The dollar gaining some ground after paring losses after that meeting. Fx sellinging asia off, especially the renminbi after reaching may 2019 highs. There are signs perhaps the currency is being overbought. Expecting boj, boe, and Bank Indonesia today. Those currencies and focus. Watching the bond market as well put it did not get adjustments on qe from the fed. We saw the 10 and 30 yield spike coming off a little now but that did lead to earlier the yield curve steepening and coming off a little. We are watching brent crude as well as wti. Also saw off some of the highs we saw overnight. There is optimism for demand but that is also losing some of those gains right now. Tom lets get you up to speed with some of the first word News Headlines and other stories. President trump says a Coronavirus Vaccine could be just tribute it widely as early as october, contradicting statements by some of his top health officials. The head of the centers for Disease Control and prevention told a Sena
David she started as an investment banker at Morgan Stanley, rose to be the cfo, and was recruited away to be the cfo of google and now the cfo of alphabet. In that role, she has enormous influence at that company and has done a terrific job of making certain their Balance Sheet works well and that they are much better organized in the financial sense. I have no doubt she will be a power at alphabet for some time unless the next president of the United States says i would really like her to be secretary of treasury. She would be a terrific candidate for the position. David so during this period of time, google has done quite well and alphabet has done well. Your stock is a more than 20 this year and i should say, from the time you became cfo, the stock is up over 200 and market cap is up over 200 . They have done quite well under your leadership. But i am curious, are more people looking at doing searches now during this covid19 period of time more than ever before or are people not sp
[indistinct chatter] thank you, everybody. Thank you. As we begin Labor Day Weekend americas unprecedented economic recovery continues. You see what is going on. It is pretty amazing. The United States economy as of this morning, 1. 4 million jobs les last month bringing the total to over 10 million jobs which is a record. In august, we added 240,000 retail jobs, 174,000 leisure and hospitality jobs, and 29,000 new manufacturing jobs. The Unemployment Rate plummeted to 8. 4 , the second largest month job ever recorded. It is surpassed only by our decline in june. Last month we saw declines in the Unemployment Rate for africanamericans, and hispanic americans, and asian americans. We are witnessing the fastest labor Market Recovery from an economic crisis in history by far. By contrast the last demonstration had the slowest, weakest, and worst recovery in american history. That was well documented as you know. This year the United States has seen the smallest Economic Contraction of any
You are seeing some signs that suggest broadens breadth you had this move in hold builders and transports. Its not a reason to discount that action. Forget about all of that those things are not the tech trade. Its not its clearly happening. Stephanie and pete have been right all along throughout the course of the summer they have said things are Getting Better things are broadening out. I have been a nay sayer but Market Action is telling me they have been correct and i have been incorrect for as long as thats going on, i think theres a reason to be encouraged that we could see continued new highs. As you know, the viewers know. One of the things i want to talk about is the three leading sectors today are low rates plays. Utilities are ripping. Reits look incredible. I added Simon Properties group which we talked about spg. That thing looks like it wants to break out right now of course, youve got communication stocks being the best performers. Im in verizon and that group. Nike hitti
Women in the Business World is ruth porat. She started as an investment banker at Morgan Stanley, rose to be the cfo, and was recruited away to be the cfo of google and now the cfo of alphabet. In that role, she has enormous influence at that company and has done a terrific job of making certain their Balance Sheet works well and that they are much better organized in the financial sense. I have no doubt she will be a power at alphabet for some time unless the next president of the United States says i would , really like her to be secretary of treasury. She would be a terrific candidate for the position. So during this period of time, google has done quite well and alphabet has done well. Your stock is up more than 20 this year and i should say, from the time you became cfo, the stock is up over 200 and market cap is up over 200 . They have done quite well under your leadership. But i am curious, are more people looking at doing searches now during this covid19 period of time more tha