Economy. At 9 00, mario draghi speaks to the European Parliament. At 10 00, will get the data for new home sales. Alix we will take you through the top three stories. Xi forever. Also we have a bond bear, bond cold situation. Morgan stanley says by. David to go over it all, we are joined by lisa abramowicz. Xiant to go into thisx forever. The committee announced that it proposed that is limited the president to two terms. This is in vance of a parliament meeting. This is in advance of a parliament meeting. That is growth not that growth of gdp but the rate of growth of gdp. Blue line is the shanghai composite. That is level. He hasnt done to better job. Lisa they love him and he is trying to cement his putin like status. He is in a second fiveyear term. He is in his mid60s. There are a lot of questions. He has a heart attack ahead of him last month a lot of he has a heart attack ahead of them right now. Stocks and bonds in china are rallying because of Political Uncertainty is viewed a
Crude rollover continued a little bit as the dollar trends higher. David at 10 00 this morning eastern time, President Trump will speak at the conservative Political Action conference outside washington. At 10 15, new yorks William Dudley and Eric Rosengren appeared together in new york here it the fed releases its semiannual policy report to congress. At 12 30, President Trump goes back to the white house to meet with australian Prime Minister malcolm turnbull. Alix we discussed the top three stories of the morning. A 315 billion china blowup. Higher wages may not lead to higher inflation . Where is the inflation in japan . David we are going to welcome Lisa Abramowicz and michael mckee. I heard when they bought the waldorfastoria. This shows some of the places where they made investments around the world. This came from nowhere, for me, and grew really big. Now the Chinese Government is saying, not so fast. So manyis raises issues, especially after what we have seen with hna, another
When he wrote that negotiations on daca have begun. Republicans want to make a deal. Democrats say they want to make a deal. Wouldnt it be great if we could finally after so many years solve the daca puzzle . This will be our last chance. There will never be another opportunity. March 5th, talking about the deadline he has put in place. One interesting note on this subject, the budget director Mick Mulvaney over from the white house to testify on capitol hill today to testify about the president s budget and he said the white house is anticipating a daca deal. Listen. The proposal that we sent you actually contemplates a daca immigration deal being done because we recognize the fact you have no interest in giving us money for full border wall unless it is part of a larger immigration bill so we fully contemplate that deal is reached. Reporter that is interesting. They work it into the budget projections. That is one subject. The other is trade, with members about the house and senate a
Buying a ticket on american and hopping on united. The dow has come a little bit off the lows. Down 239 points right now, the nasdaq is down 1. 7 . So no problems at the nasdaq. And yet, the nasdaq is actually down about. 4 more than the dow. Now, of course the dow does trade nasdaq stocks as well. But the point is, it would seem that the data were seeing that the declines are not based on this trading issue, outage, whatever you want to call it, right . May be more global macro. The benchmark tenyear treasury note yielding 2. 2 . And thats actually a 2. 5 move, guys which is not quite double that of the dow. So bonds are moving more obviously overnight in china. This is turning out to be a seminal day for the stock market. We had 1,400 Major Chinese companies suspended in trading. Not for these reasons. Many of them suspending their own shares because the decline. And something i pointed out early this morning, guys, which is this chinas stock market value declined in 30 days has been
With our rulses to suspend trading because we wanted to make sure that nyse stocks wouldnt be negatively impacted. Trading on platforms other than the floor was uneffected and despite the halt nyse consolidated volume which captures trading across all platforms was heavier than normal due to the Global Market sell off. Speaking of stocks lets check on how todays session is shaping up. U. S. Equity futures looking for a bounce back after the big sell off yesterday. Dow futures implied with an open plus 150 points. Heres big stories were watching today at this hour. Well start with china. Beijing taking drastic steps to prop up its market there. Along todays move banning shareholders with large stakes in listed firms from selling. It closed up nearly 6 . Elsewhere, south korea rates overnight but did have the countrys Economic Growth forecast. And then of course have to keep updating you on the situation in greece. Meantime germanys Central Bank Warns that greek solvency should not be in