[inaudible conversations] good morning. The committee will come to order. We are here today to discuss the outlook for the 2019 wildfire season. As we know, its underway, certainly underway in my state. I know its underway in washington state, california most certainly, and weve all received [inaudible] yeah. West virginia, youre okay right now. But if you look at that map, that red in the southwest is something to Pay Attention to as well. Excuse me. Last week the National Interagency fire center released its monthly wildland fire potential outlook for june through september, and despite relief from the oppressive Drought Conditions this past winter, analysts predict elevated wildfire activity in california, oregon and washington among other areas in the country. Some of the stage is set for fire activity similar to indescribable damage and the staggering loss of life that we saw last year in northern california. We watched in horror as the camp fire engulfed the town of paradise, kil
The upside. This is down to wall street, partly traders getting wages on that. The fed hiking rates. This whole talk of chinese stimulus is rekindling some of that risk sentiment. We are talking aboutas far as the bond market, we have a steady picture for treasuries. Weve got the 10 year yielding 4. 6 , where we were yesterday. Weve also got an open in thailand, having a look at bangkok and seeing what is at the start of the trading day. Its a by. 25 . Seeing a pushback taking place with the recent stimulus plan. 15 billion handout in thailand from the new prime minister. Some of the Rating Agency suggesting that if they dont get growth out of that, they may be looking at a downgrade. Its about digesting that, its continue to strengthen. It by nearly one barth in the last week. The fed speak, it is center stage. Speculating that the central bank will hurd well head to another pause as far as Interest Rates go. We are on track for a soft landing. Inflation has come down quite a bit. The
The s p back up. The nasdaq outperforming today, 164, a gain of 1. 25 . The 10year note yield gets as high as 4. 88, down to 4. 76. So, rates come down, stocks go up. Joe terranova, what do you make of this . Maybe we dont wait until october 13th for low to bottom. Maybe well do it today. This is strong price action. This is the type of price action that leads you to believe that we are certainly building a base in which we could rally through q4. We kind of came off the bottom led by where the leadership has been in 2023, and thats been the megacaps. Were seeing a little bit of a broadening out of the rally as the day is moving on. S p equal rated is actually rallying along with the s p, so thats encouraging. Only one sector is in the red. Thats staples. Its kind of industrials start, financials piled on, tech doing its thing, and now every sector but staples in the green. I say focus on the price action. What will be important is next thursday, the cpi report, and will the cpi report
Expected employment data. There is serious catch. There were other economic reportings that were huge misses. Stocks under pressure. As you heard earnings from amazon but not just amazon. Semiconductors have led the way. Supermicro computer has led the way. Nvidia is up 200 . This stock up 700 the last year. Well obviously preview the fomc meeting, a special guest says jay powell is hapless and dissatisfactory. Investing lessons from the movie the naked gown. Why have College Protests been allowed to get out of control. Why americans are real influencers. Not just peddling stuff on social media but dictating the control of our own lives. All that and so much more on making money. Charles all right, so earnings season stock market leadership was supposed to sway away from the magnificent seven to all the other names. Now there are names in tech, but even outside of tech but after stumbling for most of the month, folks, we can see now, well the magnificent seven, most of these behemoths
We, after kind of mixed not much going on yesterday. News of course a bit slow in some ways, european markets were open yesterday, many closed for both the christmas and boxing day holiday. You can see a mixed bag in europe, asia overnight also somewhat mixed. Lets get to the 10year note yield on crude oil and how were doing on both of those important market barometers. And you see wti down lets get to the road map this morning. It starts with the tax effect. More Companies Including barclays and shell outlining major tax linked changes to the bottom lines in the first quarter. The race is on for fed vice chair former bush era advisers reportedly in the running. Tesla t is in a direct challenging a tesla pickup could hit the road but does tesla already have model 3 problems . Stocks look to rebound from yesterdays decline. A number of companies reacting to tax reform. Barclays expects a writedown of 1. 3 billion on the annual post tax profits. Royal dutch shell sees a charge of 2. 5 bi