Free cspan radio apps. A conversation with Donald Trumps former National Security adviser hr mcmaster and bridgewater ceo David Mccormick, talked about the us economy and National Security hosted by the hoover institute. Welcome to the inaugural episode of statecraft innovation and leadership and we are fortunate to have with us David Mccormick, ceo of Bridgewater Associates responsible for overseeing strategy, governance and operation. David joined bridgewater in 2009, previously served as president and coceo of the forthcoming ceo this year, before joining bridgewater david with u. S. Treasury undersecretary for International Affairs in the george w. Bush administration during the Global Financial crisis and prior to that served a senior post on the National Security council and the department of commerce. From 19992005, david was the Technology Entrepreneur serving as ceo and president of publicly traded software companies, free markets inc. And prior to that was a consultant at mck
Company holiday to the calendar. And he are everyone tz artz o raise serious cash thats all here on Worldwide Exchange on cnbc. Good morning, good afternoon, good evening. Welcome to wherever in the world you may be watching. Here is how the money, your markets are setting up their day. Stock futures indicating the dow is likely to rise at the open. It is early. We are in the green. We are 116 pointsto the future side as well snapping the threeday streak. It did during the second day o temperature. With that pull back, blue chips need about 1,862 to complete that selloff look at the wild swing after a relatively calm one. Watching the credit and bond markets as well. 10year at 0. 73 look at oil. New data that shows Venezuela Oil output has collapsed to 570,000 barrels per day. That is down from more than three plus Million Barrels a day. That is a 76year low in oil output for the most oil rich country in the world a true collapse of venezuela there. Wti crude is up to 38. 32 around the
Possibility china might make efforts to im pose security measures on hong kong has some worried especially in asia today. My goodness, thats despite the fact that we did actually get some we started with vaccine data driving the markets. Look at the rally on monday to start the week off of the moderna news you had those positive vaccine comments from dr. Fauci saying the data looked promising, but its being overshadowed by everything playing out in china, whether its the situation with hong kong and what is essentially being seen as something of a power grab through a National Security lens or intentions between the u. S. And china more broadly and some of the policies that weve seen start to come in this week as well its interesting to see in general how this week has played out in the markets because reopening from a week to date standpoint has really led the way here it is the russell 2,000, the small caps which are seen as a proxy for the reopening efforts now that we have 50 state
Handle. We will see where that goes. We get inventories in 30 minutes. The dollar index is under 100 today. We have stronger currencies out , including the euro. A lot of data out in britain and on the continent overnight. Of course, as you can see, the 1. 2 . 00 down pound isnt as strong as it was earlier in the session. We did get Economic Data that was pretty dire. Gdp contracting a most 6 , but it wasnt as bad as forecast, so perhaps a little bit of a silver lining. Germanys 10 year yield at 62 basis points. Takinglor Angela Merkel on the german constitutional courts commode is going to be a fascinating battle. Delighted to say now we are , type or jimmy dunne send her vice chair, to talk everything market really sandler vicepiper chair, to talk everything markets. Jimmy, thanks for joining. We will get to the fund in a few minutes, the first, even more fun, these markets and the federal reserve. Jay powell seemingly put to bed the idea of negative Interest Rates, but the president
Lets go to bob. Hello there are a number of reasons we keep rallying. The bottom line is for the moment generally the market is choosing to see the Glass Half Full whats the Glass Half Full a number of data points. We did have better than expected china export data. Thats pretty good news overall. Were in range bound territory but the trend is slowly on the upside moving to the upside. Lets review the data. Thats a data point we had generally were seeing reopening hopes. Were also seeing a mass i fiscal monetary stimulus most people believe the fed is real the fed put is real and hopes for improved treatments and vaccines Glass Half Full for today. Theres days when the market is glass half empty and they recognize the risks. You can see that in down days. Further downward earnings revisions. A third of the s p is given no guidance at all. Its hard to figure out where the multiples are. Flst concern it will get bogged down in partisan debate in congress we all need more fiscal stimulus