morgan stanley equity strategist mike wilson always in a bad mood back to 3005 the high end i have seen it before talked to you about it before. next thing i know you're on a show i'm going wow is it 2800? do you ever waver? you are still took talking about 270 oh still on the s&p. >> talking about a range basically. >> back to the high end. >> here is what's might be changing last last time on your other show we were talking about the raenl and we were at the low end. >> right. >> and we're high again. >> i thought you were bad again. >> i naught he was a genius last time he was on now i think you're wrong again. >> i think what's going on and see -- did it's not the fed as much as in july now it's about trade. we got home the trade thing is going back we got to go back a year and a half this has been going on 18 months people are finally talking about the recession. the in the survey you mentioned earlier that's been going on 12 to 18 months the time for the slowdown call, the recession call was a year ago. that's why utilities killed it and bonds kill it stapled kills it defensive gr

mike wilson at morgan stanley had a note today talking about jay powell. as the u.s.t outlook deteriorates, analysts looking at a 3% drop in third-quarter profit, that was supposed to be when the rebound was going to begin in earnest earlier in the year. everyone was expecting 10% growth in the third quarter. now we are expecting a decline again. it is this dynamic between when will this weakness in profits and certain parts of the economy start to affect the consumer, start to affect the labor market? it looks like we could be getting closer to that. vonnie: it bears repeating that factory activity data we saw, it is the first time it has been in contraction territory in three years. and 2016 turned out to be a false alarm. we do not going to recession, but it was a week period for the economy. the oil market was weak, credit markets started getting nervous. it is hard to imagine this not recovering unless we do get some sort of closure on the trade deal. based on everything we have read and all today, we are further and further apart. .uy: talk's to us about btp's t

thank several people that i've corresponded with extensively in preparation for this, especially mike wilson and dan witchen and earl labor, these are top experts in the field on jack london it and was fun corresponding with them via e-mail. so a lot of false rumors about jack london who was not a home run homosexual. he wrote to a gay reporter, i love women. settles the matter. it's a constant. did he commit suicide when he died in 1916? rumors are fueled by a semi biographical novel which -- talks of suicide in the autobiographical book on drinking. john barley korn. he was an alcoholic and often abused his body. he died really too young at age 40. he opposed -- very liberated, liberal individual, but he opposed women's right to vote. you'll know why? because he knew that women would support prohibition. and he didn't like that at all. he said, all ways lead to the salon, a thousand roads of roman anded a adventure drew together in the saloon and offended all over the world, adding as a youth by the way of a saloon i escaped from the narrowness of women's influence into the wild free world

coming up on "the open" mike wilson will be joining us on this trading day after the fate day. norway hikes rates. this is bloomberg. ♪ devices are like doorways that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's protected. call, click, or visit a store today. jonathan: from new york city for our audience worldwide. i'm jonathan ferro. "the countdown to the open" starts right now. ♪ up, chaircoming powell overseeing a fractured fed. the path toward more rate cuts gets murkier. the bank of japan said to consider more stimulus at its next meeting as trade tensions way on the outlook. the oecd forecasting the weakest global growth than a decade. 30 minutes until the opening bell. here is your thur

. >> that's exactly what mike wilson argues today over at morgan stanley as you all know he's been nettious, i should say still believe their earnings model shows earnings are 10%, consensus is 10% ahead of what is going to come out we're going to know pretty soon whether or not the companies get started with pepsi this week whether or not the year is in tact. >> i would say one year ago, the forward estimate for the -- by the consensus was a good deal higher than we actually have gotten in the last year. the market is up a little bit. you got the help of much lower yields and changing orientation of the fed you can't necessarily get that again to support the market and the absence of earningsgrowth. it is hard to know exactly what is priced in and what the consensus is if that's the same thing. >> so thanks to market apple, dow up 81. to bob pisani. >> nice little move up again it is tech that is sort of the mover and always is. semiconductors in that sub sector is the marginal mover for the market their semi is up nicely. industrials, these are the cyclical sectors doing better. bank

texans wina quick look at thy players for the week, mike evans led the way with 45 points, keenan allen, russell wilson, alvin kamara and mark ingram round out the list >>> and we are tracking another tropical storm threat. >> good morning. we have tropical moisture picking up very quick here this just happened yesterday, tropical storm karen here. there is that northwest movement 9 miles per hour now, on our radar is puerto rico it will cross over by tuesday afternoon with winds up to 40 miles per hour, and that's why little rock and oklahoma city this afternoon. that continues into phoenix. but look at highs, 90 degrees we're going to introduce fall here at 3:50 and temperatures still in the 90s. you got to love that, right? >> yes it's been really unseasonably warm thank you. >> up next, we have the big winners from the emmy award and an explosive scene caught on camera the terrifying moments after a propane tank catches fire. that's head on "early today. fights cancer, repairs shattered bones, relieves depression, restores heart rhythms, helps you back from strokes, and keeps you healthy your whole

mike evans, 45 points. the rest of the top five there keenan allen, russell wilson, alvin kamara, and ingram rounding out the top five. >>> it is the first official day of fall. let's check in with nbc meteorologist janessa webb to find out what is ahead for our monday morning. >> temperatures are very warm across the west. that's going to continue all week long. we're seeing something rare for arizona. rain is currently falling, and our storm prediction center has issued a slight risk for severe weather this afternoon for a million people damaging winds, also the torrential rain. potential for a few tornadoes to spit up across the phoenix area. we're going to be watching that very, very closely here. also, the rain going to be a uld see about 1 to 2t closely.theye off the charts he. unseasonably warm for ll reno, a wednesday afternoon. a beach day for southern california don't see that toouc often for phoenix. the storm prediction has rain throughout wednesday in the area. >> how about that? different for them thank you. >>> just ahead, the chaos for fliers after a british travel firm suddenly closes up sho

