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Chips inhouse. The dollar continues to weaken. 38. 0 two. Lets get a deeper dive into market action. I want to pick it up with the tech strength. We are seeing a number of heavyweights higher. Leadn, facebook helping to the nasdaq into positive territory. Up around 3 . Tech stocks getting another bid here as we see a rally stalling out encyclical areas. To noterally, i want how far and fast we have come. If we look at Global Equity benchmarks, this is a momentum indicator. Over boughticates territory. Remember since the lows back in late march, we have added more than 20 trillion worth of value to the Global Equity markets. I want to talk about other. Sset classes the 10 year treasury is getting a bid today. Down six basis points. We are seeing the curve flattening after the steepening we have seen. That spread between three and 10 year notes. We are paying attention to the fed ....
Market is positive by 0. 2 percent on the s p 500. Hours away from chairman powell and the News Conference. Tom it is a different it is changed outlook to the press conference that it was 48 hours boko ago. Jon it is not seven, it is six. It is not seven. The bad news, it is 6 inflation in the u. K. Lisa this is a positive but how much of a positive. The key distinction is the core measure came in much more than expected so stripping out food and energy, how much will we be talking about the difference between core and what you feel when you go to the store . Tom we are there when we are slicing and dicey like David Rosenberg. What you do with inflation and disinflation but the Central Banks torah centralbank story with me jon the highs going into this bad decision, crude we are right their own crude so the headline ver ....
The republican congressman in question has been raked over the coals as to what republicans are doing. Are they taking this thing apart . What we do know at this point, it is in the senates hands. The senate will take its sweet time on this there is no rush for this. The markets interpret that to mean, all right, fine, to come up with something even though you start from scratch, so be it. But it could delay the tax cut thing. Many, many times, delay in the tax cut is something that could be a problem because if it is pushed into next year, guess what . Growing talk it will be difficult in middle after Midterm Election year, and Midterm Election year, republicans could, potentially lose. Fascinating report that the cook report has uncanny track record on this stuff, more than likely ne year, republicans lose the house. Now you might say, wait a minute it, would take 24 sw ....