Maybe you dont care but you do care about the american economy. And boeings news impact us all. We tell you whip process then apple hitting the alltime high today, three analyst have three different takes on the same stock. Well find out who the traders believe is right all that as we begin with an earning alert on fedex not good. Fedex stock down again, missing on earnings and revenues lets get back to eric chemy at cnbc hq with more on the fedex flop. Thats right a disappointing quarter for fedex. Ceo fred smith acknowledged in the release that the fiscal 2020 is a yeerd of continued significant challenges and changes. The the company missed on top and bottom lines setting weak Global Economic cannibus, increased fedex ground costs, the loss of busy from amazon, shift to lower yielding services pb, no competitive pricing environment and late Holiday Shopping season. Looking ahead, the company reduces guidance to reflect lower than expected revenue and higher than expected expenses. F
Wake of his tweet about the china tariffs. The president said he wasnt worried about it he, in fact, expected it he said it is because people dont fully understand what his tariff strategy is in fact, the president here blaming the market for not understanding exactly what his approach is to tariffs and to china. He was also asked by me exactly why he picked 10 as opposed to 25 or 5 on the tafrs he tariffs here is what he had to say. I did more than anybody thought with the first 250 billion and the 10 is for a shortterm period, and then i can always do much more or i can do less, depending on what happens with respect to a deal but im very happy the way it is right now. So the president there saying that he could go up to above 25 if he felt that was necessary, but he said he doesnt see that as being necessary at this point. So that puts a lot of tension now on those negotiations between the u. S. Side and the chinese side here in washington in Early September the president was also a
Fed. David today is jobs day. Last night, july 4 celebrations, including in boston led by alix steel and carol massar. It does strike me as i talk to you over in europe that one of the really iconic moments is an overture written by a russian composer, tchaikovsky, about a european war in 1812. It is kind of ironic. Incidentally, i remember trying to play that. With all the cannons firing, very difficult. But i digress. Seeing the market may be not hoping for them many fireworks. Lets have a look at the data right now. S p futures pointing downward. European equity markets a little bit sluggish. The euro is a little weaker. German data came in disappointing. Yields on the u. S. 10 year around the 1. 96 level. Weve seen selling in stocks and bonds in the european morning. Ive put iron ore in the data check today, not oil, because we seem big drops in iron ore in the Asian Session once again. It has been dropping like a stone. Story ise iron ore really quite something this morning. It is
Policy rate more than five percentage points. Constant recession bets have come up. Recent months, and narrow market leadership has given way to a convincingly broad rally. That brings us to the talk of the take. Is this approachable time has a chance for investors to cash in, breakeven or confirmation that a young bull market has gathered steam into 2024 . Lets ask warren pies. It is great to have you here. How are you doing . Im good. Thank you for having me. Sure thing. The story for this year, we could have said it a year ago but it was, can inflation go down more quickly than the economy loses steam . That has happened to this point. We have seem to have seen a fed pivot rhetorically and if not in reality. Where does that leave you in terms of what we should expect at least in the first part of next year . I think that we try to be driven at the 314 research. The data points are in a bullish direction. It is hard to deny that at this point in time. You end up with a few broad axio
Sinking again. And we continue the week long special with the best ideas heading into q4. It is tuesday, september 26th, 2023 you are watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. We kickoff the day with the check of the futures the first winning session in five a clear change of direction here in the futures the dow set to open 125 points lower. The s p and nasdaq both down about. 50 in the premarket we are checking the bond market with the 10year treasury at the highest level since october of 2007 look right now at 4. 52 also the 2year treasury is 5. 12 you see it is elevated we are looking at the energy markets. Oil is giving back a bit look right now at wti crude below 90 a barrel down 1 this morning brent crude at 92. 28. Similar for the Natural Gas Market down 1 this as the dollar adds to impressive gains up 2. 7 this quarter alone and on pace for the best quarter since q3 of 2022 you can see the dollar up fractionall