Welcome to power lunch. Scott walker the dow off the lows of the day when it was down nearly 300 points on the trump comments we just mentioned the s p 500 coming back a bit. The nasdaq the big loser down more than a percent. Check out the small caps in the transports, goth groups rebounding yesterday, but sinking deeper into correction territory. More on those moves a little later. As scott mentioned, stocks in the red as President Trump told reporters no deal is coming with tauschh china. Reporter the comment by President Trump calling into question whether talks with china would even happen next month is what moved the market because it raised expectations those new tariffs september 1st could go into place. Listen were doing very well with china. Were talking to china were not ready to make a deal, but well see what happens we have an open dialogue well see whether or not we keep our meeting in september if we do, thats fine. If we dont, thats fine but its time that somebody does w
Have often thought was private equity and then i started interviewing. I learned from doing my interviews how leaders make it to the top. I asked him how much he wanted. He said 250. I said fine. I do not negotiate with them. I did no due diligence. Dave i have something i would like to sell. And how they stay there. You dont feel inadequate being the second wealthiest man in the world . Is that right . The most important people on wall street has been john mack, who led Morgan Stanley through the financial crisis of 2007 through 2008. John rose through modest circumstances to become a leader on wall street. I sat down with john to discuss his life story and what he sees as the future of wall street. So you have spent more than 50 years on wall street. And probably the most difficult time was during this 20072008 recession, where Morgan Stanley came close to going under. Was that the most difficult time of your career . John no question about it. We were on the brink of going out of bu
That requires congress to give to be given the authority to review, approve, reject or take no action on any agreement between president obama and iran to reduce Irans Nuclear capabilities. We discuss that agreement likelihood of coming to agreement with iran could talking to fox news military analyst, Major General robert scales. Also a major blow to Bush Administration and Obama Administration. A federal Appellate Court ruled that National Security agency mass collection of citizen phone records is illegal. Decision potentially making it far more difficult to fight the war on terror. We take it up with some of the best attorneys in the country, mercedes mers call and socalled wells report does not prove anything. But does claim that patriots were quote or probable than not to have deflated game balls. And that tam brady of quote at least generally aware end quote. Of what was going on. What does that really mean . Well talk with sport marketing legend, tony ponturo on the wells repor
Give to be given the authority to review, approve, reject or take no action on any agreement between president obama and iran to reduce Irans Nuclear capabilities. We discuss that agreement likelihood of coming to agreement with iran could talking to fox news military analyst, Major General robert scales. Also a major blow to Bush Administration and Obama Administration. A federal Appellate Court ruled that National Security agency mass collection of citizen phone records is illegal. Decision potentially making it far more difficult to fight the war on terror. We take it up with some of the best attorneys in the country, mercedes mers call and socalled wells report does not prove anything. But does claim that patriots were quote or probable than not to have deflated game balls. And that tam brady of quote at least generally aware end quote. Of what was going on. What does that really mean . Well talk with sport marketing legend, tony ponturo on the wells report. And the nfl should do n
Believes washington must do Everything Possible to avoid defaulting on its debt. Liz the adp jobs report came out weaker than forecast. Adp said companies hired 166,000 new workers since september. The august increase was revised downward to 159,000. David we may not get the friday report. So which have to rely on adp. Activist investor dan lobe is turning up the heat on sothebys and wants to out of the man who is both chairman and ceo. Lobe says the auction houses leader has failed to grasp the modern art world. Liz the seed giant, monsanto agreed to buy the farm Analytics Firm farm corp for 930 million. Monsanto announce ad deeper quarterly loss as sales dropped. David reuters, reported that cargo, one of the leading traders is in final stages of the deal to buy Archer Daniels midland cocoa business. If it goes ahead it would have a price setting global giant. We have a lot of news breaking this hour. After the bell starts right now. Liz look where we ended today, david . Down 60. Ju