Policy while mayor is trying to get the minority vote. By the way, third in Morning Consult poll. And then theres this, Bernie Sanders, you think he looks sheepish on the flight there, why sheepish, because the socialist was flying first class, lets get to the market, nice way to open the show on valentines day i think, a long weekend coming up. Some traders on wall street are going to be thinking, wait a minute, do i want to hold stocks over long weekend, i cant fix anything until tuesday morning, who knows what will happen with the virus, in advance of that, we have the dow down just a point, not Much Movement there, s p down 2, nasdaq, im sorry, s p up 2, nasdaq up 14. All right, now this, china continues to report a surge in new cases and deaths from the virus. 121 deaths, chilling number for you, 1,716 medical workers affected since virus erupted in china, 6 of them have died. Carnival cruise lines have canceled 18 cruises in asia, lets get on with it, its friday, Varney Company i
Welcome to squawk alley. Im jon fortt. David faber and Morgan Brennan are here a lot to get to today, including winners and losers from last nights Golden Globes. Well begin with todays market drop, though stocks are off the lows, actually at the highs of the session. Bob pisani has whats driving todays down swing and maybe swing a little back up more than a little. We almost went positive a few moments ago on the s p 500 heres the intraday. This is similar to friday. The low print but v was there at the open friday we tended to have faded into the middle of the day, looked more like that. Well see if the same pattern happens. For the moment, we touch even going on the s p ill show you the sectors here cyclicals tend to be most affected energy on the upside today mostly the big integrated companies that are up, shale down, e banks down but off the lows same with transports not a good day for the transports overall retail is down, but again, off the lows thats the general pattern you se
Decline. Biggest drop since 2009. A real freeze that has hit the manufacturing economy. Thats right. The lowest ism reading this is a kind of this 340 versus last month survey sometimes market moves are inscrutable. Yesterday, markets were up clearly just challenged this idea that the u. S. Economy was resilient enough we are constandly talking about increasing recession fears. Suddenly this data point comes along. The consumer, in 2019, are we dependent on manufacturing to the extent we used to be no. Not even close it is a great swing factor it doesnt go down that much but it also accelerates that much. You take a look at treasury yields yesterday as soon as this number hit 0 years at 2. 089 . We were above 1. 7 on the 10year yesterday. That shows you the market is saying, okay, the fed is likely to give another cut in october not a sure thing probability right now. The october adp report will be released at 8 15 eastern. Reportedly added 120,000 private sector jobs last month johnso
Accommodative policy and more from that interview with Christine Lagarde stepping down from the imf taking the top job of the ecb president in november take a listen to her view of the u. S. Economy right now its the longest period of growth in our country. The unemployment numbers are at rock bottom. Its in a very good place. Her thoughts on trade, china, and the likelihood of a global recession all coming up. First, mark tepper, ceo of Strategic Wealth partners, welcome back youve been surprised, impressed at the resilience of the market during september, which is not seasonally a very strong month september a usually a very sleepy month historically. Its down somewhere between half a percent and a percent, but so far this month, were up about 2 , so thats pretty good. I feel like were in a tina situation, where theres really no better laplace to invest your monday yields have come down on bonds its really not interesting to invest in the euro zone. Tina, there isno alternative. Ther
It on repeat it is thursday the 18th of july and fbn am starts right now. That song annoy you yet welcome to fbn am dont be annoyed tuesday Lauren Simonetti thank you for joinings. Rng good morning everybody. Im cheryl casone. Lets take a look at how your money is moving this morning pus futures are looking at more declines dow down 80 points and nasdaq down 12. 5 two dow stocks do report today United Statessed health and microsoft. Despite concerns from investors theyre gearing up, of course, for next fed meeting were looking for that rate cut as you can see right now on the tenure, unchange. Taking a look at oil prices comments foreign minister that u. S. , quote, shot itself in the foot by leaving the nuclear deal oil is at 56, 64 a barrel. Worries about global outlet for earnings, of course, trade concern are already there. This is how stockses are trading this morning in europe red arrows across thed board. Escalating there. To the top story this morning the president waste nothin