Claims rising back above 1 million. The fed voicing concern of its own about pace and state of the recovery josh, brown, the question today is how long, how long can stocks continue to outrun the economy well, i would argue that stocks have been out juning the economy since 2009 we clearly had an economic recovery that had been accelerated in recent years the longer it went on, but it hasnt come close to what the top 10 of american households by wealth have enjoyed by virtue of being in stocks and real estate as investment how long can that go on for . Its been going on for more than a decade if anything, you can make the argument that the pandemic has done nothing other than accelerate that trend. Its not a great thing to be hold the stocks that continue to work, anything tech, almost anything tech, anything work from home. Take a look at zoom. Were not even talking about it anymore. Its almost like its a given. Then you have this contingent of companies that have adapted themselves t
Into our freedom the Chinese Party getting into strength and Services Also pushes the french print past expectations retail rebound uk sales urge past expectations in june as the lockdown lifts while the uk starts to enforce new rules on face coverings. European stocks struggle after chip maker issue earnings dpi guidance and delay the launch of a key next generation product a very warm welcome to street signs. A big day in terms of data we have the flash pmi coming through. Weve heard from germany and france better than expected now we have the eurozones overall for the region the flash composite up from 54. 8 we cross into growth territory we look at the breakdown and the flash manufacturing pmi that has come in at 51. 1 versus 47 in june on the services side, the pmi has surged to 55. 1 up from 48. 3 in june. So a big, big step higher in terms of the overall numbers for the eurozone that is reflecting strength in germany and france lets get out to williamson. The organization that p
Be risk on. The cash trade, less than an hour away. Here are your headlines. Big attack its even bigger. Alphabetacebook, and tune to techsumers to solve the problems of a global lockdown. The French Economy shrinks 13. 8 or after an increase in jobless claims shows the recovery is in shaky ground. Ibar, bnp arab are par beats all but one of the big wall street banks. Just an hour from cash trading. Lets look at futures. Futures futures, u. K. Are down but only slight moves. Nothing material. Nothing to show us what kind of direction we can expect. Futures right ww, if you take a look at the eif screen, also slightly mixed this morning. Of working slew earnings news. I will kick it off right now with natwest. Impairment charge of 3. 54. 5 billion pounds. Expecting less than one billion. In the Second Quarter, more than doubled the impairment charge for the full year. The company expecting at least possibly up to 4. 5 billion. The operating lost was 770 million pounds. Have iag asyou we
Report 1. 5 million euro loss leading to job cuts. Industrial profit forecasts beat sending shares higher the ceo says hes cautiously optimistic we have the prices under control as much as we can control it going forward, there is some volatility that we will see a second wave. Mining giant glen core ditches its dividend following a massive impairment charge following the bottom of the stoxx 600. A warm welcome to street signs. It is a big day before the bank of england keeping rates steady and left the size of the Asset Program unchanged. Bankers are painting a more pessimistic recovery warning that they wont return to precrisis levels before the end of the year. They expect the rate to double by the end of 2020 looking at the action surrounding the bank of england news starting with guilt we have the move lower out 2. 5 . Third year trading 64 points or so sterling has hit a fresh fivemonthify versus the dollar. Currency investors like what they see to get into more detail from the b
S p 500 few you ares up 15 the nasdaq with a gain of about 1. 7 all because of what is happening with four big horseman check out shares of apple, facebook, alphabet and amazon. They went before congress two days ago and came out with earnings that knocked it out of the park on every one of those counts three of the four are trading sharply higher apple up 6. 1 , facebook up 5. 8 , amazon up 5. 4 alphabet did beat earnings estimate did post the first revenue decline and is down 0. 67 . More on those in a second. Lets kick it over to wi will everyone wilford. Good to be back extraordinary numbers, as you said well discuss those in a moment. First check out this mornings agenda as we are closing out the week well bring you results from cat, chevron, exxon and merck. Kol gate, underarmor and others. The late day of july lets check out the market score card owl three major indices on track for the fourth straight gains. Nasdaq the big oner up 18 month to date up 5. 2 . This past week, back