Laura. Jim, one of those every now and then we get a day that is truly consequential and that certainly fits at least the expectations for powells speech. I wish that we hadnt come in so hot when you have a company that gains 50 billion in one day, salesforce, when you have a tremendous number of nasdaq stocks that have just kind of out of control to the upside you dont want to have anything that could disrupt that i think its heightened, im glad were covering every minute of t david, you know that this is a day that we would normally be talking about abbott labs and talking about the mysterious tiktok mayor issue which are both huge stories but we have to defer to jay powell. We do we have to defer to powell we have to continue to understand what the fed Balance Sheet will look like with that 3 trillion thats been added to it which is a staggering sum, guys jim, your point is well taken. Yesterday salesforce i have rarely seen anything like that move, yes, they were extraordinarily st
States the person behind that report will be here and later, carson clock. Right now carson will join us to fight back you dont want to miss it. Power lunch starts right now lets get straight down to more on what we know about the phase one deal and what we are still trying to figure out what we know is its an 86 page deal in a leather bound book outlining principals on intellectual property and currency by which both countries will abide china will be purchasing 200 billion in u. S. Goods includin up to 50 billion in agriculture goods. It will be no new tariffs so long as the two sides are abidesing by the agreement and continuing negotiations. No additional tariff roll backs are scheduled beyond the september 2019 round that President Trump announced by tweet today. Ambassador Bob Lighthizer told reporters he expects some ministe ministers, not the leaders, to sign the deal in january in washington the deal will take effect 30 days after that. I asked what happened over the last two
We will look at the performance of asian makers and hear from General Motors. Lets see how things are shaping up for asian rackets. Markets. Roilings tweets are markets and the stocks look to be opening at a low. Taking a look at nikki futures, down a little more than 1 . This brings on the prospect of more retaliation. That will be way down on the. Hares of these Asian Companies especially when japan opens, we will be seeing whats going to happen between japan and south korea. We are expecting the Prime Minister to have an announcement about how they treat those south korean companies. Looking closely ahead to that as well as checking on the commodities later. Sophie thanks so much. Checking in on the terminal. Oc been numbers coming up, rounding out the three big lenders. Net income at 1. 22 billion compared to the estimate of 1. 9 billion. Allowances for loans and other assets came out at 111 million. Secondquarter growth was likely driven by expansion in interbank rates. Income was
Chairman of the fed was asked does the fed need to cut rates with the economy as it is and he set you do not need to wait until things get so bad to have a dramatic series of rate cuts. Markets took that as a pledge they would do more, maybe shock and all. The new york fed had to walk it back and say we are not talking about the end of july yet. David please stay with us and we can talk about whether we need the rate cuts. In the meantime lets go to anna in wanting to in washington. We have a deal yet on the debt ceiling . Anna we are getting close but we are not there yet. There is a Firm Deadline of when the house is expected to begin its august recess. Mnuchinlosi and steve are trying to talk about not really the debt limit part, but everyone agrees they need to raise the debt limit. Leaders also want to attach an agreement on budget caps. They need to lift the budget caps that would impose these dramatic cuts and those are the details theyre trying to work out. Last night we got an
Just to complete the question is, what does it mean to be human . What are the things always to be proud to offer shows because its that i find this moment extremely profound because it gets really forced us to think to exactly what pushes. This is what makes humans human scale to see if theres a whole lot at stake here. Careers unbelievable amounts of money and who gets to shape the future calls the and its already become a global race for supremacy in the age of Artificial Intelligence. China, the United States and the European Union of buying for economic growth, political influence and power. So other be Tech Companies and style shops, a horse on the hills, for those who lose go be no 2nd chances. Jonas andrew was founded one of the most influential European Companies with his health, the European Union, could catch up with the worlds i. Lead is become independent from the us and china, secure press, press future, reduce it. Sorry. This is a watershed moment. Are you are allied for