The currency weapon has been. Yeah. It was a big surprise last week when the president dropped that tweet about september 1st tariffs. And some people that i talked to, tyler, and kel, it changed the game for them. That what they thought they had was a figured out market for the most part. They felt that way because of the fed and the rate cut and they felt like they had their hands around where the market could go in the months ahead were still throwing out of whack by that. Going into that, this was a market that was up almost 20 , so far this year, trading near record highs coming off of good earnings, fed rate cut, felt it was all working for the markets. As you heard Barry Banister say, sure, we get more of an odds of a fed rate cut, trump did something good on the trade front and markets will be fine on that note, well hand it over to you guys. Youre always one tweet away. Thank you. Well see you later. Welcome to the closing bell. Im scott wapner stocks plummeting, names like ap
Third, boy, is it ever in the way even with record numbers after a day with the dow losing 79 and s p advancing and nasdaq gaining, the last two both records. You need to understand that the government has become the one wild card in this market and does reek havoc on all sorts of stocks last fall the fed created its only personal bear market because he told us he might need to raise Interest Rates over shooting to stamp out inflation, which at the time was nonexi nonexiste nonexistent totally out of touch and crushed the market powells rookie mistake almost gave us a recession but came to his senses in january and changed course but we never should have been in that position to begin with thats what keeps happening. We never would have gotten in this mess with janet yellen. She was day to driven and understood the power of her words but even though president trumps tweets are about lower Interest Rates and maybe having some effect, i dont know. Remember what he did he sat janet yellen
Capitol hill falls far short of democrat hopes. And the greatest brexit cheerleaders says its time to act decisively to pull the country out of the european union. Lets get you started with a quick check of how markets closed the wednesday session here in the u. S. It was a mixed picture across markets in the u. S. Picture, but you can see, of course, that the s p 500 rallied to another record high. We have very strong numbers out of ups with its profit guidance. Higher. Aq also closed Texas Instruments posted strong earnings. Boeing and caterpillar really weighing on the dow, which underperformed. As. Futures at the moment little bit in the red at that 3018 level. Yields were down with manufacturing pmi barely avoiding contraction territory. Lets see how things are shaping up for asia. Sophie geopolitical risks into the fray once more after north korea launched two projectiles this morning. We will see if japan will strip its neighbor of its preferred status. Nissan earnings as the ca
Investment committee, josh, steve brown, we begin with the markets, stocks continue to stage their rebound, rise in bound yields giving relief there. You finally can take a little bit of a sigh of relief that yields have stop going down, maybe they bottomed and stocks did too. I feel like were in one of those moments and we have had them off and on over the years it remind message a lot of that risk on, risk off kind of market environment that we had previously spent months in different years throughout the recovery 2011 stands out. We probably did this in 2015 too. Where you have days is obvious, today is a risk on day, and so they sell off all the bond proxy, defensive sec ttors, and lasts a di or two days, and find yourself in other days, theyre taking up consumer stable stocks and utilities and Everything Else gets dumped i dont know that were definitively in that for a long time, but we have definitely been in that the last week or so maybe thats the way it has to be until we get
Testifiesller finally but his longawaited appearance falls somewhat short of democrat hopes. Shery we have breaking south korea gdp numbers for the Second Quarter. The preliminary numbers year on year are seeing growth of 2. 1 , which is better than the expected 1. 9 growth. It is also an acceleration from 1. 7 in the First Quarter. Quarter on quarter, those numbers also avoiding a technical recession after contracting 0. 4 in the First Quarter. We are now seeing quarter on quarter growth of 1. 1 , which is better than expected. It seems that we have seen more Government Spending and south korea. The contraction that we saw in deceleration in the First Quarter came from local governments not spending as much. Now we have Government Spending kicking and again. Also consumption being relatively resilient despite the fact we have been getting contracting freddie lacks exports contracting the last seven months. This has been a difficult environment for south korea. Investments have been fa