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Certain tariffs. Not just a trade deal, but actually removing some of the economi existing tariffs earnings continue to lead us higher just a bit. We have names like kroger and tapestry, the old coach beating expectations joining us for the entire hour is a man you know well, steven weiss from Short Hills Capital partners steven, good to see you down here at the New York Stock Exchange good to see you brian good to see us both heres the thing, earnings, trade, maybe just general positive market sentiment. One of those three or maybe something else, that has been the primary driver for what has been a nice little run we are up nine of the past eleven sessions on the s p 500 i think there are multiple drivers to the market. Trade being the most important and the most dominant. You can see the correlation. For those who say that trade is all in the market, thats cl ....
The close even though it had been there intraday. Beenrange chart we have looking at for months, weeks, it is starting to turn bullish. The range between roughly 2600 and 2800, all back to the since the rally stalled, we have been stuck 3000. To between 2300 and note the higher lows. Theof them put in just over next few weeks or so. The rising moving average tells you that the trend is up. The longterm bulls are supporting the market. Making alike it is break to the upside. Should this work, we could see the s p 500 climbed toward maybe even 3200. Again, this chart is starting to turn bullish, maybe suggesting that the earnings season will remain positive. For me continue to be on the chipmakers. You have seen some relative outperformance recently. Closing up about 2. 2 percent. A lot of Underlying Companies driving this. An 11 monthng high. Other Companies Like intel, ....
Bloomberg. You mentioned housing and todays gdp data when you look at that, do you believe that you have achieved a soft landing or are achieving a soft landing in the sense that removing to trend growth the rest of the year and next year that is our outlook overall, is for moderate growth of around 2 , pretty close to trend. Thats our outlook could be better. Could be worse you know, you never say youve achieved it. But thats our outlook we feel like our current stance of policy is appropriate as long as that remains broadly our outloo outlook. Donna borak with cnn. Chair powell, setting aside expectations for todays rate cut, obviously 97 sort of expected this would happen today, can you tell us more about the rationale behind moving at this particular meeting as opposed to waiting six weeks and cutting in december and if there was any discussion about that around the table . Thanks. Yeah. I think this seems to be the right movement you can see we had our usual range of prospects, ra ....
Economy. Well be looking for things affecting the outlook of the u. S. Economy, particularly as it relates to zblrchlts all those things in principle can affect the achievement of our goals its an unusual situation because you know the u. S. Economy itself, the largest part of it, the consumer part of it, is in strong shape the manufacturing part, less so. Overall you see an economy that generally forecast shows growth similar to our own forecast coming in at about 2 . Significant risks to that outlook from not just the geopolitical events but slowing Global Growth. Well be looking at all of that and also Financial Market conditions and how they are affecting the outlook. I cant it is a challenging time i admit it were not on a preset course well be making decisions meeting by meeting as we see this and well try to be as trance parent as we can, as we go. Sparent as we can, ....
Half a dozen fed officials speaking today as the growing rate debate simmers. Speaking of the fed, two perfect guests, both officials who served on the fom, Sarah Bloom Raskin, coming up before the close today. Joining us final hour of trade, josh, nice to see you. Happy to be back, sara. 212 point rally here. Are you buying into it i think whats interesting, the answer is yes. I think whats interesting weve done nothing, given headlines, back to early august, essentially flat im not suggesting thats a bad thing. In fact, bulls would say look how much is thrown at the market in the form of tweets and deals and nondeals and fed volatility. In the meantime, yields havent even stabilized. Yet were still hanging in at these levels i think whats important, give the edge to the bulls. Weve been testing resistance in this range the upper side of this range, more than weve been testing support. So slight edge to the bulls. You look at ....