We see the dow below the 50 day for the first time in awhile nasdaq hit that last week were off of the lows, 32. 29 maybe just ten tonights off of that the problem is not so much technology, but the reopening sectors. They are weighing on the s p if you just take a look energy, industrials, and materials. They have separate issues with suspicious trading activity. Not as they are notably week taed and this is another sign that the reopening story is not going as well as people anticipated. Remember the bucket thats we watched the market with. It is true there have been advancements with treatment and vaccine. The delays in the stimulus program, europe locked down is a worry. Concerns about the potential for the european lock down is there. As far as the stock market goes, we have been looking at valuations for a long time many people feeling the market is over valued but earnings overall have been improving. There is a lot of balance and debate going on. That happened on friday, nasdaq
Speaking of engagement, i hope you will take the opportunity during our interview to doing todays discussion by submitting questions as we go along. You can do that by clicking the q a button at the bottom of your screen. Today, as vicente mentioned, we are joined by my friend robert zoellick, he has served america and served her well across multiple administrations and in a range of key roles in the late 80s he served as counselor to the secretary of the treasury under secretary of state as well as White House Deputy chief of staff. In the george w. Bush years he served as ab and later president of the world bank. Hes received numerous honors the state departments highest award, the treasury departments Alexander Hamilton award, and dod medal for distinguished public service. The American Government werent the only ones, the German Government awarded him the night commanders cross, the Mexican Government awarded him their aztec eagle and chili gave chile abof course the author of a re
Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
Atlantic to germanys box on the other it seems to have complied with rules to report suspicious transactions but took few steps to rein them in our topic Money Laundering all of terrorists how corrupt are the banks. On. The money. Welcome to to the point its a pleasure to introduce our guests Daniel Drucker is editor in chief of buzz feed news germany and he says the suspicious activity records give banks a free pass to keep moving dirty money on collect the fees. And its a pleasure to welcome Matthew Carney chick to the program hes chief europe correspondent for politico and he believes this councils are just the latest antics. Nation that germanys Banking Sector is neither financially nor culturally sound. And great to have with us as well then to lead a fun period oh she works for the british economist and she thinks just as do it was finally starting to recover the revelations related to its involvement in Money Laundering in the finance and files are a huge setback. So let me begi
The single currency crosses the key level for the first time in two years. Philip lane says it matters for monetary policy. Andy Swift Financial regulators and the swiss financial of creditart suisse over spying on former employees. Let us get some breaking news for you. Front, u. K. Housing august house prices rising by 3. 7 year on year. This is according to nationwide. 2 on the increase of month. The month on month figure is 2 . The year on year figure is 3. 7 . Very strong numbers follow other measures of stress. We have a right move for july. Know the reason behind all of this. There was pentup demand because of a lockdown. There was a tax incentive put in place. And perhaps a little bit of incentive to move to quiet, rural locations. All of that lifting housing demand. Solid numbers nationwide this morning. Lets get to the broader picture around markets, have a look at futures. For European Equity markets, fairly flat. If you excuse exclude the ftse. The futures picture giving us