24 Burst results for "Jay Pal"
"jay pal" Discussed on Bloomberg Radio New York
"In Sydney I'm Paul Allen And I'm Brian Curtis We're looking at gains here pretty much across the region with hanging index opening four tenths of a percent higher very modest gains in China with the main index there the CSI 300 up about two tenths of a percent We're seeing some solid gains elsewhere Doug Krista will bring you up to date and all the latest on that in a few moments Paul the head of the Minneapolis fed Neil cash carrier says the fed shouldn't overreact to elevated inflation He said higher prices are likely to prove temporary Here is cash carry on CBS face the nation I think both of these things the demand side and the supply side are going to take some time to work out But it's important from the fed's perspective that we don't set long-term monetary policy and adjust too much based on temporary factors even if those temporary factors take a little bit longer than we expect That is Minneapolis Faye president Neil kashgar He was hit here on Bloomberg And kashkari was asked about President Biden's pending decision on whether to reappoint fed chair Jay pal to another term kashkari said both pal and fed governor brainard are capable and would likely pursue similar monetary policies Boeing is optimistic It will soon be logging Chinese orders and deliveries on its 7 37 max Let's get the story from Bloomberg susannah Palmer The civil aviation administration of China the country's regulator signaled it is close to ending a more than two and a half year grounding of the 7 37 max The regulator posted a request last week for comment about the proposed changes and fixes to the jet in order for it to return China was the first nation to ground the max acting within hours of a second fatal crash in Ethiopia in March of 2019 and hasn't allowed it to fly since That halted deliveries to Boeing's largest overseas market Susanna Palmer Bloomberg daybreak Asia Soon China has raised about $953 million as it sold 335 million shares at a price of $15 Hong Kong 18 cents each raising about 653 million Another 300 million came.
"jay pal" Discussed on Bloomberg Radio New York
"Fauci on where we are in the process of getting a vaccine approved for children and I ask for his views on booster mixing and matching But first fed chair Jay Powell has the support that could win him a second term to lead the Central Bank More than half of the Republicans on the Senate banking committee are backing him But his most visible opponent is democratic senator Elizabeth Warren I caught up with senator Warren this weekend in Washington to find out why she is opposed to Jay Powell's renomination My view is he ends his term We put somebody else in place And I think the fed is going to be better off and I think our economy is going to be safer Okay somebody else in place Let's talk about who that somebody else might be Are you talking with a White House or all giving them any suggestions I mean you've told me that you think leel brainard for example you've read some of her writings You've been impressed by her I'm not going to talk about private conversations My view on this is right now the question is Powell denominate or not renominate and I am in let's not do this Are there other democratic senators who are with you in that position We heard you at the hearings I didn't hear shared Brown take a position exactly Some Republicans have come out and said they support Jay pal Are you hearing from some of your colleagues at least be open to resisting Jacob You know I never want to represent anybody else's point of view But I am not the only person who has been concerned about his approach to regulation You know and I just want to put this a little bit of context The way I think about this I think back to 2007 2008.
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"I the federal reserve decided not to tighten here although they talked about the future because they don't think it's appropriate to raise interest rates while unemployment remains elevated especially for historically disadvantaged groups like african americans. Although you don't to the reporters talk about that. Jay pal doesn't want to leave anyone behind. He knows the delta variant is way on the economy particularly on these the class of people that just mentioned and he. He's not too worried about the cost of keeping interest rate. So he's worried about people not sharing the prosperity. I like that. He's going to remain accommodative until the labor markets in better shape and that's been consistent in saying along. Now you're going to hear from experts tomorrow. And even today we think jay's won't because the inflation it's raging right now could do real damage to the economy long-term they'll wind that inflationary pressures that he's saying that can be abated one day like the semiconductor storage aren't simply solve by raising interest rates and question that demand for semiconductors can have a shortage nobody's buying says emptying about a lot of skyrocketing and plastic natural gas. Look if people stopped using if they didn't have any money if they were hurt then they would use less the product and the spies would therefore become more about a full inflation with end. Pal is simply to them blind death and dumb to everything. That's really happening. In the country. They see four plus percent inflation as dr national emergency and they think he's nuts for allowing you to continue for boost employment me. I don't care what any of those people think. I don't even care what i think. At least when it comes to monetary policy. I only hear what j. path thinks because he runs the fed he's got a little divisions. We have nothing. He doesn't have to listen to anyone except for his fellow open market committee members. Not that they even really matter. Although some of some of these guys seem like really good stock pickers visually. If powell wants tightly ever remarked to help poor people any things that can happen by keeping rates low. Well that's what he's gonna do doesn't matter what any of these commentators have to say about it. They can trash him say he's public enemy number one and make specious arguments about how inflation hits the poorest people. The hardest never mind you can say the same thing about unemployment. None of that stuff matters to the fed. Were really j. Personally i agree with j pal but again my opinion is also irrelevant here. I know that that's how you should be thinking she j. He's got the juice now. Let's circle back to stop working. There are plenty of investors. Thought powell crumbling given into these inflation nieces because they see higher prices have. We're the figure two. They didn't expect he'd be dismissive of their views. Here's even really want to talk about tapering back on bond purposes until we get a better read on the damage from the delta variant palestine remarkably consistent news views but the inflation is just. Don't want to loose they don't like him they want a ticker tape parade. But if you were one of the inflation hawks. The fed would have to take a tough line today. Then now you gotta go buy stocks because pal listen to you and your pals put the concerns rest. She these these commentators actually run money for people. They can't refused to stocks because they disagreed with politics. They have investors. Those investors won't forgive them for sitting out on a rally that they don't think happen. You see the clients are not idealogues or at least they're not idealogues when it comes to make money so even though all these commentators keep coming on air and saying that pals outrages as long as he's running the fed and they're not these money managers need to buy stocks also underperforming and they're investors will bear from that underperforming funds at the first opportunity. Recall this day. Think there's reggie inflation or not so. These inflation is just now have to buy stocks cause passably refused to play by their playbook runs the fed they just money they lose. He wins tomorrow. They can and we'll start heckling him again but i got news for them janus tom brady he wears the rings. They're just grasping i jersey. After he's released the ball now. Let's deal with china like jay pal. Present she also wants common prosperi but he comes from a different intellectual tradition. The marxism-leninism maoism school thought china's been forty years using free markets. Lift people out of poverty but now the cracking down the wealthy in order to promote equality lately the chinese communist. Party's got an aggressive about ruining careers. Not killing just ruining the careers of people who profited from gaming or financial engineering recom- awry. But she hasn't tackled the obscenely rich property models because china's economy is very much driven by real estate as much as thirty percent. Then he gets his chance with this. Evergreen colossally horrible real estate conglomerate. That has three hundred billion dollars an obligation. I mean countries don't have that he made it clear that he wasn't going to bail out the company because they're reckless and they're run by at one point of richest manage higher now that costs a ton of selling everything related to child. Hey including the minimum mining oil industrial stocks. Even here even our banks cut hit despite the fact that they can't really do much anyway but stupid. Binding measures always think anchor tether to each other so they sold them anyway that stupid. I'm sorry i should not have used it. I should have said last night. Though person she he blinked. He decided to bail out the small lenders. That those the portland property from evergreen and look backs he didn't mean itself a big worldwide. Rally he knows. There's still some rich people who got away with this. He's probably furious himself then. He wasn't able to do a precision bombing of the rich four so instead he acted to stop contagion and the rich lived ever happily ever after. And so did sophomores. Everybody has got another bill coming due tomorrow. The one they owe farm bind owners. These foreign bond bars mostly from countries. That are totally in the china opium to them. They can't get away from it because remember. China is the second largest economy in the world and they're addicted to selling products to china. So they're not gonna care about these bonds they'll just take the hit. That's why despite what you heard in the press. The risk from evergreen never really was systemic. Okay because everybody wants to do this. China's over won't overlook losses now. Let's put all this in the context of i think sometimes imagery is powerful. Let's put it in the context of a bull. Okay book did you know. I used to have a bowl in his name. Was norman for thirty days. The cows always ruled the roost cows by the way women. Ball's men just well. You know where. I get female male. If thirty days thirty days but one day a month the bull showed his prowess for those of you. Who don't get this agricultural analogy. As much as i liked the house especially fine touch an ambush or that one day each month. The bull like j..