the russell. the reason why the russell is rallying is that 40% of the russell needs variable rate financing. they need the market to come in, they need the interest rate market to come in. the percentage of unprofitable companies in the russell is over 40%. in the 1990s it was 15%. >> the variable financing is something that caught the attention of dan lobe in his investor note, talking about expectations for more volatility in the credit markets as a result of this phenomenon. karen, i'm curious your thoughts whether you think the fed is behind the ball and if so that indicates a 50 basis point cut. >> i don't think there's that much difference between 50 and 25 i think they'll do 25 unless things change but i think he's done a masterful job, actually, if you think where we were two years ago, and carter's talking about higher for longer, when it was firmly in place, the expectation of us having a recession, by now, right, midor getting into late -- later 2024 seemed highly unlikely, and yet, he

russell is smarter than that and _ are playing. russell is smarter than that and we — are playing.en the shape and the formation change and to be fluid that is— the formation change and to be fluid that is part _ the formation change and to be fluid that is part of our game now. describe _ that is part of our game now. describe the mood in newcastle right now to the build up later today between southampton and newcastle, amongst fans what is their mood like? , ., ., , amongst fans what is their mood like? i. .,, ., amongst fans what is their mood like? ., ., , . like? everyone has a realistic exoectation _ like? everyone has a realistic expectation of _ like? everyone has a realistic expectation of today - like? everyone has a realistic expectation of today but - like? everyone has a realistic expectation of today but it i like? everyone has a realistic expectation of today but it is| like? everyone has a realistic. expectation of today but it is the first game of the season so anything is possible, maybe we catch newcastle out and a big thing for me would be to score a goal, which

molly russell ended her life when - may find some of this setting. ill-iplly russell ended her life when, , media. i don't want to see it any more. media. i don't want to see it any more- some _ media. i don't want to see it any more. some of _ media. i don't want to see it any more. some of it _ media. i don't want to see it any more. some of it is _ media. i don't want to see it any more. some of it is still- media. i don't want to see it any more. some of it is still there. l more. some of it is still there. just this week _ more. some of it is still there. just this week we _ more. some of it is still there. just this week we find - more. some of it is still there. just this week we find similar i just this week we find similar images on instagram. images of suicide and self—harm too graphics to show. content on twitter was even worse. he and russell now campaigns for online safety. the worse. he and russell now campaigns for online safety.— for online safety. the culture on these platforms _ for online safety. the culture on these platforms needs - for online safety. the culture on

l looks at the russell. one of certainly the biggest decliners. 3 2/3% decline for the russell today. we have to show you crude oil because it's falling as well. anything sensitive to the economy for the most part is down. and by the way, famed oil trader mark fischer is going to join us right here at post 9 in just a bit on where to make money in that space right now. he always has some good ideas. you want to hear from him exclusively. you will in a bit. it takes us to the talk of the tape. this unsettled market and the key earnings that are looming. joe teaaranova, malcolm ethridg and mark, i'm going to hit the market first. bear with me for a second. we're in the midst, joe, of what is a pretty sizeable selloff. dramatic reversal from it seems how we felt not 24 hours ago. >> a very dramatic reversal that was led by the russell 2000 index. i was there, watching it, trading it. i saw the reversal after chairman powell spoke. the mean reversion trade for small caps relative to midcaps and large caps and me

thank you so much for all of that. russell russell, so far as they at the amount of the what have most in doha, we're going to go to dosage binary who isn't wrong, but it's not funny. it was assessing i said earlier in the week and over the last few hours obviously will lines have been on what is happening in doha. but before that is this whole thing about, evince, on folding the interim, can you just bring this up to date with the latest on the investigation, into his assassination eval thirties and will be able to work out exactly what happened and how he was killed there. as well, what we do know is that a special committee has been formed, including officials, from aaron's intelligence community, as well as the revolutionary guard and the police force. and now their investigation is just starting as they going to be looking into exactly how this security and intelligence breach are managed to happen in the hearts of the capital as, as well. here was a guest of the officials here to attend the operations ceremony of nice who possess scale and on tuesday in parliament. oh, they don't

okay, thank you so much, russel, this russell, set up for us there at the amount of the well have mosque in doha. as the funeral prayer for the most political leda is made of honey, a has just finished. but we're going to go now to send the data, who is the director of the level institute for strategic phasing, joins us from bi route. as we heard the from russell that he was saying, this is male hon. the it is going to be very difficult to replace is that how you see it.

