Begins right now good morning, good afternoon or good evening and welcome from wherever in the world that you may be watching im Brian Sullivan and happy to be back with you on what will no doubt be a very busy monday. Here is how your money and the Global Markets are setting up their day coming off that. Friday, 623 point drop another wild session last week now futures right now if youre waking up, dow, that is not a misread on the screen. We are solidly higher. Dow futures are up 281 points. What makes this even more remarkable is that just about two hours ago they were down more than 100 points, but they made more than a 300point swing higher in the last couple hours. All that as President Trump said that china is ready to come back to the trade negotiating table look at that, that was about 3 00 a. M. In the morning when our hardworking staff is already here, by the way, futures making a big turn up and this is where we stand right now. What a turn. President speaking on the sideli
Morning. Education secretary rick perry calling it a deliberate attack on the Global Economy. Plus oxycontin maker, pharma filing for bankruptcy this morning. First up, though, a series of attacks on two of the Worlds Largest Oil Facilities in the news the u. S. Is rejecting that notion saying the scope and the precision of the attack suggests the launch was made by the houthis but, in fact, originated by iran. Iran calling the claims baseless and unacceptable guys, weve been talking all year long about what it could take to produce a true supply shock. I think theyll come back 5. 7 Million Barrels. Look theres a temporary inability to get permian oil. You can only ship so much. You have one harbor who can handle it, two others. Corpus christi not yet i guess what im saying it cant. Were pumping too much and it does remind you if we had even more pipelines, we could just turn the spigot on its not the Strategic Petroleum reserve. Its the permian. There are a lot of key questions. One,
Making money. Charles so i got to tell you, investors, at least the market appears to adjusting to worsening yield curve inversion. 10year lower than the two year. Just earlier this month, remember when that first happened, first time that happened, investors running for the hills. The stock market crashed almost, recession fears were rampant. What changed here . Here to discuss david dietze, and mahoney Asset Management president ken mahoney. Ken, the first time this happened, the dow was off 800 points. Closing at low of the session t was all the talk of financial and mainstream media, recession around the corner. What is different . What is causing inversion, part of it is foreign money coming into our markets. 15, 16 trillion of negative interest rates, that will bring money over. You cut rates a couple times, you get inversion. One is cause of it. Investors realize the cause of it, recession in the u. S. I dont think it will happen. More to do with foreign money coming in be buyin
Hinted more rate cuts could be coming due to the trade war. Steve liesman is at the fed summit in jackson hole, wyoming, but we begin the washington where the president is expected to announce new actions against china. That announcement could happen at any moment. Ylan muay is live with that . Reporter looks like that response is happening right now. The president put up several tweets, including one that said our country has been losing billions of dollars to china every year with no end in sight, and china should not have put more tariffs on 75 billion dollars on u. S. Products thats politically motivated. He said starting on october 1st, the 250 billion dollars of goods and products from china taxed at 25 will be taxed now at 30 he said additionally the remaining 300 billion of goods and products from china being taxed on september 1st at 10 , that now will be taxed at 15 , and he thanks us for our attention to this matter i think markets have been paying very close attention theyv
Consumer this morning. Well break down earnings. And breaking up is hard to do the chairman of the ftc weighing in on how to separate facebook the dow and s p in the midst of a three session win streak, moving closer to erasing all of the losses from wednesdays big selloff with stocks set for modest open, does this signal a pause in the volatility jim what do you think about that question i think that thats probably wrong. I dont see a pause because at what point today do we start hearing about jackson hole and what powell is going to say and what the president is going to charge were still dealing with a rosy hangover from the weekend talk shows where people really are buying into what larry kudlow said and it is interesting, but home depots comments are very much like what larry kudlow said. That things are a little better than people realize. There is no recession. This is pretty good. I feel like when i hear those things, it makes me think of is the hawks on the fed are going to be