Joining us for the entire hour is dan nathan, founder of risk reversal advisers. Welcome back to you. Sara. So theres something youre looking at about the s p 3000 level and fed meetings if you go pack to july 31st, the last time that the fed met, they cut a quarter basis points Interest Rates the first cut in ten years and the stock market was above 3,000. And and it wasnt until the trump tweet the next day that we broke down and stayed down all of augusts here we are now, expectations are for another cut, and it seems like the s p has really paused again at the same level, about 3,000. Weve got lots to discuss with dan, but lets drill down on the big stories were watching today bob pisani is tracking the big reversal leslie picker has details. Mike santoli has a special market dashboard ahead of fedexs earnings which hit after the bell and well have for you here on closing bell. A big day in oil. Oil dropped right after the open on a reuters story that saudis oil output would be full
Half a dozen fed officials speaking today as the growing rate debate simmers. Speaking of the fed, two perfect guests, both officials who served on the fom, Sarah Bloom Raskin, coming up before the close today. Joining us final hour of trade, josh, nice to see you. Happy to be back, sara. 212 point rally here. Are you buying into it i think whats interesting, the answer is yes. I think whats interesting weve done nothing, given headlines, back to early august, essentially flat im not suggesting thats a bad thing. In fact, bulls would say look how much is thrown at the market in the form of tweets and deals and nondeals and fed volatility. In the meantime, yields havent even stabilized. Yet were still hanging in at these levels i think whats important, give the edge to the bulls. Weve been testing resistance in this range the upper side of this range, more than weve been testing support. So slight edge to the bulls. You look at xly, xlk combined sam will probably correct me, probably 30
He has a near perfect record. At 7 30 eastern time, Marathon Asset Management Bruce Richards is betting big on europe. Coming up at 8 00 eastern time, well get political with former obama chief of staff bill daley. Hes now working for a swiss hedge fund. A lot of them will be talking to what weve been talking about this morning. First, lets get you up to speed on todays headlines. Are you ready for this . Im gary owens. Ive got one of these things on. Its like youre madonna, only i need yes. That wont look at good on me. You already hear some of the buzz . I realize again why we have these on. Theres a huge thing going on behind us. Not yet because its early. But today, tech is the dominant. That was the dominant theme of this mornings stocks to watch. Lets start with apple and ibm. The two teaming up on a Partnership Starting this fall. Ibm will sell iphones and ipads loaded with applications geared at business users. Shares of both companies did rise after hours. I took a look last n
They are mothers, veterans, and veterans federal courts are under attack. Since when is it okay to burn down a federal court . Is that okay now . No, the u. S. Marshals have a duty to stop that and defend the courthouse, and thats what we are doing in portland. We are at the courthouse, defending the courthouse. We are not out looking for trouble. Dana and we have Fox Team Coverage for you. William la jeunesse is standing by in portland where he has been with federal agents. Lets go to the white house, chief correspondent john roberts. He is live on the north lawn. John, as we wait for this hearing to get underway again, with the big take away from the White House Point of view . I think you see the attorney general out there who was fiercely defending the use of these federal troops in portland. Not troops, but federal Law Enforcement officers and agencies. We understand from reporting from the Washington Post that the u. S. Marshals service will likely be sending about 100 more deput
Out of a tailspin. Rudy guiliani and his legal team push conspiracy theories about the democracy, and i will speak to one governor willing to speak up. All eyes have been on georgia, and it just certificated that election. Welcome to friday. Its meet the press daily. We have a packed show for you. The president engaged in an overt effort to overturn the results of a free and Fair Election held in the United States of america, and hes also undermining the president ial transition as more than 1,000 americans die every day due to this countrys failures to contain the pandemic. This morning the president invited some of the michigan lawmakers to the white house. This meeting with michigan lawmakers comes as the president engages in hail mary efforts to try and get legislators to overturn the results of the election, something that appears could not be done in michigan. His lawyers claim a vast nationwide conspiracy, and also with the help of hugo chavez. He died seven years ago. Of course