and 3.5% for the russell 2,000.r again slipping below 4% for the first time since february. semiconductors are getting hard, with the smh having its worst day sense july. nvidia down 7.5%. qualcomm down 10%. and the flip side of that is that gold is hitting a new all-time high today at $2481, on pace for its best week since april. this is one of the few commodities to end the month higher in jouly. often seen as a bit of a worrisome sign for global growth, and we're experiencing the flip side with yields up 20% this year. and lifetime fitness is trying to stay in the grown after being up as much as 15%, and then nearly giving it up, and is now free cash flow positive. we'll talk to "the exchange" about that tomorrow right here on "the exchange." remember, they had those student loan headwinds they were concerned about, but we'll see what he thinks about that now. coming up, if you bought a house, car, or gotten a new credit card, car, or gotten a n credit card. today's earnings show it's one of the few companies alr

and we had a long discussion about russell for being the danger russell for you. now i want to point out that it's not illegal to go to the russian embassy or speak to russian diplomats and i did so on my own volition, i requested the meeting. i wasn't being directed by the russian government or my russian intelligence, the handlers to do this. and i was doing it to inform them about an upcoming trip to russia to say that i know that i'm a former intelligence officer. i know that you might be concerned about my motives, but when i go to russia, my motives are simply to engage in a dialogue. that was the purpose of it. they were receptive to be, you know, giving them a heads up that i'm coming to rush it. then we talked about the problems of us russian relations. and as a journalist, i pursued the issue of russell phobia. received information incorporated into an article that i published fully source people know where the information came from and this is what they're focused on. so the fact is, any american journalist who engages with russia about russia in order

russell down 17%.his morning, the russell is trying to bounce back from three straight sessions of 3% losses. that is the first time that has happened since black monday all the way back in 1987. the moves for the russell down 9%. we are keeping a close eye on tech after the mag seven lost $653 billion yesterday. you see a bit of a rebound here. all of them in the green. these five here. apple up .50. nvidia up 2%. you are seeing green from the five of seven mag seven. we watch the volatility trail off and watching wild moves in the vix. big moves to the upside here through the recent days. you can see right now the vix sitting at 33.65%. for a lot of the year, at least recent weeks, you saw it in the 12% to 14% range. a big upside here. we are checking the bond market with the 10-year yield near the lowest level since june last year. take a look. the ten-year yield at 3.84. we have to look at the energy market this morning. oil prices bouncing back, but still hovering near the lowest level in months.

and lloyd russell—moyle a former labour mp. lloyd is kmart right there.he's saying there that an easier way might be sort of processing individuals in france and then bring them over legally. and that may stop the illegal arrivals. >> she's broadly right. i mean , >> she's broadly right. i mean, let's remember that arrivals are from irregular means are actually down from what they were 15 years ago. it's just 15 years ago. people came in the back of trucks, and now a smaller number is coming over on the boats . so because they dealt the boats. so because they dealt with the eurotunnel. yes. it's actually a reducing problem. but the problem has been that it's then also more dangerous. and so we do need to tackle it . and we do need to tackle it. and personally i think the idea of a french processing centre where you can be carrot and stick about this and you can say, okay, we've seen that you're arriving on a dinghy, we're going to pick you up, make sure you're safe, and we're going to take you straight to our processing centre, which happens to be in nort

i'll just say it was russell. so to joins us now from the funeral at the most, which is being held here in the midst. so can you just talk us through exactly what is going to happen over the next few hours there? well the funeral pay year off the how am i supposed to go? the chief was this estimate that this might have here is going to take place shortly in mohammed been up and we'll have mosque right behind me. this is the central mosque in, in the high and is one of the most historic one source is the more it looks like we're just having some technical difficulties hearing it from russell sort of there. but we will come back to him later in the program. and we're going to get some oh, it seems like we have got rental so the bank will get back to you. right. so can you just uh, pick up where you left off the steel people are keeping them arriving here. the temperatures are sorting. so particularly when you are getting close to the pay of time, now actually the pay record is on more and more people out of common.

