I do want to highlight a 10 year yield in the u. S. , the yield is lower by about one basis point. 60 to 70 basis points, and how much can we tolerate on higher upside when it comes to yields . The Democrat National convention will be focusing on joe bidens vision of the party. Last night focused on trumps performance in office including his handling of covid19. To everyone who supported other candidates in the primary, and to those who may have voted for donald trump in the last election, the failed federal government that watched new york get ambushed by their negligence and then watched new york suffer but all through it learned absolutely nothing. Itay, six months after began, the nation is still unprepared. Magic if we had a national strategy. So everyone has access to a safe vaccine. More than 150,000 people have died and our economy is in shambles because of a virus that this president downplayed for too long. That even before trumps negligent response to this pandemic, too many
National security and tiktok says it is pure politics. And the official nomination of President Trump at the republican convention. He says his opponents want to steal the election. Haidi we have again u. S. ,arkets with fresh record highs a little relief given expectations of the fasttrack process when it comes to vaccines and therapeutics as well. The s p 500 notching another alltime high, there is optimism the virus will not hamper growth. We are seeing a muted session on it comes to the futures sessions, flat at the moment. Little negative when it comes to the start of trading in asia. The nikkei to do five trading in chicago seeing downside about 1 10 of 1 . Dollaryen holding. The biggest declines in the g10 space was the kiwi and looney. We are also watching the price of crude as we have twin storms approaching. 80 of refinery output in the gulf of mexico has been halted, potentially seeing some impact when it comes to crude prices, which did rise, gasoline hitting the five month
Rum be dispensed with. The presiding officer without objection. Mr. Schumer now, a short time ago, a ceremony honoring the life of the great representative john lewis was held in the capitol rotunda. The first time in our nations history that an African American lawmaker had laid in state. Last week i shared my reflections on the life and legacy of john lewis here on the floor. In the story of america, john was one of those special whos rose whose moral clarity shone out like a beacon for others to follow. Today, as we honor his extraordinary life here in the capitol, many of us his friends, his colleagues are filled with a deep sense of loss. But i want to share a short message of hope. It seems easy to forget that john was just a teenager when he started the work of redeeming it seems easy to forget that john lewis was just a teenager when he started the work of redeeming the soul of america, as he put it. He was 18 years old when he first met dr. King. 21 when he was aarrested as a
It was the big gainer. It closed at an alltime high. Tech has been leading the way. Sales force, facebook, taketwo and qualcomm at record highs you have to watch one stock in particular apple. After more than 10 gain on friday and thursday night, it closed up 2. 5 to an alltime high percentages away from hitting the 2 trillion market cap that 4 to 1 stock split is hit that price has to sit 477 not far off. Weve been talking about the pressure that has been put on yields in the treasury market. Right now, the 10year note at 0. 45 . Scott . Becky, im listening to you talk about tech and these companies. We have to get ready to talk nasdaq 11,000. As crazy as that would sound, we are on the doorstep. In spitting distance, basically. Unbelievable. Largy carri largely carried by these big five apple, amazon, facebook and alpha bes alphabet and microsoft looking back in march, would you have thought we would be talking nasdaq 11,000 by summer . No way. There is reason for it if you look at s
Fed president Robert Kaplan this hour. President trump orders chinese to shutdeo app tiktok down in the u. S. Next month unless there is a deal with microsoft or another leading american company. Breaking news out of south korea. The cpi numbers for the month of july year on year, a growth of 0. 3 . This is of course after inflation remains flat for the previous month year on year. We have seen somewhat muted demand. Perhaps weighing on the month on month numbers. We are seeing inflation at zero growth. This really missing expectations that prices would rise 0. 1 if also inflation is decelerating from the previous month of june. Core cpi take out oil prices, and you get a rise of 0. 7 , in line with estimates, and slight acceleration from the previous month. We have seen brent crude prices recover somewhat from aprils slump but still down 38 year on year also. The are also expecting tokyo Inflation Numbers within the hour so take a look at what japanese futures are doing at the moment.