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"I do these videos. Each pointing the street dot com with research director jeff marks and we talked about nucor my instincts my instinct said world. Hold it it's back to one seven. We got back even with the trust. Yes but then we talked about it. And i realized that was a huge mistake. That was total. Lisi thinking the only reason i wanted to lighten up on new court one seven because it was where the trust initially bought it. I swear that's exactly what i would have done. Had an. I talked it through with jeff. I'd just been in my mind. Power of lazy thinking buzek invest scheme of things with a stock trading nearly six times earnings and an infrastructure bill. Looking like it's going to be a sure thing. There's absolutely no good reason to help new cornell. I didn't have a fundamental reason. I remember technical reason. I just saw got back to even my gut reaction was to breath. Side we've ring that register but simply matter though what does it do with whether or not nuclear worth voting. What would be the point of that sale before you pull the trigger. You gotta ask yourself. Why the heck am i really doing this with nucor. I don't really care if the stock pulls back there's a trillion dollar infrastructure package. One the way that should ignites steel sales for not days not much but years to come. And that's what matters not where the stock is relative to your i trade. I bring this up because anybody can fall. Prey to lazy. thinking has the best of us. it's human nature to make poorly thought out emotionally driven decisions. This kind of thing is everywhere here. This morning i was several people. I leave honestly respective about. What were they talking. How the fed is dead wrong to keep rates so low after friday's fabulous import. That you heard that if you watch your network where you anything you popular hip. Toss roy half dozen times when one person is pointing said. The fed was apps. Obviously room another criticized. Jay pal for being oblivious to one of the largest job gains ever. Couldn't disagree more with them. But the chatter chatter begins to worry me. I mean i've been out friday. I figured the market would get crushed because the economy was too hot. Meaning the fed would have to tighten sooner than later but these jeremiah is against easy. Money were so effective. I looked at the biggest winners to find games registering. And i settled on. Sell some kosco. Yeah big gain sell at one if rates are headed higher because the economy hot. This relatively expensive retail. Tom could have to go lore again. That too is the power of lazy thinking. I who the heck were these commentators to make me to anything. They've been dead wrong for ages dead wrong about the fed. I think jay pals doing fine job. Under extraordinary circuses. We're wacky with. The state of florida is trying to keep the region cruise lines holds from sailing because the company wanted to.
Data reaffirms expectation for a slowing in consumer spending
"More we are so lucky to have Danielle DiMartino both in the studio with us here chief executive officer and chief strategist of quill intelligence also a Bloomberg opinion column as a former fed employee in Dallas and you know I really want to focus on the consumer we got a number of data today I got a point consumer spending came in lower than expected and the Bloomberg consumer comfort index plunged the most on a weekly basis in eighteen years in eight years and yet Jake how this put all of his eggs in the one basket of saying we're not going to cut rates as long as the consumer hangs in there it's a big bet on his part I mean he really really is not diversifying fed policy let's put it that way all right so I take it just from that come along that you think that the fed you becoming more it's not so much the rate will look the economy is slowing and it gets tiresome to listen to these press conferences when Jay pals clearly in denial yes interest rate sensitive sectors actually let's just say sector because autos really haven't budged in fact auto buying intentions in the latest consumer confidence data are crashing so the only thing the only needle that's been moved by these rate cuts in housing that's it and and we're seeing as I was as I was just thinking least worst we saw in the bank earnings reports that the credit card spending rates have been coming down revolving credit has been a tremendous support for consumer spending we're seeing the saving rate take up we saw that this morning it took up to eight point three percent consumers are clearly battening down the hatches were seen deposits cash savings increase as well so I think the consumer senses that there's something amiss but again that's where Jay pals got all of his bass all right there are two questions implicit here first question well cutting rates actually encourage consumers to spend more no there it it's it's now I I don't think it will and that you know might mean he's been very good at press conferences about drilling him on this what are these rate cuts going to do I think the rate cuts have more to do with the plumbing in the financial system because the fed is buying treasury bills like there's no tomorrow and money market funds are arbitrage in this by parking their money at the fed where they get an additional ten basis points it's boxing the fed into where they have to continue to lower rates okay the second question that I have is regarding that credit card spending is the biggest banks I read the heard on the street column in the Wall Street journal about this and it was not that it is declining it's just that the growth in the credit card revolving credit has been lower right coming down and I guess they're two ways to read this you could read this as a tempering of the economy which everyone knows that it's slowing and you could or you could look at it as out waiting consumer confidence and a sign that things are gonna turn south which is the correct read I think that consumers know that there is slowing let jobless claims of barely moved by the breath of states that have increasing jobless claims has increased from about a third it hit seventy five percent in September we're running about fifty one percent now of state in the country with rising jobless claims and to your point about growth in credit card spending slowing the average weekly earnings will get new data out tomorrow morning but in June it was running at a four percent right in September it'd take down to two point six percent that's the paycheck growth it's not so much that income is declining it's that households know that their paycheck is no longer growing at the same pace so it's it appears a chairman pal and some members of the the dovish fed if you will are thinking about it it's all about the jobs and everybody's got a job on points at its all time low briefly tell off the sidelines a lot blah blah blah blah so tomorrow what's the what do you look at the cut through the blah blah blah tomorrow the jobs number so I'll be focused tomorrow on the sectors where we're seeing job growth if you looked inside the internals of the eighty P. report yesterday one sector financials that was the only one where you saw any growth of any kind and super large companies over a thousand place otherwise you name the sector contracting and you name the size of the business seriously slowing growth so I'm going to be looking at where jobs being created we've seen in the survey we've seen in the soft data that service and employment indices have come down with in in the case of market it's a ten year low so I'll be looking to see what types of jobs are being created dig into this consumer comfort data and you will see that the highest income earners their confidence has been coming down mom at a much faster pace than the people who they employ who still have high confidence are the is the consumer a leading or lagging indicator absolutely lacking every recession like sixty three percent of post war recessions we have been in recession with with expanding consumption it is not something that you look to to see where the economy is headed it is something you look in the rear view mirror to see post facto we're cooking what did you want to hear from chairman Powell yesterday that you didn't hear I wanted to hear a lot more about the repair facility I wanted to hear a lot more about why he contends that it's not quantitative easing just because it's at the at at the short end of maturity curve I don't think there were enough questions that were asked and I think that his intent and his Cinderella wish is to have a nineteen ninety five nineteen ninety eight redox and be Alan Greenspan to where the economy just continues to expand after three rate cuts but in ninety five we were at the beginning of an economic expansion in ninety eight we had a massive hedge fund blowing up these were idiosyncratic events were not there we're deep deep deep into this economic expansion and I would have preferred to have seen a little bit more about him saying no more rate cuts but by the way QB's blasting right king of the Martinez thank you so much for joining us really helpful Daniels the CEO chief strategist of quill intelligence also a Bloomberg opinion calmest giving us her smart thoughts on what we heard yesterday from chairman Palin the fed and what we might be looking for to what we need to focus on tomorrow with the jobs number of course Bloomberg radio will cover the jobs report in full as we
Powell says there’s no rulebook for trade war, pledges to act as appropriate to sustain economy
