Discover. The i. Subscribe to the documentary to. The folks. Violence. The World Economic forum on africa. Hope young people taking the initiative. And. Robie we can make. People get moving using try. And lets face it. Consume not. Just your smile your face. This is business africa. Violence on wednesday overshadow the opening of the World Economic forum on africa the famous meeting. Of industry and doubles the south african hosts of course. Been protests in several cities including. People see few prospects in there. Also been directed against people from other countries a reporter. Trade in the port of cape town continues as usual for a couple of minutes. You can enjoy the rest the young entrepreneur arrived from johannesburg the night before the unrest in her hometown show. Its total tragedy its very sad especially. The looting and the killing and the chaos its not good for. Us thats going to scare away investors south africa is a land of extremes much of the black majority populati
Are being led by an outrageously bullish combination of stocks, that should not be going higher at the same time. Nobody wants to say it, but i dont know if i can recall a moment where we had such disparate stocks climbing together to new highs. You asked me a few weeks ago, i would have told you this combination today is not conceivable. That is what has happened. Dow getting another 350 points today, s p, record close. Nasdaq, you guessed it, record close. This actually defies the whole nature of the conventional wisdom of what can happen when we are at this part in the cycle. For the old days, crashing in 2008. We would be celebrating daily today, so now in a certain respect, they just try to ignore what is happening, so they can o back, go back to talking about how the consumer is tapped out, or something we learned about from some incredibly weak retail Sales Numbers just this morning, or how inflation is still raging, and it is frightening the budget deficit, a Consumer Price ind
Revenue. More labor strikes to come. Thousands of hospitality workers in vegas planning to picket this week after another round of failed negotiations with the casinos. Lets begin with the markets trying to build on yesterdays rally, jim. Were you surprised at all by what stocks and oil did . Yes. Actually i started my show last night by saying a little counterintuitive you could have both at the same time. If you take a look at the same time, obviously, vice chair jefferson speaks and boom, 1 30. They couldnt take the oil stocks down because of whats going on in the middle east. They didnt have the bonds because of columbus day. It was a threepronged oddity that the s p could roar and we didnt have the bonds to key off of and set up a picture that i think was counterintuitive to most people. You had logan and then jefferson talking about higherterm premiums and being mindful, they said, of the impact of higher rates. Yeah. I also think you had the note from edgar din any. Hes always d
Arrows on this final day of september trading and q3. Obviously tons in the news flow this morning. A lot involving inflation as core pce comes in 3. 9 year on year. Thats the first 3 handle weve had in some time. Were watching washington and the potential for a Government Shutdown over the weekend. The uaw expanding their work stoppage to a couple of the big three. This is all par part of the story and how we view the Fourth Quarter and the economy into next year. Are those shocks going to make an impact . You mentioned pce, the inflation number. Thats obviously the talk of the day on wall street and somewhat encouraging we saw that core number go below 4 from last year. Its 3. 9 . Jane fraser, the ceo of citi says were halfway there to getting inflation down. The second half can be challenging. We spoke to the white house, head of National Economic council, lael brainard, and heres what she said about the path to lower inflation. The main story of all the naysayers was that you could
Is waiting to see, even when you look at the market it looks like the 10year is sitting above 4. 3 the 2year well above 5 then youve got crude oil prices that are creeping closer and closer to 100 actually this morning theyre off by 1 , back to 22. It was around 93 yesterday. A lot of concerns over at Goldman Sachs. Theyre suggesting they they 12 months from now the price will be 100 for a barrel of wti. Weve been talking about this it would filter through, but the you know, it depends on how you believe. Theres two sides to everything, it seems like. I could debate either side it does hurt demand. Were going to be about 4 a gallon and that may cause people to rein in spending on other things its deflationary and inflationary i could see both ways. It works its way into every single thing from items that have to be delivered to manufacturing. The one thick we did see from bank of america, remember we had them in and we talked about what they saw over the last month much more went to en