The big market mover is gold, and this is a classic flight to safety. Its getting closer to 1600 an ounce. Thats a sevenyear high. 1577, up 25 bucks as of now. Price of oil, 63 a barrel. Can you imagine where the price would be if the general had been killed a few years ago, before america became Energy Independent . Got it. Here are the late news developments. The iranians threaten retaliation. Hundreds of thousands marched through tehran for the generals funeral. The iranians say they will no longer comply with Nuclear Enrichment limits contained in the nuke deal from which mr. Trump was already withdrawn. No backing down from President Trump. Oh, no. After the iraqis demanded the withdrawal of american troops, the president threatened to send them a bill for the bases we had built for them and he threatened to respond to any iranian attack by going after cultural sites. This has been hard line trump. In washington, Speaker Pelosi will organize a vote this week to restrict the presid
Economic outlook remains favorable. Plain english, no recession on the horizon. Growth continues. Top banker jamie dimon joined the optimist club. Growth will continue, he says, and he expects a phase one trade deal with china. This week, we reported on jpmorgans call for market rally next year and Goldman Sachs call for a Strong Economy next year. 2020 looking good. Todays Market Action is somewhat clouded by the uncertainty of whether or not theres going to be what the results will be of that white house trade meeting. The dow will be down 30, 40 points. Small loss for the s p. Small loss for the nasdaq at this point. Now, the president s looking good. Reports this morning that some House Democrats will not vote to impeach. That means a split Democrat Party and a hyper partisan impeachment process. Not supposed to be like that. Oh, and the brits are voting. Looks like the socialists will lose. Varney company is about to begin. Stuart all right. We are beginning with the trade meeting
Is pouring into tenyear treasuries as a safe haven. Trouble, trouble everywhere but treasuries offer a degree of security not found elsewhere, and well pay you interest. You dont get that in europe or japan. Heres another opinion. Surely the Federal Reserve will now lower Interest Rates very soon and very sharply. Ive got another reason for the selloff and its hong kong. Its calm right now but is this the calm before the storm . There are signals that beijing has had enough. Things are coming to a head. Number one, Chinese State media now calls the demonstrators radicals and appears to be whipping up mainland support for a forceful end to the protests. Intervention, they say, is inevitable if the situation worsens. Two, there is video of chinese troops massing at the border. Three, the demonstrators are being told not to move to a different part of the airport. Just a few dozen remain. Four, the chinese accuse Speaker Pelosi and Senate Leader mcconnell of inciting chaos. President trum
States over the next 25 years will outcompete china. Democrats are burning daylight at this point. The best evidence i have of joe biden is not actually running. At this point, the number of Campaign Staff that he has on biden for 2024 7. Thats not a serious campaign. Yes, taylor swift is bigger than the beatles, will be bigger than the beatles and lets face t the beatles were overrated. Stuart what a great song. The beatles. Revolution. Lauren its better than taylor swift . Stuart oh, i would never make such a comment. Do you think im crazy . I think taylor swift will be bigger than the beatles. I have to get on the right side of the audience. In 50 or 60 years, will we be singing or watching taylor swifts songs . Not a shot. Stuart if you want the audience to like you, you said the wrong thing. Lets move on. It is 11 00 eastern time, monday, august 14th. On the markets, nice turn around thank you very much. It was all red an houring a and now ale green. Not much but its green especia
It is precisely 10 00 eastern time. Modest gains at best, gains up 50, nasdaq up 9. Not much Price Movement following a sharp letter price index report. People are waiting for the Consumer Price index that comes out tomorrow. The yield on the 10 year treasury around 4. 5 . 446. That yield is down. Price of oil 78 a barrel. 78. 83. Bitcoin struggling around 62,000, 616. Now this. The president delivers a big speech on the economy. Time for some honesty. This economy is not working for most people and the president should admit it. The problem is inflation which is two key groups particularly hard, low income people and young people. Inflation is eating up any wage gains. The less you make the more you suffer, low income people are suffering, the president should get on a stand stop blaming corporate greed or shrink inflation. That is misleading spin. If he were honesty would admit some of the inflation is the result of the vast spending put in place when he took office. Is inflation is