"Interestingly early enough. This was a week when what the Federal Reserve did was less relevant than what chair Jay Powell said there were other things said about this and the global economy. Let me this week and so now we are going to say some things we being genus like the New York Times Gaye. Davidson is at the Wall Street Journal everybody I Juno. Let me start with you and chair. Powell al and I want your reaction to this thought the idea that does seem to be gaining strength out there that the more Jay Powell talks the less clear. The Federal Reserves Intentions about this economy discuss. I think that might've been a little bit what he was going for this week so yeah. I kind of think think I was talking to a bunch of investors about this yesterday and today and I think that the consensus is that he didn't do that that of a drop this week so basically eh pal hasn't kind of tough job right now because they're setting policy based on trade policy which is highly uncertain and you just never know what's going to happen with it in so. I think what the the Fed wanted to communicate this week which just that they don't know what happens next. They haven't decided for sure. They think it could be a rate cut. They don't know when that's going to come and they don't WanNa guarantee that it is going to materialize in so I think Powell went out trying to convince the markets that they really don't know and I think he was pretty successful at doing that. Wow Kate Davis. It's in what do you make of that and also this growing idea it's coming from the head of the ECB and it's coming from the OECD store yesterday on on how people are beginning to say look fiscal fiscal policy makers that is politicians. You GotTa do something because bankers can't do it all central bankers yeah. I think I think that gene is absolutely right. I thought one of Jay pals responses was was kind of funny. He was sort of asked. When do you know whether you're at the point where you need to cut rates further when you you've cut them enough when he sort of said we'll we'll. you know when we've done enough. We'll stop I mean he he really didn't give I think it was intentionally vague but yes on the on on the Fiscal Policy Front Powell joins a long line of Fed Chairman and women who have argued that fiscal policy makers need to do more if they want to see more economic growth that the Fed can only do so much to sort of support. GDP their goals are maximum employment in stable inflation. Shen in generally that leads to you know pretty good economic growth if things start to go self though in the Fed doesn't have some sort of magic magic tool that they've just been holding onto that we don't know about that's GONNA juice. Everything fiscal policy makers need to be thinking about the effects of their policy and so specifically right now. We're talking about trade. That's weighing on things Gina. Let me ask you this about a report that came out from the New York. Fed they basically said Oh look consumers. Are we're still strong. Businesses aren't doing much the question has to be how long does that endure an and I know I asked this a lot but holy cow show but I mean it's the fundamental question about this business cycle because the consumer is seventy percent of the American economy and they haven't cracked yet and that's why we have seen and such you know really persistently solid growth here. and I think the big question is how long can that process. Because what we've seen is some hints around the edges edges that consumers are getting a little bit spooked by the trade war you know the University of Michigan survey looked weak last month and the preliminary September numbers showed a little bit of a bounce back but it wasn't the bounceback you would have hoped for so I think the real question is you know those surveys tend to correlate pretty poorly overspending but if you would see it bleed over into actual activity of any kind of problem on your hands Kate about trade and consumers the president said today at one of those joint press conferences. He does with visiting heads of state. This was the Australian Prime Minister Head of government. I suppose somebody will correct me. I'm sure he said you know. I don't think I need to China trade deal before the election. If you do the regression analysis regression regression analysis and take the politics out of that do you by who I don't know I think that I think that we all know a lot. Let's let's say that there's not some agreement when Chinese officials come in early October. That's sort of the next big development. They're gonNA come to Washington. If there's no progress made then can you know as of now the US is still scheduled to raise tariffs on October fifteenth on a bunch of consumer goods. We already have tariffs on three hundred sixty billion dollars of of imports from China so excuse me not not consumer goods on the fifteenth by December Fifteenth. There's another round that would sweep in a bunch of consumer goods. I mean at that point. We'll be we'll be we have having tariffs on almost everything from China and it's hard to imagine you just talked about the effect on consumers. It's kind of hard to imagine that you know being sustainable sustainable through an election year so I I have to think that at some point the administration except some kind of deal okay so gina. I wanted to do one last thing with you. You've got this is. GonNa Ridiculous. You're going to have forty five seconds to do it. This thing that's been happening. in the what's called the overnight repo market right these banks lending to on on the new one another. Sh- super short term in order to to make their books workout. We did an interview on it on Wednesday. It's incredibly weedy but the reason I'm asking is that the New York doc Fed said today. It's GONNA keep making these emergency overnight monies available until the tenth of October. Are you stressed about this or is it normal ish. It's not normal so I think it's important to recognize that but it's not a reason for outside stress so basically what happened is the. Fed has been drinking. Its balance sheet for a long time which we've talked about and they got to a point where at very unusual moments when a lot of cash comes out of this market really quickly and there's a liquidity crunch bank serves us to step in to fix that but now bank reserves are scarce enough because of the Fed's balance sheet shrinking that they're not doing that and so the Fed finds itself having a couple of options. It can keep doing these as emergency operations. Would you WanNa do it can basically offer an option to banks where they can switch treasuries for reserves which it's talked about but it's not there yet and they would take watt implement or it can keep growing. It's start growing balance sheet again just a little bit and so it's really going to be a debate over. Which of those sort of your least worst option look. The least worst is how we're GONNA leave this holy cow Gina Smile he dons and Kate Davidson in the Wall Street Journal. Thanks you too.
Investors raise bets on Fed making two rate cuts
"If investors expected, fed sheep JPL to do nothing for the rest of the year that then futures would be at ninety seven point five. The fact that they're ninety seven point nine may not seem like a big deal to you, but it's used you change the dollars in this market means. The futures markets are forecasting at the pit bull start easing sometime in the next six months. Now that doesn't mean these speculators will turn out to be right, though, people who try to game, the fit are often wrong and disappointed lasted member. When Jay pal was making threatening noises about how he needed to raise it straits aggressively in order to cool down a red hot economy. Remember that the fed funds rate went to ninety seven okay. Meeting people were looking for three percent federal funds rate. Then the stock market cratered, the economy, slowed down, and pal changed course talking about the need for patients. But garner points out that it didn't take long for the futures market to go from into spending no change to spitting rate cuts by April, that funds rate futures were soaring. You can see see this big rally. That's all people making a bet. How would a bookmaker break it down? Okay. Garner notes that the fed funds futures are pretty an eighty percent chance. Eight o of at least one rate cut by envier stiffly. The futures Mark is priced in a forty percent probability of one rate. Cut a thirty percent chance of two cuts and a small group of traders are even daddy, one, three or more rate cuts really outside that's over over over and all this seems like an overreaction guada- believes that the fence fund feds is stuck between a rock and a heart place. When the one in we've got robust economic growth couple with barely any inflation. Take a look at that obviously employment growth is pretty good. That should be Nevada for the fed. So there's no real reason for them to do it. When the other when JPL tightened to aggressively late this year. It really did slow down the economy and it's possible if might be willing to. Mentally cut rates. If that means staving while recession of the room making horrible corners conference that we could see in multi. Pause from the fed both because it makes sense as monetary policy and because of what she sees in these charts when it comes to the fed funds futures. Both the relative strength index the RSI, okay? And the Williams percentage or oscillators are Ma in mildly. Overbought tur- you of that, this one's just a little bit of which just a futures have come up too far too fast meeting. This thing was was an overreaction. Plus, there's a powerful Cillian ninety seven point nine to ninety eight so she's saying there peaking, right here, right now, she's making a very big call people if Garner's right December, futures contracts should drift back to where it was trading at the beginning of the year round, ninety seven point five. Remember right now, this thing is baking more than one rate cut and that seems way too optimistic for and it's not just the pit funds futures. Check out this daily chart of the I shares twenty plus year treasury Tf right now. Long term treasuries are forty with multi your. Highs member when rates go down bonds go up in value. Okay. Yields on your multi your lows while long term interest rates are only partially impacted by the Federal Reserve, there's still some correlation. And as far as Garner's concerned, this chart is bad news for the bulls. It's just the treasury prices are poised and go back down. Meaning yields will go up meaning more rate cuts might not be in the menu. I told you how contrary this thing is, it's an extraordinary. Call by Carly, extraordinary
"jay pal" Discussed on Bloomberg Radio New York
"Avoided even if the battle hasn't been completely one the next hours will be difficult, but due to the courage, the facade towers did not crumble. Treasury Secretary Larry Summers is backing current fed policy. While suggesting the next move would probably be a cuss speaking at the pay dozen institute in Washington he'd great the market's betting that Jay pal is quite considerably more likely to lower rates than race. President Trump is on the fed is natively restraining US growth at a time of low inflation. Toubled OJ tycoon cows, go spacing yet more allegations accused of improperly charging Rennick for three thousand dollars schoo when he was chairman which was bought last year and was saved by Renner. After company offers us where the gun had been entitled to it as part of compensation. He remains in custody in Tokyo and denies any financial misconduct. President Trump has some advice the Boeing as the company works. Resolving software issues linked to the deadly crashes that killed three hundred forty six painful. Hey, suggest Boeing should try fixing seven three seven max, adding some new faces and rebranding it with a new name. He did admit he might know nothing about branding about said his opinion. Mike carry some white as he did succeed in becoming president and SpaceX has won a contract to play a real life version of the game asteroids for sixty nine million dollar deal is kind of Nasr's plan to show. It has the power to the flicked asteroid by smashing a spacecraft into one. At high speeds, the mission is scheduled for June twenty twenty one and the crop will travel to space abroad. Spacex falcon nine rockets it aims to hit a small asteroid eleven million kilometers from us about a year later. Global news twenty four hours a day on a tick tock on Twitter by more than twenty seven hundred journalists. And analysts in more than one hundred twenty countries. Amenable drool is this is Bloomberg. Would you? Call me.