our president, i will go to my grave with ronald wilson reagan defining what it means to be president. the generation of leaders that we have seen, mike lee, michael rubio six months younger than i am, paul ryan is a year older than i am. scott a few years older than i'm. the generation that i referred to as the children of reagan. we learn watching that is how a president can lead. we learn watching the president say mr. gorbachev tear down this wall. we saw the criticism of washington. i also think at a very personal level. all of us are the products of our own family stories. our own journeys. for me, my dad grew up in cuba. fought with castro. did not know castro was a communist. taught against. cruel and corrupt. my dad was imprisoned and tortured. my aunt who was there later, his younger sister, once castro took over, declared he was a communist, even worse and the guy that preceded him, fought the counterrevolution against castro. she was imprisoned and captured. my family got it on both sides. that is not an unusual story in these countries that have seen tierney and of gone from one tyrant to another. i remember as a kid my c

fdr as our president, i will go to my grave with ronald wilson reagan defining what it means to be president. the generation of leaders we , mike lee, marco rubio are six months younger than i am, paul ryan is a yield or than i am -- is a year older than i am. i referred to as the children of reagan because we learned watching that is our president can lead. we learned watching the president say, mr. gorbachev, tear down this wall. we saw the criticism of washington and we saw the clarity had power. think in a very personal level, all of us are the products of our own family stories and journeys. cuba,, my dad grew up in fought with castro, did not know castro was a communist. imprisoned and tortured. aunt, who was there later, she was his younger sister, once castro took over, everyone discovered he was worse than the guy who proceeded him, she fought in the counterrevolution. my family got it from both sides. that is not an unusual story in latin america. is not an unusual story and countries who have seen tierney. -- in countries who have seen tyranny. my cousin and i would hear stories about being freedom fighters and it wa

wilson reagan defining what it means to be president. the generation of leaders we've seen, marco rubio and mike lee are six months younger than i am, paul ryan is a year older, tim scott is just a couple years older than i am, you see a generation that i've referred to as the children of reagan. because we learned watching that is how a president can lead. we learned watching the president say mr. gorbachev tear down this wall. and we saw the criticism of the intelligentsia, we saw the criticism of washington and we saw that the clarity had power. i also think at a very personal level, not all of us are, all of us are the products of our own family stories and our own journey. for me, my dad grew up in cuba and fought in the cuban revolution, actually fought with castro, did not know castro was a communist but he fought against batista who was cruel and corrupt. and my dad was imprisoned and tortured by batista's goons. my aunt my tia sonja who was his younger sister, once castro took over he discovered, he said he was a communist, my tia sonja fought in the counterrevolution against castro and she was imprisoned and tortured by castro'

mike pompeo, said the conflict would ultimately be resolved through dialogue. the militants said they were committed to continuing negotiations. michael kugelman is an afghanistan expert at the wilsonan were on the cusp of a deal. well, one reason why it is so surprising that trump made this announcement to call off talks for now is that the talks had got further than they had ever got before. the two sides, the us and the taliban, were on the cusp of a deal and it was at the point where the chief negotiator was trying to get buy—ins from kabul, which had been shut out of the negotiations, and from others in washington, so clearly we had never got to the point where we had been over the last few days and that makes it all the more incredible, to put it mildly, that president trump decided to call off talks for now, if not permanently. how hopeful are you that they will start up again and why? i think at the end of the day both sides, the us and taliban, have a similar goal, which is to make a plan for a withdrawal of us forces. i do think eventually there will be a deal. trump, of course, has been very clear about how he wants to get out of afghanistan and certainly he would like t

mike pompeo's been corrupted by donald trump and is carrying out u.s. foreign policy with the express purpose of muddying up joe biden. >> well, our friend rick wilson everythingrump touches dies. but think about the crazy of this that -- [ laughter ] the crazy where we've got numb to this. but rudy giuliani out there with his phone and his texts has become the ultimate loose cannon. the term loose cannon comes from the navy where you'd have a two-ton cannon on the deck of a ship that breaks loose in the middle of a storm. there's a storm and this thing is going around creating all kinds of carnage. you would think at some point they would try to throw rudy giuliani under the bus. >> he's driving the bus that drives over all the people under it. >> he's the envoy. he is the personal attorney for the president. the president is on that call telling the president of the ukraine you've got to talk to my guy rudy. this is going to be a tremendous problem, and you're right. can you imagine what that show is going to be like when they get rudy giuliani under oath in front of that committee? i mean not even the democrats can screw this one up, right? >> i don't know.

joseph wilson was 69 you are to to date this is the news update at this hour seema, back to you >> let's send it over to miketoli for today's market dashboard which includes a look at wells fargo >> that's where we're going to start. here's what's ahead. save the wells, or the market seems to think under a new ceo that's a possibility and adopt a unicorn. this is another angle on the rough road that a lot of these new tech ipos have had it takes a village look at what the majority of stocks are saying in this recent phase of an attempted rebound in the market and finally, a thousand points of fright. look underneath the surface of some of the consumer confidence indexes here save the wells here, take a look at relative performance chart of wells fargo over bank of america this is about when the wells fargo cross-selling scandal came to a lot of attention. this is the underperformance of wells fargo versus bank of america since then it's down on a relative basis almost 50% and just perking up. i think you could argue, it was already making a little bit of a subtle comeback before today's news and take a look