Term. He talked about a weakening economy, headwinds developing enough to trigger optimism in the Financial Community that he is going to cut rates at the end of this month. Maybe not by a halfpoint a lot of people saw happening, maybe a quarter point, just in the course of his testimony, one of the fascinating things i discovered there was about 60 probability we would see we could see a cut in rates by end of this month. When it came to halfpoint cut down to 16 . But again the expectation is that a cut is coming. He is he is making the case for such a move. He is not telegraphing additional moves. We want to say on this, give you a flavor what is happening here. Democrats on this committee have been pouncing whether he feels pressure from the president of the United States, that he should essentially do his bidding to cut rates. He has said no, he doesnt think the president can fire him. By the way the president cant fire him or demote him. Leaving that aside he stood very strong on
Good evening, everyone. Welcome. Well, the stage is set and investors cheered. Federal reserve chair Jerome Powell bolstered the case for a possible Interest Rate cut when policymakers meet at the end of he suggested that lowering the benchmark rate would bolster growth and cited a number of uncertainties here and around the globe. Thatd lif optimism on wall street, sending the nasdaq to new highs and the s p 500 ble l briefly through the 3,000 mark before it pulled back. The downd jonestrial average rose 26 points to 26,860. Theasdaq was up 60 and the s p 500 gained 13. We have two reports tonight. Bob pisani is at the New York Stock Exchange, but we begin with Steve Liesman and the fed. Fed chairman Jerome Powell all but guaranteed thel fed w be cutting rates probably as soon a this month, from the testimony in the house today. While he said the u. S. Economy is in a good place he emphasized globalncertaint economic weakness and low inflation as the things guiding policy. Would it be
Homeless oil refinery is hobbled in the oil refinery the German Media Company says a weak advertising will hurt Third Quarter profits, prosiesen good morning, everyone it is tuesday. If you take a look at the heap map, the stock 600 in europe, you are seeing a sea of red, a picture of risk aversion as we see that north korea has fired a missile over japan it is down by 1. 34 . We are trading at the lowest level in six months. This has to do with risk aversion in the face of the latest aggression from north korea and also the euro strength it has climbed above the 120 mark for the First Time Since january, 2015. Thats not helping many of the exporters in europe. Lets have a look at european markets. What you will see is we are seeing lots of red on the screens. There you go lets swap over, the ftse 100 off by 1. 3 . Similar for the other markets. When it comes to the sectors, media is one of the biggest declineers y it was downgraded by goldman sachs. It is looking for investors as the
Just to entertain, but to coach and teach you. Email me or tweet me jimcramer. This trump trade, the dow advancing 36 points, s p climbing. 02 , and i think the president is starting to confuse the heck out of everyone in the business world. This show is about investing not politics. Tru you should not invest based on his musings. Stocks are going up because of self help and because of mergers. And there are those that are going down because of the uncertainty created by the president s tweets and the casual comments about the rest of the world. Im not sure that the president understandings that his words carry a lot more weight than they did when he was a private citizen. For example, when you say out loud that maybe the big banks should be broken up. When you say that the government should be shut down in september, youre sending a message, im a provocateur and chief who doesnt know my own power. Wall street has gone from believing that trumps going to save American Business to wonde
About comeygeddon you may think its about being comey toast but on this show we only care about washington insofar as it can help to try to make you money. Its important not to miss the forest for the trees. The dow averaging up nine points. Nasdaq advancing 9. 3 . I think the story is much less about director comey versus President Trump than it is about two stops. Invidia versus nordstrom i know. Only i could boil down a constitutional crisis into two stocks. Thats all right. Theyre jumping. I can do it. As riveting as the comey testimony was, for me, it means only one thing, forget about washington. Forget about it. If youre looking for anything good, these hearings, thats it. They have derailed entirely. The trump economic agenda the stock market likes very much including repatriation and tax reform. In that landmark documentary, duck soup, you have to take up the tax before you can take up the carpet. At this point, trump, he cant even take up a carpet. Yeah, its that bad for the