Listen: Trump tweets about phone call with Xi Jinping, stocks rise
"Awesome. That's right. Trump's tweet saying he had a good call. China's president Sheikh that sent stocks soaring. The Dow up more than four hundred points at the highs of the session. The s&p five hundred just one percent away from its record and this head of tomorrow's big fed decision where investors are expecting of supply. So that's a question for tonight is fed about to release the doves and is everything awesome. Once again, God love the Chrissy Teagan saw. It's one of my favorites. Ringtone ringtone. Yeah. It is. It's called me five o'clock. I don't think. Everything is awesome at all. If everything awesome utilities wouldn't be making all time. Highs, you wouldn't have twenty four percent of global sovereign bonds with negative yields. That's just my world. But through the prism of the s&p five hundred everything is fantastic. You know, President Trump could say whatever he wants great call with president. She I'll say it again. I don't think we're any closer to a trade deal with China now that we were six months ago. I may be proven wrong in a week. It's happened before. But the fact that the markets here is all in the back of this hope that somehow the fed has our back. And I think it's madness the federal emergency cut tomorrow. I think that's madness at the highest level. The fed doesn't deliver on any level. Even just taking out of the statement. I don't know what happens. Yeah. There's a big risk. I mean, the markets don't a lot of the Fed's work for right? It's priced in these cuts yields are at Lowe's. Look at bond yields in the US ten year bond yields are the same as Italy bond yields here. I mean, the world is gone gone sideways here that being said, if the fed. Doesn't come out with a dovish statement or a dovish kind of tone to it all tomorrow. I actually think the equity market is at risk, because it's built on this assumption that we're going to get more stimulus out of the out of the Federal Reserve. So I think fed, that's preemptive in one that's going to be cutting tactically, which is not really in their mandate, but they had done this before is very good for equity markets fed that has actually reactive, and needs to follow really where we're going on the leading economic indicators business. Competence that New York fed to yesterday, which was low since October twenty sixteen and is closely correlated with the ISM. So these are things that the fed would probably be saying, hey, this is a reason to move, maybe tomorrow. They're not gonna move tomorrow. But I'm just telling you that if they're now waiting to July and then possibly even September. That's a fed that the market doesn't like. So I would echo, what's been said already that, that markets have priced in the fed at this point. And I think it's a little bit of a concern to think that the fed can give you more munition tomorrow, even though they do need to begin to restate where they're going to be in July."