the russell down 3.4%. ten-year, yesterday we punched below 4% for the first time since february. we're just above that right now. big drop, at 420 back on monday. as the narrative on the economy and the fed is shifting dramatically. citi not wasting any time after that number this morning, calling for 1.25 points cut this year with a half point in september. the market is coming around to the half point cut view. who better to talk about this than the economist everyone is talking about, claudia sahm. we'll talk to her in a couple of minutes. the carnage in the semis continues with the etf down 10% on the week now. nvidia down 6%. intel, investors are bailing on the turn around story. 27% drop in the stock. worst day since 1974. you'll hear from the ceo ahead in this hour. apple is managing to hold on to some gains, but look at almost up 3% in this take, that's impressive. still, it has questions about -- or cap ex spending more broadly is dominating the tech earnings cycle this week. one of the big player

and a strong day for the russell 2,000, too. does it hold into the final day of trading tomorrow? that remains to be seen. that's going to do it for us here at "overtime," though. >> “fast money” starts now. >>> live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. out of the woods? markets rallying hard on the back of better than expected jobless claims. did the data really take the recession off the table? and can stocks finally hold opt their upside momentum? >>> and love for lilly. shares soaring after sales of its weight loss drugs trounced expectations. is there any stopping this red hot trade? >>> plus, zillow renovation. bit count bounces back. and earnings from paramount, expedia, and capri. the moves coming up. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- steve grasso, karen finerman, dan nathan and guy adami. >>> stocks jumping across the board. the s&p up more than 2%. its best day since november 2022. the dow gaining 700 points. the nasdaq up nearly

i think with the russell it does represent the domestic economy the u.s. economy so there is a time that maybe it was going to be clear sailing no harsh regulations or taxes and all that is back in play so the russell rally is over. liz we came back a little bit but i think the last hours would be tough. >> were looking for the rescue boats. i'm not seen on the horizon. liz: as we kick out the final hour of trade, no doubt about it the next 59 minutes of trade will make a difference between a market thunderstorm in an outright cyclone smashing into wall street the downpour of panic selling started this morning sparked by increasing recession worries in the wake of friday's anemic july jobs report the dow went straight down south at the lowest point retreated 1238 points, right now we are down 1053. off the worst of it but a loss of 2.6% that is a decent chunk, as that is the s&p retreat looks down 168 or 3%. at the lows it fell. slick close to 5100 which would've shoved it over into the edge of correction right not 5175, not too far from it let's look at t

o'toole and russell will go back to florida. colonel wilson will sail back to kentucky or to get to kentucky and. tom ferguson, thomas terrified during the ocean voyage. he was very sick during it. even if he managed to sleep through a lot of it, recreational, going to go to europe and did not want to make that trip. so breckenridge gave him about $50. i think and a letter of safe passage that he said will get you safely anywhere you wish to go back to the south tom wanted to head back to find his family in arkansas and so they've all their ways and breckenridge will sail off first to england and then to to europe, where he's trying to close out the last affairs of the confederacy. there is confederate money over here. not a great ever, but the confederacy has run up and he wants to see that those debts are paid off as well as perhaps to find some money to help in the defense of jefferson davis, when he went on trial done with that, he will then sail for canada throughout this whole voyage. interesting because we had multiple ac

i'm comparing that to the russell 2000 median, you know, the 1,000 stock in the russell. >> i see.nderstood that. where are you on s&p earnings? do you have an estimate? >> we originally thought this -- that 2025 earnings at the start of this year would be 260. i think it's tracking closer to 280. so it's not that market is cheap on next year's earnings because that would be roughly 20 times, but i thinking if we think about market breadth expansion we want to think about the stocks outside of the mag seven and i think there's room for expansion. >> tom lee, thanks for joining us. >> as we head to a break a road map for the rest of the hour. apple and nvidia reportedly in talks to invest in openai. what will that mean for all those companies. >>> plus, dell shares heading higher on the back of its latest results. what investors need to know. >> as we head into labor day a new list of the best companies to work for in america. who took the top spot. "squawk on the street" back after this. it's time to grow your business. time to get customers. time to make your future, now. create a

secondly, they're going to probably take that t russell logistics targets an energy refinery such as in the pad of subject, which is the way they may be a raid. i don't think it's really an invasion and they're going to undermine the as an army by striking out as logistics as they have done throughout the war, which has been a very effective tactics to them. so it's a very daring and high risk operation. but it seems to say to us, that was steven blank from the foreign policy research institute institute in washington dc as to the us presidential race. now the republican candidate and former president donald trump has agreed to a televised debate with his democratic opponent, commer harris. next month, speaking from his florida home, trump said he wanted multiple debates and suggested 3 dates in september. harris has confirmed one will take place on september 10th, and left open the possibility of more opinion polls show an extremely close contest with harris racing lead. the trump had over joe biden since she entered the race just 3 weeks ago. a trump news conference was 1st since h

