Bond yields at zero. Yen this morning, the nikkei higher by 17 points, hang seng higher by 212 and shanghai composite by 21. 5. There you go. Back here in the u. S. , deadly pipeline explosion yesterday in shelby, alabama. One person was killed and five others injured after part of the Colonial Pipeline burst. Colonial shut down its main pipeline after the incident. This is the second time in two months hit to close the pipeline which is a crucial supplier for the east coast. In an update late last night colonial said a track hoe, a machine used to remove dirt struck the pipeline and caused the gasoline to ignite. The october ism Manufacturing Index in september and Construction Spending are due out today 10 00 a. M. Eastern time. Automakers will report their sales throughout the morning but ford wont release its sales figures. Those numbers are delayed following a fire at fords dearborn, michigan headquarters yesterday. They are now expected later in the week. The fed begins a two day
Welcome to squawk alley. John forte is on assignment today. Lets get to the top story, the campaign trail. One week away from the president ial election. National polls are tightening as new reports question Donald Trumps financial past and putin and russia. And Hillary Clinton is in hot water with those new emails. John . Less than seven days to the election. Were getting close. Take a look at how close the race is getting in the polls. Average of National Polls by the New York Times, realclear politics and huffington post. Real clear 2. 5, New York Times down to 4. Huffington post 5. 6. Whats that mean for the electoral map . He has to take that lead that mitt romney had and build it up to 270. Battleground states all across the country. Theres a difference between some of those battleground states. Let me start with four. Now trump has a very good chance of winning. Florida, ohio. Weve also got nevada and iowa. All of those are states where donald trump has a good shot. However you
Seaberg, great to have you with us. Eric, riddle me this. What has changed and why today do we feel so great of a fed rate hike . I have no idea. I think, you know, were going to be in a cheap market here for the foreseeable future just because of all the uncertainty surrounding Interest Rates, Consumer Spending and Political Uncertainty here and in europe and while this frustrating sideways market may be difficult to navigate were still finding opportunities in the hodges small cap fund. Where . Were really looking at some areas such as some of the nonenergy companies that have been beat down over the last six months by oil prices, Something Like a Legacy Texas Bank share which is a bank that we think is very attractively valued here. The perception of Energy Exposure is not as great or the reality isnt as great as the perception in this stock and we think its created an opportunity for investors. Other areas that we like are areas tied to infrastructure spending, like Eagle Materials
Have hung in there and on a day like today, the dow only dipped 23 points. The nasdaq advanced 1. 4 . They get sloppy. So i want to give you some lessons in sloppiness to help you maintain your stock market table manners. Apple which was written off at 93. At the same time some chalter made its way around the floor of the stock market, netflix. Now long term viewers know that i urged apple to buy netflix because the earnings stream want so good. I watch all 90 netflix shows on my apple pro. Make life so easy for us. Wouldnt it . As for time warner, terrific. They would fit the Revenue Service stream i adore. Im talking about hbo. But if you at home bought either netflix or time warner when the stocks were running this morning, off the unfounded takeover rumors, you need to get your head checked and call timeout. Go get an ice cream. I mean really. Youve now done the textbook definition of sloppiness. Next example, trading off the price of oil every day. Ive been saying over and over ag
Preferences and the reauthorization of the importexport bank. Key to reforming our trade policies we believe is abolishing the outdated, unaccountable and undemocratic fast track process. The Transpacific Partnership, now being negotiated by our government, includes 12 countries and about 40 of the worlds g. D. P. And the t. P. P. Is designed to be infinitely expandable. So it could be the last trade agreement we negotiate so its especially crucial that we get the terms of this one right. And mr. Chairman, the idea that fast track lets congress set the standards and goals for t. P. P. Im not talking about other agreements but for t. P. P. , is an absolute fiction. The agreement has been under negotiation for more than five years and is essentially complete. So the instructions that you send them will have no affect whatsoever. Congress cannot set meaningful negotiating objectives if the administrations already negotiated most of the key provisions. I might also add, this will be the wo