Had their worst days since 2022, restoring some confidence, better than expected economic data here in the united states. We will get that in some detail in a moment. Lets go to Nashville Tennessee and speal to david waddell, president and chief Investment Strategist at waddell associates. Welcome back to the show. Yesterday was the worst day in a year and a half or us markets. Now we have had time to sleep on it, what happened . Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than InfLation Report came out on the 10th ofjuly. From that point, it was down 16 . The Magnificent Seven were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the
Lets just show you how things have been trading on wall street. Khan to those numbers after a difficult day for investors. Calm returning that those members. David waddell is an Investment Strategist based in nashville tennessee. He told us in his view the big Tech Sell Off was long overdue and actually in some ways healthy. Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than Inflation Report came out on the 10th ofjuly. From that point, it was down 16 . The magnificents were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the year for retail, and the highest since 2021 for professional investors. We had a lot of complacency. The vics h
After he suspended seven Labour Mps for rebelling against the government. Theyd voted for a scottish national Party Amendment to scrap the two Child Benefit Cap. The Prime Minister has previously said its unaffordable to ditch the policy. But many within his party disagree, and Hope Hell change his position in the coming months. Heres nick eardley. The ayes were 103, the noes were 363. So the noes have it, the noes have it. Unlock. Less than three weeks in power, the new government has had its first rebellion. It was small, but the Prime Minister has responded with his first show of force. Mps have been debating the kings speech, Keir Starmer s plan for his first months in power. It included almost a0 bills, but nothing about overturning a controversial conservative policy limiting some benefits to the first two children in most low income families. Last night, the snp forced a vote on scrapping the two child cap, saying it was pushing people into poverty, and a small number of Labour
And to do that it simply needs to do trade with other countries around the world and as you have just heard, india is a very fast growing economy, and if few years it will be third largest in the world so the uk simply has to do more trade with this country, that is why they hope to get negotiations under way again. They have been frozen for many months also because of the long election here in india that delayed the process because the moment elections start, these things have to be frozen, so labour wants to get that back, the foreign secretary said he is keen for those to start and technically it is not really his job, it is for the Business Secretary and trade secretary, but this is something we are the context is all, so why they are here is notjust economics, it is about sending a message to here and the rest of the world, the global south, other developing countries that the uk is notjust interested in europe or the United States and in its own areas, it wants to start thinking
Good morning. For many of us today we are going to see sunny spells, variable cloud and the Odd Shower. But later, The Cloud will thicken in the west introducing patchy rain. Details later in the programme. Good morning. Its wednesday, 24thjuly. Seven Labour Mps have been suspended from the party for six months, after they rebelled against the government over the two Child Benefit Cap. Its the first big test of Sir Keir Starmer S Authority as Prime Minister. Hes said its unaffordable at the moment to scrap the cap, but he was defied by a group of mps who backed a call from the Scottish National Party for it to be lifted. Heres our political correspondent, nick eardley. The ayes were 103, the noes were 363. So the noes have it, the noes have it. Unlock. Less than three weeks in power, the new government has had its first rebellion. It was small, but the Prime Minister has responded with his first show of force. Mps have been debating the Kings Speech, Keir Starmer s plan for his first m