Movement President Trump threatens owe obliteration if iran attacks anything american in the latest war of words between washington and tehran well speak to u. S. Treasury secretary Steve Mnuchin within the hour and thyssenkrupp shares get a lift on a report of a possible offer by Engineering Firm kone for the elevator unit. And european chip stocks rise after micron beats Third Quarter forecasts and resumes shipments to huawei despite a washington ban on the chinese tech giants. Good morning the Federal Reserve chairman, Jerome Powell, has warned that the outlook for the u. S. Economy has deteriorated since early may thanks in part to uncertainty about Global Growth and trade. Powell said publicliey during a speech that the Federal Reserve remains independent. He insisted the central bank has yet to decide when is the right moment for a rate cut. The question my colleagues and i are grappling with are whether these uncertainties will continue to weigh on the outlook and thus call for
I keep going, why cant we wait . Maybe the trade war is not weighing on the outlook as much as we feared. I think you will have to reprice to a certain degree less than three cuts. The fed is in preemptive mode. Does the fed get behind or in front of the eight ball . It comes down to the discussion, do they want to make insurance cuts . What are we ensuring ourselves against . Jonathan to discuss, we have peter tchir, iain stealey, and noelle corum of invesco. It is the number one question following the payrolls report. What does the jobs number on july 5 mean for the fed meeting on july 31 . Noelle no doubt, the payrolls number was strong across the board but we dont think it means much. Definitely reduces the likelihood of 50 bps cut, priced in going into payrolls. In terms of the fed, communication will be key. They will either have to deliver a cut with markets that are doing well, but powell seemed to write that off in the q a section of the june meeting. Or they will have to say
Good afternoon welcome to the closing bell. Im wilfred frost. And im sara sizen. Lets check on markets in the final hour of trade. Not too far off from session highs. Going strong for a third day in a row. Dow jones industrial average up about. 8 of 1 226 points higher. S p good for a gain of 1 . Same for the nasdaq. Best threeday win streak for stocks in several months s p flat for the week as a whole. Weve got a big show including our closing bell news maker verizon ceo Hans Vesterberg will weigh in on huawei, 5g and more. Its our weeklong series featuring five Top Fund Managers and weve got David Ellison from hennessey. Three stocks he is watching into the close coming up. First up, though, President Trump laying out hiS Immigration plan lets go to eamon javers at the white house with what weve learned so far the president just wrapped a speech in the rose garden a few moments ago in which he laid out his plan for Legal Immigration into this country, saying that we need the move, th
Good friday morning. Welcome to squawk alley. Im david faber with courtney r reagan and mike santoli. We will kick things off with amazon shares higher after earnings, just slightly. About a half percent profit doubled to a record high while announcing plans to introduce oneday delivery to prime members. Our guests join us now thank you for joining us aaron, theres slowing growth at amazon kind of glossed over by the fact well move to oneday or at least thats the goal Going Forward. Spending 8 800 million to do it in the second quarter. Ultimately the question is is that worth it . Its an awful lot of money, and are they doing that because they need to increase the loyalty of current prime members not to lose them or are they trying to get customers back helps continue to differentiate amazon versus the market roughly 90 of the Retail Market is still offline 10 Online Amazon has a third of that market theyre making the bet over the foreseeable future, moving to oneday shipping, you can
The underlying economy is doing well. The u. S. Is doing relatively well. The u. S. Is simply in a better place. Yes, gdp was higher, but the devil is in the details. You have to strip out all of the noise of trade and inventories. Inventories and trade, that is not indicative of the underlying economy. Underlying demand was weak. Business investment, pce cooled. Definitely a deceleration from where we were last year. Nowhere close to recession. Jonathan join me around the table is matt hornbeck, greg london, ian from steely. Ian, lets begin with what must be the most hated 3 rate of gdp in america in recent memory. Why . We have stocks up, treasuries up, but everyone seems to like it on the markets side. It is one of those, you beat expectations, but the mix of it was not great. It shows what people have been saying, we are in the slow trend like growth environment, which is good for all assets to why asset markets are uptodate. On a gdp if i said 3 print, would you expect to see 2yea