ian russell now campaigns for online safety.to silicon valley. one tech boss told us things would get better. i don't think we'll ever be in a place where every single image that violates our policies is off of our platform, but it's our responsibility to get that number to as close to zero as possible. content moderators, like these in berlin, alongside automated systems, try to remove the most harmful posts. the platforms have made progress, but today's research by the charity set up in molly's name says there's much, much more to be done. it analysed 12 million take—down decisions made by the big social media companies about self—harm and suicide material. facebook and instagram, owned by meta, each accounted forjust1% of those decisions. x was worse, reporting just one in 700. and while tiktok did remove three million items, it only suspended two accounts. what's really clear from this analysis is that the failures of technology companies, it isn'tjust a glitch. this is a fundamental, systemic choice not to invest in identif

the russell 2,000 still seeing more pain, 2.2% lower. but remember, you saw the nasdaq 100 down more than 2% the last two sessions. today you're actually doing just a little better. the russell 2,000 down more than 3%. the last two sessions now only down 2.2%. the philadelphia semiconductor index, as we said, turning green. let's look across as settings, because the v.i.x. is still above 30. certainly higher than it has been most of the last year, but we did earlier today touch 65. those are very rare levels. historic levels, but bare levels nonetheless. the 10-year yield, the bond market is starting to turn around. we saw the two curves disinvent a little earlier today. let's show you exactly what's happening across the curve. yes, there's a little movement, but the short end of the curve is stunning. you are seeing now a five basis point rise in the two-year. this is part of the curve. earlier today, that habits lowest 364. that means we have jumped more than 30 basis points. we are hanging out now nearly five basis points higher at ab

bueno, en caso de trascender el equipo team russell clasificaría a los octavos de final en donde ya hayvia. seguiremos escuchando obviamente la voz de los protagonistas y también hablaremos de los giants que hoy jugaron ante los nacionales de washington. pues sí, a los que les toca ir día con día, evento tras evento y después pensar por lo que venga. sí, también han dicho que la liga mx está bastante fuerte, así que vamos a estar pendientes con esos partidos. muchas gracias, max. nos vemos. con esto vamos a la pausa. el consulado mexicano realizó un evento que busca asistir a las comunidades indígedenas l no en fresno está celebrando la semana de pueblos originarios e indígenas de méxico en el exterior. bueno, dicen que con estas jornadas lo que pretenden es ayudar precisamente a la comunidad inmigrante, especialmente a la indígena. esto independientemente de su estatus migratorio. vamos con susana gonzález desde hace 3 años. el gobierno mexicano lanza un programa a través del instituto de mexicanos al exterior para atender las necesidades de las comunidades indígenas. durante esta sema

the russell 2000 showing its resilience, so is that where you want to be when rates drop?ask our next guest who's on connect with his expert analysis after this. ♪ ♪ i'm on my way, i'm make it. ♪ big time. ♪ i've got to the make it show, yeah, big time ♪ e way home. that's right james, it isn't. car, where are we going? we're here. (♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com when the sawdust settles and the engine roars the thing you care about is a job well done. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪ choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels. because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. everywhere

points throughout the course of this week but it was not just these indices, let's look at how the russell 2000 reacted friday, because not that long ago we were talking about the rotation out of large caps into small caps, well friday was another case in point of how well small-cap indices did, with the russell 2000 ending the session up 3.2% higher on the day, inching back towards all-time highs we saw just a couple weeks ago. it wasn't just equity indices that reacted. we saw major market moves across rates and usd. flipping the board, so you can take a look, the two-year, the front end of the u.s. treasury curve rallied eight basis points friday. the market is now pricing more than 100 basis points worth of rate cuts until the end of the year, which implies more than 25 points of cuts per next meeting, so some are implying that september has 30 priced in for a. the dollar unchanged today but slipped 1% on friday and brent in focus. trading just shy of $80 but still off about half a dollar today, about 0.6 percent stronger given the geopolitical tensions over the weekend. that is it for

that's about 60% of the russell 2000. so, if those cohorts and those pockets of the market are not doing well and outperforming, it's going to be really hard for that index to exhibit leadership and take the baton away from the large cap indexes. >> i did mention the other hurdles that are in front of us as we're learning along here. earnings, certainly chair powell and jackson hole starting next week, steve leishman joins the conversation now. steve, if the chair, sort of, set the table at the meeting that ended a few weeks ago, does he go ahead and serve up the appetizer to investors in jackson hole that they're ready to go? >> i think he'll strongly hint that the appetizer is coming. but he can't serve it, scott, until the meeting. and there's a bit of work that we have to do between now and the meeting. i actually have a little list here that you may want to take a look at. the next thing happening here is going to be the chair's speech. but that's followed by a lot of data. you've got to pce a week after that. you ha

