A bad word was found, not even. Tw investors allatched the market with care in the hopes that st. Nicholas s would be there. Alas, there was no rally, bri its all t. Because compared to last year, calm was ame wel sight. Apologize to Clement Clark moore, but investors might well had been relieved tre wasnt the same turmoil we saw last Christmas Eve when the dow fell more than650 points and the s p briefly entered bear market it tey. Today in our holiday shortened session, the dow fell just 36 points. Nasdaq climbed another seven to close at its ninth straight record. Thats the first time thats happened since 1998. The s p 500 was off. What a difrence a year makes. Reporter this time last year, the dow was closing on the what made the difference . A combination of four factors, the fed cut rates and added liquidity to the market. Economic data has been strong to indicate no recession. Third, hopes for a truce on the tariff and trade wars and the Global Economy may be botts ing. Is up 28
Hey, edward. Reporter we do have some reduction in tariffs so 25 on 250 billion worth of tariffs and then 7. 5 on 120 billion worth of tariffs and those december 15 tariffs do not go forward. The president just speaking about this china trade deal saying that hes using those tariffs as negotiating points for the phase ii agreement to make sure china still comes to the table and the phase ii talks china wanted them to start immediately. The man who led the negotiating team here, u. S. Trade representative Robert Lighthizer released this statement today. He says, President Trump is focused on concluding a phase i agreement that achieves meaningful, fullyenforceable structural changes and begins rebalancing the u. S. China trade relationship. The chinese say that the phase i deal is in nine chapters, and those chapters include these are some of the big points here, protections for intellectual property, ending the forced transfer of technology, expanding access to financial markets, buyin
Street, which he must avoid a damaging no deal divorce at all costs. Shery later in Bloomberg Technology global link, we will talk about the Justice Department investigation into whether big tech has been stifling competition. First, thats get you started with a quick check of how the markets closed tuesday session in the u. S. The s p 500 closed at the highest level in more than a week, up 7 10 of 1 . Rising for a second consecutive session. We have some strong earnings coming from the likes of cocacola, united technologies. Not to mention lockheed martin. We also had Investor Confidence that a deal would be struck when it comes to suspending the u. S. Debt ceiling. In the afternoon session, we got news that ambassador lighthizer could be going to china next week for the first highlevel trade negotiations since may so that really spurred Investor Confidence. The dow gaining 7 10 of 1 . Almost every sector in the green in the s p 500 and hit higher by industrials and materials. The nas
The god of [laughter] stocks. And right now were looking at the kind of session, charles, where we need to start with the intraday charts because weve already seen this mornings pretty powerful rally lose some momentum, but that actual could actually could change. Im watching a monitor right now because philly fed president patrick hard kerr who earlier this week said the fed could afford to end its tightening cycle is about to start a fed webinar on jobs and employment at any moment. As we monitor his comments and any marketmoving messages he may give, lets show you those intradays. At the open you see the dow spiked 455 points powered by the july consumer inflation data which showed that for the 13th month in a row the pace of rising prices slowed. Right now though the dow up 161 is. So weve kind of fritteredded away a lot of that. The blue chips along with the Broader Market still cant hold on to most of the gains. You can see the s p is up 12, high of the session a gain of 59 in pa
U. S. Equities will open higher 183 points higher. Nasdaq opening 107 points higher s p looking to open 25 points higher treasury yields sitting at 4. 011. The 2year treasury at 4. 79. We were down five of six days in the s p that is the case sdplchlt to see th z to see the markets showing the cp oi print. You think the mood is a mini bear i do totally. People are looking at this and the question is not a break in the trend, but how much of a break . Let me take cash off the table. I have been waiting so long. I dont mean the rally is over we were talking to different people 10 pullback would be healthy. Down 2 or 3 from the highs, yeah i thought it was tom lee who was talking about that 100point week now more choppy. I wonder if were in the chop. I think we might be. We have the key inflation data due at 8 30 a. M july cpi expected to rise. 20 on the month and 3. 3 for the headline for the year. We also have my personal favorite with jobless claims. Why is that your personal favorite