Major averages are lower. Dipping dealing as low as a 1 decline, but all three still lower as we have concerns about Central Banks effectiveness in fighting global slowdowns. Not giving aspan much stimulus as had been anticipated. Franko heard from the fed kaplan who questioned the effectiveness of monetary tools or the difficulty in using monetary tools. If you look at the threemark ix, itmonth chart of the v shows it is the highest it has been going back to the period surrounding the u. K. Vote to leave the european union. If you look at other assets, the is seeing an uptick or gold futures are rising for the sixth straight session, and crude oil futures are trading lower. That is how this macro view is playing out. Lets go back to stocks. Transportation a huge drag. Delta going down after unit valley value fell. Royal caribbean lower after its earnings report, and forward, not technically in the transportation average, but it makes stuff that gets you place. They came out with july
And welcome to power lunch. Im melissa lee. All three major averages at session lows right now. S p 500 down almost 1 . The nasdaq the biggest loser of the three major indices. Were seeing the biggest oneday losses in fact in more than a month. And keeping an eye on the airlines, they are down big being led lower today by delta and thats Airline Index on pace for fifth straight down day. Michelle. Im michelle carusocabrera. Thanks, melissa. Heres what else is happening at this hour. Americans made more and spent more in june. The government reporting a 0. 4 increase in Consumer Spending. Thats the Third Straight monthly increase. Personal income up 0. 2 . The centers for Disease Control awarding 16 million to u. S. States and territories to fight zika. Thats in addition to 25 million in funds at the cdc awarded a month ago. And u. S. Automakers weighing in with disappointing results. All but toyota falling short of expectation. Fiat chrysler did manage a small increase in sales however
Experts weigh in breaking weigh in breaking news this morning said they appears to go to mass spraying a site to site this morning in an effort to control the spread of the disease and other cases reported this morning in miami. At night, the latest Insurance Company backing. Changes need to be made. What it means for hospitals in the u. S. Time warner set to the hoard its quarter ahead of the open this morning. The media giant to a decline in their hands in revenue a year earlier. Seen some pressure with futures indicate a loss of 30 points on the Dow Jones Industrial on the Dow Jones Industrial on the Dow Jones Industrial average. Stocks down seven out of the last eight days. Seven days in a row. The longest losing streak in nearly a year for stock prices. Your first look at arthritis government report. The adp report due out today. And europe, next miss. Folks earnings coming in. The ft 117 points. The dax up a fraction. A look at performance in asia and the nikkei average in japan