ian russell now campaigns for online safety.e image that violates our policies is off of our platform, but it's our responsibility to get that number to as close to zero as possible. content moderators, like these in berlin, alongside automated systems, try to remove the most harmful posts. the platforms have made progress, but today's research by the charity set up in molly's name says there's much, much more to be done. it analysed 12 million take down decisions made by the big social media companies about self—harm and suicide material. facebook and instagram, owned by meta, each accounted forjust1% of those decisions. x was worse, reporting just 1—in—700. and while tiktok did remove three million items, it only suspended two accounts. this is about investment. this is a choice because the technology is there to detect this. we can see some platforms rolling it out, but in the absence of any incentives, in the absence of data, in the absence of anything that will make the companies do this, they simply will not do it on a vol

i'm russell high unemployment in a country where the median age is just 28, was one of the grievances fueling. the recent anti government protests with protests leaders, demands met for change at the top, many bangladesh. these will now be hoping for improvements in their day to day lives to the same as long as the journalist with the daily star newspaper in dhaka . she told us what it was like to see mohammed eunice warning does most of the people of bangladesh. it's definitely a new hold for a new political landscape, but also for rome of units itself himself. this is a bit of a, i think it's comic justice in a way because of the former prime minister had really, really persecuted a number of units. there was a barrier and she faced a beverage of cases which have very little legal standing and, and the celebrated nobel laureate, was truly in many ways you mediated in our country. we were essentially a country without a government for the last few days. and i think we really saw firsthand what country like that didn't look like because there were no pops on the street. the police ses

the russell 2000 underperforming.ting on a day where we very much have the consumer in focus. but the russell 2000 down .4%. dani: which is so closely tied to the front end of the curve. you had to thread this perfect needle for the russell 2000 to outperform. that is, getting cuts to some size and having an upon me -- having an economy that doesn't fall apart. lisa: and having cuts that are not necessarily going to be in response to a true deterioration. if you look at the bond market you are seeing 2-year yields lower. on that front you are seeing people take what raphael bostic changed his tune to this morning , and it seems like they are setting up for rate cut. the question is whether deterioration will cause bigger -- than expected. the 30 year marginally higher. the question, what does inflation look like and what does the fiscal picture look like, even that all of the different plans we are hearing, none of them are talking about that production. annmarie: you do not want to talk about debt reduction in an ele

watched all these warning about fighting could cause a serious accident and rushes curse. collegian russell grossey is visited a nuclear plant in the area. he says he sold traces of drugs strikes me, of the facility. ukrainian forces have been advancing into curse for 3 weeks. that has been activity near here. i was informed about the impact of drones, how he was shown. some of the residents goes and assigns of the impact they had on a bart from that. the fact that we have, as i said military, mtv d. a few miles from here, a few kilometers from here to make it. yeah, and immediate point of attention. your crime says it now controls almost 1300 square kilometers and a 100 settlements in the russian border region. of course, its forces have captured nearly $600.00 russian soldiers and staging a surprising cause. you know, on august 6th, russian forces have been fighting for weeks to repel the offensive dose of jabari has moved from coach hotels in the curse region of russia. a rough l grossi the director general of the you are nuclear watchdog, has spent the day in the curse power plant looki

don't guys warning the fighting could cause a serious accident and rushes kursk region. russell across, he has visited a nuclear plants in the area. he says he sold traces of drugs strikes me, of the facility. ukrainian forces have been advancing intercourse for 3 weeks. now . as that has been activity near here, i was informed about the impact of drones, how he was shown. some of the remnants goes and assigns of the impact they had on a bart from that. the fact that we have, as i said military activities, a few miles from here, a few kilometers from here at make it. yeah, i mean media at the point of ident you crying to saying that now controls almost a 1300 square kilometers and a 100 sacraments in the russian border region. of course, it's forces have captured nearly 600 russian soldiers since the state since staging a surprise incursion on august 6th, russian forces have been fighting for weeks to push back the offensive. dawson jabari has moved from church at towels in the curse region of russia. the russell grossi is the director general of the you are nuclear watchdog has spent

