Headlines. Fang with all the headlines in the greens, apple, amazon, netflix up 1. 5 . Tech remains hot, hot, hot. Still to come, definitely coming on todays show, coronavirus cases climb and states continue to rethink their opening plans. Well speak with fed chair James Bullard, what it means for the economy. Shares of Taylor Morrison posted record sales well speak to the ceo about whats driving the strength in the housing mark up a third of the percent. Lets start focusing on the big stories. Mike santoli tracking the markets, meg tirrell with the rising case count and courtney watching flags in the Retail Sector mike, lets kick things off with you. Market idling right here, holding above the flat line for the moment it seems like stealth pullback consolidation weve had last few weeks, s p 500, talking about a summer trading range this is what we had last summer. It looked like that on a narrow basis. Scares in both directions. Were not there in terms of prolonged sideways action. Th
Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.
Doses ready to ship once they get the green light and speaking of green light, joe biden wants to go ahead and raise Corporate Taxes, he is tapping his inner Bernie Sanders and outlining his economic plans using terms like fair share and calling for an end to what he calls shareholder capitalism. We are all over that story you can bet. We may hear the president s response to mr. Bidens plan shortly, he will be leaving for an event in florida this hour. We expect he will speak to reporters before boarding marine one as he likes to do and you will certainly see that right here when it happens. You will also see very little let up in the tech rally, despite theyre down day overall, the big tech names holding their own with more record gains. Amazon, it is hit an alltime high for six days in a row. Not bad. Apple, not much of a pullback of the stays above 380 a share, same story for microsoft, not much of a drop there, for microsoft still at 213 box. Facebook is above 240, despite constant
A delay in israels plan to begin the process of annexing parts of the occupied west bank. Its 23 years to the day since rule over hong kong was handed back to china it appears the rule is now tighter than its ever been police in hong kong have detained dozens of people whose demonstrators protest the strict new security law imposed by beijing the legislation targets crimes of secession terrorism subversion and collusion with Foreign Forces however those opposed a it effectively marks the end of the one country 2 systems structure. That structure has allowed hong kong ptolemy from the chinese mainland demonstrates been met by heavy Police Presence throughout the day as they gathered to protest the war which came into effect on wednesday. Some food for her home although one thing the central authorities are determined to see an end to the chaos and riots over the past year and secondly the central authorities a determined to protect the majority of law abiding citizens in hong kong they
Been following the protests in hong kong. It does appear that most of the protesters have dispersed across a huge area around where we are which is where the march was meant to go ahead of course why buy into central france between one try a time square and caused by by also Victoria Park now we still have a Huge Police Presence on the streets and much as you can see behind me theyve pretty much cordoned off this whole area almost penina some of these protesters and and doing identification checks and arrests you can also confirm that 7 people have now been arrested under these new National Security laws clearly the police found that they were violating this legislation i want to example was a one man who was arrested he had half a 90 or certainly an item suggesting hong kong independence another person had a flag in a bag so when these people were arrested they were checked and they found these items that those particular people that will incur a large fine as a result of potentially