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Day. Did chairman jay powell thread the needle. Thread the needle lets put it this way. When he opened the door to another round of quantitative dsh another round of getting the Balance Sheet back up to where it was, to me that was the reason why the market, the dow went down 170 to base cheh unchanged on the day in that regard maybe he said what the market needed to hear in terms of myself, you know, sometimes you have to be you have to be confident in views. But there is a fine line between confident and dog mattic ive been bearish month and a half two months. But when you see price action like monday where i thought the market would be down at least 300 dow 35, 40 s p handles down 10 you have to sat some point say the market seems to want to go higher grasso. The only concerning issue is what guy said, the Balance Sheet. Thats concerning. And the but if you were in the camp ....
On this afternoon. In asia, the nikkei was down the hang seng was up 0. 23 for european markets, the dax is slightly lower you see slight gains for the cac, the ftse 100, stocks in italy and in spain look at the Treasury Department. The tenyear is yielding 2. 090 . We have a very busy day going on in the markets. From wall street to washington, lets get you through the squawk planner. On the earnings front, three big banks on the docket starting with jpmorgan that will come at about 6 45 a. M we have Goldman Sachs coming in with its earnings. Those should be announced around 7 30 wells fargo earnings should cross the tape at 8 00 a. M Johnson Johnson will also report at 6 50 a. M. Eastern time well bring you a first on cnbc interview with the cfo right after that report. On the data front, we will be getting june re ....
3 after demand for the second half of the year is improving. Thats all investors needed to hear today check out the moves. Micron, best day in three years. Amd, all soaring, are they giving the market an all clear sign, guy . Welcome back, scott. Thank you, guy. We missed you last time we had brian we have you back. What would the show be like without that greeting. I dont think it gives the market the all clear the micron numbers were better than the street was anticipating b on revenue, steve knows this, 64 of the companys revenue down 45 year over year. So youre saying how does the stock rally off of that because this time last year, it was a 62 stock. It becomes a math problem. The rally today makes sense. We discussed it last night, but to think you have the all clear based on this, i think is foolish. I think youre having a relief rally, analysts will catch up. I think theres going to be another leg down over the next couple of weeks. The guy says youre way off the highs for name ....
Are piling up, folks. The number unissue is trust, or should i say lack of trust in a system that never fails to let down regular folks as it bails out the establishment t doesnt patter by the way which Political Party is in power. I will break it down during the show. The wrath of a. I. Is only the beginning. We see jobs and businesses overnight in the crosshairs and maybe humankind. Is it too late to ring fence this threat or is it much ado about nothing . I have an allstar roster of folks to help handicap the feds decision tomorrow. It means everything for your port he will. Economic house from main street, jay powell never hears from my takeaway. That and so much more on making money. Charles all right. So todays session is a reflection of fear, anger and disgust, right . Fear, the economy is a lot weaker than anyone in the fed circles will admit like jay powell. Therefore it means that probably will get a whole lot more tenu ....
Sectors and the negative. U. S. Futures also lower right now. S p 500 closed down through off session lows. Finance chairs also finance shares also down. This follows the Central Banks move to hold policy rates steady with officials trying to work out whether the stimulus they have is working. We have yields being up as well, 5. 09 for the twoyear, the 10 year 4. 36 . And oil having a bit of a breather, brent crude down 1 to 93 a barrel. Wti at 90. Going back to what we were hearing from the minister of finance out of china, the National Development and reform, this is what they have been saying. Talking about the economy, the cpi, to rebound, the country is not facing deflation and has not had deflation. The chinese economy is continuing its recovery in august, a curious statement here about the economic recovery being a treacherous one. But also saying that economic po ....