Bond purchases in Something Like 88 months. The ecb can buy up to 1 3 of the countrys debt. In the u. S. , still about 3000 on the s p. Yields being moved higher by yields in europe. Crude down 2. 6 . The renminbi is being whipsawed a little bit as well. We were down to 7. 05 and change a bit ago, and now back up to 7. 07. Ecb president mario draghi spoke after the rate and policy decision today. Here are some of his thoughts from the news conference. Mr. Draghi the risks surrounding the euro area Growth Outlook remain tilted to the downside. We still think the probability of recession for the euro area is small, but it has gone up in view of the weakening Economic Outlook and the continued prominence of downside risk. Governments with fiscal space should act in an effective and timely manner. We have a mandate. We pursue price stability, and we dont target exchange rates, period. Vonnie this was the big final one for mario draghi. He has another press conference in october, but this w
Moments about why they might be. Restarting qe and continuing it until necessary. Now for thetiers pointsand further basis into negative territory in terms of the key interest rate. In the United States, we are up three points for the s p 500. N activist story is doing well value act getting in on carport stocks, up about 8 now. The 10 year yield at 1. 70 . Crude is lower. We will be examining why later on. Just want to point to a strengthening china renminbi as well. There are marginal headlines on china. China is trying to tier talks and negotiations into two tracks. Google is up 0. 75 . We have a settlement in europe, 500 million on the part of google. We will talk about what that means for the company. Right now, investors rewarding the company. Coming up, Marathon Asset Management chair and ceo Bruce Richards will join me. An exclusive conversation coming up in one hour. The European Central bank cutting Interest Rates tend more basis points below zero to 50 now, announcing plans
Opposition to the plan. And oil falls as opec calls on producers to abide by output shery shery . Lets start with a check of how markets closed in the u. S. The s p 500 closing above 3000 again, just one 5 short of its alltime high. It was boosted not only by fresh stimulus coming out of the European Central bank but also a bloomberg report that the Trump Administration is now considering offering a limited trade deal to china. We saw the dow gaining 45 points on the nasdaq closing at a july high, gaining for a second consecutive session. Almost every sector on the s p 500 was on the green except for energy. As paul mentioned earlier, oil fell today. We had the International Energy agency warning opec of a daunting surplus of crude. That really not helping the oil market. U. S. Futures at the moment unchanged. Lets see how we are setting up for asia. Sophie this friday, asian futures are hinting at gains. Central Bank Developments very much top of mind. Overnightust holding after a vol
Markets the dow and s p back within 1 of record highs. The nasdaq is higher today as well and 2 from alltime record highs. Check out microsoft. That stock jumping to a fresh record high after announcing a 40 billion buy back, thats helping the do you today well have more on that later. Lots of big names making big news leslie picker has all the market moving news and there is a lot of it. Leslie its a busy and eventful day. So i think were going to kick it back over to bill and im going to head to the desk and well continue our discussion. What a good idea. Thank you, morgan. Come over. Were wondering how worried investors should be at the alpha conference believe that our economy is being propped up by a strong consumer right now, should investors start worrying our push to record levels is going to stall out bring in Brian Jacobson with Wells Fargo Asset Management and christian amami is with investments. Thanks for having me. A lot of the investors, the feeling is that this is as go
Joining us for the hour stephanie link from nuveen, a tiaa company so we lost the gains is it on fears ha a trade 2k5e8s getting pushed snout is the market expecting a trade deal at this point i think were a little more optimistic about a trade deal most recently and thats why we rallied as much as we did and thats why rates actually increased over the last couple of weeks but yeah, i think the commentary today about trade kind of pushed us down. But i really think were still trying to digest what the fed said yesterday i do think it was a hawkish cut but i also thought that powell walked it back why was it a hawkish cut . Because you have the dissenters and you were talking about it yesterday you were right on it as soon as it came out yesterday about the dissenters and i totally agree with you on that heres the quandary. The Economic Data in the sfats is not bad we had great housing data yesterday, pretty good data on housing, i. P. , retail sales. Jobs continues to be good. So if he