Report. A bit of a mixed bag. It is consistent with some slowing. The manufacturing slowdown is continuing. But it is happening at a very gradual pays. It is not a falling out of bed moment. It is not flashing red, the economy is falling off a cliff number to me. Not falling off a cliff. Not much of anything to me. The market is priced in for an october rate cut. We have to pencil in a rate cut in october. For those looking for a decisive message, a deterministic one, they did not get it. Around theoining me table to discuss in a new york are our guests. I want to discuss what changed this week. Nothing has really changed on the economic backdrop. Did have some week numbers there, but an on track jobs number and an upward revision for august. We have been on this trend for a while, where revisions have been up. It is a weird environment where we are in, where an employment continues to be strong, and the probability of a fed cut winds down slightly, from around 90 to 75 or so. The fed
Deal as President Trump says he is scheduled calls with president shi xi jinping the highest this session was 334 on the dow coming up, gregg lemmkau live and exclusive. Lots to talk about with him on the market merges, ipos and the outlook for the rest of 2019 joining us for the first full hour of the show, keith bliss. Crazy week, now only down one percent. Talk us through the roller coaster five days of trade, the key levels that we have and havent touched. Sure. So overreaction. My theme has been overreaction and you certainly saw that in the monday night going into tuesday trade, a lot of what you have in the market today is a lot of program and algor rhythmic trading as opposed to humans die jesting the information. So you saw that overreaction we actually touched another oversold level that we had picked up from august 5th. So we were already oversold. That just went further down and the yield curve, the 210 inversion was only a basis pointer too and the amount of selloff was ce
Recessionary. Weak Economic Data. The jobs data was disappointing. Our payrolls are week overall. Pmi came out and it was not great. It was the biggest missing since december 2008. The u. S. Economy is showing signs of fatigue. An economic slowdown. It is still growing. Trailing data is ok. Growth in the states is strong. The outlook has got the Downside Risk with other indicators of people being nervous about trade. It accelerates the pattern of a late cycle. You are in a very late cycle. I think we are closer to the end than people realized. Jonathan joining me around the table now, great to have you with us in studio. The trailing data is ok. What is the outlook look like from your perspective . The trailing data is ok, possibly more than ok depending on what you focus on. However, the headlines and the market in general love to focus on the negative. I do not see as many headlines around the fact that we have had some of the best ism application numbers in a couple of years as we s
Rates soon. I think they should. A lot of the states are recessionary. Weak economic data. The jobs data was disappointing. Our payrolls are week overall. Pmi came out and it was not great. It was the biggest missing since december 2008. The u. S. Economy is showing signs of fatigue. An economic slowdown. It is still growing. Trailing data is ok. Growth in the states is strong. The outlook has got the Downside Risk with other indicators of people being nervous about trade. It accelerates the pattern of a late cycle. You are in a very late cycle. I think we are closer to the end than people realized. Jonathan joining me around the table now, great to have you with us in studio. The trailing data is ok. What is the outlook look like from your perspective . The trailing data is ok, possibly more than ok depending on what you focus on. However, the headlines and the market in general love to focus on the negative. I do not see as many headlines around the fact that we have had some of the
The job state was disappointing. The job data was disappointing. Pmi came out and of was not great and it was not great. The u. S. Economy is showing signs of fatigue. An economic slowdown. Trailing data is ok. Growth in the states is strong. You have other indicators of people being nervous about trade. A lates difficult in cycle. You are very late cycle. I think we are close to the end and people have recognized. Jonathan joining me around the table. Us into have you with studio. The trailing data is ok. What does the outlook look like from your perspective . The trailing data is ok, possibly more than ok depending on what you focus on. The market in general focuses on the negative. I do not see as many headlines that we have had some of the best Mortgage Application numbers recently. Every time we get a slightly weaker avp number, at a time when we get a 50 year low in terms of unemployment, et cetera, the fact that there is a sentiment out there that persists around the fed cutting