Sarah. Good morning, guys. Well this was the first time we were hearing from the core of the fed. The inner circle for janet yellen, vice chairman Stanley Fisher on his reaction to the brexit so i had to start with what he was thinking when he found out the referendum results about a week ago. Listen. I saw them at 2 30 in the morning in europe and i decided i better go back to sleep because it didnt look that good. It didnt look any better when i woke up a bit later. And first reaction was surprise but extreme surprise. Does it change the u. S. Economic outlook . Well, were going to have to wait and see. It clearly is a huge event for the u. K. And its an important event for europe. Our direct trade with with britain is not going to make a huge difference to us but it could set off, theres a lot of things that will follow for brexit and europe and the united kingdom. Those are things we have to be thinking about. What are you worried about specifically . How quickly does the british e
News of a fatal car crash. Phil lebeau will join usins moments with all the deal on that and the International Monetary fund says its identified the most dangerous stock in the world. Well tell you what that one is and what has traders so they are vows. First, well start with another Third Straight day of gains. Dow ending higher by 235 points and the s p gained more than 1 on the day, but we were looking at the internals, and its pretty curious. Its defense thats leading the way, like telecom and utilities and staples. They are trading like Growth Stocks, so whats with that, guy adalai lama, what do you think . First of all, sue, thanks for filling in, yeomans work and great effort by you. Ive got to tell you, that melissa lee, dove clock. I used to have to run for blocks to get down to the New York Stock Exchange when traffic is back and the poor thing has been sitting there like sweating. She will be here in a second. The irony, sue, is last night i slipped on to the set about 20 se
Thats the catalyst. Seems to be. This is fed fear front and center. Yes. I am very calmly panicking, scott, which i think is appropriate. No. Whats really going on, biggest decline for the tft going back to 2015. Not big. Less than 3 . Could be worse. Last night on the double line call probably were as widely heard and reported what he said, those who might have missed it. Im going to quote. Interest rates bottomed ebott. May not rightness near term as ive talked about for years, i think its the beginning of something and youre supposed to be defensive. Fine. You see this, people start to freak out or calling a growth scare, i find adorable. The reits will catch a cold. Utilities catch a cold. Thats a big area in the market. What happens if the overall market catch as cold . Tony dwyer suggested a correction. Could be 5 percent pr . I hope that happens. Let me finish my thought. Go back to prebrexit, june 2nd to fi june 22nd. You need fear in the market to work to the upside in the int
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