Lost trillions of dollars to china. We dont need china. We would be far better off without them. President blasting the country for stealing from the u. S. For decades. He is now ordering companies to do business somewhere else. The president tweeting this. Our Great American companies are hereby ordered to immediate start looking for an alternative to china. The president continuing his crackdown on china over illegal fentanyl being funneled into the u. S. Ordering Companies Like fedex, ups, amazon, and the u. S. Postal service to root out illegal fentanyl being sent through their services. Trump saying this, they need to search for and refuse any fentanyl delivers. The president also said president xi of china promised to stop the drug flow but did not follow through on that. So, while President Trump continues to unload on china he is also promising retribution for the retaliatory tariffs. But his tray advisor, Peter Navarro struck a different tune on fox business earlier today sayi
Departure of the ceo, flint, in the role, amid a report that thousands of employees are set to lose their jobs. The yuan slides to the lowest in a decade, with the move being called normal, promising to keep the currency stable weve got some final pmi numbers for the yoeurozone it is in line with the estimate we got a few days back june number was 52. 2 this is a threemonth low. Services pmi is 53. 2 thats slightly lower than the flash of 53. 3 and slightly lower than the june final number we saw of 53. 6. Interesting looking at the services new export business down at 49. 2 into contraction territory, in line with the flash and very slightly lower than the month in june of course, this comes on the back of that very disappointing german pmi we just had a few minutes before pointing to a composite pmi number for germany of 50. 9, below the 51. 4 flash, and lowest in aggregate since june 2013 for germany, the lowest numbers since june 2013 for the composite. Euro zone as a whole, pmi co
Announcement that the u. S. Was delaying those tariffs. Joe hardware names, really good day. Caroline best buy, your best performer on the s p 500. Seemingly christmas is back on. Abigail, what are you watching . 500 in relation to its 50 Day Moving Average. Even today, we are still below that. That is fitting. The volatility we had in the early part of last year that was induced initially by the Solar Panel Tariffs put on by President Trump against china. Daying support on the 200 moving average. Longterm buyers stepping up. Fourth quarter, really ugly. Day,in may, below that 50 then a test of the 200 day. At this point, it looks like we still are probably going to test that 200 Day Moving Average and you could make the case that the s p 500 is confirmed for a bigger drop. Didstocks did search surge today but the yield curve was moving flatter and flatter. The spread between the twoyear and 10year treasury yield, it twod lower today to roughly basis points. Right there on the cusp of
Worldwide exchange begins right now. Quit playing games with my heart, with my heart, with my heart good morning, good afternoon, good evening, ask welcome from wherever in the world you may be watching. I am brian sullivan. Yesterday the second best day of the year for stocks, the dow soaring 500 points youre probably wondering is that rally going to follow through today . Lets go ahead and find out. Right now at this 5 00 a. M. Hour, we do see a little bit of a continuation of yesterday, dow futures up80 points. Were not soaring on the futures. No ones saying that, but we are not seeing that drop that we had in may every time we went up we take two steps backment not the case today. We are on green across the screen for bonds or bond yields backing up a bit yesterday the fed of course all but came out screaming it might lower Interest Rates this year the benchmark tenyear not reacting too much, still very low, only five bips, basis points as we say in the biz. A similar story in asia
Believe it or not, this is actually the kind of decline you want if you are a bull. We cant keep realallying on the news over and over again. President trump and president xi could hammer out a trade deal. Rallies need more and more fuel. Without it you end up on a day like this one. It reminds us that stocks can go down, too. So what did make today so soggy . All the red hot cloud based enterprise stocks, they were dethroned today. Yesterday sales force told us it was buying Capital Software for a huge premium. Everyone figured that every company in the sector and cloud kings would have takeover biz. These stocks deserve to come back down and they did. They got what they deserve. Helps businesses. Work day just reported terrific quarter down seven. Cooper software, like them. Amazing companies, amazing companies, also stocks get hammered. Think of it as cloud royalty being led to the yesterdays cloud rally was all about froth. Anyone in the industry can be a target. I think thats absu