Colleges are told to offload holdings of mainland companies. Australia signs a deal to make any covid19 vaccine for all. The government will distribute should it prove successful. More vaccine optimism playing out in australia. Lets look at how we are shaping up in terms of the u. S. Future session. Another renewed push of momentum in u. S. Markets overnight, hitting the record, propelled again by the same names. Also betterthanexpected u. S. Housing data. 2016 helping out sentiment, as well. We have positivity when it comes to the active futures trading at the moment. The nikkei 225 trading in chicago, looking flat at the moment ahead of a trade balance numbers, as well as machinery orders. We do have the topix, best performer in terms of Global Markets so far in this month of august. We are looking at broad weakness when it comes to the u. S. Dollar. The dollar sinking to his lowest levels since may of 2018. Im worried about the u. S. Economy with yet no relief package, stimulus pack
Revenue. More labor strikes to come. Thousands of hospitality workers in vegas planning to picket this week after another round of failed negotiations with the casinos. Lets begin with the markets trying to build on yesterdays rally, jim. Were you surprised at all by what stocks and oil did . Yes. Actually i started my show last night by saying a little counterintuitive you could have both at the same time. If you take a look at the same time, obviously, vice chair jefferson speaks and boom, 1 30. They couldnt take the oil stocks down because of whats going on in the middle east. They didnt have the bonds because of columbus day. It was a threepronged oddity that the s p could roar and we didnt have the bonds to key off of and set up a picture that i think was counterintuitive to most people. You had logan and then jefferson talking about higherterm premiums and being mindful, they said, of the impact of higher rates. Yeah. I also think you had the note from edgar din any. Hes always d
Board. We are on track for the dollar index to have 12 straight weeks that is something that we have not seen but it matches aord streak in 2014. Are talking about sub 90 when it comes to wti as well as bren it has been a dramatic selloff when it comes to crude. Sovereign bond markets, mixed pie but mostly yields are ticking lower. Rishaad we have a gut check taking place after the rout we have been witnessing in the bears having a bit of fatigue. Looking at thailand, there is a rift between the Prime Minister and central bank and how that is spooking the markets. It is not playiut that much although it has in recent days. It is up 0. 2 . We have the baht steady at 36. 94. 50 futures with fair value in mind and thece he is indicating a flat picture a look forward to the bank in india decision on Interest Rates. We expect data to show the price rises slow down to 5. 7 from its. 8 . The big os nonfarm payrolls. Yv 170,000 is the consensus but it goes from00 up to 250,000. It de spectrum.
Just above estimates we begin with wall streets record run futures pointed to a muted open. The dow coming off a fivesession win streak. Plus broken Business Model . Elizabeth warren promising to follow the money when she questions former equifax ceo rick smith in a hearing this morn and pepsi shares are sinking. The beverage and snack giant beats earning but has a lower outlook. The dow, the s p and the russell coming off record highs. The Financial Sector posted its highest in ten years with watches on to see how resilient the market can be. I think what were seeing is a recognition that the economy is better so instead of paying low multiples for, what . Nothing, sorry, go ahead. My pepsi notes. Instead of paying low multiples for companies lets start with the banks. We are going to give the banks a multiple that looks like a stock. Do you know how long its been since i used to speak with brian moynihan, he does a great job and i would say okay lets say you can make two bucks, what
As for stocks this morning, lets take a look at the futures. Youll see right now that it looks like the futures are indicated a bit lower. Of course this is coming after 7 days in a row of gains for the dow. Its the first time its strung together 7 days in a row of winning streaks for the entire year. The dow futures are down by 85 points. S p futures off by 10 and the nasdaq by 28. Imports and exports both down. In the baltic. Theres a Cocktail Party and theres one to drop the baltic index which peaked in july and hasnt been this low in awhile. Were all embracing it because it helps the emerging markets and takes pressure off of us in terms of leading the world. Somebody else plays along with us, there it is. So now growth concerns again. And fisher is going to be on at 6 30 and here we are again. Is it true theres never a good time to have a baby . Theres never a good time to raise Interest Rates ever. I think any time is a good time for a baby. Its never the perfect time so just do