Is it a u . Maybe its an l. Or perhaps its a z. Or maybe its a w. Or a nike swish. We keep hearing people argue about the shape of the recovery. But this whole debate misses the point. The defining question of this market is very simple. Will we have a depression . Anything that makes a depression less likely causes stocks to explode higher thats what yesterdays rally was about. Even though we gave up some of the gains today, im calling it a consolidation day no matter what dow sinking, nasdaq dipping 5. 4 when you have a bag r big rally yesterday and it us diddant give up everything because of a Late Afternoon sell off, it is a of a kelgs. The issue is not whether well have a rapid v, recovery u, bounce the w, l shape, i dont know the l, of course, is the house of pain for ages maybe we havent started talking about the swish because of the Michael Jordan series. The market slows down dramatically all the people fretting about the shape of the recovery are getting ahead of themselves.
Now the ceo of juul is out and tobacco giants Philip Morris and altria call off their merger talks. The Political Risk for stocks, futures pointing to a muted open House Democrats move on impeachment and what the turmoil will mean for ongoing u. S. china trade talks. New products driving sales and double digit growth in china. Big news regarding Philip Morris international and altria. The two companies deciding to end merger talks juul is announcing that kevin berns is stepping down as ceo. It will suspend all broadcast, print and Digital Advertising in the United States as regulators have launched this crackdown on vaping products. Meantime, altria tightens their guidance for the year. Reaffirms domestic cigarette volume down 5 to 6 but it does seem like juul is entering a new chapter here as they try to get fda approval. I think if the fda cares about where was gottlieb on this cnbc contributor why didnt he shut this thing down we cant get cannabis passed in this country we let juul
President trump is set to speak in new york city amid ongoing impeachment efforts from democrats in d. C. Well bring you the president s comment as soon as we get them. Connell as we wait for them, fox Business Team coverage, Kristina Partsinevelos on location at the News Conference for us. Gerri willis on the floor of the new york stock exchange, Hillary Vaughn on capitol hill. Grady trimble in detroit latest on the auto workers strike. Bernie sanders made an appearance. We wait for the president i will start with you, kristina. A focus on trade. Three areas, First Agricultural industrial goods as well as digital trade. This deal was supposed to come into effect as of january 1st. What is missing . No mention about auto tariffs. After the Bilateral Agreement you had the president answer questions about the usmca and that is the trade deal with canada, mexico and the United States. He did put much of the blame on House Speaker nancy pelosi should it not pass through congress, saying sh
Number overall, 130,000 jobs added, that was 20,000 or 30,000 less than expected, at least, given who you were listening to. Private secretator read added 90 job. Participation rate up. 3 , thats the high since 2013 hours worked rose. 1 . That was somewhat expected it is at 34. 4. So overall your reaction overall remains market wary, if you want a job, you can get a job. Thats an amazing economy. 3. 7 we got to get used to that what im shocked at is that i hear people talking about what the tariffs would do, even previous show. Look, when smoot holly came in, we did real big tariffs before president roosevelt, really tanked the economy, or was participant in tanking the economy, bank failures, this is not bad given the fact that the president drew a line in the sand versus the chinese. I wouldnt expect it to be this strong you can say, listen, mining lost jobs well, no kidding the country has gone away from mining but what i dont like to see frankly is a big spike in healthcare that ha
Hour of trade, barry knapp back. Certainly the tone feels better. Do you think its fundamental with the trade tensions or some month end rebalancing stuff . I suspect theres a bit of month end rebalancing going on i think its too early to tell whether the Macro Economic fallout from the latest negative Business Confidence shock has what degree of effect its had next weeks ism on tuesday, payrolls on friday, will be much more important bempl marks to see whether were over the hump sort to speak on this i tend to be cautious and not chase the move today. On the big stories that we are watching today, kayla has the story. Josh lipton is tracking tariff concerns for apple kayla . The hope began when chinese officials said there was some Effective Communication of the two countries and it continued this morning when President Trump said in a radio interview theres a conversation scheduled today. I have talked scheduled theres a talk scheduled for today at a different level and yeah, they ha