Capital One Gets Hacked US And China Continue talks Today.

Capital One Gets Hacked US And China Continue talks Today.



all right good morning trip rose welcome to our morning market update for this beautiful Tuesday July 30th the 2019 I hope you're all having a great day we're in California Los Angeles for the week visiting the wife here she's doing a course and um had some separation anxiety so I came out to see the wife and then also to meet with a friend and I was also a trainer actually Anthony dragger great guy so we're gonna spend some time chatting but trading markets and spent some time at the beach as well so fun stuff let's get into our morning market update for today first and foremost we have some big news out of the UK Boris Johnson is trying to renegotiate the terms of the brexit deal and european union is unlikely to renegotiate anything they said the deal that there is is the one that they're looking forward to so i mean we knew that it wouldn't be a good and easy renegotiation and the europe didn't want to renegotiate but that confirmation there's dropping the pound below the 120 1222 key level trading down at 120 185 by 6:00 a.m. this morning all right while running the worst loss in three years for that currency so currency markets down on that and the brexit deal it's gonna heat up as we push forward to be September and October deadline that Boris Johnson's trying to accomplish his deal in alright in other news trade talks today includes US delegates Treasury secretary Steve Newton and trade representative Robert light Heiser they are in Shanghai today for meetings with their Chinese counterparts and trade representative and markets are sort of on a sit during a situation with the hopes for a new deal are pretty low they're not expecting to find any kind of agreement so they're more nervous heading into this meeting than past meetings I remember before that they would have a delegation or a meeting taking place so the market would rally without any significant news I think now we've shifted to a little bit more of a conservative conservative tone where the expectations aren't very high and when the expectations aren't very hi good news hence the factor and stronger so listen to the newswire throat today there could be some volume and volatile ii driven to do to this event we're gonna be keeping a close eye out on that alright so that's one thing that that markets are looking forward to now the second thing that's really important is the Federal Reserve is starting their two-day meeting today so today that will meet and discuss tomorrow they're gonna have a policy decision which is a huge opportunity markets are going to be pretty volatile and we're gonna see what comes out of that meeting will be trading that live with their elite team starting at 1:45 p.m. Eastern Time and we're gonna see what the Fed says and what the press conference holds but on in almost every Federal Reserve event that I can remember we've had a lot of opportunity in our elite teams done incredibly well so that's a volatility event we have to track with for tomorrow all right what else did I have here ja ja – damn shares of Capital One credit card and financing company down 3% pre market after they said a hacker exposed 140,000 social security numbers the United States and numbers of their credit card customers around 80,000 bank accounts and 1 million Canadians in numbers and that's very interesting we're going to talk with the Fed tomorrow all tomorrow's morning market up they'll be the Fed I agree with you they shouldn't cut the rate and I'll tell you why they are and what they're using to support their decision it's pretty much an insurance cut I don't think we need either but you know the Federal Reserve doesn't work for the economy it works for the stock market you have to know that that's the new dynamic of this fed for probably around a decade now all right so Capital One down 3% a lot of account numbers exposed including the 1 million Canadian accounts the hacker has been caught the suspect is page 8 Thompson who is a former employee that's so weird I just saw somebody walk in this week and may have been the shoes under I was in the hotel I just sort of hey you know that broke the flow you know I've somebody walking the hotel then break the floor watch it suspect page 8 Thompson former employee of Amazon Web Services all right the one who hacked and sold data he's been caught it'll cost the company approximately 100 to 150 million dollars in fees to restore and I tell you one thing that can't be restored the confidence of the consumer and so that's something interesting that we're kind of keeping tabs with when we look at some other news events us futures are pointing lower yesterday on Sunday rather for market now slide before I flew up to California we told you guys we expect the sell-off in this market early on in the week and we got it yesterday even though we sold off yesterday we had the lowest volume ever for the whole year just $800,000 $800,000 at trade on the e-mini S&P 500 futures very low in thin volume by 3:30 p.m. just 30 minutes for a closing bell it was only 600,000 even though he had a sell-off that sell-off was way too low volume for it to have continued sharply deeper so the pullback was likely and expected all right but on today's session I expect to see a little bit more thin volume less volatility as institutional traders start to pare back their trading in anticipation of the Fed meeting all right often time as traders we think about how much money we need to make support ourselves we have to think of it this way if you're an institutional trader who is moving you know instead of 510 contracts imagine moving five hundred to a few thousand contracts all right would you have the volume and the opportunity to take on or put out a position one day before the Federal Reserve event and would you want to knowing that you can be stuck in a multi-thousand long position and having the thin volume to get out of it all right and that's how you have to think so if you think institutional traders aren't gonna do that which they aren't they're not gonna make a really big moves they means volume is evaporating all right so what you're gonna see is more of the retail crowd out I think today we have a low volume consolidation day as we wait for the Federal Reserve and I think we have a massive trend movement in either direction they would just sit more quietly within a tighter range consult excuse me it's all day and wait for the Fed although if we were gonna move it would be bearish I have a slight bearish bias with more of a reason I believe we're gonna consult we're not gonna have as exciting of a day and that's alright because all the volatility tomorrow will make up for today's patients so today follow three rules of trading diligence discipline and patience but more importantly alright trade smaller-sized say trade less often and take your profit quicker and you'll have great opportunities for the day alright let's have a quick little review of markets and where they're at this morning in Asia Japan's a four tenths of a percent hong kong's up one or one tenth of a percent rather China is a four tenths India's down eight tenths of a percent I think I think there's a correction coming as well I really do markets don't crash from low as they crash from all-time highs where we are at the moment so I think it's coming I think the question is how will the market digest is fed news so we might have one more leg up just for everyone who's skeptical this rally I have one more leg up make them feel like they miss that and then they buy the top and we go down from there all right that's what I'm seeing in Europe at midday London's up 1/10 of a percent pairs down a 0.8% Frankfurt damn 1.6 futures in the u.s. Dow down 2 x SP down 3 pence Nasdaq down the most four tenths of a percent crude oil is up 1% Gold's up 1.4 all right and Bitcoin still below 10,000 but up 1/10 of a percent so this morning FOMC meeting minute meeting began officially today a meeting minutes and the decision is due out tomorrow 2:00 p.m. fall by the press conference at 2:30 by Jerome Powell and we had some data this morning 9:00 a.m. we have or we already had case-shiller home price index haven't had a chance to breed three EXO's doing this update 10 a.m. consumer confidence and pending home sales so the top of the hour we have two pretty sizable reports on the economic front watch that but all in all they expect a little bit retracted volatility as traders start to get prepared for tomorrow's really big event that's what I have for you today I wasn't able to trade yesterday at all I'm having a bit of an issue downloading data on my portable setup usually the first day that's what happens until you sort of adjust but I will be out here trading with the group or in fact to go to trading room now and we're gonna open it up for some analysis some trade ideas plan some levels and give you some high opportunity low risk areas where you could take advantage of the price action alright step being said thank you for tuning in our back to a regular morning market updates yes there was a travel day I bought Wi-Fi expecting to do an update on the plane I kid you not so much I've dedicated to you guys I bought Wi-Fi and I fell asleep with my hand on the keyboard I had all intention but I'd only slept an hour and a half and like look I really want to be trading an hour and a half sleep and I just slept for the whole plane ride woke up drooling on myself hand on the keyboard hadn't moved at all it's pretty fun pretty funny indeed I but I appreciate you guys thank you for being here and have a great trading day manager a straight trip bro and I head on over in the trading room and trade with the team you guys have a great day appreciate you all thanks for the comments on YouTube I send you guys love drawing happiness I'll see you tomorrow good bye and have a good rest today ciao

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