Roll out some responses to Chinas Hong Kong law as the showdown with twitter gets escalated around the minneapolis protests oil near 33, the focus is squarely on twitter and this rule violation that the president s account got slapped with, and then the white house account, the official white house account retweets were all kind of confused, as marc benioff, who is against this obscure regulation that gives these companies an exception todo this, many are confused it seems President Trump wants to create his own enemy with if you start regulating these Companies Rather than having the exception, theyre always going to have to put a counter to what President Trump wants. I think what he may not understand is free speech is nasty. What he had until this was a great run of things. Its going to make it tough for him to be aggressive on twitter. He doesnt have press conferences that work because of all the displeasure he had with regular reporters. Hes disintermediating himself from the pub
Which is how you get to the dow today where it lost 129 points, 5. 3 of the nasdaq nose dive 1 . But the first two weeks of earnings season things were pretty straightforward sure this economy might be slowing down, but the consumer was doing so great backed by a strong job market, higher stock prices and i have to tell you, it was offsetting any industrial weakness hallelujah. This week its a totally different story. The markets no longer on its meds while twothirds of our economy is consumer oriented indeed, the other third has gotten so bad so fast its crying out for some kind of government intervention. Thats what caused todays weakness because the nonconsumer economy is plain worrisome. Tonight were speaking to electric power thats the largest Transmission Power Company in the whole country. If youre trying to get a read on the economy, theres Nothing Better than getting the power datd a it took my breath away when they said the biggest economic head wind we have at this point is
Ticketmaster forced to face the mu music. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, karen finerman, steve grasso and julie biel. The do s p 500 and nasdaq pulling back after hitting record levels in the session that even as nvidia soared more than 9 on the back of an Earnings Report that few could find fault with. So, why werent the big numbers from the third biggest stock in the u. S. Enough to boost the rest of the market maybe ironically, Even Stronger numbers on the economy a better than expected read on pmi sent probabilities of september rate cut from nearly 58 yesterday to even money right now. Are markets now all about the fed once again tim, what happened today i think the fed is the most important dynamic in the market, but i do think you have a case here where that pmi, that composite pmi, the services component, 54. 8, last number was around 51, were starting to see the services weaken a bit. This was a very solid number
At one point the dow was actually up triple digits. The closing numbers, the Dow Jones Industrials Dow Jones Industrials added 56 points to 20,663. The nasdaq rose 43. And the s p 500 was up eight. Bob pisani spent the day at the New York Stock Exchange figuring out why stoc [ bell ringing ] reporter yesterdays selloff was a oneday event, at least so far. Traders had been nervous going into the open because yesterday a lot of big institutional traders were selling stocks. The concern was that the big players would continue to sell today. That did not happen. Wall street strategists also do not appear ruffled by the wild ride yesterday. None of them were taking future stock gains, at least not yet. Jpmorgan told clients they were still raising earnings estimates because corporate guidance has really been strong. Elsewhere, an accident in times square in the middle of the day that caused the death of one pedestrian caught the attention of traders. But it does appear to be an accident and
Good morning. Welcome to Worldwide Exchange on cnbc. Im sara eisen. Im wilfred frost. Good morning to you from me as well. Lets check in on the Global Market action. Yesterday we saw declines. The dow was the outperformer, down just 0. 2 , compared to a close to a half percent of declines for the s p and the nasdaq. More like a third of a decline in those names. Oil prices were on the move and energy was the worst sector, followed by materials. You can see we are expected to bounce back today. The called higher by 60 points, s p 500 by 8, nasdaq by 13 points. All eyes on what the fed does today. All eyes on the bond markets. Weve been around the 2. 6 level on the tenyear note. We were above it yesterday, below it today. 2. 59 on the ten year. The twoyear and the shorter end of the curve have been moving up ahead of this 25 basis point, but at the tenyear, hovering around the 2. 6 level. A revised reading showing japans Industrial Production down 0. 4 for the previous mouth. And south k