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Welcome to squawk alley. Im Carl Quintanilla live with Morgan Brennan at post 9 of the New York Stock Exchange. Jon fortt has the morning off. The markets have lost some gains as all eyes are turning to jackson hole Steve Liesman is there as the feds twoday annual economic symposium kicks off. Hey, steve hey, carl this is from our icon. But the september fed fund futures has now flipped from a small probability of a 50 basis point cut in september to a small probability that the fed remains on old just to be clear, a 98 probability that the fed does cut by a quarter, but it was like a 2 probab...

The Halftime Report starts right now. Welcome. Its good to have you with us on this tuesday our Investment Committee, joe terra nova, johnna jerian and marian bartell lets begin with apple second best performer in the dow. Stock topping 213 this just has been quite a comeback, jim. We had that big selloff the day that the latest tweet on tariffs came out about 2 1 2 weeks ago steadily climbing black. A barometer for the market, a little bit of give from President Trump on china negotiations first there was the delay of the tariffs, then there was the talking with the apple ceo tim cook on frid...

Right now. Its great to have you with us on this thursday. Our Investment Committee stocks giving up big gains the dow is up more than 185 points earlier in the session. The feds front and center. Policy makers are gathering as we speak if jacksonville Steve Liesman is there, speaking with philly fed harker his comments really impacted the markets here. Reporter yeah. I think maybe the key is this. That harker is not a hawk but his talk or his answers to my questions were somewhat hawkish. Heres what he said when i asked him, you know, where should rates be where should they go ididnt think th...

Currency with benign neglect in order to function as the reserve currency properly. And this is something we really have to take seriously in this particular environment trump can say whatever he wants politically. Mnuchin can say whatever he wants politically, but getting into intervention has always been a failed tool its never worked. And the concept that the Federal Reserve would cause it not to work by sterilizing is probably incorrect. Its not going to work in and of itself because nobody is big enough in that market to really drive the size of that market enough to have a noticeable imp...

Soaring today. The feds fight over the future playing out realtime in jackson hole the big focus turning to the fed champ powell, to his speech tomorrow morning lets go to Steve Liesman live in jackson hole for us we got a dose of fed speak today at least. We did. We had the First Official to speak at the annual gathering in jackson hole beneath the tee time but they didnt tell the markets what they wanted to hear about the need for deep Interest Rate cuts in the months ahead. I didnt think the cut was appropriate necessarily, but i went along with it to get back to neutral i am on hold right ...