Stocks that give back on slowing the global economy

The Fed targets the market: Gary Kaltbaum

Kaltbaum Capital Management President Gary Kaltbaum, Fox News contributor Scott Martin and FBN's Susan Li about potential further interest rate cuts by the Federal Reserve and concerns about the global economic outlook.

Stocks return some of the gains from the previous session after data showed that the UK economy contracted for the first time since 2012.

Britain's gross domestic product fell by a quarterly rate of 0.2 per cent, a Reuters survey expected a flat reading. Annual growth in economic growth slipped to 1[ads1].2 per cent from 1.8 per cent in the first quarter.


Last season, the Dow Jones Industrial Average and S&P 500 jumped over 1 percent, while the tech-heavy Nasdaq Composite rose over 2 percent.

Ticker Security Last Change % Chg
In: DJI DOW JONES AVERAGES 26340.05 [19659015] -38.14 -0.14% [19659016] SP500 S&P 500 2938.09 +54.11 + 1.88%
I: COMP NASDAQ COMPOSITE INDEX 8039.156033 [19659020] +176.33 + 2 , 24%

Safe haven like gold rose over $ 1,500 on Friday, the highest in more than six years.

US crude prices are up 1.4 percent to $ 53.25 per barrel.

The Labor Department said on Friday that the producer price index rose 0.2 percent last month, in line with expectations. In the twelve months to July PPI increased by 1.7 per cent, the same margin as in June.

Technology stocks are under pressure following a report that Washington postponed a decision to allow some trade between US companies and China's Huawei. [19659007] Ticker Security Last Change % Chg MU MICRON TECHNOLOGY INC. 42.63 +0.88 + 2.11% QCOM [19659013] QUALCOMM INC. 71.26 +1.86 + 2.68% AMD ADVANCED MICRO DEVICES INC. 33.92 +4.73 + 16.20% UBER UBER TECHNOLOGIES INC. 42.97 +3.27 + 8.24% CBS CBS CORP. 50.82 +64.61 + 3.33% [19659027] In the extended session, Uber shares fell 10 percent after posting weaker-than-expected quarterly sales. Rival Lyft enjoyed better results and increased by about 3 per cent, after beating revenue estimates in the second quarter and saying the loss for 2019 would be less than the previous forecast.


CBS Corp. had strong growth at the top and bottom as the company prepares for the transformation of a merger with the company's sibling Viacom.

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