Furloughs taking place the other thing to keep an eye on is the high yield bond etf, hyg, and also the junk etf, spider, bloomberg, bark clays, hy bond, jnk were seeing those jump because of some of these fed actions which include now basically buying into and helping support u. S. High yield corporate bonds, so really talk about taking all the tools out of the chest its cause something strategists to now circulate notes today asking what could potentially be next for the fed is it going to be Something Like buying into actual equities . Guys carl . We are glad back to have on our air art cashin, director of floor operations at ubs and bob pisani art, we have missed your guidance and wisdom over the past few weeks as you recover from an accident, but its great to have you back let me just start off by asking you about this historic fed move and as you said in one of your notes this morning with powell on the tape, the game is now on the table. What do you mean well, its, you know, the
Youl uber, spotify is testing new lows stephanie we were just talking before we got started this market has to give you a little bit of whiplash. Were up for a second straight day but hold your breath maybe things will change tomorrow. You cant get obsessed with it you have to either have to be a long Term Investor or day trade. Very difficult at this point look trade is obsessing everyone i cant wait for earnings. Im super excited to talk about banks. Im watching technology today. Technology is 26 of the s p 500 waiting. We have gotten a couple of surveys in the last couple of days that suggest i. T. Spending is slowly. 4 this year, 3. 4 next year you have to start to be more selective in technology. Again, a big component of the s p. I still think you want to be in semis, cloud and security. You want to be very specific on software and hardware. We had a lot of calls cash coming after the close last night two days in a row of gains and almost all sectors positive both days so within
Since President Trump and president xi met at the g20 last month. The uk ushers in its new Prime Minister, but can it get brexit back on track and your stockof the day snapping back. Shares of snapchat roaring in premarket trading. Could it be a sign of better times ahead for evan spiegel and the Company Overall . Its wednesday, july 24th. Worldwide exchange begins right now. Good morning welcome to Worldwide Exchange. Im dominic chu in for Brian Sullivan we have Team Coverage on all the manger sto major stories impacting markets. Ylan mui has all things big credit technology. Patrick palfrey is on set with me digging into the earnings story and eunice yoon will have the latest on the u. S. china trade talks. We started in ylan in washington with big tech and the juscrutiny they face. Reporter the review will scrutinize online leading platforms to see if they are harming consumers. In a statement it is said without the discipline of meaningful market based competition, digital platform
Crossed, it looked like a different picture. We had a reversal midday we saw stocks give up the ghost and treasury yields surge and 10year yield cross 4. 1. It was the reversal to watch i think it is because mary daly and San Francisco fed says there is more work to be done after the cpi number people thought it is not over yet. It aint over. A long slog here. The lady hasnt sung. You cant say which lady right on the squawk planner. More inflation data. Ppi is due at 8 30 a. M poll polled forecasters expect a tick higher of. 2 . This comes after the cpi data showing prices rose 3. 2 year on year which is below the forecast the Supreme Court blocked for now a multibillion dollar deal by Purdue Pharma from the opioid crisis. They will look to release the claims by nondebtors against nondebtor parties without the consent. The department of justice argued the release of civil liability is not authorized by the bankruptcy code. Purdue is optimistic the Supreme Court will agree which the cas
Secure facility when he was Vice President and when he was the United States senator. Both are a violation of the espionage act and having a poor memory does not absolve you from violating the espionage act. Maria jonathan, of course we know what robert hur said after the interview of joe biden, that the public would see him as an elderly man with a bad memory and yet the doj will not hand over the actual tape, the actual audio and notes, transcript from that interview. Yes. Quite interesting because im not sure the real reason for not turning it over other than not wanting President Biden to look bad and my guess is that tape would be even far worse than robert hurs characterization of the interview. And we see it time and time again, whenever hes not reading directly from a teleprompter hes a mess and everyone can see it. There are a couple things in the report that are quite interesting. I hope they get into what is the circumstances if which these documents were found . It seems ve