Powell - Fed remains patient deciding on further hikes
"The program today, a vocabulary lesson from the Federal Reserve from American public media. This is marketplace. In Los Angeles. I'm KAI Ryssdal. It is Wednesday today the twentieth of March good as always to have you along everybody. The macro economic word of the day. This Wednesday is patient patient. It's an adjective able to accept or tolerate delays problems or suffering without becoming annoyed or anxious patient. What's that you want it in a sentence? Jor given the overall favourable conditions in our economy. My colleagues, and I will be patient in assessing what if any changes in the stance of policy may be needed patient fed Jay pal they're giving the central banks economic outlook and vocabulary lesson all in one explaining by way of wrapping up a two day fed meeting why they are not planning any more interest rate increases this year. Why no more rate hikes? Here's another sentence epilepsy. Participants continue to see growth this year of around two percent. Just a bit below. What we saw back in at the end of last year. Things are good Powell said, but not great. What gives well, here's my guess, you'd call it a sentence fragment. Right. And now we see a situation where the European economy has slowed substantially, and we're so has the Chinese economy, although the European economy more and just as strong global growth was a tailwind weaker global growth can be a headwind to our economy cheer Powell. Also did a bit of thinking out loud. I guess you'd says he processed the questions he was getting this afternoon. You ask about about tariffs. Yes. Miss german. Yes. We did the answer came in two parts in terms of our own economy. The the level of tariffs is is a relatively small the size of our economy. However, comma, we have since the beginning of the year and before really been hearing from our extensive network of business contacts a lot of concerns about tariffs concerns about material costs on. Imported products and the loss of markets and things like that depending on which industry, so there's a fair amount of uncertainty. It's hard to say how much of an effect. That's having on our economy
"jay pal" Discussed on KQED Radio
"Los Angeles. I'm Carl Rochelle. It is Wednesday today the twentieth of March good as always to have long everybody. The macro economic word of the day. This Wednesday is patient patient. It's an adjective able to accept or tolerate delays problems or suffering without becoming annoyed or anxious patient. What's that you want it in a sentence? Given the overall favourable conditions in our economy. My colleagues, and I will be patient in assessing what if any changes in the stance of policy may be needed patient fed chair Jay pal they're giving the central banks economic outlook and vocabulary lesson all in one explaining by way of wrapping up a two-day fed meeting. Why they are not planning any more interest rate increases this year. Why no more rate hikes? Here's another sentence. FOMC? Participants continue to see growth this year of around two percent. Just a bit below what we saw back in at the end of last year. Things are good Powell said, but not great. What gives? Well, here's I guess you'd call it a sentence fragment. Right. And now we see a situation where the European economy has slowed substantially, and we're so as the Chinese economy, although the European economy more and just as strong global growth was a tailwind weaker global growth can be a headwind to our economy cheer Powell. Also did a bit of thinking out loud. I guess you'd says he processed the questions he was getting this afternoon. You ask about done about tariffs. Yes. Miss chairman. Yes. We did the answer came in two parts in terms of our own economy. The level of tariffs is is a relatively small and the size of our economy. However, comma, we have since the beginning of the year before really been hearing from our extensive network of business contacts a lot of concerns about tariffs concerns about material costs on imported products and the loss of markets and things like that. Depending on which industry. So there's a fair amount of uncertainty. It's hard to say how much of an effect. That's having on our economy along those lines, by the way, President Trump said this afternoon when he was asked about the tariffs. He's got on China. He was asked whether and when they are going to be lifted here is the quote, we are not talking about removing them. The president said of his tariffs. We are talking about leaving them for a substantial period of time end of quote. So there's that last thing and then we'll move on. If this is Wednesday. There must be Brexit news. And a look there is here's Prime Minister Theresa may in parliament today. I have therefore this morning written to hasn't tossed the president of the European Council. Informing him that the UK seeks an extension the article fifty periods until the thirtieth of June. Can't see me right now. But I'm doing one of those both hands up shoulder. Hide shrugging things may goes to Brussels tomorrow for yes and other crucial Brexit meeting with the EU deadline is supposed to be March the twenty ninth week from Friday. Wall Street on this relatively heavy. Macro economic news day traders took a while to figure out how they felt about things. We will have the details when we do the numbers..
Fed's Powell says no immediate policy responses needed to economy
"CBS has just announced that Jay pal. The fed chair is going to be on sixty minutes this weekend in an interview that has already been recorded of CVS saying that pal sat down with CBS is Scott Pelley this week in Washington DC for what they're calling a wide ranging discussion that includes the fed chairman's remarks on interest rates the outlook for America's economy, and whether the US financial system is vulnerable to. Attacks. They also say that because the interview is on the at comes almost ten years to the day since Pelly interviewed then fed chairman, Ben Bernanke during the great recession, Burnett Anki and his successor Janet Yellen appear in the interview alongside pow in one of the interviews for the report to discuss how they advised him to handle the job and the criticism that comes with it that will obviously be fascinating viewing. And so interesting to see whether or not they discussed the criticism from here at sixteen hundred Pennsylvania Avenue from the president of the United States who's been very critical of J pals approach to handling interest rates at the fed. We'll see whether they get into that at all in the
"jay pal" Discussed on WAFS Biz 1190
"I Ford headlines from around the world and cross back out because we have very definitely. Thank you. President Trump says the US dollar is too strong on has taken a swipe at fed chair Jay pal as someone who quote likes rising interest rates rally in Maryland. The president said the US economy is doing well in spite of the actions of the central Bank saying I won't a strong dollar. But I wanted to all of that does great for our country, not a dollar that so strong, it makes it prohibitive for us to do business with other nations and take their business. Pro Brexit hardliners among Prime Minister, Theresa May's conservatives have outlined conditions supporting plan for leaving the European Union. That's according to the Sunday Times. It would be the clear sign yet. That they're prepared to fall into line and could open the door for the embattled British leader to win a Briggs outpost in parliament within days. The US says it's committed to making sure the South China Sea remains open to all kinds of navigation and that China does not pose a threat during a visit to the Philippines. Secretary of state Mike Pompeo said America will come to the defense. If it's forces aircraft or ships, come under armed attack in the South, China Sea, territorial disputes have been longtime issue between Washington and Beijing. Fabio Foxman has stepped down temporarily as the CEO of via like, that's the world's largest producer comes on the increase government scrutiny for failing to prevent a second deadly burst one of its hundreds of tidings Dan's in Brazil. Could we replaced by Eduardo Bartolomeo and executive director as interim? An Indian air force pilot captured by Pakistan has been released offering.
