I am Francine Lacqua in london. Lots to get through. Politics filtering through your currency markets. First things first. Lets check in on your markets. Stocks down with the stoxx 600 down 2 10 of a percent. The euro slipping with most currencies against the dollar after draghis dumbest done vish message. At can see japan, the yen 111. 07 and the south african rand extending losses to a second session after the president jacob zuma survived a bid to oust him. Your data, but lets get to the bloomberg first word news with nejra cehic. Nejra the president at the st. Louis fed said the jury is still out on if the Trump Administration will meet wall street expectations. Some bullard said at point, the honeymoon period will come to an end and washington will need to deliver on policy promises that have driven the stock market. James the business numbers shot up after the election was perceived the president was perceived as more probusiness than the previous administration, washington does
This agreement was made years later. Spending nt defense level was made in 2007 at the regus summit, ip formal agreement to spend at least 2 gdp on defense spending. This was a decrease, pack in been 3 , because of end of the cold war, they downht the threat his gone and the alliance could have less defense spending. 2 of their own defense spending . Guest absolutely. Establishes the criteria and nato secretary general produces a report and tabalate what the country members spend on different parts of military spending, and things pension like that and give a report. Host how much money dot itself tosend to nato fund nato, how does that compare o what they are expected to spend on the military . Guest that is a separate budget, common funding pays for evere infrastructure, integrated command, there are three funds for that, one thing least well known is that about that funding for the alliance itself comes from european allies. United states has a cap, we pay 22 to 23 of overall fundin
Money have been enjoying lately seems to be fizzling out just a bit. The dow is down, not by much at all, about 22 points, but with todays drop that takes the dow negative over the past month. Melissa. Melissa lee. Heres what else is happening at this hour. A bunch of retailers missing the market. Another dose of earnings reports, target, lowes, staples all sharply lower. A brazilian judge ordering u. S. Olympic swimmer ryan lochte to stay in brazil as authorities investigate his claims of being robbed at gunpoint. Lochtes already returned to the u. S. Well have much more on this story from rio ahead. And speaking of the olympics, medals keep rolling in for team usa, america leading the medal count with 84 in total. China trailing with 51 followed by great britains 50, tyler. Melissa, thank you very much. Im tyler mathisen. Welcome everybody to power lunch. Weve got a very busy two hours ahead beginning with that big reboot shakeup inside the Trump Campaign staff. Is this whats needed
Will still be very muggy. A little cloudy there over salem street in downtown apex this morning. The sunshine will warm things up quickly. 73 in wake forest. 73 in south hills. 75 in rocky mount. 77 in fayetteville. Expect upper 70s heading out the nearly 90 by lunchtime and mid 90s for this afternoon. We are looking at a big cooldown by next week but over the weekend, it still stays fairly warm and muggy. The big change is our chance for thunderstorms. That goes up and ill talk more about that in just a few minutes. Brian is here with a look at the roads. This is the durham freeway this now pulling it over into the work zone there in that east end connector project work zone. It is a minor crash. Everything is on the side of the road. In the past couple of moments, all of the lanes have opened on the southbound side of the durham freeway. It is backing up a little bit there. Ten minutes that make the ride from mangum street. Dont think you need to consider usi alternate route but well
Nhs, if you look at wages, the bottom end, theres been huge pressures caused by immigration. And i think what nobody wanted to see wait. Was the question im asking you, though, is quite straightforward. Im sorry to interrupt. Its because we hope to end at 12 00. Im trying to clarify if you feel what youre saying now kons institutes im in favor of immigration. Im in favor of controlled immigration. Thats what you meant when you said you support unreservedly the expansion of the eu. Yes. Because even though there were no controls on the table at the time. It was the blair government, as i recall, that decided to ditch the derogations and allow unfettered so you were unfettered immigration. And that i think was a mistake. You were assuming that a derogation would appear . Yeah. Other countries exercised it. Of course. Other countries decided, mr. Tyrie, to protect themselves against such flows and continue to have the derogation. Something others we chose not to. Hannah has one point to c