States the person behind that report will be here and later, carson clock. Right now carson will join us to fight back you dont want to miss it. Power lunch starts right now lets get straight down to more on what we know about the phase one deal and what we are still trying to figure out what we know is its an 86 page deal in a leather bound book outlining principals on intellectual property and currency by which both countries will abide china will be purchasing 200 billion in u. S. Goods includin up to 50 billion in agriculture goods. It will be no new tariffs so long as the two sides are abidesing by the agreement and continuing negotiations. No additional tariff roll backs are scheduled beyond the september 2019 round that President Trump announced by tweet today. Ambassador Bob Lighthizer told reporters he expects some ministe ministers, not the leaders, to sign the deal in january in washington the deal will take effect 30 days after that. I asked what happened over the last two
Exclusive interview with jay clayton. Power lunch starts right now weve got the market flat on this day but its been a whip saw getting there. This chart shows the swings weve had on one trade headline after another early this morning. Right now the major indices remain mixed were seeing green here and there but mostly flat. Shares of netflix, the stock down 2 after needham says its sale as the streaming wars heat up well have more on that move just a little bit later. Tyler. Markets not getting a boost from the seemingly positive trade headlines today. A deal on the usmca and more time for a deal with china we have the latest House Democrats announcing they reached a deal op a new nafta. Regular compliance and removing certain protections for brand name drugs against generics. The deal will have out sized impact on the auto and pharmaceutical industries. If you look at jobs and nashlg Safe National safety, its time to vote for the bill. The u. S. Able to show progress on this bodes we
Position as we head until then until the end of the year. Correlations breaking down as we continue to see the Broader Market gain. The dow and s p, because they closed at records yesterday, gaining again. That means they are records once again in todays session. Lets take a look at the various components of the s p 500 to get a better picture of what is going on. We have Information Technology here it down, free from the bottom. That is one of the reasons the nasdaq is lacking. Telecom, financials, real estate are gaining. It isnot as clear not as though cyclical are lacking and defensives are gaining or vice a versa. It seems as though it is sector and stocks. Utilities are up, declining the most in the s p 500. You will get into that later in our sector spider report to one group we are seeing clear movement is within the mall owners. Moll real state investor trust. That is because we have a deal announced. European mall company has struck a deal to buy westfield, based in australia
Plan to adapt. Vonnie we have had interesting trading this friday. Julie hyman is with us. Quadrupleis socalled witching that can cause some level of volatility. It usually causes surges of volume at the open and close. We have index rebalancing which can cause some of the same effects. Already on the s p 500, more than 50 above the 20day average as the dow and s p push towards records on the closing basis. I will have to check my numbers to see if it is on an intraday basis as well. On the tax bill, marco rubio according to fox was a yes. Then an aide said he was a no. We are reporting some of the concessions he pushed for appear to be making their way into the bill having to do with the child tax credit. That spurred stock market highs of the day. Board, see across the despite a subsector of industrials, we are seeing gains today. Health care and telecom are leading the pack. Everything is trading higher on a sector wide basis. If you look at the tax proxy, it has been an interesting
Stocks as well. Were going to dig deep sbeer the pullback throughout the next hour here. Tesla shares were also getting hit on the back of reports of a suspension problem. Now, the automaker is vigorously defending itself in a statement. Well bring you all the latest details coming up. Meanwhile next week apples Worldwide Development conference getting under way. It could bring an interesting announcement in an area youre interested in. Ipayments. I think you invented that word. Is that it . Ipayments . I made something up . Wow. I have no idea. But we will find out from our josh lipton what they might have up their sleeve. Lets start with the broader market. Yield collapse strengthened. The tenyear yields in germany, japan, and switzerland all hitting record lows. Just stunning. And the tenyear yield here in the u. S. Continues to drop falling to its lowest level since february. This yield crush around the globe all happening at the same time the s p had been climbing back toward allt