Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w
The lowest since october of 16. Stocks are going to continue to have a tough time as long as yields keep falling the way they are. And it doesnt seem like where are we stopping is the next question . We talked about this up over the 3s started getting toward 3. 25. Now looking at the down side its amazing to see how much pressure that were seeing right now in terms of the yield and how much thats moving to the down side. Volatilities have been spiking we know that we had that pullback but stayed above 20 still trading around the 22. 5 area the markets remain very, very volatile for all the right relationships. When you look at the mix of whats going on. Whether its the tenyear, the trade wars or you talk about any different issue thats going on, the president and some of the commentary, what people think about what larry kudlow might have said yesterday. All of that combined, there is a lot of unease out there right now. No doubt about it. And the only safe places that i can find right
Plus, verizons 5g focus. The ceo says 50 of consumers will have access to that technology and beyond meat is tumbling in the premarket, pricing a secondary at six times the ipo price and has new competition on the way. Stocks are looking to open higher after their worst day in two months yesterday the fed cuts rates by a quarter point, but the chair dampens expectations for more easing despite the selloff, the major indices still finished july in the green, their sixth positive month in seven, although were headed into the historically weakest two months of the year well, look, were making much too much of this mid cycle were going to forget what that means five days from now we wont be thinking about that. Well be thinking about it today until the market goes up then we say forget about it. He was in a spot hes in a spot because he has a president who cant fire him but would fire him, right . And send him down the elevator he wants to make it so that its not personal so he comes up wi
From Stewart Frankel welcome, steve thank you are we going to end the sixday win streak here . If we did would it be a shock . And its still plenty of time for us to turn around, turn green. We bounced about 6 off the lows but we are not overbought. So to your point, i dont think that we necessarily have toned today but its a good stop to say lets take a breather, were still above all the moving averages in the overall market about 10 handles lower in the s p cash but i still think were on good footing. Is 2900 a tough footh for the s p . It is because its a big fat round number so i think the 2954, the alltime highs, thats the tough number you have to worry about, not the 2900 lets focus in on the big stories we are watching. Bob pisani has whats driving todays market which of course has been up and down ylan mui is watching a tech antitrust hearing on capitol hill and phil lebeau is covering teslas Shareholders Meeting bob, lets start with you. Lets take a look whats going on its ver
Until the close, cnbc contributor stephanie link from tiaa a nuveen company. Welcome, stephanie thanks. Energy doesnt usually lead this market but is today on the oil bounce and questions about whether thats sustainable and given sort of the scale and increase in tensions whether the move is big enough to bring back the sector and commodity trade i dont know. I really dont because its been a tough industry for the whole year. For a whul of years now. So this is really more a supply issue concern. I think the Biggest Issue for oil are demand and the demand environment has been slowing and the revisions have been lower. So with that as a backdrop this might be just temporary. You would have thought oil would have been rallying much more than it did. I spoke as well about 20 minutes ago to one of the senior traders at one of the major investment banks and said was pleased to see the algos didnt disrupt the market when pompeo came out and clearly blamed iran on that. That could have been a