The nasdaq got spanked and slit 1. 6 but the average value 29 points in an it is passion of the upcoming rate cut, the first in ten years allow me to set the stage, on wednesday fed chief jay powell will give us the read on the economy and announce a quarter point rate cut to breathe now life into a business situation for many different industries. I know there will be sticklers that say with unemployment with the lowest level since the 1960s, it is ridiculous for the fed to think about cutting rates. Others like President Trump think a 25 basis cut isnt enough the president endlessly tweeted the Federal Reserve is way too tight monitory policy has been holding back the economy did it again today when your Interest Rates are too high, the currency gets stronger versus the rest of the world our rates are much higher so the dollar is very strong and makes the internationally Oriented Companies far less competitive and can hurt the Auto Industry and housing industry both of which are weak
The eclipts is a big business story. Dozens of companies with offers. And if ever a die to buy solar stocks, buy. All of the angles covered for you coming up. Plus, treasury secretary Steven Mnuchin making a tax for tax reform tim pawlenty head of the Financial Services roundtable. What he wants to see in that plan coming up. And to our reporters covering the Solar Eclipse. Contessa brewer is in columbia, South Carolina and jane wells joins us as well but first to contessa. Reporter people are reacting now by leaving i can still see the sun partially occluded here. Its still a crescent as the moon moves out of its path and people are like, okay, been there, done that its hot outside, feels like its 15, 98 degrees with the humidity so theres been a lot of people taking a move on, but ill tell you what people paid a premium to be here i talked to people who have driven down from new york and people who drove over from macon, j. , ageorgia and all of were paying a higher price for hotels,
A News Conference is scheduled, a standoff with mexico looming. Plus, its a busy day for earnings. We have alphabet, microsoft, intel, all moving in the premarket. And as weve mentioned starbucks Howard Schultz joins us this hour with his companys earnings and a lot more. First up though, another busy day on tap for the president one week after his inauguration. Trade will be among the big issues on the table when he meets with uk Prime Minister may at the white house. Their joint News Conference slated for 1 00 p. M. Eastern time. Still a lot of buzz surrounding the mexican president canceling that meeting with President Trump scheduled for next week insisting that mexico would not pay for a border wall. Within the last hour the president tweeting, mexicos taken advantage of the u. S. For long enough. Massive trade deficits, little help on the very weak border, must change now. Former mexican president fox on with the guys with squawk this morning saying we dont worry about trade. Wev
41 puts it in a socalled bear market. Alphabet shares on the rise. Energy giants on the move this morning after earnings, this, as oil sinks further into bear market territory. And, man, those exxon numbers werent good. And the dnc wraps up. Economic growth coming in well below consensus. 1. Versus 2. 6 expected. Gdp in europe disappointing overnight. S p and dow up a little bit. The best month since march but the first down week in five, perhaps. You had to go through a gauntlet. Apple. Facebook. Alphabet. And, amazon. And, i gotta tell you, 4 for 4 is pretty impressive. You see the nasdaq holding in there. Playing catchup. I didnt think we would go through the gauntlet unscathed. I felt one of them would screw up. I think the worst one was amazon and that was pretty great. It was not as huge an upside. And i have to tell you, their Conference Call has gone back to this opaque nature i cant stand. You know why the quarter was good . A fly wheel. Fly wheel . Thats like isnt that like p