Soaring today. The feds fight over the future playing out realtime in jackson hole the big focus turning to the fed champ powell, to his speech tomorrow morning lets go to Steve Liesman live in jackson hole for us we got a dose of fed speak today at least. We did. We had the First Official to speak at the annual gathering in jackson hole beneath the tee time but they didnt tell the markets what they wanted to hear about the need for deep Interest Rate cuts in the months ahead. I didnt think the cut was appropriate necessarily, but i went along with it to get back to neutral i am on hold right now my forecast is just to hold. My sense was weve added accommodation. Right. And it wasnt it wasnt required in my view. I think were in a good place relative to the mandates that were asked to achieve now, dallas fed president Robert Kaplan said he wants to avoid cutting rates if he can, but he says he is open minded about rate cuts. He also is concerned that the big decline we had in bond yield
Straight day of declines the nasdaq trying to snap a twoday losing streak. Industrials the worst performing sector following a downgrade of 3m, and for more on all of this and what is sending the dow lower today, lets go to bob pisani at the New York Stock Exchange an important thing, scotty, here is were down three days in a row, and this is not so much i would call searching for direction as i would say that we really need to figure out where the market is going. Were waiting for news, essentially here were waiting to see if the fed really decides they needed to cut rates aggressively, we really need to see if there is any progress on trade. And we really need to find out if the earnings estimates are too high going into the second half of the year take a look at some stocks moving here. The good news, the low print was at the open. I see semiconductors like advanced mike row are doing well, all the metals have had a terrible year. They have no traction at all amazon has a new breako
Is bracing for two days of testimony from fed chair Jerome Powell on capitol hill along with the fed minutes, which will be released tomorrow it is all going down as the market hovers at record highs. So can powell deliver and is the fed about to spark another record rally guy . Yes. Why why eye of the tiger . Why survivor that song is brutal. It is not brutal. You chose that, right it is who survivor. Oh, yeah. I allow 10 seconds of needless chitchat. Because we have to. We usually do 59 minutes guy, can you please. I thought the market is going to roll over for quite sometime. The question is can the fed say what the market needs to hear in order to have the rally continue the s p 500 at alltime high, the vix has a 1500 and everyone feels confident that the rally will continue. I cant imagine what he could possibly say that would be any more dovish than theyve been. It will be interesting he has to answer questions tomorrow, is that right . He does. The question is if im a senator or
republicans hope will win their party control of congress. we are going to hold the majority in the house because we have a plan to fix the problems are countries facing the other side has only a ploy to win back power from shelves and rip away our constitutional freedom, reproductive freedom, it has awakened millions of voters. if democrats want to make abortion the main issue when every poll we have seen says that the economy and the cost of living is the number one issue, good luck to them trying to defend their extreme position. i guess he hasn t seen all the polls. meanwhile we are still being the key decision that could be made any moment, as a judge determines whether to grant trump s request for a special master to review what it was seized from mar-a-lago. earlier today both sides the aisle gave way to trump s handling of the documents. the process for declassification. the president is in a very different position than most of us in the national security
investment at global welt management your fast money debut. yes. thank you, welcome good to be here. and scott s debut as well. first of all tim talking about it happens in new york subways break down he is on a subway. rafi is watching. rafi watching. give him a shout out. it will be great. ton on fast the earnings bonanza continuing in video, roku and the reaction all three stocks here trading up nicely in after hours. plus, scott, you don t know this we do a mystery chart. sure we do. it s a chart. it s a mystery after a volatile thing is poised to pop we find out what it is and today but the market says the musir tesla. you figured out the video tonight. we re shaking it up a bit. change is good we mitt the microin specific stocks you come to love on the program. but given all the stuff going on coronavirus, the fed s non-q.e., q.e. central bank easing we re going macro. having laura and scott gives us the perfect desk welcome to you both. scott you