"jay pal" Discussed on WJR 760
"Up for Medicare Advantage plan. And and it's through a private insurance company. But they have to agree to certain reimbursement. Rates and certain medicine rates and all kinds of things after agree to. But that's why some insurance companies won't do it. That's why some doctors won't do it. That's why some hospitals won't do it. And you still have an option, but it is great because you're paying a lot less than you would have. If there was no such thing as Medicare. You're getting more out of it than you put in which is why here's a big problem Medicare right now, do you realize that the so-called trust fund will be gone by thousand twenty six revenues will only cover ninety one percent of the cost of Medicare though, and those revenues will decrease every year thereafter, and you realize that over the next seventy five years, there's thirty seven trillion dollars in unfunded liabilities of Medicare right now. Before we go Medicare for all what's increasing the cost of medicine right now the cost of Medicare is going up seven point four percent annually, Medicaid up five point five percent annually private insurance only going up four point seven percent annually. Government medicine is pushing the cost of medical care faster than private medicine. But yet you've got these Democrats that it's right, right? You got to do it. Is this a bold and ambitious plan said Representative Jay pal the democrat damn straight. It is because it has to be. Like, I said, it sounds great. Except for the reimbursement. Rates. Fewer doctors, fewer hospitals. If you don't have money for the best doctors and medicines in hospitals, and what do you think is going to happen won't be invented? What hospital won't be built what Dr won't decide to go there. They don't wanna talk about that. Because it just sounds great to say, it's free. I want to get into that in detail just second. And I got some great audio from Bernie Sanders on releasing his tax returns in on. What's socialism, really means a hit all that? And just a.
Janet Yellen says Trump doesn't understand macroeconomic policy
"I I'm gonna play you to a piece of tape that we had on this program on Monday. And then we're gonna talk about it. You're ready ready? Okay. Here we go. Do you think the president has a grasp of macroeconomic policy? No not. So that was me obviously and one Janet Yellen in her office at Brookings. We spoke last week we aired at this Monday. Here's Dan my question for you. Were you surprised that she said it out loud? You know, what I like how Dr Janet Yellen is really letting jelly from BK step at the forefront and let you know with really good. Jelly from vk is not playing around. I, and you know, what this is the thing. Here's the thing that so many economists so many economic strategies so many market strategist have told me over time. It's clear that the president doesn't understand how macroeconomic policy or economic policy or even monetary policy. I don't think he understands how fiscal policy works and for her to step out and say it, I think was really great because it's been the sort of unspoken secret. And, you know, everyone in the the president's cabinet everyone on, you know, on Capitol Hill seems to save these things, and I love the genuine was just wants to know. Now, he doesn't so Gina. I'm going to play one more piece tape from you this is from the following day. It's a hearing on Capitol Hill. You may actually well have been there. I don't know the first force you're gonna here is shared Brown democratic Senator of Ojo, and then the current fetter jay-paul Hugo, thank you. Thank you again for being here term yesterday, your predecessor Janet Yellen said. He doesn't think President Trump has a grasp of macroeconomic policy is she right? I won't have any comment on that for you Senator. All right. Guess I'm not surprised of of course, he was going to say that Gina, but two point about sanding out loud. How much does it matter? Yes. I think it's an interesting question. Certainly I was really surprised to read that in your interview transcript twinning came out. I had to eat totally honest, just because. So was I. Honesty. So as I- jelly from vk because they have been so careful about avoiding sort of getting into the political fray avoiding being critical in an outright way of the Trump administration. And there's a good reason for that. You know, when they criticize politicians they open themselves up to criticism. And I think we should be clear. Janet Yellen is no longer at the fed. But that doesn't mean she has no influence at the fed. She's in regular communication with Jay pal? She said that in the interview you had with her. And so I think it's surprising to me that she would sort of open up this conversation in in such a sort of forthright way. Jay testimony since since he's the guy with the job. Now was up on the hill twice this week. Once the house wants the Senate, basically said everything's all right? You know? Yes, we have a little too much dead. And you know, I'm little worried about the economy run on gas sometime. But basically everything's fine. Right. Yeah. That's what he said. And I I was having a conversation today with a macro economist, and the interesting thing that he also said in his testimony that I really thought didn't get enough play was talking about stopping the balance sheet runoff, essentially, what he's saying is the fed is going to continue to buy hundreds of billions of dollars of bonds in perpetuity with no end in sight, the fetishes stork Lee held about one or two trillion dollars on this balance sheet. It's got more than double that right now. And the idea was if we're running this healthy economy where things are functioning as they're supposed to where people have jobs. Unemployment's low all these macroeconomic indicators are pointing up that the fed should be able to stop stimulating the economy by buying all these bonds and Powell saying, no, you know, we. Think we're probably going to stop doing that this thing that was supposed to be on automatic pilot as he said for the rest of the year really says that wow, this economy can't stand on its own. That's something I think people should pay more attention to art so Gina with with the caveat that you too are. You know fed aficionados I'm going to turn us to trade here for a second. Right. Because there were China talks last week. Robert lighthizer was on Capitol Hill this week saying you will see the deal goes it's going to be really hard your thoughts on on perhaps where or when this ends. Yes. So I think there's a really interesting question here because what Robert lighthizer said was a little bit at odds with what President Trump had previously said, you know, Trump was pretty declared. If they're making progress in lighthizer got up and had a lot of ifs as my pops. And so my call Jenny Leonard reported that US is actually I ING potentially as she Trump's on it as she from being from China Trump's summit potentially as soon as mid-march so actually. Pretty accelerated timeline there. Now that is just, you know, an anonymous source in we're not sure how realistic that is time line. But it does seem like there is still some impetus from the White House to get something done on this fairly soon. We'll let me ask you both actually in India, and you get to go first the same question. I asked last Friday, which was has the president put himself in a corner where he now has to make a deal excuse me has to make a deal because there will be and people are starting to feel the macroeconomic macroeconomic impact. Yeah. I mean, the short answer is. Yes. Like everyone on the market that I've talked to and not just recently going back six months, twelve months really since he got elected has expected that there's going to be a deal with China. We're gonna have some marginal changes a lot like what happened with NAFTA. And we're going to get a deal the president's going to call it the best ever everyone goes home for dinner that's been the expectation for the market for a long time. And everything else really has just been noise. Which is why you haven't seen a lot of market moves during the process, raw Gina, thirty seconds. Same question to you is has the president put himself in a corner here. So I'm gonna agree that yes is the short answer. I would add. Twenty six seconds. A caveat to that at this moment is that a lot of the things that were making that a really essential move that Trump had to make a lot of the cracks in the data have seemed to sort of play out not such a bad way in the last couple of weeks. You know, the stock market really rebounded. Thanks to the fed. I think we've seen fourth quarter GDP numbers came in looking grit ease knowledge, you know, the year year over year GDP was really good in the fourth quarter. And so I think those things do take some of the pressure off. Although clearly not all of it. And I think there is still the expectation certainly beacon markets that there is going to be some kind of an agreement here
Companies keep buying their own stock in force, led by 'buyback monsters' like Home Depot
"By backroom continuing. Home Depot announces a fifteen billion dollar share repurchase Botha's on these at the NYSE with more on that. Hey, bub, low motza fishermen, Jay pal sidestepped. A verbal hand grenade in his congressional testimony today when asked where he stood on the recent trial balloons to restrict the ability of corporations to buy back stock pal reflected for a moment. And then said, the allocation of capital has always been left to the private sector, and quote, I would want to understand the consequences of changing that it was a perfect answer to a politically divisive question after buying back. More than nine hundred billion dollars in two thousand eighteen a record year. Corporations have shown no signs of slowing down with the buybacks twenty nine thousand nine already we've seen one hundred ninety billion dollars in announced buybacks today. Homedepot announce a massive fifteen billion dollar stock buy back, which we do the show. Shares outstanding by about seven percent if fully implemented after the bell gap announce a new one billion dollar buy back program as well. They follow on Cisco AIG footlocker CSX and many other corporations that have announced by backs in two thousand nineteen the Home Depot buy back is a very large one. But it's part of a pattern that goes back many years really eighty companies in the s&p five hundred have reduce their share count by at least twenty five percent since two thousand ten this is a class of corporations, I call buyback monsters, including well, no names, like Lowe's, and gap and IBM an apple it's a bubble. That's about to burst. Will it's unlikely as long as two conditions are prevalent. I that corporations continue to generate excess cash flow that is used to buy back stock and second that interest rates remain low, which would enable an alternative way to buy back stock. And that's by borrowing this is the Hornets nest that Powell stepped into so the fed entity. The congress should understand the consequence of changing that as Powell said before stepping in and dictating the corporate America, how it should be spending its profits. This is going to be a big issue in the next two years. Melissa victim.
