The yield curve inverts again, the fifth time in the last week but stocks are shrugging it off. Weaker than expected manufacturing data and this season of retail volatility continues sharp moves in the stocks with more earnings movers coming in the next hour. Watching signals of the Federal Reserve. Philadelphia fed president harker throwing some cold water on any imminent rate cuts. In december i was not supportive of the increase i was supportive of the decrease somewhat reluctantly this time around to get us back to where policy should be were roughly where neutral is i think we are roughly where neutral is right now and i think we should stay here for a while and see how things play out. Well get another view from the Federal Reserve in the next few minutes here on closing bell. Coming up, an interview with dallas fed president Robert Kaplan with steve live from jackson hole joining us for the entire final hour, is mark leeman mark, it does feel like theres a little more optimism o
Almost two weeks. Youre following through on that rally today, up 0. 6 . Eurodollar around key support levels. It is a broadly stronger dollar story. The bond market obviously in focus. No doubt we are going to talk about that terrible, no good, seven year bond option. I wonder, is that a threshold . Or was that just a fluke . David or was it late august . Globalime now for exchange, where we bring you todays market moving news from all around the world. Joining us in london is tony ahrens, on the phone from hong and on theen leigh, phone from when is a race from buenos aires is caroling a milan is carolina milan. Three activists in hong kong were arrested by police head of a rally. Karen leigh joins us with the latest. Karen Hong Kong Police arresting a number of prominent Hong Kong Police arresting a number of prominent speakers, including warning protesters that they could share that same space at illegal demonstrations this weekend. These are really raising tensions ahead of a 13th
1 . 2. 1 . Ericsson right now is down more than 10 . It as well giving a sober picture of asia, saying that it may be a little bit too optimistic on profitability 2020. S for back to the main story in the United States, bank of america with record secondquarter earnings on the Interest Income despite a beat on trading revenues. Bank of america following peers lower. Here with more is the gentleman owner and finance reporter. Stocks are up, clearly not disappointing too much, but a net interest margin. The stock is up i think because the trading results are good. Fixed income trading revenue is unchanged from a quarter of the year ago and that is surprising because all of the other banks that have reported, the big banks including goldman, they had sizable declines in fixed income trading. Bank of america held on to its revenue and thats a good sign. Equities is down but sort of almost everybodys was down. So that matters just as much for these big banks in the u. S. Is what happens on
Also tomorrow, the senate is expected to vote on the 9 11 Victim Compensation fund. In the house, legislation on Retirement Savings plans and border security. Watch the house live on our companion network cspan2. Tomorrow, Christopher Wray will testify in a hearing. Live coverage will be on cspan 3, starting at 10 00 a. M. Coming up on wednesday, the former special Counsel Robert Mueller testifies before the House Judiciary Committee and the house intelligence committee. That will begin at 8 30 a. M. Eastern, live on cspan and on our companion network, cspan3. It will also be online at cspan. Org. Listen with the free radio app. In 1979, a Small Network with an unusual name rolled out a big idea. Let they make up their own minds. Cspan opened the doors to washington policymaking for all to see, bringing you unfiltered content from congress and beyond. A lot has changed in 40 years, but today that big idea is more relevant than ever. On television and online, cspan is your unfiltered vi
Facebook has announced plans for a new Digital Currency, called libra. David marcus testified for the House Financial Services committee. The committee will come to order. The chair is often recess of the committee at any time. This is entitled based proposed crypto currency an impact on consumers, investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a have