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S p 500 higher. Groups leading gains include stayathome stocks, consumer services. Oil after inventory close to 41 per barrel, big drawdown way more than anticipated. The 10 year yield up. The dollar index continues to weaken. Plenty of strength in euro. We will talk Canadian Dollar in 10 of 1 after the decision from the central bank. Ministers agreed to boost oil output. This will be offset by members that did not fulfill commitments in june, such as iraq and nigeria. The saudi minister sees a ceiling. Ellen, this was the deal agreed to by members. Will that have any impact on members for those countries so dependent on china . Ellen that is a huge question. According to the saudi oil minister, not a single barrel will be exported extra in august compared to july. He perceives saudi arabia will consume extra barrels produced domestically and while the price people in saudi arabia pay for oil cost has gone up recently, it is not ....
The American Economy slowing, but not as bad as expected will it affect the feds next move and have stocks already priced in a friendly fed plus a big upgrade on the big banks, buffett making a play too. Is it time to get bullish on the financials the Halftime Report starts right now. It is good to have you with us on this friday. Not as hot a friday as it was last weekend our Investment Committee today, joe, stephanie, zarod, josh brown and ron. I havent this many friends around me in a long, long time. Since high school thats good. Yeah. The s p 500 record highs nasdaq and nasdaq 100 hitting new alltime highs as well with the fang trade front and center. Lets start with amazon versus alphabet who wants to talk alphabet sure. Go. I mean, i own it. It was a very good quarter i think that google sites growing 21 ....
Event, and thanks sponsoring, i should say, and thanks to all the folks at urban who helped to put this on. As you can imagine, an event of this size is neither inexpensive nor easy to pull off, so thanks, everybody, for the help. Tonight well have two panels that will run until roughly 7 45 and then well have another reception until about 8 15, plus or minus. Ill say a few words to sort of tie the thinking behind the two panels together, and then well wade right in to the first panel. But again, thank you guys for coming, for braving the heat and the 5 00 traffic. This is a fun way to kick off the urban space. I will note that the picture behind the title is unintentionally ironic. We say administrative reform. We mean that which can be done without the help of the building behind it, so keep that in mind as you hear us. So for the last 10 years of debate over Housing Finance reform, much of the focus has been on how to reduce t ....
It wasnt done tightening. Then we had some banks collapse in march. Then we stopped worried about the fed because we figured the economy had it. That led to a wholesale shift into tech. A multimonth run into tech, especially the magnificent seven. So the consumer situation coming together now after weeks upon weeks of pain . That may be what we saw today. The nasdaq jumping 1. 35 . It was a total shakeoff of the endless selling. It didnt happen until later in the afternoon. It is hard to believe the system can repeat itself, i have to say the setup is very similar, even if the starting point is different. We had a replay from march where recession from demand destruction overwhelmed those by inflation or spiral growth that seemed impervious to all the fed rate hikes. Maybe it is the start of something bigger. Hey. Come on. After what we have been through, a few hours of larger prices looms larger than it should. To give you some connect here, lets rewind to spring. We had the collapse ....