A half percent. Another thing i am watching as the rnc tax policy. Toer this hour, we are going look at taxes and how they play into wealth inequality. We are going to do that with Dorothy Brown november university. First, economic data. Confidence, 84. 8, the market was looking for 93. Ist is a week number that a weak number. This tell us something about the stimulus debate, the employment market in terms of the present situation. That has weakened significantly from the 94. 2. The expectation number has weakened as well from 91. 5. We have an 85. 2 this time around. Newhome sales continuing to drive onward. The Housing Market showing no respite. Look at the lumber prices. Sales, 901,000. That is a 13. 9 permit very strong number. Consumer may be starting to show signs of weakness and concern. Lets talk about the market today. We have already indicated what we are seeing is stocks, global stocks continuing to push on very strongly. What is the excuse . U. S. Chinese officials holding
Fall on year and below analyst expectations. They confirmed plans to exit thermal. U. S. China relations sour even further. Jing says the tax lets take a look at how we are shaping up for this asian trading day. U. S. Futures within shouting distance when it comes to the regular session of that february record but then retreating by the close. We are seeing not much happening when it comes to active futures contracts. The nikkei 225 looking weaker going into the open. Chicago futures trading there. The topix in the meantime remains the bestperforming market in august. We will see if it continues those gains today. Ftse futures looking like we will open up higher by. 4 . The data calendar for the day, we get the rba august meeting minutes, looking into the details of their bond buying as well as the renewed assessment of how that new victorian lockdown will barter economy in those Monetary Policy settings. Also watching crude, we are seeing weakness, just holding over 42 a barrel althou
Edition of this weeks talkers. First off are you okay, tell us what happened to you. I was not afraid of being sent to china because when the police came to my house, almost 20 of them inside, i dont know how many outside, none of them, hong kong police. Maria your reaction to the economy today. During a rebound in Economic Activity from retail sales to him Industrial Production to housing, you have three main voices boosting the economy, the mass of domestic and global stimulus. Maria what do you think, what your reaction too, by harris . I spent most of the night going to the record as a prosecutor, that is my greatest love and probably the thing i know the best of, she is one of the worst prosecutors ive ever seen. Maria you believe the case against flynn was made up anyw anyway. Why has joe sullivan decided to put himself in the middle of the situation and continue to drag this out. Maria i have a document from the Senate Intel Committee showing Andrew Mccabe speaking to the Senate
7. 44 . As you noted before the yield curve. Steepening and a rally in the financials you mentioned that june 10 was the high that was the day where the markets had their maximum enthusiasm about the strength of the recovery and how fast it would be that was the peak where the come back of value and cyclical sectors. That seems to be the dynamic and the push for which stocks were preferred and the market seven days in a row of records is not to be dismissed guys the intraday record high in this session and well have to see if this continues . Yesterdays high is around 3,500. Coming up, well talk about the abrupt halt to the sports world. We ha we have fed president s and the interim ceo of tiktok. What a story it has been and a soap opera all week long we are learning more in the details in the sale of tiktok after walmart confirmed it has teamed up with microsoft sources tell us that walmart ineshlly wanted to be the lead buyer together with what was alphabet and soft bank coo and ran
The nasdaq on track for a 5th week worth of gains here and the dow is erasing its losses for all the year at its highest level since late february, its also having its bests august since 1984. We turn to the Investment Committee for this we have just been seeing green, green, green for it seems like weeks, if not nonts months at this point it is surprising the markets have marched higher the way they have over the last several months since the pandemic lows its not all surprising all the factors were looking at from the fiscal side, the monetary side and the virus side are lining up in support of equity just think about what happened with chair powell yesterday and the historic announcement he made about departure from the prior inflation targeting regimes to this averaging inflation concept. What does that mean . That means rate will be low, low, low for the foreseeable future we think thats two years from now. That is very support ifr five f valuations then you have this fiscal stimu