participants noted that uncertainty about the course of the course of a federal government policy including in the areas of fiscal policy trade and health care was tending to way down from spending and. Iring plans in terms of what fed officials are hearing from businesses in their districts the dysfunction in washington may be beginning to hold back the u. S. Economy. A quick point on Financial Stability and asset valuations. The concerns raised in committee again about real estate valuations. When it comes to the stock market no real red flags. Some Committee Members said that valuations reflected favorable economic factors and there were no new signs of additional leverage being implemented in the stock market. No red flags over start valuations. Back to the deba