Speak to consumers, expected to spend a whopping 7. 4 billion today according to a dopey analytics. Jackie deangelis joins us from a mall and edison, new jersey. What is it look like right now . Well, its starting to heat up. Behind me, macys was open from 5 00 p. M. Last night in the mall is just opening inside in the concourse now so you can see h and m is still closed the people are lining up outside. Down here we have an Urban Outfitters with people getting ready to go in as well and as you said the projection is for over 7 billion this year hoping to set new records last year black friday spending was about 6. 2 billion. The average consumer that comes out today is expected to spend about 400, but the question is, is at the same kind of black friday we are used to to maybe five years ago or 10 years ago . People would line up and storm the stores for deals. You can get a lot of deals online in the deals in the stores, the discounts have been active pretty much all this week. From
World cut rates. China weakening the currency again overnight. A perfect guest to discussion the swings in the market, former treasury secretary jack lew joining us thats coming up on closing bell. First right to the market action, joining us for the hour is josh brown. Whats turning things around here oh, my god, this is like what we live for, right it was pretty dire this morning. In the last five days, i have shift fred bearish back to bullish, then bearish, then superbearish. I was lutheran for a minute now i know youre joking. I am personally highly susceptible. I know this about myself, and every investor should think about their own behaviors. Im hidely susceptible to the lines i see in front of me not that i will react to all of them, but if youre not going through that, maybe check your pulse, that is what markets are designed to do, and i think the people that radically shift their views based on price act are the people who end up paying the volatility tax what led the comeb
Falling back below 2 . As i said, the s p 500s essentially flat at this moment. The dows just lower the nasdaq down 0. 1 the russell looks down a full percent as regional banks down almost 2 . Joining us for the hour today to break down the Market Action is steve grasso from stuart frankel. Great to have you with us. Good to be here whats your take on this sort of softish session only a day or so after great positive trade news . You have a holiday week, so you have a shortened, abbreviated week you have people looking for either you had a rebalance on friday, you had end of quarter, end of month, end of week. People are starting to take a big, deep breath in. Seeing where they want to reassess, and and redistribute their Equity Holdings its all about the fed people are on fed watch right now. Thats really the only thing that is taking up the brain of a lot of the Market Participants right now. Even though trade is all over the headlines, its still fed. Fed still cut, but the trade tru
Sara eisen happy monday. Happy monday to you the Global Market picture pointing higher off the back of a nice end to the week on friday we saw about 0. 5 of gains for the dow and s p, on. 4 for the nasdaq, meaning the nasdaq ended just negative for the week the dow and s p gained 0. 4 for the week and financials the best up today up 35 for the dow, the nasdaq is up 4, the s p up 3 tenyear treasury, we saw a riskon move, closer to 2. 4 again, 2. 37 , but in general, not much happening there last week on the yield front. Bitcoin futures going live last night and cryptocurrencies took another leg higher. Well have more on the latest move coming up, but as you can see, the latest price, 17,600, up 13 on the cboe exchange. They started at 6 00 p. M. Last night. There were a few outages, but ultimately, the price remained well supported with this liquidity event which is a positive, at least in the short term. It will be interesting to see how this goes. Then weve got the cme futures launchi
Coming off of gdp number, the s p 500 basically flat financials sees a little bit of strength nasdaq seeing the most up 0. 6 and the dow is virtually unchanged. Pete in gerrenajarian, when thar crossed today, what was your first reaction were seeing the numbers continue to be fairly in line, fairly strong. Weve been impressed by those, impressed by the earnings season take a look at whats really reacting to the financials once again. Look at Goldman Sachs and jpmorgan they have been underperformers thats something thats a little bit concerning to me after listening to mr. Buffett talk about bank of america, one of my larger holdings, im pretty excited about what hes had to say whats the reaction since weve had time to adjust these numbers, in terms of thewall street economist and how they see now q3 and how this impacts what they saw for q2 so technically, todays gdp number doesnt have a whole lot of information well get more information tomorrow, get the personal income and spending d