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"We saw the exact same kinda quilts pre-accident apple that stocks now giving us fifteen point game since CEO Tim cook came on this show a few weeks ago and told us the future was quieter than most people seem to realize that then cook said he was optimistic about Apple's long-term success. I sure hope you listened Tim cook is a bankable CEO who is always innovating. And Mark my words, this this watch is the next big thing, and it's going to be because of the healthcare initiatives, they're gonna come with it. Remember the last time apple stock melted down back in two thousand sixteen it traded down to the low nineties, which is when came here right here you sat right here. And he told us the company's best days were behind him. Like so many of these analysts were talking about. She's I can't talk to her right now jeeze that would be awful. So many of these analysts were saying that it was the worst day. The worst is the best list past sure about the stock rallied all the way the two hundred thirty three where peak last year. Yes, india. Okay, guilty. It's pulled back. Since then. But once again, cook came on our air before the quarter, but after the negative pre-announce practically called bottom to me, this confirms that you should simply own apple don't try to trade it why not the service revenue stream keeps growing. I actually some people think it'd be exceleron most of the week this in the iphone is coming from China, which is experiencing a nasty slowdowns. We know and a rise in trade trade war hit by that induced a lot of economic nationalism. Plus, the strong dollar makes Apple's pricey phones even more expensive versus the competition. But man and President Trump can work at a trade deal with the Chinese. I put apple could become what's to say close to it. Maybe a two hundred dollar stock again. What else we may need your place Jian FANG which used to stand for Google with G as in General Electric today G reporter better than expected quarter. And finally gave us a sense of confidence that the worst is over the new CEO, Larry COPA. He smart thaw. He laid out a road bat that could eventually get off the do not resuscitate list and put it in the ICU gleaming. That's a major improvement. What happens when you take the deck down, which is what he's doing? Now. This story is a bit more coke didn't talk about big numbers in the out years or make awesome. Now, he was more like Hercules, he's cleaning out the gene stables. In fact, he's doing all seven labours of Hercules, well, copes to us to deal with the manure pile that is power division. He's tidied up. The Justice department investigation the subprime transgressions thank heavens, accelerated the orders in healthcare to an astounding seven percent thing. It's going to sell a lot of that too figured out. How to get his arms around the long-term care headache? Although, you know, there could always be another shoe to drop when it comes to that issue and putting the places on management team that has nothing to do with the aubergine. He's going root and branch people. And when you downsize this power dramatically, we're going to think of Jesus and nifty industrial gin, no wonder rallied eleven percent. Hey, back over ten a lot of students going to flock to it. Of course dot every down and outer was able to make it come back. Doudou Pont got slammed today. Plummeting nine per cent. And this travel trust aim was already well off its highs. This quarter was the poster child for white fed chief Jay pal had the back away from his commitment series of rate hikes because many of its industrial businesses on just got crushed. By the slowdown in December. We may have to create a new line on him in the scorecard of earning season. HP stands for hit by pal. Give the week this delta punts auto and how's your related businesses?.
"jay pal" Discussed on The Read
"Hell I've even worked in Japanese restaurants while I was in college. So I learned about the food culture holidays naturally. I also really like j pop Japanese pop, I know, Jay pal. But anyway, meet one day. I was listening some grow group, and there was a rat breakdown. I didn't think much of it Siberia doubt and listened to k pop I figured the aesthetic is the same. And I still don't know what they're saying. I noticed that almost every group had a designated rapper the girl the group called black pink loved him, even has entire trap style songs. Videos, also draw parallels to trap artists here to clarify. I'm not saying they do black phase protective styles or anything. But it's a little too black to the point where I'm not comfortable with the fact that I enjoy it. I voice my complained to my body quad friend, and he expressed the same sentiment. So my question to you is is this cultural appropriation or doing trap music in a different style. Much love Phoenix right to the name of video game characters is a great video game. Also, so not found this to be an interesting question is. Up look at it. Like this, right. So I don't think that like hip hop. Is exclusive to black people or that it even should be. I think that there's a respect that definitely needs to be there. But I also believe that hip, hop music and culture is expansive enough and old enough and interesting enough that it can be, you know, performed expressed and celebrated by all cultures the problem. I think a lot of people have some people. This may be like a subconscious thing for them. Even is that a lot of y'all don't really like rap as much as you just like nigga shit. And I think that's why a lot of people who are non black that gravitate towards traps specifically is because that's what they think of when they think of rat. They think nigger shit, right? I'm saying like so many non black rap artists usually gravitate towards trap music and gangsta music because that's how they perceive rap music is like, you know, nigga shit and a fancy cars big asses marijuana goal teeth and everything else that they believed to be stereotypically black. They're not many. Any of them who are coming out and saying like their biggest inspiration growing up was rock him in non. Saying ran the anti sand, whatever whatever like them. They wanna be migos. They wanna be Gucci. They wanna be plies and whoever the fuck else because that's the part of of of rap and blackness that they love so much. They think that nigga should is cool and don't respect nNcholas saying black people for me. I don't have a problem with non black artists making a rap music are even Schratt music as long as you're not lacing it up with a pink trap house in a turnover by in a whole bunch of other li- simply that you don't really get. That's it. Yeah. I've never been part of your life. I don't have a problem with k pop J pot rappers and only have a problem with them doing a millionaire and whatever the fuck else and their videos and stuff like that a lot of Japanese focus dance where like last couple of Joe. But you know, when you get into the whole like I need to have an entire ice grill, and like do the whole and some of them do that as well. And I'm like, okay, you felt like whatever. That part. I don't like when they like fuck what they hair to try to make it a afro, I don't like that that do not like whatever treatment that is that they do in today hair because it just feels like so it's not enough for you to enjoy the fashion and the music, and the culture you have to literally try to wear it on your head. But there's even as a huge fan of Japanese culture. There's still a lot about that. I don't understand especially from like a Seidel standpoint. Like, I know that I love a lot of their entertainment food our stance loads things like that. But when it comes down to like the community, and like the way that they like Fink and move and stuff like that..