Im Brian Sullivan its going to be a very busy day for the markets and your money the market still digesting and reacting to the news that President Trump will slap another 10 tariff on the remaining 300 billion in chinamade goods not already subject to taxes that goes into effect september 1st. Its also the first friday of the month, that means its the monthly jobs report day, which, if its very weak, could press the fed to maybe cut rates again in september thats if that number comes in soft the dow losing 280 points yesterday. It looks like we could lose more dow futures are down just under 100 points we walked in the door about an hour ago, they were down about 50 we are losing steam. Its still early anything can change. Do keep in mind context is key the s p 500 is still up 17 this year. The nasdaq 100 still up 23 . So the markets have absorbed this fairly well, but the markets not liking that new news on tariffs one index that youll see only on cnbc, that is important to Pay Atten
Taking to twitter to slam the currency and Facebooks Libra in the process and the president is not alone. The billionaire investor mark cuban citing with trump calling Facebooks Libra a big mistake its friday july 12th and Worldwide Exchange begins right now. This is a live shot right here on your screen. Tropical storm barry hovering off the coast of new orleans the city has already seen record rainfall in recent weeks and the storm could make landfall as soon as saturday well have the latest coming up. This is a serious threat but first lets take a look at whats going on in the markets 27,000 and beyond. Get your rally caps a record rally underway on wall street. The dow closing above that milestone 27,000 for the First Time Ever. Taking a look at futures right now, dow jones is poised to open by 85 points higher and the nasdaq indicating a higher open by 23 points take a look at the bond market of course we watch this very closely also as a proxy for what the market is thinking abou
Amid heightened u. S. Iranian tensions. We have gasoline futures jumping this after an explosion and major fire at philadelphia area refinery. It is, by the way, the largest facility on the east coast. And slack soaring debut, shares poised to rally at the open but for other tech unicorns eyeing the public markets, is this a sign of peak ipo . Stocks are set to open lower after a record close for the s p. Multiple reports now say the president did approve military strikes against iran as retaliation for downing of a u. S. Drone and later backed off. S p still on pace for the best june since 1955. The nasdaq leading the major indices this month up a percent jim, how much further are people willing to go on the risk curve given the activity today i think were getting too close to the g20. I think that yesterday was a day where there was a frenzy of froth and euphoria i havent seen in a long time. A lot of stocks up 7, 8, 9 points and nothing had happened. I think were all starting to rea
S p 500 hitting record levels. Were about ten points below our intraday high. Trying to close at a record high for the first time in more than eight months all three avrnls on track for a Third Straight week of gains we begin this hour in washington President Trump explaining why he called off a strike against iran just minutes before it was scheduled. Eamon javers has the latest from the white house. Thats right. The president sat down with chuck here and went through his thinking last night as he contemplated the idea of issue ing the order to begin this attack on iran heres what he said. I said how many people are going to be killed sir, id like to get back to you on that. Great people, these generals came back, said sir. Approximately 150. And i thought about it for a second they shot down an unmanneded drone, plane, b whatever you want to call it, and here we are sitting with 150 dead people that would have taken place probably within a half an hour after i said go aahead and i di
Time hour. Came out 20 minutes earlier than anticipated. It showed no clear sign of whether the fed would hike rates in september. We have Steve Liesman standing by to break down that data for us coming up. You know, i was going to say, these are two sides of the same coin in a way. Speaking of breaking down, take a look at oil, its down more than 4 today, its trading below 41 a barrel. Were watching to see if it punches through that 40 mark. Look how close it is right now. 40. 62. And the september wti contract, down almost 5 on the session. Again, were looking at lows since march of 2009. Weve got a top commodities trader to discuss whether a floor is in sight. And, of course, all of this feeds into what will the fed do . What is inflation going to do in this country . Always interrelated. Thats for sure. Meantime, 1 trillion, thats how much money has come out of emerging markets over the last 13 months. Were going to discuss whether you should be following that herd or maybe take a