Moving the markets. Record low bond yields, new attacks on viacom, and at merck shares are rising in the premarket. But obviously a lot of review to go over on what the fed said yesterday, jim. Yesterday was a kind of admission, it wasnt even tacit, that maybe were in a kind of different era, which is so interesting because a couple months ago they certainly didnt think we were. And thats going to cause the id say kind of a grumpy attitude toward the fed, people who say theyve lost it because they now feel look theyre swinging in the breeze, the pundits. Wow. All of a sudden were much weaker than we thought, previously much stronger than we thought and were data dependent. It does add up to something that i want to step away from and say its good for stocks. So we can talk fed policy, as if we are indeed fed members. Ill let you be from i dont know, some west coast man and ill be a philly thing. When it clears, we can go back to clorox and back to look at Procter Gamble after these pro
Wellcome to squawk alley for this thursday. Kayla tausche, and along with vanity fair correspondent nick out west. Good morning to you. Good morning. And now, redstone says that he no longer trusts the ceo, and he says that he is determined to trust in the company and not the shareholders to do the best for them. And so yesterday on fast money we spoke to tom freston. Well, the lawsuits and Everything Else has been a side show compared to the real story which is the fall of viacom from grace over the last several years that have been really one of the leading Television Networking companies in the business and now it is falling to a level below the peers on almost every metric plagued by all problems including the creative departures. And freston is outspoken, nick, and how does this move the ball forward . To what degree will we see any resolution in this saga . I, all i can hope for is that there is someone in that building with a video camera filming this whole thing, because it is
We have a guest with us today. And now, yields are falling, and it is following a fed meeting that did little to bring investors clarity and leaving them dazed and confused. Pete, is that what this is about in the wake of what the fed said. Yes, and the fed has not given anybody anything they are looking for, the confidence and the uncertain factor, and ms. Yellen brought it up, and of course, next week, the brexit, and what is happening in the market . Explosive move in the volatility index up 40 in a week, and it had been running around for a low rate for a long time, and measuring between 13 and call it 14. 5 or somewhere in that range, and then suddenly, we get the spike and we are into the 20s and it is a much more difficult trade for all of of us, and that is a little bit of the sense of where are we in the terms of the uncertainty of what is going on right now, and then next week we will get a lot of things answered. And colbert, welcome back into the crew today, and how should
First, we start with the fed officially standing pat, so we asked the question, steve liesman, is the fed on hold forever . What do you think . I dont think its on hold forever, but i can understand why you would ask that question. I think the story here is that the fed probably not going to move in july. I saw a ubs headline saying, take the summer off. We are. When it comes to at least whats going to happen to fed policy. Janet yellen and the fed keeping the rates on hold today, and not suggesting any big hurry in terms of hiking Interest Rates. But the big story today is what they did to a their outlook for rates over the next several years. And they brought them down quite substantially. We suggested all day, including yesterday, that that was probably what the fed would do today. I have to say, i was somewhat surprised. When you look at the chart of what the fed now says its going to do with Interest Rates, look at the last five meetings. Now at just 2. 4 for 2018, that had been a
News. It was down 3 . And remember this follows 3. 5 earlier in the week. The shanghai was down half a percent. We had a boj viewing party last night. You didnt make it. You look tired. We ordered sushi and got some red bull. Just to, you know, full effect. You are trending on start saying sushi and stuff like that. I dont want to get too stereotypical here. Well, you know. It is a safe zone. Since when . Im with becky. Since when. Lets look at the futures, they are indicated lower follows the first five day losing streak since february. When did you come one that though . That borders on a shtick for you this morning. A stick . You told me i wasnt allowed to use yiddish. So the mid western version of stick. I was up we had a viewing party. Lie. Coming one things now. Try good. Youre doing a stick. Because you i dont you really didnt stay up. No see, you aric making that up and you are going for a laugh. Ive learned a lot. Because i was going to pull away. You could get me. U. S. Stock