uh, by russell's it is purely because of geopolitical reasons. so what they are supporting model for instance is the exact thing that. 3 they are going to condemn georgia for or some other country. so phrases in model what we see uh practically a frag down against the most popular opposition party, the most popular kind of party in the country. sure. i mean, ukraine we have, uh, we have, i mean, uh there were political murders there was, uh, banning. i mean, just recently the orthodox church was banned in in ukraine. so the page of the freedom of religion is not even guaranteed. uh, but the core reason is geo politics, so there are no values that the us defending. and this became more and more obvious that i think that their credibility is already completely controlled. russell says the door to you, membership remains open for georgia. if the country bends to as well and changes as political course is this type of pressure likely to change to place these direction as well. first of all, georgia as some other countries will never join to you, but

i'll just here as russell and jordan has moved from washington dc. it's 2 weeks after joe biden suspended his re election bid to be you was president and endorsed commer harris. the us vice president is a head of the former president, donald trump, by just one point in a new poll from cbs news. and you got this pole which in fall to the survey of more than 3000 likely us voters indicates a real. it's susie as him search for the democratic candidate. 2 weeks after the big shake up in her party side. there are more people who are described as african american who say they are now likely to vote, as are an increased number of young people and an increased number of women who indicate that they are going to vote and that they are much more likely to vote for harris, that they would for trump, all 3 of these communities had been seen as putting forward lack luster support for jo button before the shake up in late july. for his part, the former republican president donald trump has put out a statement, castigating the result of the new c b s poll, suggesti

okay, we're going to about harold russell a bit, but harold russell is is the he plays homer in the film. he's the name is the sailor who's lost both his arm and harold russell actually did lose both his arms, but it was in a training event where he was doing the training and. hollywood. he was nominated for best supporting actor. but the didn't think he would win it. so they gave him an honorary award and. then he won the best supporting actor award as well. big becoming the only person in history to win oscars for the same role. so if you have that on trivial pursuit or something, that is the answer. it's harold russell. okay, so this is set in boon city. they don't tell you what state it's supposedly patterned off of cincinnati ohio but it's actually filmed in californi so it's fascinating that william wyler wanted very normal look to the film. so he gave his cast money and told them to go buy their costumes off rack. okay, so theresa right. myrna loy, virginia mayo, they just all went to a regular department and bought regular clothes. so you do not see them dolled up in hollywood co

the selloff continues on the russell. the russell, worst week for the small caps, going back to spring 2023. march 20 23, we were talking bank failures in america. we want to talk about equities. stewart kaiser of citi, reduce exposure. our established view is to run long equity risk unless until the market shows long-term weakness. next up in this conversation, i some services at 10:00 a.m. eastern time, the one to watch. the bond market, let's talk about this monster rally at the front end of the yield curve. the two-year making a move of 50 basis points plus just last week after a 50 basis point move in the month of july, we are down another 12. dani: this pendulum swing in the market has been constant and painful. rus skoesterich talked about it, that we were entering the year thinking six cuts, then we had no cuts. now we are talking 50 basis point cuts and an intra-fed meeting cut, 60% odds of that happening. jonathan: some of these consensus trades have unwound insect a vicious way, and the perfect example of that

russell 2000 stuffed with small companies. they have been the beneficiaries of rotation away from tech. chipmakers getting hit the hardest by more than 5%. the fix is moving higher. today's data points include weekly jobless claims hitting almost a one year high in manufacturing. that pushes lower as traders are more convinced to cut rates in september. they are now pricing in three rate cuts this year. to put that into context for us, it's go to natalia to give us some equity movers and some more details on what we are seeing today. italia: let's start with those bets on interest rate cuts. we now see the market is pricing in three rate cuts by the end of this year. of course, that came on the back of yesterday's federal reserve meeting. today, we also got weaker than expected economic data, jobless claims, and ism manufacturing. but now some traders have looked at the price reaction and are concerned that weak economic data is getting bad for the stock market. let's look at some of the biggest movers today. tesla is up by 6%

underperforming. >> yeah, look at the russell mid cap.s up under 10% this year. the dow jones is up less than 10%. you're looking at the magnificent seven eight stocks, that make up 33% of the s&p. 43% of the nasdaq 100. come on, kelly. once you get overweighted that way, you know the game's over. >> i know, but listen, i'm on board with you intellectually, i'm just watching the market action. >> well, you know, short term, i don't know where the market's going to go short term. i'm trying to look long-term and say are you going to be able to play tomorrow or not? maybe you are, maybe not. you can look at the carry trade three weeks ago, and then it comes to a point of unraveling, and everybody is going oh, lord, what's going on? i'm just looking at the mid-cap sector is where people should be putting their money, because if you look at it, so far this year, $$120 billion have come ot of stock equity mutual funds and $10 billion in money market funds. rates come down, that money's going to come out of money market funds and where will it

