Where the world of politics meets the world of business. I owe you a word of explanation. We had some technical problems. For those of you on television, you got to see some charts for a bit. Now we are off and running. The first president ial debate takes place in ohio tonight. Kevin cirilli is on the scene in cleveland. Great to have you there. Before we get into the substance of what might be discussed, set the stage. Who will be there, what kind of arena is it, what are the rules moderator chris wallet Chris Wallace will have to enforce . Kevin 90 minutes, uninterrupted , the first time President Trump and go but it will go headtohead and both are giving clues about their strategy based upon who they are surrounding themselves with. Room given then social distance guidelines. Congressman tim ryan, a central democrat, and another centrist democrat in battleground states of ohio and pennsylvania will be meanwhile,den, and we are learning some conservatives in the farright movement of
Overnight, though they lost some ground this morning. A lot to watch, china pmi backing expansion, the fed launches a new dollar repo operation. Jim, sounds like youre focused on testing, having talked to abbott last night. Right i think that myles white and now the new ceo recognize this, as they did during the aids epidemic, when you find out who has it, everything changes in this country, we can find out who has it, and doing a serilogical test, finding out from blood of people who have had it maybe a lot more people have had it than we knew. Maybe we can find who has got it, they can be quarantined. Already the carpers people are saying its only going to be med techs and hospitals. Myles and robert told me absolutely, this will devolve into a pregnancy test at home. How quickly, i dont know. Abbott labs is one of them dr. Gottlieb is going you know what ive seen science this is working in forgave earl avor ofd guys megs work with alex gorsky made me feel maybe next year we can go t
Through 1. 55 , is back at 1. 56 . The dollar continues to strengthen as well. We are very close to the 100 mark for the dollar index. The your a particular the euro a particular feature of that. Story. Ple the big hsbc also worth focusing on, down by 6 today. The new strategy doesnt seem to be finding favor with investors. It is around 28 points off the ftse 100. Gives you idea of the skate and weight and of the of hsbc. Coronavirus certainly present when it comes to the coronavirus story. 1. 07 handle we had a one dollar zero seven cents level we had a 1. 07 level if you minutes ago. Vonnie apple saying work is starting to resume around china, but experiencing a slower to normal return a slower return to normal condition than expected. For more, we are joined by steven milunovich, Wolfe Research managing director, over the phone. Almost 50 of factory workers are not at work in china, so this statement, even though it came from apple and is providing a drag on stocks today, could almo
Spiking over those concerns over iran also coming up on the show, House Financial Services chair Maxine Waters on why she wants a hearing over facebooks crypto play, libra. Join us, stephanie link, from levine, welcome. Are you doing buying today little bit. Little bit like what little Semiconductors Semis little broadcom i started a position last week when it fell 8 on the day and i just kind of think that the valuation makes a lot of sense and well see. Its a china proxy for sure, so something good has to happen on trade but i think the valuation is discounting a lot stephanie i was talking to one senior trader who said that the threat of a cut on Interest Rates is more powerful than the cut itself and that therefore its harder to get this same good news again. Likely be dialing back the promise of a cut or it will be the cut itself youre coming from a much lower base than historical levels but it was good news that we got i think the commentary yesterday was exactly what was needed.
Were about at session highs with the Dow Jones Industrials up about half a percent. The nasdaq composite is the laggard today, down about a quarter of a percent. We do have communications services, the lagging sector, real estate also lower for the session. Energy and utilities leading the way. Investors digest the news out of nvidias conference, 868. They have the new a. I. Chip. Lets just kick this off with even your initial reaction to everything weve heard so far. Jim, ill start with you. Are you surprised that were seeing a little bit of pullback on this news . Was it not as, i dont know, as bangup as the market had hoped to hear . I dont think thats what it is at all. Its had a hell of a rally, 75 year to date, 3x the last 12 months. A little bit of profit taking is warranted. You think to yourself, what sort of rabbit can they pull out of a hat . Im not expecting them to come up with a cure for cancer on that conference that they do. They did what they are supposed to do. They c