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Plus Consumer Confidence slips but less so and bill dudley says the fed shouldnt enable the disastrous path of trade war es ka ligs and should attempt to influence the election not cutting rates further. We have it all coming up in hour joining us for the hour is steve grasso here at post nine good to see you. Good to see you. A wobbly session today in terms of the market. Up on the dow. That didnt hold but we are also kind of oscillating off the lows here still within this monthlong range. I think its about yields german yields, negative yields around the world probably heading even lower from there and taking the equity markets with it. Thats it from the 50,000 foot up and now trade headline, dudley today writing today and trump tweeting dudley in any other news day i think dudley should have been the focus from start to finish but when you have rates and when you have headlines on trade that kind of gets lost in the shuffl ....
New data and uncertainty over tomorrows opec meeting. Well be leave in vienna with the latest porsche is unveiling a new model today. Ceo will be joining us in a first on cnbc interview coming up but while the dow and s p started off the session with alltime highs yet again, the nasdaq has been falling all day and Companies Like netflix, apple, amazon, theyre seeing big declines bertha combs has the news. So are the big tech cap stocks, investors calling it the great rotation today theyre taking profits on names that have run up so fast look at autodesk thats a case in point today, trading at alltime highs yesterday, tumbling on an earnings missed also announcing a 13 work force layoff, thats sending some jitters as well in tech. The biggest source of pain though overall is the sector now the Semiconductor Index has been leading the charge to alltime highs here at the na ....
Factor, tax cuts. A deal in the senate looks very likely. Yes, there is lastminute bargaining but all 52 republican senators including john mccain voted to get on with the debate. That is a positive signal. President trump in full Campaign Mode in missouri yesterday pushing a tax deal hard. He says tax cuts pour rocket fuel on the economy. Oh, the crowd loved it. Thats our show today. 24,000 on the dow, tax cuts and a liveaction presidency. Varney company is about to begin. Senator claire mccaskall, is doing a tremendous disservice, she wants taxes to go up, shes weak on crime, shes weak on borders, shes weak on illegal immigration and shes weak on the military, other than that, i think shes doing a fantastic job. [laughter] stuart that the way you get a democrat senator to vote with you as a republican . He took you could te he took a shot right at missouri senator claire mccaskall, shes a democrat. The debate on tax bill is under ....
Typical year end selling. Add to thaopolitical risk. The president made the controversial move of declaration jerusalem to be the eternal capital of israel, a dramatic shift in American Foreign policy for the past few decades, sparking the world. Eamon javers is at reporter President Trump cast the decision to recognize jerusalem as israels capital as simply acknowledging the reality politically on the ground in jerusalem. He also said he was fulfilling a campaign promise. Today i am delivering. Ive judged this course of action to be in the best interests of the United States of america and the pursuit of peace between israel and the palestinians. This is a long overdue step to advance the Peace Process and to work towards a lasting agreement. Reporter were getting ....
We will have more on it with bloomberg politics. Definitely stay tuned for that. We are halfway into the trading day. Lets head over to julie hyman. Julie thanks, guys. We had Economic Data later today. We see the 10 year yield taking a leg lower earlier. That is when we got the retail sale data lower than estimates. ,etail sales unchanged overall but if you include auto sales, they fell. We also saw inflation falling. 1. 49 is the yield on that 10year note. After we got these earlier numbers, we got Consumer Confidence that came in a little worse than estimated. The dollar fell. It is lower on the day. It had a sharp move in the wake of that earlier data. We are watching fed futures. The way we track that and the probability that is baked into that that the fed is going to raise rates. You see how that economic side affected it. What is the read through two stocks . Not ....