Forth with portnoy on what you say are amazing insane moves that can continue. Yeah, i mean, understand there is florida has been so much comparison in 1999, 1999 was never like this. You had a lot of crumby companies that would go up a lot but nothing like this. I mean, we have major trillion Dollar Companies that are going up at a pace that weve obviously never seen because we didnt have trillion Dollar Companies before but i do think that my friend David Portnoy hes got a big cohort saying that stocks only go up and im just giving this is frightening im giving a little bit of homage here because, yes, if you got in when davie trade got in, i mean, all youve seen is up. So its not wrong for him to look at that i mean, the guy got in i think march 23rd when he decided to take the suits on directly i got up this morning, i said, geez, maybe i should wear jeans. I dont want to be like wrong. I want to be i dont want to be on the other side of the trade of this guy. His timing is excepti
Indices were down 2 . Right now the dow is down. 9 . Before some tech earnings, the nasdaq up a quarter percent. A lot of movement in oil. We will be speaking to paul sankey about that. The 10year yield down to 55 basis points. Just to show you that it is Consumer Companies like procter and gamble that are helping the market recover a little bit today, that index up 1. 9 . People cannot do without their necessities, as long as they have the money to buy them. U. S. Economic data showing gdp shrinking at a record pace. 17plus million americans applying for ongoing benefits, which necessitates the need for more to be done. Lets bring in narayana kocherlakota, former president of the minneapolis fed. He joins us from rochester, new york. Talk about the dire Economic Data this morning and what it tells you about whether even the minimal reopening that we are doing is helping the markets more broadly. Narayana thank you for having me on. The numbers were certainly eyeopening. 10 fall transl
That is coming up next. I mentioned if the goldman shares soaring after reporting 93 revenue trading in the second quarter. The analyst call is underway. What are some of the highlights you can tell us . There is or uncertainty. David solomon did say violet has been very uncertain as far as outlook for reopening, he gave us expectations on what to expect. The expectations for the u. S. Have gotten better. For the globe, worse. This number is equates to a and more than 6 globally next year. If you think banks are undervalued now and you are seeing this type of expansion next year, you are in better shape. That uncertainty still exists. Goldman also gets credit for being able to improve their capital ratios closer to where the fed wants them to be. By selling off assets here and there, we saw a big insurance sale last week to kkr, and being able to offload assets such as leverage loans of the sword. Of the sort. Carol guy talk about the ratio, they have come up 13. 6. Does that mean inve
Quickly. And staying strong. The worlds top iron ore prices are among the highest out of china. Shery lets get you started with another check of how markets are trading at the moment. Futures underu. S. Pressure as stocks fell to the lowest level in two weeks. We are seeing it down 0. 7 . Than 2 ,00 lost more same for the dow and the nasdaq. The dow losing more than 700 points. We had the sharp increase in virus cases, adding to economic anxiety. So risk off positioning was very strong last week. We did get positive data over the weekend, signs that the chinese economy is continuing to recover and profits rebounding in may for the First Time Since november. Take a look at what oil is doing because it continues to fall. Actually, we saw a second week of declines, the second weekly decline since april. We continue to have these lower prices after a cautious rebound, now headed towards 37 a barrel for wti. We also had chesapeake filing for bankruptcy in the u. S. , one of the biggest vict
What else is going on here . We also have lines coming through from carrie lam saying they will not be appointing judges to individual cases with regard to the National Security legislation. She had said earlier it would not be retrospective. Elsewhere, lets have a look at some of the other markets. The shanghai comp, for 10th of 1 . 4 10 of 1 . The kospi, much higher. We were up about 1. 67 before the headlines. The aussie market, erasing all of the gains and the red before came back. The singapore market does language seven tents below the gain line. A quick look at currencies. The dollar index was actually moving to the downside. The first time in six days. That has turned around now. The dollar index itself is marginally high. This is giving up some of its gains. Yen just below 107. Terling up approaching the 1. 25 level. The aussie has been appreciating. It is on the verge of testing the 70 u. S. Sent level. Confidence in the euro area improving marginally. Still down 14. 7. Bette