September. What is interesting, with the this on the screen, unconventional transaction of tesla. Additional 5an billion of shares geared toward perhaps the nonmainstream, the nonwall street crowd. Tesla is interesting because people using bubble with stocks. 2 tesla. Tom a recent secondary, even with moonshot on the markets. This will not be publicly offered. It will be Equity Distribution and distributed by banks as tesla chooses. Somewhat akin to what we saw with lesser successes. Here,l be widely studied the why of this transaction as well as the need for 5 million they are looking for. Here andarkably up big still elevated from where they were. What else are you looking at . Ina the story today markets, aside from tesla, is the dollar and the question of whether people are going to say this is the end of dollar supremacy or if this is just an indication of the low yield, the negative real yield and this idea of global trade. It is the two sides of the story. Tom not only yields do
A beautiful new york today. Good morning in washington boston. Early good morning out in san francisco, to all of you across this nation on sirius xm. We also say good morning to anna edwards in london. Why are we doing this . It is august. Ferro is off. From whats is off abramowitz is off. I said, i want anna edwards, and here she is. I am going to go optimism here with bob doll any moment, with home depot and walmart and all that. Explain to our american audience the place of Marks Spencer in the United Kingdom psychology, and what it means that one in 10 bodies will be shown the door. This isnt necessarily a very optimistic way to start the hour, but Marks Spencer, a huge retailer that was on every high street in the u. K. It is going to be getting rid of one in 10 of its staff, mostly through retirements and the like, but it is not just about covid19. This is a secular trend that has been affecting the retailers. Not only do they have to deal with the fact that a lot of their custo
Setting up defenses against a possible takeover of burberry. Lets head to the markets desk where julie hyman has the latest. Julie declines steepening as we get out of the gate. Just half an hour into trading. Already stocks hitting the lows. The s p doing the worst of the three, not the pattern we have seen recently. The chinese export data and the japanese gdp data, and commodities breaking down, stocks cannot sustain their gains. We have energy and materials, the leading groups yesterday, down big. Each falling more than 2 . It is a broadbased decline. Consumer staples little changed. Besides that, a lot of red. In stocksen selling and buying in treasuries. Yesterday to some extent as well. The yield on the 10 year note going down to one point 82 . People looking for safety today. 1. 82 . G down and with Economic Data out of asia, commodities are having an effect. Oil prices, which had gained as much as 1. 5 one point 5 , now plunging 2. 5 . It is not clear if anything had happened.
Expectations. Mine were a little higher, but 211,000 is enough to push this market up. We are seeing gains of about 1 across the board. Question es the why would markets rally at the chances of raising Interest Rates are even closer now than they were before . Up and that shows what future markets are reporting the chances that a rate rise are at. I have the chart here and it is just up, up, up. At one point, they were 78 today. Darn sure that janet yellen will raise rates in december. Betty instead of seeing yields up, they are down. Matt very weird. You would typically see people sell bonds ahead of a rate rise. In any case, take a look at the front end of the curve. The twoyear briefly spiked up and then came back down. Many people are buying wants right now. And a look at the 10 year see that what the back end of the curve looks like it still buying into the tenure as well. Gold is also fascinating as well. It came back down. It is operating at 1000 7930. This is an asset class tha
Surveillance. Withuy johnson in london tom keene in new york. I heard you on the radio this morning. You sounded good. Good, you let me know what was going on. You sounded great today. Guy i feel a warm glow of appreciation. Today feels like a weird day. Is adding stimulus. Oil seems to be stabilizing. What seems to be going on . Clumsy tuesday. We have oil on a bid but we have smart guests to get us forward. John silvia will be joining us in the hour. Guy looking for to that. Lets get everybody up to speed. Vonnie the white house is calling the killing of six u. S. Soldiers in afghanistan cowardly. They were killed yesterday while on patrol. They were targeted by a suicide bomber on a motorcycle. The taliban claimed responsibility. Two other u. S. Service members and an American Contractor were hurt. Of tech raises the Number Service person killed this year in afghanistan to 21. The versatility is confirmed in the china landslide. Rescuers pulled a body from the pile of rubble. As man