President. Road map begins with stocks moving lower ahead of the open, investors digesting trade war fears, latest jobs numbers, the uncertainty about the feds next moves. Trump tariff threats, the president promising to tax the hell out of china until a trade deal is reached. Oil prices recovering after the worst trading day in four years. Both exxon and chevron moving higher after reporting Quarterly Results this morning. Along with inline results for july, payroll gains were revised downward for both may and june the Unemployment Rate held steady at 3. 7 for a second straight month wage growth 3. 2 from a year ago, but manufacturing weak, year to date average 8k, works 22k last year and santelli pointed out, manufacturing work hours, the lowest since 2011. We know where this is all coming from. Were continuing to get a tale of two economies. Overall a healthy job report, came in line, better participation, better wage growth, a lot to be encouraged about, but there are pockets of we
Before the open this morning along with twitter overnight in asia, you will see what was happening there the nikkei ended down by almost half a percentage point. Hang seng was down by 0. 7 shanghai in china, you did see stocks higher. Up by a quarter percentage point. In europe, the three major averages had all been in the green. The dax up by 0. 3 the cac up by 0. 4 the ftse up by more than that. Italy and spain stocks there weaker spain down by 0. 7 in the treasury market, again with the gdp number coming up later this morning at 8 30 the tenyear yielding 2. 069 everything that happened with the ecb yesterday what that means for the fed, well talk about all that coming up in a bit. On the squawk planner, we have first look at gdp in the Second Quarter thats on tap. Forecasters expecting an increase of 1. 8 after a surge of 3. 1 in the First Quarter on the calendar we will hear from twitter, mcdonalds before the opening bell next week it gets crazy. It is the busiest week of earnings
Im Brian Sullivan its going to be a very busy day for the markets and your money the market still digesting and reacting to the news that President Trump will slap another 10 tariff on the remaining 300 billion in chinamade goods not already subject to taxes that goes into effect september 1st. Its also the first friday of the month, that means its the monthly jobs report day, which, if its very weak, could press the fed to maybe cut rates again in september thats if that number comes in soft the dow losing 280 points yesterday. It looks like we could lose more dow futures are down just under 100 points we walked in the door about an hour ago, they were down about 50 we are losing steam. Its still early anything can change. Do keep in mind context is key the s p 500 is still up 17 this year. The nasdaq 100 still up 23 . So the markets have absorbed this fairly well, but the markets not liking that new news on tariffs one index that youll see only on cnbc, that is important to Pay Atten
First half net profit jump for roche as they lift their Sales Outlook for the year the ceo tells cnbc the trend will continue into 2020. Given the strong momentum we have with the new medicines, we also expect growth beyond the current year and to be able to continue to overcompensate the effect of the entry of the bio similars. Astrazeneca shares hit a record high as they beat Second Quarter estimates. The ceo hales strong growth in cancer drug sales. It was a growth rate of 19 this was driven by oncology Franchise Growth of 58 . We got to 4 billion for the first half, china grew by 35 . So very great driver of growth for us and ab inbev beat Second Quarter forecasts as beer sales grow at their fastest pace in five years, while diageos ceo tells cnbc a taste for gin is boosting performance a lot of that growth is coming in the early evening occasion from ill call it boring wine an boring beer an beautifully served tangaray and tonics have a beautiful space to play. Just some of the la
S p up by a point. Nasdaq down by about 4 points. Overnight in asia, the nikkei up 0. 2 the hang seng up by a quarter percent. The shanghai up by a half percent. This is all ahead of those talks expected to resume next week between china and the United States when it comes to trade. This morning on the continent, in europe we will see equities for the major averages, the dax is flat. The cac is up by 0. 6 . The ftse is up by a quarter percent. In the treasury market, you can see at this point the tenyear is yielding 2. 031 well be getting a lot of earnings, big earnings movers in just a minute. First a developing story, the embattled governor of puerto rico will be stepping down on august 2nd the announcement coming late yesterday. He had been under pressure from protester force ne he had been under pressure from protester force ne for proteste nearly two weeks after chat messages were released crowds of demonstrators erupted into cheers after that announcement were looking at some ima