The survey number was 95. Present situation, 94. 2. That is better than last time. In terms of expectations, though, 91. 5. The Manufacturing Index has come through better than the survey. Last time, it was flat with expectations at five. We came through at 10. The consumer is getting jittery. Alix especially as the sunbelt is hit. We had an announcement from the fed earlier. Michael mckee is with us. Walk us through the numbers and to talk about the fed meeting tomorrow. Mike the numbers are connected to the meeting, with Consumer Confidence following and the outlook for the next six months dropping dramatically as it did, the economy is looking like it will go back into some sort of contraction, based on the new covid19 cases we are seeing. The fed sees as something they do not like, because moments ago they announced they are extending seven of the nine lending programs they put into place in march, through the end of the year. They were going to expire on september 30. The only one
It sums up everything that you need to know in the markets. Equities are down, which means you are getting a flock into full faith and credit. You are getting massive dollar weakness for three straight days. The weakest we have seen on the dollar since 2018. The story of the week, all about gold. Investors watching back in as a hedge against low rates. Big concern about the trajectory of this economy. As i mentioned, some of that trajectory is coming from the fed. They are extending most of their emergency Lending Program until the end of the year in an effort to support the economy amid the pandemic. The fomc kicks off their twoday meeting in washington with a Rate Decision due tomorrow. We are joined by Kevin Nicholson riverfront investment group, Global Fixed Income ceo. I love days like this where i can get a fixed income guy talk about equities. You are talking about the tactical favoring of equities. How much is relative value, where a dividend yield is worth it to basis points o
Lamb weston, that was one of our stocks of the hour. Down 11 . I dont know what is going on over there in the 209. Taylor i am never going to live that down. That is good to know. On a more serious note, some of the industrial companies, 5757. R at a spot intraday basis down to about 31 basis points or so. Keyink 54 will be the next resistance level. The flight to quality we have seen, given the fed and some of the weakness we have seen in earnings. Shawne still with us, matthews. It is earnings season and we are getting into it with some of those large mega cap Tech Companies. There is high expectation but also a general sense that given their size, given their market dominance, they really cannot lose. They will have the Revenue Growth and have Margin Expansion there is really not a reason to be afraid of what they will say or report. Do you buy into the i guess teflon nature of some of these names . I think it can last for a while. If you look to the nifty 50, that lasted for quite
Legal status under the rules of congress set in the census act of 1790. The president s decision to release this illegal memo now appears designed to inflict maximum damage to the accuracy of the ongoing 2020 census. In just two weeks, the Census Bureau will start visiting the homes of millions of people who have not yet responded to the census. The president s latest attack on immigrants could sew fear and confusion in communities across the country, and could lead many people to decide not to participate. This will hurt communities that are already undercounted, underrepresented, and underfunded. Addressing the chaos caused by the president s memo will drain valuable resources from the Census Bureau, which is already struggling to administer the 2020 census in the middle of an unprecedented pandemic. And it will further divide our country at a time when we need unity. Of course, this is not the first time that President Trump has attempted to politicize the census. For more than two
Patriotic. Vaccine is on to find a amid warnings of a greater resurgence to come. Haidi pretty mixed midweek outlook when it comes to trading here in asia and for the first time in a while, we have seen equity markets kind of take a step back in terms of not headlines. A great deal of activities and commodities. Lets take a check of futures. Contracts trading higher after we saw a lack of conviction in u. S. Markets as we get concerns that perhaps this fourth round of fiscal stimulus will not be forthcoming. We are hearing the republicans are in the midst of crafting their own proposal to take to the democrats and we also heard from President Trump as he resumed his virus presser, encouraging americans to wear patrioticart of a duty. Over in japan, we are seeing outside of point 3 when it comes to trading for nikkei futures in chicago. More earnings on tap along with japanese pmi readings as well. Take a look at gold and soldiers. Pretty much flat at the moment, jumping close to a nine