Again for privacy concerns rolling around this project. Of the block founder of london joins us to dig into the details of what could spell doom for the Digital Currency lets get to it. China is still closed for the last day of golden week but later on this week Vice President premier league is expected to meet the u. S. For its 13th round of trade to go she actions in washington bloomberg has reported that china has significantly narrow the scope of issues that theyre willing to discuss and that china will not commit to reform a industrial policies or government subsidies to of trumps main complaints but has china really narrow the scope no this is the exact same stance that china has maintained since the beginning trade and policy have always been 2 separate issues that must be treated as such in fact back in may she had reported that restrictions on state owned enterprises go beyond the scope of trade negotiations and touches on try. As fundamental Economic System there has been no
Florida. Even though it is still bad enough. Still bad see the reinsurers, worst performers last week, up 5 right now. Irma has been downgraded to a Tropical Storm now georgia and alabama are in its sights while the hurricane as bill mentioned buwasnt as bad as it could have been, the Economic Impact is real Jackie Deangelis having a look at impact on agriculture like sugar and oranges. We were talking about that last week. Well see what the impact may turn out to be. Plus 6 Million People wait for power to be restored, were going to talk to duke energys florida president about the efforts there. And the ceo of florida insurer, heritage, will talk about how his company is is assessing the damage as the cleanup begins lets start with the big rally in stocks, up more than 1 on the dow. The s p is in record territory joining our closing bell exchange, mark lehman from j p securities, steve grasso at post 9. Rick santelli at his perch at the cme in chicago steve, were calling it a relief r
We will break it down with all of the details. It is it 00 a. M. In dubai. 5 00 a. M. In london and midday in hong kong. You are watching bloombergrg markets middle east. What a genetic finale to the week with strong earnings coming out from amazon. Not just setting the tone for next week, but helping a lot of key benchmark industries in the u. S. Let me run you through the numbers. Nasdaq 100 is a record on its biggest gain since march of last year. We had the s p 500 hitting a new high after the u. S. Gdp numbers came in stronger than expected. Strongest executive orders in three years. It was not all rosy. Ge still under pressure, down 13 for the last week. Strong gains for nasdaq up 2. 2 percent. In terms of where we are with u. S. Tenure paper, speculation continues on who will be the next fed chair. Treasury yield falling. They are at 2. 41 . And showss the board you other key Asset Classes that have been on the move as of friday closes. Brent topping 60 a barrel for the First Ti
Before we get to markets and , President Trump talking about airlines doing a amazing job under foreign pressure. Spoke with executives which does not include the ceo of American Airlines. He says Foreign Airlines are supported by the government and he is telling airlines and airports that we want to take care of you, reiterating his critique of obsolete, in other news he also says he will announce something on taxes in the next two to three weeks and he says airlines are related as much as anybody. We will bring you that meeting playback as soon as we get it. 30 minutes into the trading day. Julie hyman is here, with the latest. Julie there has not been any reaction in Airline Stocks to some of these headlines coming out from the meeting. We are seeing a bit of a bounce back in u. S. Stocks. All three major averages up between a fifth and a quarter of 1 . Lets talk about what is driving of the driving those gains. We are still in the midst of earning season. If you look at some of the
We have been conditioned to believe that good news is bad news because it might make the fed raise rates. Now though when the fed has finally declared its going to raise rates we regard this strong jobs number as a sign that things are good enough for the fed to tighten so bring it on. Dow roaring 370 points. Just higher all day. S p rocketing 2. 5 . Nasdaq 208 . Is it correct . Theres a lot of weakness in the u. S. Manufacturing economy but thats now less than 10 so maybe it doesnt matter that much. Its almost as if were in some sort of weird post Industrial Society where we have accepted the fact that our country has already lost enough industrial jobs that any pain in that sector from a rate hike will be minuscule in its impact in the overall economy. Thats amazing. I mean, look, if this were 20 years ago i would tell you that we would go into recessions. Its a sad statement that theres not much industrial in this company but thats the way it is. Were now operating under the assumpt