Usually, but i had to take one i kept reminding you that good things can still happen. Sure enough today we got a confluence of great news that made people want to buy hand over fist. Buy, buy, buy, buy, buy, buy. S p up 1. 3 and the nasdaq pulled 1. 75 hallelujah. What happened what happened . Remember the consensus on wall street we were headed for recession, right well, then we learned that the white house has restarted trade talks with china we got some strong Economic Data terrific jobless claims number wrap it up i should have gotten a bow, wrap up a box and you have all the ingredients for a spectacular rally. So where do we go from here . Isnt that what matters . That was history before i break down my current world view let me give you some anecdotal evidence about where we are or at least where we thought we were until today. Im walking down the street going over to my small mexican place san miguel, you know what im talking about. A very nice neighbor stopped me and said, wi
Chinas talking tough about trade and sounding as though compromise is possible. Beijing warned it plans to retaliate for new u. S. Tariffs scheduled to take effect next month. China called the tariffs a violation of the accords reached by President Trump and president xi jinping. The Chinese Government said the leaders have kept Communications Going and hope there can be resolution based on equality and mutual respect. Six european nations are hoping to take the 147 migrants stranded on a spanish humanitarian boat off italy. Italy says france, germany, romania, portugal and luxembourg will help. Global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Shery im shery ahn. Amanda im amanda lang. Welcome to bloomberg markets. Here are the top stories we are following from around the world. American shoppers boosted spending in july, following fuel for heightened global uncertai
, because of tariffs. Here is the question. Is the president getting ready to take a softer approach to tariffs . Well be asking our china experts coming up. And more hong kong protests this weekend, organizers say 1. 7 Million People brave the rain to hold a very peaceful demonstration yesterday. Well get a live report from hong kong later this morning. And get this, the business round table, the top ceo group led by Jpmorgan Jamie dimon saying maximizing shareholder profit, your wealth, can no longer be the primary goal of big corporations. Whats up with that . Varney company monday edition starts right now. President trump china is doing very very poorly. Theyve had i just saw a report theyve had the worst year they had in 27 years because of what ive done, and they want to come to the negotiating table. Theyre losing millions and millions of jobs in china, and were not paying for the tariffs , china is paying for the tariffs, for the other countries it may be that if i do things wi
Im not hearing much by way of right now. Shedding nearly 900 points this week technology, the biggest laggard, their reinvolvement. Take a look at apple, microsoft, does that suggest its because a amazon and nvidia, all moving lot of these u. S. Economies still depend on that lower by roughly 2 or more in a thats kind of what were couple of cases. Well have more on that kelly talking about, right were talking about the fact 5g has civilian and military later. Tyler, thanks to the breaking news expected applications down the road so theres a great deal of concern this hour now. President trump is about to make how this is used in autonomous an announcement with trade on warfare should it come to that the eu there are always big eamon javers has more now. Conversations. I thought huawei was kind of the president s run ining a w taken out of the process to an minutes behind there in the roosevelt room at the white house. You can see cattle ranchers are extent, but not favorably so already
After new reports out of china showed the worlds secon largest economy is hurting and a separate report showed that germany isnt doing much better. That set thetone. Then our bond market gave the loudest signal of all, yields inverted. That means that shorter term treasuries paid out more than longer term treasuries, and that doesnt happen very often. But when it does, it has been a good predictor of recessions. Ulledthere investors money out of stocks today with the dow plummeting 800 points, it was the low of the day at 25,479. The nasdaq dropped by 242, the s p fell by 85. Technical. Of this is we know a lot of it is complex, but were going to do our best to try to explain it and describe how it could impact you. We begin with the market selloff and bob pisani at the new york stock exchan reporter the stock market is getting punched in the gut from all angles, including the bond market, which is now flashing warning signs of a possible recession. As it concerns yesterdays tariffs de