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"Patience is a virtue when are clear eyed fed chief Jay pal doubled down on his patients in his speech today. He used the word eight times rather than pushing for more rate hikes, the stock market, just floored. It took off das- surging four thirty five. Bush hasn't be jumping one point five five percent. Nasdaq falling two point two percent. Pal made the right call I salute him. All day. I had to listen to suppose, it experts whining about how he's came to his critics or bowing to the stock market generally undermine the credibility of the Federal Reserve. Okay. I got to work for it. It's called lunacy. The thick doesn't exist in vacuum. Their decisions are based on the state of the economy pal out, the Dextra Cise patients because the last time he got impatient. Back in October. He caused a level of fear and uncertainty. The fact we'd what the credit? Netflix works to the knees and October fat pal figured he had a good read on the economy. Right. So he proposed four more rate hikes and pretty much turned into a one man wrecking crew. That's what happens when the fed is to hasty. Look, I know I've been relentless on this issue. But I didn't want another. They know they know nothing moment in two thousand seven Myers the fed to start cutting interest rates because they were crushing the economy. And what happened they all laughed at me like that scene in carry when John Travolta dumped the pig blood all over. They're all gonna laugh at me. Now, white then I chose not to rely on the feds anecdotal. I think almost shoddy data I assist appel needed to more homework and make more calls to get a better sense of what was really occurring because this plan for former rate hikes would have strangled life out of the Konami not to toot my own horn. But he was right. He did were homework. What did he find that? I was right. The tablets really only looking at Plymouth quote before that they figured that. That was the only thing that mattered. They didn't seem to care about the slowing growth in China or Brexit or the possibility of the government shutdown here in the US what J pal now calls the cost cards. That's okay. That's okay. Fortunately commonsense. One out today. Pal expressed a need for caution. He said he's adopting a wait and see approach like we've called for endlessly here. He's playing that. There's really no need to tighten this long. As inflation. Stays stays this low. The truth is the case for higher interest rates has weakened because of an economic slowdown to fed simply didn't see coming back in October. When pal laid out his his now in retrospect, reckless game plan in the. Italy. Great John Maynard Keynes, the father of macroeconomics when the facts change to change your mind, all the facts change. Fortunately, pal changed his mind. Now, someone to argue the pal minima state did he simply capitulating to people like me who want higher stock prices. I hate this talk. Sure, I love higher stock prices are open shortsellers do. But that's not the point. And has never been the point. We'll do this show whether the market's upper down I mean, come on. That's what it's about. For me. You think I played for dinner? This is about the economy who doesn't want a healthy economy. If pallet stuck to his plan for serious of lockstep rate hikes. It would have been a lot more devastation to main street in the Wall Street, and there's no good faith argument for rate hike here. Inflation's low global economy is slowing are communists, low to it would be insane for the fed to tighten into wait. This everybody knows you tighten interest rate. Not weakness. Look, I just want our central Bank to be Putin. I'm not saying we need easy money from here to attorney just the opposite. But as palim self tacitly knowledge sticking to his earlier plan for three more rate hikes. What of course, the current economic expansion who wants to do that. Now, I must have spoken to one hundred see us all but one of whom one that we with me that the fed was poised to kill the business cycle in a quick sonic quest to stamp out non existent inflation, most of these exact said that if pal simply accession patients itsy that he's already slowed down the economy enough to prevent inflation from coming problem, the one luckily took this critique seriously, and he did the right thing. So let's go over..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"Hey, we got a trade deal. I think you've got one hundred eighty dollars stock up twenty from here. There's just isn't that much wrist now after we got the high sign on the January numbers. I couldn't have designed that better. Just come out of here with a with a band saw. So here's the bottom line when you have expectations that are through the floor, and you don't get used blogs. Like, you did with NVIDIA, then you have tender for a fire, and with the flame, you got something going, and that's just what we got from these five stocks, and if a friend buddy pal Jay pal doesn't blow us up tomorrow. When he does that Federal Reserve saying, I think we're going to be set for decent finished of the week. How are we going to Alex in Georgia, Alex? Jim from super Atlanta, Georgia. If they're good luck. I think to teams is going to win. How can I help? I wanted to see what your take on square s q got major downgrade combining James. That that downgrade. Holy Kaur made me think. All right you. So I pray moss. Sarah Frier down seven east is to twenty company. I actually like it, but I like pay pal more. But you know, what Jack Dorsey? Is doing a great cut weight thing with both Twitter and square to toot for so Jack because I know you watch or at least your dad does let's do this and your Ma happy weren't they remember that you will do one block when you come on on Twitter and the next block is going to be square, and then we have it. All right. When you when you have low expectations and don't have a huge for the news at Tinder for fire, pal? Doesn't blow us up tomorrow? I think we get decent week. Call me an apple polisher on them. Invidious newly fourteen percent on yesterday's undo some by or is there? Still more pain ahead. I'm giving you my cake plus peeve. Invidia? If it's an earnest import is any indication based internal dime for tech stocks. But couldn't it be named worth. Only in the seventeenth his face off the charts technical say, but I knew court and you eat just Bruce solve results. But does it have the strength is continue to deliver sturdy returns fears the gun on talking with the CEO so stick with..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"Number three CBC or tweet me at Jim Cramer right now right now behind the scenes practically every money manager out. There is wondering if it is time to swap out of the safety. Stocks sell so sell sell sell into some of them were economically sensitive groups that have gotten too cheap to a gore. When the day with the Dow dip twenty two points P inched up four percent. But the NASDAQ were a lot of these tech stocks that I'm talking about advanced point six eight percent. The placid accident stunning rotation Alec defensive food and drug sucks into the now red hot semiconductor names. Now, we're tastes can be hard to understand most the time. He can't figure out why the heck the market suddenly side to turn on starlings in braces dogs. If you wanna get your head around this move, you need to understand how stocks bottom and how they peak because as I said the other day, this is a Bob Dylan mortgage and the times they're changing the process started it with three semiconductor companies report, Texas, it's rinse Zeilinger, and Lam research, Texas, inference base, Gordon variety chips that you see and everything from autos to homes all kinds of devices quitting wants that are plugged into the internet of things copy actually Puerto on quarter. Frankly, they have a lot of industrials BOS your area that suffered when fed chief Jay pal decide to get all gung ho about fighting inflation Texans was the worst of the three yet. Stocks still rocketed up seven percent split. Some cautionary words how about Zeilinger X? I L I N X. They're quarter. Poku tude thing. Beauty. Silence is supposedly ever really every red hot market for the defense star official intelligence to the data centers self-driving cars machine learning and the best of all five g the next generation.
