Succeeded. In a surprise move, the worlds second largest economy devalued its currency by nearly 2 against the u. S. Dollar. Its largest devalue situation in 20 years. A weaker yuan would make chinas goods more affordable to foreign buyers so its being interpreted that chinas economy is in jeopardy of a deeper slow down which sent stocks tumbling. The dow jones fell to 17,402. Nasdaq dropped 65 and the s p 500 sank 20. Commodities also came under pressure since china is a big buyer of them. Oil fell to a sixyear low, down 4 to 4308 and a report from opec showed output increased to a threeyear high in july. And its not just stocks and commodities that are reeling. The impact could be wide reaching. It was a shot literally heard around the world. On a down day, chinas devalue situation of the yu a n is an anchor that dropped bonds and commodities yields around the world. I think screaming that china is in trouble, weve seen a series of data points out of china of a serious slow down. Rep
Succeeded. In a surprise move, the worlds second largest economy devalued its currency by nearly 2 against the u. S. Dollar. Its largest devalue situation in 20 years. A weaker yuan would make chinas goods more affordable to foreign buyers so its being interpreted that chinas economy is in jeopardy of a deeper slow down which sent stocks tumbling. The dow jones fell to 17,402. Nasdaq dropped 65 and the s p 500 sank 20. Commodities also came under pressure since china is a big buyer of them. Oil fell to a sixyear low, down 4 to 4308 and a report from opec showed output increased to a threeyear high in july. And its not just stocks and commodities that are reeling. The impact could be wide reaching. It was a shot literally heard around the world. On a down day, chinas devalue situation of the yu a n is an anchor that dropped bonds and commodities yields around the world. I think screaming that china is in trouble, weve seen a series of data points out of china of a serious slow down. Rep
And the biotech nightmare that lost more than half of its value and what sent the stock cratering. But first renewed fears over china, the shanghai falling more than 2. 5 . Industrial production, a revamp of the ipo system weighing on investor sentiment. This was chosen as the top business story of the year. 2015. So for 2016, could china but the big wild card for the markets. Tim, what do you say . I dont think so. I think we obsessed over it in 2015. China has a major credit problem and they are the biggest part of the problem. I think the things today were the drivers, the currency is at fresh lows. And the yuan, you could read it 234 terms of Deflationary Forces and read it in terms of the economy outright or a competitive deval around the world but i think we priced that in. Well get china pmi on friday night. The numbers that were out were nah. And what china is going through, people Pay Attention to. When liquidity is terrible, it makes sense people are concerned. Bigger issue i
Yesterday all my troubles seemed so far away stuart it was a great song. Yesterday. That was a jab at marco rubio to livered to hillary. She is old news. The hillary story. Nobody knows her. She keeps her sunglasses on. Does not look like someone who is trying to talk to voters. Chris stirewalt is here. Stop laughing. [laughter] go to strange places that she has never been before. Is this working . The sensible reason was to have a madcap run across the United States. You go out. You meet the people. You do all of this stuff. Maybe she did not stir anyone to movement. If barack obama was how walked in there people on their feet. I think that there were probably people who recognized her but said okay, here is your chicken burrito bowl. Stuart i have not seen pictures of the scooby bus here at. We are told that it is a black gmc van. The exact nature of that van we do not know. We know that it traveled with a double secret service escort. An unknown hotel somewhere in iowa where she ove