Trade tensions recession concerns Interest Rate worries and nowolitical drama. Despite it all, stocks stayed steady. Lets run through the numbers. Today on the last day of the quarter, the Dow Jones Rose 96 points to 26,916. The nasdaq added 59 5 the s p 500 was up 14. For the month, all of the major averages were higher. And for the quarter, the tow and the s p were up, but the nasdaq dipped slightly. Now comes october, a month that historically is volatile. And the next big hurdle earngs. For the Third Quarter officially out of the way, the markets are still on track to end the year strong. Investors are going to be fixated on the next big catalyst and that is earnings. This next great earning recession fear that dominated the First Quarter and the fear that companies would lower earnings expectations in the second half of the year because of the tariffs and trade wars none of this has ever come to pass. Earnings have heldel steady and remain roughly flattish for the second quarter,
Alphabet suffering from its botched day, launch tesla falling sharply into today, almost 7 to the downside. Interest rates are attach higher today as the atlanta fed president warns it in an essay today, cutting rates too soon and cutting off potentially a new level of euphoria in financial markets. All of this takes us to the top of the tape, the key market watchers say in the middle innings of this resilience and relentless bull market. Lets ask adam what he thinks, the ceo of trivariate research. Welcome back. Lets see if youve heard this before. Nvidia is up, and so is the s p. Its almost like a daily occurrence now. The s p is 5100, 50 1 50. What is the next stop . Obviously what im going to say, it depends on the horizon, what you are planning for. If you look out, 18, 24 months, i think weve got plenty of upside. One thing i will say that over the weekend, semiconductors are cyclical, okay . They are cyclical as an industry. Maybe the amplitude makes the cycles different this ti
Climbing back. Were in positive territory up nine points. Well see what is leading the possible reversal. Im trish regan. Welcome to the teleagainst the intelligence report. He said we need the wall and Border Security and to end chain migration. The president seemed to say that he was okay starting with daca first that has folks in his base absolutely postively furious. Did you see ann coulter on lou dobbs . That is a taste of what may come from the base. Dont you have to compromise somewhere . Well ask congresswoman mcsally whether or not anything will really get done. President trumps personal attorney suing fusion gps. This is the Company Behind the socalled dossier as well as buzzfeed, the company that published the discredited dossier. This as we learn that the companys attorney told investigators quote, somebody has already been killed as a result of its publication. What the heck does he mean by that . Well talk about all of this. Go to blake burman at the white house with the
This may be a one off. The big question what it will do to the fed. Could weak retail sales cause a different approach to raising Interest Rates. Maybe the market likes it. It is tightrope the fed is walking and market is walking. Well talk all about it as we watch triple digit gains with our allstar panel next. Former george w. Bush advisor, karl rove, he is here to discuss new developments coming out of white house on infrastructure and immigration reform. That is next. I want to look back at the markets. Quite a turnaround from earlier in the session. I think people were pretty speakinged with that Consumer Price index number came in a little hotter than it would. Nicole. Hit nail on the head this morning when the Consumer Price index number comes in showing inflation, came in higher than we thought. Biggest onemonth jump. When people saw Rising Interest Rates they got a little spooked. Futures were down over 300 points at one point. You knew they would pick them up. They are buying
Prices offsetting higher bond yields. Key coat quotes on Interest Rates. Majority of participants noted a stronger outlook for Economic Growth raised a likelihood further gradual policy firming would be appropriate but members agreed strengthening in the near Term Economic outlook increase ad likelihood that gradual upward trajectory of the federal funds rate would be appropriate. That is it why they added the word further to the statement. Further gradual increases. Quotes on tax reform impact to the economy. Quotes, several participants expressed considerable uncertainty about the degree which changes to corporate taxes would support Business Investment and capacity expansion. Ing of on wage growth, key quote. While some participants heard more reports of wage pressures from their business contacts over the interveeping period, participants generally noted few signs of a broadbased pick up in wage growth in available data. That said, a number of participants judged that the continued