For this earnings season well see if she has what it takes to convince the other traders to buy but firs, we start off with the records now closing at a record high, but the real move came from an unlikely space retail yeah, you heard that right the xlt searching, more than 2 , posting its best day of the year just when we thought it was lights out, target ups guidance push iing that stock to a one month high j. C. Penny, kohls, macys, all up 4 or more. Is this a retail renaissance thats for real . Karen . It might be for real. I dont think the bounce is over it has been down, down, down for months and months and months to have one great day, i dont think that means the party is over you had parties moving a lot. Gap up 6 on the target news, thats just people saying the short trade is over for now. Some of these have just gotten redick louse there is some value there. Im long foot locker. It hasnt traded at this valuation in years is this sustain bable or just something theyre talk iin
Goldman sachs on deck. Still up 7 10 of 1 . Front and center, will they disappoint . The banksides earnings, Mitch Mcconnell yesterday pulling the bill he had been working on to replace obamacare. Instead he says he will try to repealing the Health Care Law that keeping it in place while Congress Tries to figure out what comes next. Joining us now is Kevin Cirilli. , he develop in washington wants to repeal obamacare, will it happen . Kevin unlikely. With several sources that say that it is unlikely that despite Mitch Mcconnell and President Trumps assertion that they would like to see the senate and the house vote on the 2015 repeal bill the votes might not be there. Route, do go this starting the clock on a twoyear timetable for lawmakers to come together to try to come up with a new alternative to obamacare before it would be fully repealed in two years. That said, i spoke with a senior aide to a republican member, one of the four lawmakers who opposes this bill and i can tell you,
Eases the strain as the city looks ahead to the olympics. China has a puzzling problem, the labor market tight, unemployment low, yet wage Growth Continues to be week. Weak. We rarely talk about Wage Inflation in china. The other thing counting down to the open in china, last week, we that roller coaster ride brought together the nasdaq have a look at my chart btv 6495 on your terminal. We are looking at valuations about the same, 35 times current earnings. Is downhelp the chinext 14 while the nasdaq is up 18 . Perspective,ion right at parity. We talk about the nasdaq the nearer ring of that gap. We have a huge week when it comes to tech earnings, amazon, facebook, twitter, also big financials. That will determine the tech rallysoftware that goes from here, then looking ahead to the fed and u. S. Gdp at the end of the week, the imf report also interesting to see how they see u. S. Economic growth. On the last one, they did downgrade it. We are 30 minutes away from the open. Southeast a
In weighing on the dax and automakers like volkswagen, daimler, and via bmw. Against theeaker yen. Dollaryen down 3 10 of 1 and the vix up by 5 , but really we are looking at potential record closes below 10. That would be a very long winning losing below 10 streak for the vix. Brent monitoring as well happening 1 on the highs of the. Ession the opec secretarygeneral says many things are looking at changes to be ahead of the curve and nigeria has no ambition to exceed to the want 8 Million Barrels of oil a day. Jonathan in the market is it easier to monitor exports than production . Alix it is actually not in that it is difficult to understand which numbers to use from exported. Production at least seems to be a relatively cohesive number. Jonathan 48. 62 this morning. Up by 1. 14 percentage. Alix david westin is monitoring all things in washington, d. C. With a special guest. David we welcome our Bloomberg Radio listeners for an important interview we are going to have with Daniel Tar
10 00 we get the isn manufacturing data for july and later this morning u. S. Automakers will report july Light Vehicle sales. Good indicator for the market and Consumer Spending. From shakeups to the white house to the senate remaining in session, every day brings new twist and turns. The man who follows it all is kevin cirilli. I guess we have to start with the white house. What happened . He barely lasted 10 days. Yesterday i spoke with several sky Bridge Capital announced scaramucci was fired by kelly hours into his first full day as chief of staff at the white house. Essentially they are saying this was general kelly trying to himself on day one to give himself a clean slate. The statement from the white house announcing the firing. Himself on day one to give himself a clean slate. They say that Anthony Scaramucci will be leaving his role as White House Communications director. He felt it was best to give chief of staff john kelly a clean slate and the ability to build his own tea