Hopes around that region of the world. Disney is out with what investors are seeing as it fantastic Earnings Report thanks to streaming. Nikola, not so much. We will be asking the ceo about the 9 climb. Just 89 days unto the u. S. President ial election and during election year, august returns tend to be higher, finishing starter finishing higher than at the start of the month. Joining us now is the author behind that report, george pearkes. George, obviously you have to think that this year might be slightly different. Is there any really fundamental reason as it why as to why it should be different . George the historical precedent in the United States is that it is disconnected from the market cycle. You do not tend to see huge swings in market purely as a reaction to politics which is more common in emerging markets or other developed market economies. 1928the long term, since when the s p 500 price data see positiveend to returns in august and for every month leading up to an elec
Enough clarity on the economy to justify restarting payouts yet. That decision is not yet final. Global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. It is 1 00 in new york and 1 00 a. M. In hong kong. Welcome to bloomberg markets. I will be speaking with bill ackman. We will discuss the debut of his new Blank Check Company which raised 4 billion in its initial offering. He will weigh in on what kinds of companies he wants to target with the money and other investments. First, lets look at the markets. We are higher. The nasdaq has erased all of its gains. 25 . P 500 is up mark forck at the 70 the you in the. With heating up today expulsion of the envoy from china. I want to point to the fact that we will be talking about in a moment and that is the Blank Check Company that is trading up an ipo today. The expectation was to raise 4 billion and we will be talking
The bank index up 2. 1 , telling you all you need to know. The 10 year yield is down to 67 basis points. There was a little bit of an increase in volatility today, up to 33. On the actual session, the vix index is slightly lower. Scarlet fu joins us halfway into the trading day for some more details on the scene. The scene seems to be about finding stability. If history is any guide, we are likely to get it. Seven times the s p 500 has fallen 2 or more since the market bottom on march 23. In six of those instances, the s p 500 came back to close higher. Indications we may continue to build on this advance. You mentioned leading the gains, regulators rolling back some of those put in place after the crisis. That should free up about 40 billion in capital. Regulators are modifying the bulk to allow increase of investments in d. C. Funds. You mentioned the stress test results after the close. Im keeping an eye on homebuilders because one trend that has emerged is the strength of housing.
Kong independence and shouting stand for freedom, stand with hong kong. A federal Appeals Court heard arguments on whether it should order of the justice departments prosecution. Attorney sayss there is no role for the judge to play now that prosecutors have abandoned their pursuit. Probe muellers russia powered by more than 2700 journalists and analysts in over 120 countries im mark crumpton, this is bloomberg. Amanda welcome to Bloomberg Markets. Top stories are the that we are following from around the world. U. S. Equities rise after yesterdays selloff. Paring those gains in speculation since the rally is overshooting economic prospects . A look at income inequality. We will speak with a professor his Rice University and about the civil rights protest and his research. Findings on an investigation into the downfall of the exchange. It cost 125 million in losses for 76,000 clients. A quick check on the somets, we are backing off of the gains we saw it early in the session. The big p
The s p 500 has climbed all the way back from down 2. 5 to flat. A little bit of strengthening from last week in the dollar index, but weaker on the day. The 10 year yield at 69 basis points. And a little return to climbing higher for crude, but it is lower on the equity downdraft. Halfway into the trading day, lets go to scarlet fu for more details. Scarlet you mentioned the paring of losses. Futures, the s p 500 futures have almost wiped out its early decline. And we are looking at that in the cash market as well. Of what is in leading things higher, Consumer Staples are doing the best in the s p 500. Names like kellogg and campbells, a clear sign of the risk off safety trade, even as we see the Overall Index make a comeback. And the tech heavy nasdaq 100 extends its top performance, 5 shy of a record high. Last week, we saw it the s p 500 by the most in nine months. Small caps are holding up better than the big caps, thanks to health care names like bbi vaccines, working on a covid