And details on the unwinding of the Balance Sheet. We see all of our major averages slightly off their record highs as we wait for that. As we wait for that, lets take a look at the bloomberg here. We have a chart of the s p 500 versus not just the fed Balance Sheet, but the return on the assets that the fed holds. Andave the s p 500 in white that securities owned by the. Ederal reserve since 2015 we have seen them go sideways slight gains in some performance, certainly outpaced by those of stocks, and we have had a lot of commentary around what the unwind is going to do since the conventional wisdom at least is that quantitative easing helped the growth of the growth of the fed Balance Sheet has helped the stock market, so we might see this hurt the stock market. And speaking of shrinking, we are watching the Food Industry run into some struggles here. General mills out with its numbers, three years sales slump is what has been experienced here. Earnings missing estimates, sales missi
Out withee a playing the aussie dollar. I want to highlight copper, off about 1 . That stronger dollar story radiating throughout the commodities. Update ons get an what is making headlines outside the business world. Made aurricane maria has bad situation worse. The storm knocked out power to the whole island, and caused intentionally billions of dollars in damage. Continuing the population exit is that help push the u. S. Commonwealth into bankruptcy. In mexico city, there is a race against time to rescue a young girl trapped in the rubble of a school. She has been there for more than a day since a killer earthquake rocks the mexican capital and the region. The death toll is now 230. Dozens of buildings have collapsed and dozens more are in danger of falling. A british Prime Minister theresa may may try to jumpstart brexit negotiations. Needs discussing the use for a brexit bill worth tens of billions of dollars. Global news, 24 hours a day, powered by more than 2700 journalists and
Lauren is this the jacket of the future that lets you answer phone calls . Fbn am starts right now. Train to a 5 01 a. M. In new york. Good morning. Im cheryl casone. Lauren good morning good lauren simonetti. Looks like a regular jean jacket if you ask me. Cheryl are they just put up with the sensors and i had at some point. Lauren breaking news. The latest gop double steal obamacare essentially of my supporter. Susan collins joining senator john mccain, rand paul and ted cruz saying no to the grahamcassidy bill after the Congressional Budget Office is millions of people would lose coverage under legislation. Train to adam shapiro with all the details. The future for the grahamcassidy bill seems to have been sealed and late monday when it seems to release it to your, essentially said that it would save 133 billion in Government Spending for roughly 10 years, that millions of people would lose insurance. Early in the day we heard from him at the bills cosponsors, senator Lindsey Graham
Google takes a challenge to apple and amazon. The focus now is on Artificial Intelligence. Kathleen who will be the next fed chair . A story the keeps on giving. 24 hours ago we got news from bloomberg that trump aids that trump aides have given him a short list. Who trump is going to pick, nobody knows. Stan fischer would not say. Heu can get the sense is not in favor of girls for a fed chair. He thinks you have to have flexibility in be able to change very quickly. Whoously, no one will say will get it, but that is what everybody seems to be talking about. Yvonne nevertheless, market see them out. A slow grind this time around. Why we are talking so much about who the fed chair will be on this slow day. Ended 50 up. Nzx 50 up. But pretty much flat on the asx 200. Retail sales for august coming up in the next hour. Aussie continues to be continues to defy buyers. Still above that. 78 handle this morning. Japanese futures lower by 10 . A higher open in tokyo by about 70 points or so. D
Expectations opec will extend output curbs. China Energy Giants report later. Haidi apple fans counting down to the iphone x. Apple asking chipmakers to double capacity. Right, we have Energy Companies in china reporting. I want to bring up a chart, 80 to 96. This is petrochina. This is the biggest destruction of shareholder value in history, and it could take more to convince analysts the stock has hit autumn. Peaked on the first day of trading 10 years ago. Check it out. It has lost 800 billion in market value, i enough to buy italy,isted company in or circle the earth 31 times with 100 bills. Many analysts think the pain may not be over either. In terms of a broader picture, we are looking at a event risks. We had that positive gdp print out of the u. S. On friday. This week, fed leadership and the fomc meeting, boj, boe, china pmi and Inflation Numbers to paint the picture of whether we are getting sustained Global Growth. All of this for Bond Investors to contend with. Lets get ov