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Morning. I could go on and on, mike santoli, but when i have you on the program with me why would i bother i might as well send it over to you. Set us up for the action today, particularly given what weve seen there was that rotation earlier in the week, but it already feels like theyre coming back to growth. Rotated, with he unrotated, we will we will rerotate i do think its indicative of this market that has generally speaking hesitated right underneath the all time highs. We are all looking at that its fascinating as sara and i talked about last night on closing bell we would otherwise be saying, oh, its a quiet post earnings august period, markets in a nice uptrend, s p is up 3 month to date, its supposed to be a negative week, everything looks fine, markets maybe just pausing because its had a 50 run in 100 trading days, but because we are on the verge of that number it seems to gain outside significance in terms of people trying to figure out whether thats kind of an end point fo ....
Package. The merger between psa and fiat in a move that could force more concessions from the auto giants a new designated driver. Replacing the head of vw brands as the automaker battles with unions over cost cutting plans saudi arabia will no longer cut Additional Oil they say demand is thriving. With we have no whatsoever for lack all of us in the whole World Oil Market have no stomach whatsoever for any type of laxityies. A warm welcome to street signs. European markets have been open about an hour now. It has already been a choppy session. We open in positive territory. Now the main benchmark is down 0. 4 yesterday, the main benchmark dropped 0. 3 what was remarkable was the fact we saw the final recession word enter the mix. Declaring the United States has officially entered a recession just as the nasdaq hit a ne ....
Well tenyear yield up about 4. 08 a lot of that gain in the yields in the long end happened with a stronger than expected payrolls report we also had recent indications of higher oil prices, maybe some inflation concerns so a lot of things in the mix, of course, with along with the fitch downgrade of the u. S. Federal debt that all brings us to our talk of the tape, where we ask is this a routine shakeout in stock after the powerful monday bimonth rally, or the sign of a much tougher tape ahead . Here with us is josh brown josh, we can write it any way w like sentiment was frosty, technicals were stretched something will come along to maybe create an air pocket on the other hand we had a lot of bears capitulating, the economy looks strong, everybody agree with his that, so we have the makings of a perfect evenic top. Where along the spectrum would you set yourself wow, as someone who is really good at explaining what just happened, i would say that this is not this is not very much muc ....
There is some spec edition of when the speech was announced and publicized, Lael Brainard might later foundation for a rate hike in september. Does not appear she has done that. In the speech she gave and the q a to follow, she talked a lot about doing away with the old normal and looking to the new normal, sane policy must rely less on the old normal as a guidepost, noting that you have to be forwardlooking and acknowledge that inflation has undershot the fed target of 2 for 51 straight months, and also giving indication that she does not believe that the u. S. Economy is at full employment yet, saying perhaps there is more slack yet. A line that stood out to me is in the presence of uncertainty and accelerating inflationary pressures, it would be unwise for policy to foreclose on the possibility of further gains in the market. Vonnie entirely not what we would have anticipated but there were a lot of people speculative she turned ....
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