3386 is the number to watch for that s p 500 record close. 59 minutes until the close we have a big show coming up to day the s p 500 makes yet another run at that record close bob doll will tell us why he is expecting the economic recovery to be more choppy. And why hes cautious in the short term plus, gaming the impact of the dnc. Well speak with a policy expert who says this weeks Democratic National convention could be a negative for the market even though its happening virtually. Right now, were going to focus in on the big stories were watching to day. Bob pisani is tracking to days action we have the latest on growing tensions with china. And joining us with his outlook for stocks is tony dwyer bob, start us off with the Broader Market whats going on behind the scenes and whether you think we could see that record s p 500 close today. When you get this close within less than 1 he , you usuy can get over it. Were still not there. 3386 as you heard before is the old closing high t
To our viewers the most prominent voices and decisionmakers shaping the National Conversation over key issues of world affairs, including the rise of china and reemergence of great power competition, energy security, cyber warfare, the global economy, and the collision between democracy and autocracy, to name just a few. Our viewers can find the latest lineup of speakers and sign up for each of them on the Atlantic Councils website, follow us on nticcouncil, and engage in this conversation. We are truly delighted to have with us Robert Obrien from National Security advisor to u. S. President donald trump. He has in this capacity since september 2019. Prior to holding is important position, ambassador obrien served on the front lines of u. S. Diplomacy as President Trumps special envoy for hostage affairs. Ambassador obrien, thank you so much for joining us today. We are delighted to have you here. Let me start with a question. According to news reports, china has protested and alleged
This is counting the cost on aljazeera your look at the world of business and economics this week as Oil Prices Slump economies shrink and austerity kicks in is this the end of the middle east oil rush also this week south africas unemployment hit a record high before the pandemic whats gone wrong for an economy that emerged from the 2008 financial crisis in a strong position. When you try to reinvent the wheel but turns out you may simply be the Worlds Largest taxi firm is this the end of the gig economy into fights and labor laws and courts around the world. The world economies are moving away from fossil fuels right now being an Oil Producing nation is a tricky proposition burning through money set aside for a rainy day and borrowing money from International Investors to make sure you can pay your bills its also a time many Big Oil Companies are thinking about leaving more oil in the ground many countries have failed to wean themselves off Oil Struggling to diversify their economies
Claims rising back above 1 million. The fed voicing concern of its own about pace and state of the recovery josh, brown, the question today is how long, how long can stocks continue to outrun the economy well, i would argue that stocks have been out juning the economy since 2009 we clearly had an economic recovery that had been accelerated in recent years the longer it went on, but it hasnt come close to what the top 10 of american households by wealth have enjoyed by virtue of being in stocks and real estate as investment how long can that go on for . Its been going on for more than a decade if anything, you can make the argument that the pandemic has done nothing other than accelerate that trend. Its not a great thing to be hold the stocks that continue to work, anything tech, almost anything tech, anything work from home. Take a look at zoom. Were not even talking about it anymore. Its almost like its a given. Then you have this contingent of companies that have adapted themselves t
Is driving the market. The credit fundamentals are deteriorating. The central bank has effectively crowded in. You can get spreads. Jonathan always great to catch up with you. We have a ton of supply from the treasury. The 30year happened. What was your interpretation. There was supply fatigue. What was your take . In the end, supply does not drive markets. It can have shortterm impact as supply has to get digested by the marketplace. Over the long run, the fundamentals are what will drive evaluation. At the long end the long end of the curve was a little overbought. There had to be concession to be supply into the marketplace. Over time, it will be fundamentals and we will be in a low inflationary environment. The fed is on hold for years. As a result, there will be demand for long treasuries. Back in late 2017, when the administration cut taxes, the yield on a tenure was 250. On a 10 year was 250 what will matter for the long and is inflation dynamics. Inflation picked up in the last