It was followed by 1. 4 . In august, economist were looking at that to come in at. 5 . Another sign economy may be slowing. Lets check on the s p 500. It has been off one half of a percent. That number should be. 3 right now. The data is moving as it should be on this board. At 172,d on the 10 year receiving a selloff globally with japan. Td ameritrade is Office Market cap. Charles schwab has eliminated fees in a surprise announcement on stocks online. Etf Trading Online, options cost if he Trading Online has competitors down big. E trade is down 20 . Credit suisse says the competitors are hugely exposed to fees and schwab is a racing fees. Erasing fees and apple is up 1. 7 today. It had been lower in the premarket. Apple is not getting a buy when it comes to terrys. Comes to tariffs. Guy this is what has been happening with japanese pricing over the last month. Higher in yield overnight. There was a bad option in japan of the 10 year yield. Howpension is reclassifying aspects can be a
Market stampedes to the bond market. Huawei may be collateral damage. We hear from the companys chief market officer. Sophie Financial Markets taken for a ride on produced terror threats on top of reduced trade when it came to manufacturing pmi. 2 from gains the losses. Check out the dow weighed by. Tocks like nike u. S. Futures hinting at further losses earlier in the asia session. Switching the board to check in on treasuries, rally across the curve sending 10year yields not seen since investors are as boosting their fed easing bets. Of thatd a strength string of we get Economic Data yesterday with japan and south korea pmi in that contractionary territory. An addition, we had news out of hong kong that retail sales had its fifth straight monthly decline. Were also awaiting another slew of earnings from asia. Want to check on the yen here after that trade news. Trump tweets announcing a new 10 tariff on 300 billion in chinese imports, not yet an effect. He goes into effect on january
Washington says the meeting was constructive. Joe biden is the front runner of the democrats second night of debates. Breaking news out of south korea. We are getting cpi Inflation Numbers missing expectations for the month to month. It is contracting 0. 3 . The second month seen cpi inflation in south korea track in the negatives. In expectation of prices to stay flat, but we are seeing deceleration monthtomonth. Year on year, it is also a miss. 0. 6 tion accelerating instead of the expected 0. 8. Also deceleration from the previous month of june. Year on year growth of 1 acceleration of core cpi year on year. That is a little above expectations, but the numbers that matter, monthtomonth and year on year are missing estimates. Monthtomonth deceleration and deflation for a second consecutive month. We have seen pressure given oil 14 es, brent crude was down on average. This could put pressure on prices. We still have to say, very well below that target of 2 . Lowerven after the ok thei
Here today. That tai chi manufacturing that we got a couple of minutes ago was the weakest print we saw this year. It was still0, but showing the gradual slowdown we are seeing in global pmi. The official move that we saw in europe, in the u. S. As well, which is really supporting the Global Growth concern yard of that we are seeing. That is why we are seeing the yen up, 10 7. 60. Asia fx weakening with the dollar a little stronger. We see commodities. We are continuing to see some red when it comes to steal futures in shanghai copper. Lower by 9 10 of 1 . Be with thisng to rally. Looking at the u. S. Side of things with the 10 year yield below 2 . We are seeing for asia bonds as well. I will show you what else is going on, we mention about the u. S. Tenyear. Anese through three yield three year yields. We just got the news about the boj cutting purchases of bonds and a 35year range. Its the First Time Since 2018 that they have done so. They were trying to address the flattening yield
Falling back below 2 . As i said, the s p 500s essentially flat at this moment. The dows just lower the nasdaq down 0. 1 the russell looks down a full percent as regional banks down almost 2 . Joining us for the hour today to break down the Market Action is steve grasso from stuart frankel. Great to have you with us. Good to be here whats your take on this sort of softish session only a day or so after great positive trade news . You have a holiday week, so you have a shortened, abbreviated week you have people looking for either you had a rebalance on friday, you had end of quarter, end of month, end of week. People are starting to take a big, deep breath in. Seeing where they want to reassess, and and redistribute their Equity Holdings its all about the fed people are on fed watch right now. Thats really the only thing that is taking up the brain of a lot of the Market Participants right now. Even though trade is all over the headlines, its still fed. Fed still cut, but the trade tru