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Well and apple. That event is just wrapping up now. Announcements shaking out in the stocks of different competitors. Were going to fill you in on all of that action but joining us for the hour is steve grasso from stuart frankel. Steve, great to see you. Good to see you its amazing. Not necessarily a major move for the averages today or right now. Everything is slightly lower and actually, if you look at the week, the dow is actually flat so far to start off the week and yet theres been this great rotation talk to us about that. The rotation is coming out of growth into value. How long does that last is how long the market will be under pressure and for now, it probably will last a little bit longer, but get a trade deal, throw everything i just said out the window and you see everything rally back people are making the analogy back to 09 and 2016, with this rotation that lasted for a couple of weeks. I dont think it will be that long do you really think were going to get a trade deal ....
We start in frankfurt, where all eyes are on the European Central bank, as it wraps up one of its most important meetings in years. Later today its expected to take action to try and boost the regions flagging economy. The rate of Economic Growth across the countries that share the euro has slumped to just 0. 2 in the three months tojune. The regions biggest economy germany may well already be in recession. Annual inflation, the rate prices are rising, has also slowed sharply, tojust1 injuly. Thats just half the ecbs target rate and the lowest since 2016. That has raised fears of a return to deflation, where prices actually fall. Its a big worry in europe where levels of debt have soared. Inflation means debts shrink over time, deflation has the opposite effect. So what action will the ecb take . Its likely to cut Interes ....
Yesterday. Today. Lls not deterred keep an eye on the bank stocks. We saw them significantly higher yesterday, getting a little bit about bid today despite a lot of the expectations for additional fed rate cuts. Definitely a big factor in what we are seeing in the markets on the u. S. Side. Guy thank you. Front and center in europe today, stoxx 600 up. The banks execs is up. Theres a whole lot of factors. We have seen the ecb and the market with another trove being kicked out. Extra liquidity going into the Banking Sector of the ecb. The takeup was not as big as anticipated. Yet the general rate policy story that is a factor as well. All of that contributing to a big bout of european banks, peripherally particularly peripheral banks. The other story is Credit Suisse will be charging rick clients to have a bank account, rich client staff a bank account, basically. More stories ....
Gaining speed. A live report for that region next. Later commemorating the street that may have saved americas favorite past time its your rbi and its actually baseball related its all on this friday september 6th as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from where ever in the world you may be watching. Happy friday thanks for being with us we start with morning from breaking news out of europe. The latest gdp numbers in the Second Quarter thats right for you certainly the focus has been on politics the last couple of weeks but lets not also forget about the data its now been confirmed at. 2 on an annualized basis a significant slow down from the First Quarter which is. 4 quarter on quarter and 1. 3 on an annualized basis. The devil is in the detail theres two main ....
Wednesday. It started with a trio of Central Banksnt cuttingest rates, and that led to a sharp drop in ghnd yields, ghting the concern over trade tensions between the u. S. And china. At, in turn, led to a flight to safety. Investors piled into things like government bonds and gold. In fact, gold traded above 1,500 dollars an ounce for the first time in six years. Stocks sold off. The dow down nearlynt 600 p early on. Oil also sold off, falling more than 4 . T then the buyerstepped in and stocks reversed course. The dow finished down only 22 points to 26,007. The nasdaq rode 29 and the s p climbed 2. The indexes 2 reversal was its biggest comeback of 2019. Bob pisani has more. Reporter it was another wild day on wall street, the dow plunging almost 600 pointsly ear on before rebounding to end f essentiallt on the day. It was one of the great comebacks of the year. Mounting trade tensi heightened fears of a possible global recession ....