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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 ....
Percent. Nasdaq down 53. Major Market Indices falling better than 1 yesterday, the selloff coming after surprise decline in Manufacturing Activity after the World Trade Organization cut global trade forecast for the year, we told you about that yesterday, joining us hodges capital manager, craig hodge. What did you make of manufacturing data and what do you think that tells us about the economy and the markets. Its obviously not positive, we put all the manufacturing, its only ahird of the economy, we are a service economy, consumer is over 70 , one data p, as we go, the consumer what youre talking about the jobs and payroll, that would be more important as we go along. Maria look at the reaction, we have been talking about manufacturing weakening for a little while, dagen, but the market was sizable de ....
With us and brew Group Investment banker and nfl star jack brewer great to see you this morning. Thank you so much for swroining us here we are looking at futures which are lower this morning going into another week. This is an important week because were going to begin Third Quarter earnings give us a window into the economy and corporates dow and s p 500 trying to snap a threeweek losing streak, with all eye on the china trade meetings this week on thursday. The two sides expected to resume the negotiation thursday. Beijing reportedly ready to talk about a narrow focus deal. Narrower than weve been talking about with full scale reform of stroll sector off the table whats your deal given the fact that president has been adamant about industrial issues and the behavior of china particularly with the intellectual property . Market clearsly not liking it maria. I mean listen t ....
You guys know better that not nasdaq indicated down and s p anyone doing a secondary in your ipo is unparalleled. Down by one. That is a testament to the investors we brought into the down was down by 180 points ipo that believedin us again we did that a month ago over the yesterday. Every move we see seems to be premium of the price trigger by the moves of these the larger conversation being had about investors i think trade talks. There is a difference here lets look at the treasury this is why i think this is succeeding a, not only are you nailing the market the 10year looks likes it numbers, but, b, because you are yielding 1. 592 . Only for five years and you had to take in crazy amounts of 30year about 2. 1 money prior, right dont you think thats a huge part of this i do. I think we had very strong investors previously when we were a private company in todays environment, if we twoyear trading at 1. 462 needed them to do a 100 insider one New York , United States , Hong Kong , District Of Columbia , New Yorker , Yao Ming , Robert Kaplan , Scott Walker , Joe Tsai , Tom Hanks , Elizabeth Warren , Steve Leishman , Andrew Ross , Lebron James , Steve Kerr , Jeff Lewis , Eunice Yoon , Goldman Sach , Ted Cruz , Earnings Report , Delta Airlines , Bastian Delta , Eastern Time , Side Story , Balance Team , Apple App ,
Good morning, everybody, big show this morning, joining the conversation capitalist founder jonathan honan is here, benchmark managing partner kevin kelly, great to see everybody. Thank you. Maria breaking news of the morning, Uk Supreme Court delivering blow to Prime MinisterBoris Johnson, Supreme Court ruling suspending parliament was unlawful, thats opening the door to more pushback on his plans to take britain out of the European Union, your reaction, kevin. Yeah, this is fascinating, he was actually going for a Nodeal Brexit by october 31st because the European Union hasnt really been working wit ....