Arabias oil facilities. If the outage is extended or if military action is employed, what could the further fallouta. First, welcome. This is the first time that you hosted the show. And your father is watching. So your daughter, the whole hour mike evans why did i say mike evhe have evans. Too bad we are live are you the best and what is the fallout im surprised the market didnt trade off more over the weekend im like 25, 3 almo handle easy but none of it really happened airlines down a percent and a half and so to me this is actually a very encouraging day and this is from somebody whos th has been bearish for a while. Encouraging that is regards to the market last week we had a pretty hot inflation print. And so when you think about this, when you see crude oil go up the way that it did and the dollar stay big, to me that poses some sort of issue could be a really interesting fed day wednesday. We know the administration doesnt the rates where it is. So it could be an interesting we
We see a bit of a drop when it comes to european stock equities, down some 0. 4 . A lot of the focus is on what Central Banks will and wont do in the upcoming days. Looking at pound, because of herschel he parliament and the suspended. Rogued, 1. 63, soear yield at it is stabilizing a little bit. We will be speaking to a Morgan Stanley chief executive. That interview coming up at 7 30 p. M. London time, but first, lets get straight to new york city and the bloomberg first word news. Of the chineser communist party taking aim at comments from a peter navarro, saying they are unconstructive lies. The president ial advisor is considered a hawk. He has repeatedly accused china of seven deadly sins. The peoples daily says such comments are preposterous. Te winningster con the first of two confidence votes in the italian parliament. Withomised to work closely brussels on a 2020 budget featuring lower labor taxes and a minimum wage. Later today, his Government Faces a senate vote. Factory pri
Week, it is like inversion wednesday is here. Are things different this time around, pete, because this time stocks barely reacted. Granted, it was fleeting but we are ever so close to the inversion. Thats true but the reaction i think does speak something about whats going on in the market right now, and i would also add volume yesterday, volume today, at least in the derivatives world, has been absolutely depressed. Steve can talk about the nyc, but we are seeing volumes that were unbelievable. We are talking about 7 million per day over average is what weve been seeing over the last eight or ten days. So it is amazing how much volume we are seeing. With that volume it gets interesting, but the last two days, the light volume is concerning it is almost as if everybody said, you know what . Maybe well take the last week of august off. We will pull back a little bit, off of all of this maybe the inversions are not as dramatic. I would have thought that the inversions, the reaction to t
Move higher, stocks surging with the dow gaining more than 250 points energy, consumer discretionary, industrials all leading the way, this as the yield on the 30year bond hit an alltime low so do you trust todays market rally . Guy adami . Hi, mel no, i definitely dont trust it but i will say this. As we get into the later part of this week, into a holiday weekend, theres an old saying steve knows this on the floor never short a dull market you could see the market flowing through over the next couple of days into early next week. I will say it again. I think it will culminate on the down side when the vix trades up to 30. With that said, there are Trading Opportunities here i will do a power pitch in back end of the show. I thought you were going to do it right now. That is going to speak to exactly that. Yes grasso theres another saying too, dont fight the fed. Never short a dull market, dont fight the fed. You have both coming up right now. Do they cancel each other out . No they m
Jim terranova, Jim Lebenthal, jon najarian jpmorgans top strategist saying stocks will return to their highs. Lets bring in one of them today from new york. Welcome. Thank you got the note in front of me after this wild and turbulent week, why do you think were going back to the highs . Well, look. I think that the market is set up, when you look at just the market, when you look at the Business Cycle and so forth, its set up for further upside i think the profit cycle is going to get easier as we go to 4q, something to say about the cycle accelerating positioning is very low. Sentiment is extremely negative. I think theres a setup or a case to be made for upside obviously, the market is currently being held positive by policy, trade uncertainty and so forth, and thats where ultimately we need to make a call, and were sort of thinking we wont necessarily get much more trade escalation as far as the next layer of tariffs go some people, with all due respect, think were going to get a lo