Stay updated with breaking news from Kansas city fed. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Wall street Global Economy editor Jon Hilsenrath. Great to see you guys. We have a lot coming up. James carafano. Mohamed on the economy and markets, former pennsylvania governor on 2020 race and policy director Peter Navarro joins us talking trade, markets and the fed, dont miss a moment of it, big 3 hours, markets have a firmer tone, mix trading dayiest, we are waiting on crucial speech this morning from Federal Reserve jay powell, the central bank chief addressing commentary policy and future rate cuts, we have Jon Hilsenrath to tell us what youre expecting, jon. Jon itll be hard for powell to go on a limb, theres a lot of Division Within the fed itsel ....
Cant believe we didnt tell him it wasnt for sale. I cant believe this is even a conversation. David when this first came out, every one thought it was a joke. Hes just getting hes just kidding. And then maybe not so much of a joke. Alix do we know why he wants greenland . David because the arctic, particularly because of climate change, has become much more important. There are really Strategic Interests in greenland. In fact, president truman tried to buy it in 1948 for similar reasons. You invited meis to my house, im not coming unless you sell me something. Alix in the market, we had retail earnings coming out. We get a nice rally underway here. Eurodollar is flat. It is a mostly weaker dollar story in the g10 space. Selling in the bond market with the exception of italy. Inflation expectations continue to rollover. No one taking any big positions headed into jackson hole. The question is how you hedge this. David time now ....
Karen lee, as well as in france, maria tadeo, and in jackson, karen hole, wyoming, Michael Mckee. First, we want to start in asia. China willorts that soon unveil retaliatory tariffs. Karen . Reporter based on what we know, china will take further retaliatory measures on billions of dollars of chinese goods measures in retaliation to tariffs on billions of dollars of chinese goods. At the same time, we have unrest in hong kong. We will be looking to see what those tariffs are. No details were revealed. Alix and hong kong, political turmoil potentially triggering a world recession. That was the conversation yesterday at jackson hole. These are not segmented regional effects. These have really global consequences. Pointould be a tipping that could trigger a very significant global slowdown, even a recession. Alix what is the talk over there . Thats Harvard University economi ....
Heres the jargon, the yield curve inversion. This is fed day and a very big day. In advance of the official word on rates, stocks have been all over the place this morning, up and down, moment to moment. Right now we are looking like a loss of maybe 112 points for the dow and down 45 on the nasdaq. This is whats hitting the market, china. China says it will impose 5 to 10 tariffs on 75 billion worth of u. S. Goods. That is obviously a negative for china trade. Its escalation and therefore, bad for the market. Elsewhere, later today, the president leaves for france for the g7 summit. Interest rates and trade will surely come up there. They are gearing up for more big protests in hong kong. Were on it. And just wait until you hear what larry kudlow says about tax cuts. Lets get going. Varney company is about to begin. Weve negotiated with them, weve tried to move the football. They have backed away and we have taken measures through all of that time, weve had a very strong economy, weve ....
Saying the u. S. Is winning the trade war with china, but the u. S. Deficit is set to balloon. Toeing Warns Companies to the line if they want access to the mainland economy. Get you started with a quick check of how markets closed the window session. Stocks were higher. They pared back some earlier gains. The s p 500 ended. 8 higher with every sector on the s p 500 and the green. Retailers were also hired. Today, we saw the bloomberg retail index at a threeweek high as we saw some positive s and target, lowe not to mention we saw that rally after we saw home depots stronger second half. That theyes signaling were ready to ease but not really hinting that this july rate cut was the start of an easing cycle, so twoyear treasury yields rallied. Treasury yields unchanged at the moment, so lets see where we are starting out the asian session. Sophie we are setting up for potentially positive gains with more earnings on tap for the re ....