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Balloons increasing 26 to just a little less than 1 trillion. Joining us for the hour is chris verona, Strategas Research partners here we are, we can see it, we can taste it, a new record high and everyone is really calm around hiere. The lack of euphoria is telling. Theres this great divide between perception and reality what are the headlines impeachment, recession, china, pmi under 50 but the reality is, signs of cylicality are starting to show up in every corner of the globe. You see it with semis and with trucking stocks, german dax is at a 52week high, the banks are acting better. I think the tone of the market is so different than what the tone of the front page of the paper says every day and i think thats bullish great to have chris with us for the whole first hour of the show, particularly given that we might have that record alltime closing high for the s p 500 the key level to keep an eye on, by the way, 3025. 9. ....
And we got better than expected manufacturing data here in the u. S. , but the imf did lower its Global Growth forecast joining us for the hour is steve grasso from Stuart Frankel you know, we hit these highs earlier in the session didnt hold on to it for very long what do you make of todays action we didnt hear about impeachment. We didnt hear about china trade, really. We havent heard much about a lot of things, but we did hear mostly about were earnings so the market wants to get back to something that they can look at and say, its binary. Either services it was a win, it was a beat, they got it higher or lower and were going to run with the market there. Not enough to make new highs, but were on our way there with earnings, i would guess. It is interesting to look at companies fundamentals, actually push the trade headlines aside just a bit still hopeful, perhaps but let t ....
Bank. Micron issues a trade warning. Shares down this morning on a disappointing outlook and ceo san yjay mehrota joins us in a e minutes. Tell the story. Im sorry to interrupt. No problem. Eagles won last night i can do whatever i want. And half of the debuts trading below their offer price. Does that spell trouble for the ipo market wells is up in the premarket after naming bank of melon Ceo Charlie Scharf he held the top job at visa. Wells plagued by scandals struggled to find a replacement. Alan parker will stay interim until scharf joins the company the Conference Call is under way and well bring you developments on that. He had quite a run at visa and left for geographic reasons really. Yes, he did able to stay in new york, his family still going to be with him. One daughter right there, another one close by, folks nearby, very much dedicated to them i got to tell ....
Want to get your calls and comments on the style of President Trumps Foreign Policy. You can join in. If you support his approach is 2027488000. If you oppose it, 2027488001. You can also join us on social cspanwj cspan at or facebook cspan. A very busy program to talk about including our look at 400 years ago the first ever the first africans arriving in virginia. There were slaves in other parts of what was then the spanish colonies in florida, we will focus on 1619 later in the program. He will begin with the president as he arrives at the g7 summit. Headlines, trump orders u. S. To stop bleeding china. The president ordering companies to find an alternative to china to do business after the country slapped tariffs on u. S. Imports. Trump has no legal of four authority to force companies to abandon china and it was unclear what he could do to weed out packages containing ....
More solid, with the exception of what is happening in hong kong. Yvonne saw another violent weekend. Police firing tear gas at subway stations. Hong kong relatively stable when it comes to the hang seng. Cathay pacific, seeing one of the biggest worst sessions we have seen. Lets talk about what would watching in terms of currencies. Dollar china below that 710 handle. Comingseeing strength through in the earlier losses. The close on friday was not pretty. David we took one of the three levels we were tracking, which would not take you back to the referendum. Took out 121, 10 speak looking at 11986. Watching those levels very closely. Iron ore is continuing. 28 depending on what contract. Still holding up at the 1500s. Yvonne lets talk more about what is moving on these markets. We saw stronger fixing from the pboc, where the currency headed now . What the pboc is signaling is aat it is trying to oversee steady, controlled weakening of the currency. Thats what the fixes have shown over ....