also he thoroughly, i'm italian or colombia in columbia, in spanish, spanish and south korea as a russell, japanese and japanese. yeah, yes, no, scotsman or irishman. and they were fee amount and that's a shame as well. that's good to see. so there's a lot of different people that are coming to help russia and tell her how, how long do you think it's going to take before rush? it completely defeats ukraine? i believe we finish with the next year, all of these troops and i spend time or square common in there volunteering. and they're volunteering for the purposes of finding fascism. because they'll realize this as the next. a central spiritual war between the side of light and the law in naturalness and god, in the side of darkness demon has them in every form of perversion and corruption. i think you'd see a lot of americans come to the side of russia as well. the and settling in for the night the spartan military must be in the old days in the american army. the right list would be the lord my strength, which teaches my hands to war and my fingers to fight. i shall give the tongue line

hamilton led a mercedes one—two just edging out team—mate george russell.i will be hamilton's replacement at mercedes next year. the italian�*s debut for the team in friday's first practice didn't go to plan for as he crashed george russell's car. he wasn't injured, but it meant russell missed almost half an hour of second practice because the team were repairing the damage. and england's cricketers have extended their lead beyond 400 runs against sri lanka on the third day of their second test against sri lanka at lord's. joe root�*s hit a half century. that's all the sport for now. some breaking news to bring you now regarding the notting hill carnival, which took place last weekend. the metropolitan police are saying that a young woman who was stabbed at the carnival that she was attending with her young child has now died. she was 32 and she had been taken to hospital for treatment for those injuries following the incident at the carnival. there were a number of stabbings at the event and a great many arrests, it has to be said. some of the people who w

how russel, which is actually really moving slowly on all of this. they do have manpower issues, and i think that they're a bit skeptical. they're wondering, you can usually does a 12 punch. they're wondering where the next move is for the printing. and so they're kind of slowly watching to see what the next move is. so what, how russia will respond has been much lower than most people have expected, but i think they're trying to anticipate what you claim will do next. and they're, they don't want to be fooled and be, you know, brought into this kind of ukrainian trap. how to take that point on, what is you crying? going to do next. currently, we're seeing the consult as anything deposition, they blown up bridges. now that blowing up palm to him bridges the russia put in place. what do you think is going on on the ground? right now, what do you think ukraine's trying to achieve? oh, we definitely don't know the full plan, otherwise we would lose this above what is over beyond the sounds of all. there were 3 main goals or from the military point of vi

russell is a lot smarter than that — of playing. russell is a lot smarter than that.ange the formation change and we have seen all sorts of things happen and keeping the squad are fluid, that's— and keeping the squad are fluid, that's a — and keeping the squad are fluid, that's a big part of our game now. mike, _ that's a big part of our game now. mike. just — that's a big part of our game now. mike, just describe the mood, you're at newcastle right now, in the build—up later today in the match between southampton and newcastle united, amongst fans, what is the mood light ahead of this match? i think there is a really good mood, i think there is a really good mood, i think everyone has a realistic expectation about what will happen today but it's the first game of the season so anything is possible. maybe we catch newcastle out and big thing for me would be to not concede and score a goal, which might sound obvious but i think that will be the key for us, not to dash back to put the ball in the back of the net. aha, the ball in the back of the net. question for you bo

you have huge exposure in the russell. when the market believes the cuts are imminent, or maybe it's september, i think that's when the small cap call works. we've been wrong on the timing. i would like to have seen us to be up 20% at this point, but i still think 50% could happen before year end. >> wow. before year end. you stick to your guns. let's expand the conversation and bring in bryn and young yu ma. bryn, you want to weigh in? tom is really optimistic. we could start with the small caps because that's the wow moment, i think, that we could do 50% between now and the end of the year. >> i've been talking about this all year. really explicitly, i don't like the russell 2000. if he's right and we were to get a rally of that magnitude in small cap, what that's going to tell you is, yes, we did have a soft landing. yes, economic growth is happening. and so i think a lot of things would do really well. i think in order for small caps to have this type of rally, you need to have a soft landing. and we need to continue t

you mentioned the russell 2000. so there are some names there that are much more appeasing valuations than we see with onlr names. eli lilly, these are big name, 58, forward p if e, uber, 71. tesla, 88. you're looking at the smaller and mid cap names and you're saying what? >> you're starting to see, you know, that a discount really kind of stand out at you, you know, because you're seeing a discount to the larger cap names by, you know, 2 or 3 turns in terms of multiples, a 20% discount off the top. and you see yourself the earnings growth opportunity in small cap is starting to look much better for 20 that -- 2025. companies are starting to be a little more confident about the longer term look, so you can invest in that longer term earnings duration in small caps at a discount right now comparatively what you've seen as these large caps especially with the big concentration of the mag 7 has drawn things up to the top. liz: your small cap core equity the holdings in the goldman sachs' fund there up about 9% year to

