Universal suffrage. They said carrie lams retreat was too little too late. Shery we have coverage throughout daybreak of these developing political stories. Sebastian is following the brexit saga in london and what is next for Boris Johnsons plan to leave the u. K. Out of the eu following defeat in parliament. First, lets get you started with a quick check of how markets closed the wednesday session in the u. S. It was all about geopolitics. Less risk in hong kong and the u. K. Nasdaq bothand gaining. Tech shares rebounded leading gains. They were the biggest losers in yesterdays session. Energy sectorhe being a big gainer as crude prices rallied above 56 a barrel. Fed speak asof well today. The fed president of new york down in minneapolis as well as many others talking about the fed action in september. A little bit of divergent views. We will try to explain what all of that means for the markets later on in the show. For now, you have futures not doing much. Lets see how we are sett
Fears about trade, growth and rates. New phones, new watches and a big bet in tv. Your next trade on apple and the stocks in its universe shares of costco soaring 45 this year. But is a pullback coming its our call of the day Halftime Report starts right now. Good to have you with us on this wednesday, 9 11, as we remember and always will your Investment Committee today, joe, steven, jon and pete na, welcome, everybody stocks are higher this hour. The dow trying for its sixth straight day of gains. Not bad. But we begin with the big trade happening now in the overall market momentum apparently is out and socalled value apparently is back jpmorgans quantity grew who called the rotation about two months ago says the flight from momentum has only begun. Id like to start the show, guys, the hour with a stat i pulled out of fax this morning i think kind of will highlight better how big this shift has been 58 of the top 62 stocks in the s p 500 this week, theyve gained an average of 9 . Been
Is there more pain to come or a real bottom anywhere in sight . Trade tensions still in focus as the Chinese Central Bank does something it has not done in more than ten years. Well tell you what that is on this thursday, augustth as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Im Brian Sullivan you are watching Worldwide Exchange. Thanks for joining us. These crazy, volatile markets have shown no signs of slowing down yesterday at this hour we were calm then stocks began to sink when trading began. The dow continued to fall, at one point off 550 points but then the buyers, they came in in the afternoon. The dow ended the day dow 22 points, posting one of its greatest point turnarounds of all time what will happen today lets look here is how your money and investments look futures are mildly higher. Dow futures up 21 points but this time yesterday futures were basically flat. All of a sudden
Joining us for the entire hour is tobias levkovich. Welcome. Thank you is this just a bounce from oversold conditions or would you buy into the rally i think that it is more of a bounce off oversold conditions look, things like energy, financials, have come back we were so hammered in the last couple weeks the issue that you need to resolve is earnings. That will be the more problematic phenomenon and so do you feel good about what earnings could be i think that earnings are still too high for the balance of the year and beginning of next year. I think consensus numbers for next year for example are about 10 , probably should be more like 5, maybe 6. So that is the issue so doesnt feel so good the white house pushing the message that recession fears are overblown. President trump tweeting today, our economy is very strong decembspite the lack of vision the fed but democrats are trying to will the economy be bad for purposes of the 2020 election. Very slchish before our dollar is so str
Administration and disney revealing the true villain of its marble universe as earnings disappoint and the stock sags on this wednesday, august 7th. Worldwide exchange begins right now. Afternoon, good evening and welcome from wherever in the world you may be watching. Im Brian Sullivan thanks for joining us on Worldwide Exchange. It is only wednesday, but it already feels like a full week, doesnt it down big on monday half of it gained back basically yesterday. Heres how things look now futures are not giving you help. Look at that, dow futures are up a scant 7 points one of the quietest mornings weve had in a few days. In bonds, the tenyear yield continues to be on the move. Bond yields keep coming down look at that yield 1. 68 . Below 1. 7. That seems very low for us, but consider that nearly 15 trillion worth of Government Debt around the world, countries like japan, germany, france, denmark, they have negative Interest Rates maybe the global race rate to the bottom, three Central