10 in its debut, valued at 1. 9 trillion the largest listed company in the world. Plus, the fed and a trade waiting game stocks poised for a muted open as investors seek further tea leaves on trade and the fate of monopolies arent bad if they are not abused tim cook coming to the defense of business but said apple isnt one. Saudi aramco strong public debut. Shares jumpedon the open, the maximum 10 on the Stock Exchange in riyadh limit up. The state owned oil giant is the worlds most valuable company list at 1. 9 trillion, thats about 6 exxons and above apple which has a market cap of almost 1. 2 trillion. Well placed deal. A lot of people in saudi arabia decided to buy this stock. And that boosted it. I think sometimes you get deals and they pretty much determine where it is going to be. So now the question is, yield. And whether the yield exceeds what mike worth is offering on chevron. I think it will. I dont think it makes people suddenly all excited about the oil stocks, but it does
Hi, neil. We heard from jay powell earlier today. He reacted for the first time about the headlines that came out of the white house yesterday in which the white house early they are year looked into the possibility of potentially demoting the fed chair. Yesterday the white house didnt deny that they looked into that earlier this year. When President Trump was asked whether or not he wants to demote powell, he responded in part by saying, well, lets see what he does. The fed did not cut rates today. At his press conference this afternoon, powell suggested that he feels very safe in his current role. I think the law is clear that i have a fouryear term. I fully intend to serve it. In the lead up to the latest fed meeting, the president continued his attacks on powell and the fed for not cutting rates. The fed said one rate cut is to happen between now and the next election by the end of next year. The futures market is pricing in a 100 probability that a cut occurs next month. Powell as
DoubleLine Capital’s Jeffery Gundlach discussed his worries on the US Treasury yield curve de-inverting quickly. The decreasing differences have repercussions for the economy.
Gundlach warned that the de-inversion is a recession warning, not a recession .