ian russell now campaigns for online safety.but it's our responsibility to get that number to as close to zero as possible. content moderators, like these in berlin, alongside automated systems, try to remove the most harmful posts. the platforms have made progress, but today's research by the charity set up in molly's name says there's much, much more to be done. it analysed 12 million takedown decisions made by the big social media companies about self—harm and suicide material. facebook and instagram, owned by meta, each accounted forjust1% of those decisions. x was worse, reporting just1 in 700. and while tiktok did remove 3 million items, it only suspended two accounts. what's really clear from this analysis is that the failures of technology companies, it isn'tjust a glitch. this is a fundamental, systemic choice not to invest in identifying and removing content, essentially turning a blind eye to harmful material. the online safety act was meant to force reform on silicon valley, but ofcom, which has the power to levy hug

the russell is getting clobbered, down 3%. are awaiting double a earning after the bell. amazon, e-commerce giant are expected earnings to judgment 6% from a year ago on a 11% pike in revenue. 4:30 p.m. eastern, apple the iphone maker, reporting a 7% jump in earnings and everybody will be watching. clues for the iphone sales. have they picked up once again? meantime speaking of clues, consumer spending in those reports we are expecting, our "countdown closer" picks consumer staples among his picks, 1.6 trillion in assets stephen dover. you like the consumer area? tell me what you see there makes you feel okay especially a time people are concerned about a slowing economy? >> today was certainly a day the hard-liners for recession must gleaming. that is not the camp we're in we're saying not likely to be a recession. that said tomorrow could be a bad day with the jobs report. infamous claudia sahm indicator could trip. my guess you will be covering that tomorrow. we don't think we're in a recession. if we are, the fed has a lot

we will talk about harold russell a bit, but harold russell plays homer in the film. he is a navy sailor who has lost both of his arms. harold russell actually did lose both of his arms but it was in a training event where he was doing the training and hollywood -- he was nominated for best supporting actor, but the academy didn't think he would win it, so they gave him an honorary award, and then he won best supporting actor award as well. becoming the only person in academy history to win two oscars for the same role, so if you have that on trivial pursuit or something, that is the swer. it's harold russell. okay, so this is set in boone city. they don't tell you what state. it is supposedly patterned off cincinnati, ohio but it's filmed in california. it's fascinating that william wyler wanted a very normal look to the film so he gave his cast money and told them to buy their costumes off the rack. okay? so teresa right, myrna loy, they bought regular clothes, okay? you do not see them dolled up in hollywood costumes. this is all very regular and you get that feel

the russel is getting absolutely slammed. biggest percentage loser here. what's behind the panic selling there and if there's any money leaving and going into somewhere, where do you think it's going? >> well the markets afraid of two thing, liz. first off is a recession because the rule was triggered today. that's when the unemployment rate, three-month moving average moves up a half a percent higher than the lowest three-month moving average, 12 months before. that's a mouthful but the markets are worried about a recession. that's why small caps are down and yields are down. the second thing happening is the unwind of the japanese carry trade. the nikkei is down 20% that's a lot more than the nasdaq and that's because the bank of japan has been the global liquidity provider while the west tightened to fight inflation but the fed has not stepped in now the bank of japan is tightening so you have this liquidity dislocation pocket and guess what's happening? it's a big unwinding of the most crowded trades because the liquidity is drying up and the most crow

look at the russell 2000 to it 50s day, the semiconductors, to its 200 day. the test next week how we react off the moving average. do we bounce off of that or drift lower, meaning that this correction is deeper and more protracted? we can't judge that until we start to see the bounce, but we would note the markets aren't technically oversold yet. maybe there is more churn to come. >> listen, it's a traditional day, and it sounds weird to say that. gold is over 2500. utilities are up. apple is up. people are looking for safe places. i won't say safe haven because that's redundant. safe places to put their money. do you expect that to then be unwound when we go back to, quote, normal at some point here, keith? >> i don't know if we're going back to normal. i don't know what normal is. i will say we've -- in our portfolio we added gold a few months ago and think it's going to be a good hedge because geopolitical risk is rising, uncertainty about the u.s. dollar. made a new high. technically looks great. in moderation we think that makes sense. we're overweight