The s p 500 and nasdaq did break a threeday winning streak, so closing both lower today. We got data on jobless claims. Really awful. It goes to show you that the wall street recovery since those march lows, up 40 as you just noted, melissa. It is really outpacing main streets recovery. If you look at continuing claims here topping 21 million, it suggests that employers have been slower to hire back furloughed workers. Lets talk about the retailers. It is a particularly painful time for them. Hit first by the pandemic and now damage from the protest although you wouldnt know that from some of the retailers stock performances were seeing today. Take a look at nordstrom. It is up almost 10 . I want to Pay Attention to the gap here. Higher today too ahead of earnings any minute now but they did get hit by a lawsuit, Simon Property group because they hadnt paid their rent. Also the nasdaq 100. It did touch an intraday record high. It has since pulled back as Big Tech Companies pulled back.
Chinas late rate cut. The asian market had to wait to this morning to react to that. Lets get to david inglis. The s p 500 futures in indication of how the u. S. Might go. How was about playing out in asia . David similar. What we saw in asia was the futures down. As the morning progressed, things did get slightly better. Lets talk about the shanghai composite first. It is having one of those violent sessions, it opened slightly higher, swung down 3. 5 , went down to about 5 , now we are up 2 for the day. One cut, thank you, but analyst pointing out for us that he is saying yes, rate cuts help. But trading will 29. 93 is the, number for the shanghai composite. Japan is the big player right now. This is what is really listing the asiapacific benchmark at this point. Have a look of the japanese currency weakening right now. Money is getting out of risk back into the securities. 119. 69 is the number right now. That being said, you put all of this together, it should be a much better day
An august day maybe because its a cool august day what a fantastic turnout on capitol hill and that is due to the extraordinary lineup of people who will be presenting and talking and that brings you here. Five years ago maybe before five years ago the United Nations with the corporations of the United States and many countries around the world began to plan for the future of world Global Developments and it would apply not only to the least developed countries but equally university to the critical space and affairs and human rights for development in the best equipped countries including the United States. Out of that conversation became this extraordinary set of Sustainable Development goals to lead the way for all countries voluntarily to collaborate and how we will achieve the outcomes of those goals as set forth for the years 20152030. We are two years into this and already theres significant progress to talk about the build on the progress of the millennium the following goals t
Up in the regular session about 4 . Its since come back in the electronic session. That has been a big influence on equities today. For that reason well see how stocks do into the close. Art cashin mentioned, there is a strong relationship between these two. Tmobile fighting back with its own plan. Books shares falling despite Strong Revenue and billings they reported last quarter. Ceo aaron levie is back with us. They just came public this year. We start with the markets. Stocks are up, now futures were down earlier today. China with a big growth problem, brazil downgrade, russia a mess and indias okay. A few years back somebody said these Brick Companies were great but when that brick is around your neck and the water is rising, that is not a good thing. You can drown with that brick. Im not bullish because i have problems with earnings growth, problems with multiples, all kinds of problems so i cant call myself a bull. If we have a 20 correction, i would buy. We have to come to cert
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