The bill nar has the blews these days he will explain why his businesses are struggling and the things that could get worse beyond that and what hes trying to do about that power lunch starts right now yes, it does the nasdaq hitting another all time high today. Its on strachan for its sixth straight day in the green. Bob has more for us. Modest weakness on the day. That tends to mean tech will still out perform. Thats happening today. Its airlines under perform and transports and Logistics Companies like jb hunt and fedex tend to out perform. This has been going on since the coronavirus issue back in february and march and again you can see that happening today. Ben carlson pointed this out the top ten stocks by market caps are up 10 so far this year the top 50 are up 2 but look at the bottom 50. Down 39 thats not a typo. Thats a huge disparity. Its true big stocks tend to be important. They always move the market. Bottom line is they have never been more important than they are right
Bad session like we saw in the u. S. , snapping out of gains. New york futures are slightly higher. The dollar is stronger. We saw quite a bit of steepening in the Treasury Curve. Youre seeing the threeyear at around 24 basis points. We did see the spike in yields, slightly off that now in the Asian Session after the treasury unexpectedly announced that refounding announcement. Boosting that issuance on the long end of the 10 year and 20 year with the auction so markets are bracing for that surge in supplies. Were also watching currencies, remedy still very much in focus here today. The message the last couple of days has been calm down, we have slightly stronger fixings here. Were seeing the renminbi slightly down. We are continuing the rally of brent crude, slightly higher by half of one percent, just below 30 bucks for brent. Looking ahead to the data now. China set to rae release trade figures later today. Exports likely dropped 11 from a year earlier compared with a 6 decline in m
We start here in the uk, with travel worries for thousands of Airline Passengers as pilots at europes biggest budget carrier, ryanair, walk out on strike at the height of the Summer Holiday season. The action by ryanairs uk based pilots began at a minute past midnight and will run until midnight tomorrow, the busiest day of the year for air travel. Ryanair is due to carry over a quarter of a Million People on more than 1700 flights from the uk over the 48 hour period. Its drafting in extra pilots and has promised to operate a full schedule of flights to and from uk airports. But it says it cant rule out small delays or changes to flights. Its telling passengers to check their sms or email or the compa nys website. More industrial action by uk pilots is planned between the 2nd and the 4th of september, unless an agreement over pay and conditions is reached. Ryanair failed in a court battle to get the strike blocked by britains high court. But it did succeed in stopping a strike by some
Surveillance. I am Francine Lacqua. These are your markets. A lot of these european stocks higher at the opening. Now they are down a touch. Lets call it flat. I am looking at oil. A lot of the picture is contingent surrounding iran so you see a little bit of a lift up for american crude. What is going on with these european markets and you are seeing it reflected in yen. Yen is the one story that is the haven. Any risk attitude is reflected on yen. European stocks, a lot of investors are looking at these amounting into political risks. Ifore getting some figures. The german index, 97. 4. We get up around we get the with hernan a cristerna. Lets get to the bloomberg first word news in new york city. The drumbeat for Federal Reserve rate cut is getting louder. Minneapolis fed president says he called for a reduction at last weeks meeting. These comments reinforcing expectations the central bank is on course to cut rates. Trump says he would be able to demote fed chairman if he wanted to
Long. Morning joe starts right now. I have opposed efforts to ban Deadly Weapons of war like the Assault Rifle used to carry out this crime. The time has now come for me to take responsibility for this failure. Which is why i now call on the United States congress to ban Assault Rifles like the one used by the sick perpetrator of this mass killing in my hometown of lewiston, maine. For the good of my community, i will work with any colleague to get this done in the time that i have left in congress. Thats democratic Congressman Jared Golden of maine, changing his position on gun reform following wednesdays deadly Mass Shootings in his hometown. Well have a live report from lewiston, maine, as the manhunt for the suspect is expanding this morning. Also ahead, well go through the Major Development out of The Middle East overnight. The United States military carrying out air strikes in syria. This comes as iran is threatening the u. S. In connection with the israelhamas war. Good morning.