The green. wall street is waking up kind of to a reprieve, if you want to call it that this morning. the question is how long it ll last after traders and investors just yesterday witnessed the other big drop in the market. it is the third straight day of declines yesterday. it is basically shaving 7% off the value of the s&p during a three-day span. the tech-heavier nasdaq lost a tenth of its value, again, in just three days. now, for certain key parts of the market, it was the lowest level in over a year. there are, of course, lots of reasons for that sharp change in sentiment over the last several days, weeks, and, arguably, months now. markets have, in the past, shaken off things like geo political tensions, fierce economic slowdowns and other risks. the difference now, of course, is the fed. the campaign really america s central bank has to wage against inflationary threats, the biggest in a generation. the levers of the federal
The dow dropped 391 points monday afternoon while the s&p 500 and the nasdaq lost a little over 1% each. the mood not much better around the world calling an escalation between the u.s. and china precarious. morgan stanley warns in a note to its clients that the next round of tariffs has the potential to cut into muscle. president trump said he would put a 10% tariff on another $300 billion of chinese goods. that is expected to go into effect on september 1st. that wave of tariffs would hit iphones, auto parts, tvs and harm consumer demand. despite the president s demands that china pays for the tariffs, studies show that u.s. families and consumers, yeah, they re the ones who pay the higher costs. economists at the new york fed studied the tariffs last year and found the total cost to consumers was about $831 per household. the bill could rise from there with trump s new tariffs next month. the man accused of opening
Brown or red. this is scary for a lot of people who like to take their dogs swimming in ponds or lakes. it produces a smell that is nauseating to humans and can attract animals. let s get a check on the business. asian stocks declined amid rising geopolitical tensions. european markets have opened lower. futures barely moving after yesterday s selloff proving wall street s is there. the nasdaq lost a little more than 1%. china sensitive stocks including caterpillar, deere, boeing all declining more than 1%. three major luxury brands are facing scrutiny from china over a controversial t-shirt. coach and davante are under
Closing little changed after the dow hit 23,000 for the first time ever during intraday trading. the dow finished the session just below that level gaining 40 points. the s&p added a point. the nasdaq lost a fraction of a point. united health reported a stronger than expected quarterly profit and raised its full year adjusted earnings forecast. shares rose 5.5% to hit an all-time high. ibm s revenue has declined for 22 quarters in a row. still, its stock ticked up more than 3% in after-hours trading after reporting that earnings beat expectations. that s it from cnbc, first in business worldwide. so we sent that sample off to ancestry. my ancestry dna results are that i am 26% nigerian. i am just trying to learn as much as i can about my culture. i put the gele on my head and i looked into the mirror and i was trying not to cry. because it s a hat, but it s like the most
Baltics to defend russia s neighbors, bret? jennifer griffin live at the pentagon. the head of the federal reserve says she expects to start raising interest rates late this year. janet yellen is still expressing concerns over weak wage growth and low labor participation rate. yellen said today that when the fed does act, any increase will be gradual. optimism over the prospect of a deal for greece fuelled a wall street today. the dow gained 212, the s&p 500 was up 25 the nasdaq finished ahead 75. for the week, the dow was up a fraction s&p 500 essentially unchanged, the nasdaq lost a quarter of a percentage point. after leading the opposition against harsh new austerity measures greece s prime minister is now urging lawmakers to accept even stiffer cuts in order to get a three-year reprieve on an economic collapse. european officials are reviewing the greek proposals while the prime minister is trying to get hard liners in parliament on board. next in the grapevine, spending