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"Creating a backlog. And now the prices are coming back down the whole industry is rolling over the hideous guidance from Stanley black and decker really drove that point home like a nail gun to the far head. I am worried about housing rates have to stay low were importantly, what do these week? Macro numbers mean for the fed. I think this bad data matters to us because it will have to impact the mine of the chief Jay pal a certain point. Remember only ever says, I don't see it. But they see it. Well, if pal factors in internet, suite assumes calculations loan with the house. There's a very solid case for fusing racist rates any for the whole year. Now, we do get a trade deal with China and raid, stay low this Mark you could were higher at which point our economy could handle a couple more rate hikes. I'm cool that but for now you have to hope pal continuous exercise patients and looks at what happened today in the stock market is a way I figure the weakness in China will make you eat your President Trump to get an advantageous trade deal at a certain point it's cheaper for the Chinese to just change their policy. Stop making it easy for further. Cubbies steel Merck inaugural property, I bet they're governors actually right now trying to find a way to show us the respect our IP and let our companies operate independently and China a sticking point Larry cudlow, the president's chief economic adviser made today, even as he denied on our air that there is any cancellation of behind the scenes talking ahead of the bigger confab. It'll gets not a perfect solution for the People's Republic, but considering what the Tashin during their economy. Hey, you know, what they may not have a choice that said at the moment, we have no trade deal and ugly day. About the world economy, which means the Federal Reserve should be a lot less likely to raise interest rates in the future. But it also causes accident. We sold in the market is just too dangerous. And even J pound. Does it which is why if we get more good numbers like we got tonight from IBM we could get back on track after a couple of speed bumps, but we don't want to lose the fed when it comes to know raising a okay much more money at concerns over trade in China hampered markets today. But are there things maybe there's some times some signs that could be changing for the People's Republic. All my what's ahead in tonight's off the charts. It's going to blow your way could I don't want to tell you. But it isn't mazing then Logitech just Pete earnings estimates, thanks to strong growth in its Daime where we're business. Yes. E- sports. So is it game one for the company which reported better than expected quarter CDL and the piecing powerhouse known as del has returned to the public markets, and you've earned virtually nothing about it that changes tonight to consider best team to stop. Don't make a move before. Hearing my tape and stay with Kramer..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"Seven for three CC or tweet me at Jim Cramer. Okay. Okay. So it was a little easy can only rally so much on the idea that the economy is slowing. So we don't need to worry much about fed. Do wonder we got slammed today. Dow plunging into to push pointless much worse at one point plumbing one point forty percent. Nasdaq nosediving one point nine one percent not much balance there. I mean, it selling companies can come out and say when they report, okay, we were doing pretty well until the fence screwed up. But if they get it, right? We'll be fine. No, it doesn't work get these companies have to extrapolate from what happened in the last quarter. And when you do that well things look pretty ugly because the question was so bad. It doesn't matter if the fed changes stance right after the quarter ended that picture well in rear view mirror. Stoltze hideous. Right. Bus companies loved the under promise in January. So they can overdeliver later in the year. So we're not exactly push fabulous earnings report, cedar. Let's set the stage for this decline. The first sign that we were going to get hammered came from oil, which one point was down almost two bucks. And we know that the oil rally has been let's Sissay part and parcel of the entire rally this year. That matters. Here's a ton of hedge funds that rely on computer programs and those programs are set to sell the whole S and P five hundred when oil goes down in price. Me why the? It's by machine we know in reality in rationality that about ninety percent of the SNP actually benefits from lower prices, so linkages surreal and shoot the programs are trying to measure the health of the global economy, and they used the price of crude to measure whenever there's a whiff of trade deal with China will rallies when a trade deal seems far off like today when we first heard reports that the US turned down an offer for prepare to trade talks, though, the president's chief economic adviser Larry cudlow came on air and said that's not true while oil gets trashed. Remember, the stock market hates the trade war without a trade deal. There's a widespread belief that the global com you'll continue to slow down, which is why oil got hitching, and we sell oil because you're worried about the global economy, then you should sell the SNP to see there are enough international companies. The average tech stocks to bring the whole index down which is exactly what happened today. Now, do you think US economy should be insulated from all this pain because they have such strong growth? Well, I've got some bad news for you. We keep being fooled by these employment numbers this morning. We got existing home sales for December. And they dropped a staggering six percent. The slowest sales pace since November of two thousand fifteen. The mortgage Bankers Association pointing out that exists in sales had now decrease for four straight months your ear because of a lack of confidence in the Puerto Rican Nommik albuque- because the stock market volatility. And higher mortgage. Rates outs. And this macro wheat is starting to impact lots of individual companies, including quaint wants Quinlan sleek Stanley black and decker the tool company, which for this number. But then gave a horrendous forecast that included a guy down works part because of the slowdown in the US housing market. The company added that auto tools also week. Oh, it was jarring. Call worse, the international outlook. Sure won't let them make it up. Just listen to Stanley blocking decker CEO James Laurie who told us and I quote, holy cow. I love this quote. I think we all know that your economy is slow quite a bit. Germany went negative the casing chaos and confusion with Brexit. Italy's a disaster end quote measures coming still made the numbers in Europe. It I don't think that travelogue is all that encouraging frankly, and this environment the fed chose to raise interest rates, quote as a cool. This is why spent months going off on fed chief Jay pal for his tone deaf attitude and his lack of yes homework. Homework emphasize that again sure, the model said the stated bucking decker should be doing fabulous based on employment. But my own told a different story and the company agreed with me. No wonder the stock plunge more than twenty one dollars today. Jay, pal..
"jay pal" Discussed on MAD MONEY W/ JIM CRAMER
"How did you turn on a stock has gotten to cheap who's the arbiter the companies that to the Cup is the by other businesses? It's a potential premiums where their stocks have been trading. These acquires now snappy up targets like mad because those targets saw their stocks collapsed in the great bear market. Of two thousand eighteen also known as the pow pow bear market. Because fed chief Jay pal hit stocks how right in the kisser when he said out his plan for series of lockstep rate hikes at the beginning of October, all these deals tell you the stocks got to cheap because of that case in point this morning. We woke up to the news I serve is buying the stock of first data in an all stock transaction for twenty two dollars and seventy four cents share. Wow. You win for first data shareholders, congratulations. As this was a seventeen dollars stock. Just yesterday David favor reported the financial companies have been talking off and on from us. Consider this stuff. I ate. It was trading at twenty six bucks in September before the stock was felled by Smith's. I'm betting the top dogs at Pfizer probably for status credit merchandise and business, but they didn't wanna pay thirty dollars share for it would have been reasonable price tag back. Then now, they're paying ten bucks less. No deal deal. Two days ago Newmont Mining Goldcorp GV in a stock for sock transaction valued at ten billion dollars seventeen percent premium to go with me trading over the previous twenty days the deal be immediately additive to new months earnings. But would it have been added it as much as if Goldcorp was fourteen dollars and nineteen cents where Pekhtin July not nine dollars and sixty nine cents where it got the bid. I don't think so Louise bit for Laaksonen college. And we talk about that one when we were at the JP Morgan conference Lewis paying two hundred thirty five dollars per share or eight billion dollars to cement its role in the targeted cancer therapy space. Sure, it may seem.
"jay pal" Discussed on Newsradio 970 WFLA
"Vehicles struck. A passenger van and the other semi truck. Watson semis struck. They both caught on fire as well. As the passenger car that was carried over from the northbound lane. Five children who are part of a church group from Louisiana headed for DisneyWorld were killed along with the two semi drivers. At least eight others are injured. A former follower of cult master Charles Manson may soon be out of prison. The California board has recommended parole for Robert Beausoleil, the seventy one year-old was convicted of murder and sentenced to death in nineteen sixty nine for killing a man in an LA home. Investigators say Beausoleil used the victim's blood to write political piggies on the wall. He was denied parole in two thousand sixteen and now he's fate is in the hands of newly elected, California. Governor Gavin Newsom it's six oh, three on NewsRadio nine seventy WFL a stocks wipe out yesterday, huge losses. The Dow up seven hundred forty seven points. The NASDAQ two hundred seventy five in the SNP up eighty four investors cheering away better than expected jobs report for December. And there relieved to hear Jay pal say, the central Bank can be patient on interest rate hikes down stay the course even after. President Trump said the government shutdown collapse four year or more are you expecting tax refund. The IRS can accept tax returns during a government shutdown, but it can process refunds south, the shutdown persist, you may have to wait eighteen are block season opportunity here the tax preparers offering customers up to three thousand dollars in advance. Even if the IRS is closed, it's a no interest loan to be repaid out if they're refund checks game. Stop shares surged more than seventeen percent on a report in the Wall Street Journal, the two private equity firms are bidding for the video game store for NewsRadio nine seventy WFL. A I'm Adrienne Mitchell. With the Bloomberg business update..