Lets have a look at what has been really driving things here, haslinda. Haslinda the focus this week for markets will be that policy meeting in china. Fed chair Jerome Powell says a new rebound in u. S. Growth depends on the delivery of a vaccine, but he stressed that the economy will recover eventually. This economy will recover. It may take a while. It may take a period of time. It could stretch through the end of next year. We really do not know. Powells remarks follow a warning that and our chief asia correspondent, enda curran, joins us now. Away . S the key take powell saying he is not looking at negative rates. Enda not looking at negative rates, haslinda, but also saying they have some options on the table. The fed has done so much in terms of cutting Interest Rates. And all of the liquidity measures it has taken, they still have the option of doing what the bank of japan does. Yield curve controls. Some of the commentary now will be a around whether or not the fed starts tryin
Financial institution that is work in the interest of progressive investors. Hello, everybody, welcome to little city books, the best bookstore in the world as we measure it. Thank you all for coming tonight, we know its drizzly. This is a very important and interesting book. Mark was the he directed, i always get it wrong, Financial Institution industry for many years which basically what they did was funnel money to people who were marginalized, im sure he could tell you more about that if you want to ask him. And we also have here tonight adam moss who is a magazine guy, esquire, many other things, he and mark were roommates at college and have always known each other for a very long time, thank you for coming out here, adam. So im going let them go on from here, thanks for coming. [applause] hi, everybody, is this registering. Lift it up. All right. Is that better . Anyway, welcome, thank you for coming, its really great to be here with mark who i have known for 41 years, 3, 4, 44
Hes confident of a positive outcome in Coalition Talks he says hes prepared to enter into new government if the terms are right. I want to give a government to this country, but not at all costs. If another is formed, we must not approximate these issues. Germanys far right makes sweeping gains in two Regional Elections a blow to the countrys ruling grand coalition. Want to just bring you some eurozone final manufacturing pmis coming in at 47. 0 thats in line with the earlier estimate we had of 47 thats against the july final number of 46. 5 in terms of the output number, 47. 9, thats slightly higher than the preliminary estimate 47. 8 against the july number of 46. 9 dont forget, this is the seventh consecutive shrinkage in factory activity for the eurozone we have seen output continuing to fall not quite as drastically but jobs dont remember those cuts showing up for the fourth month running. Indeed, manufacturing still showing signs of weakness in europe as confirmed by the final pm
Intentional. Sending a message, xi jinping strengthens ties with north korea. Kathleen u. S. Stock market. Lets take a look exactly at what happened. Setting us up for the asian open. A rally. You can see the Dow Jones Industrial the s p 500, the nasdaq, across the board, up almost one full point. The s p did have a closing high. A record. Sincecond alltime record that last happened in april. That is all good. You can see the futures are pointing a bit lower. It is not a big decline, but after such a run, a small rally yesterday, after the Federal Reserve announced its policy decision not to change rates but to open the door to lower rates, the rally and this seems now it really like maybe people are just going to sit back and pods. Same thing in the bottom market and pause. Same thing in the on the market. It was bond market. It was dipping low. It is still very low. You can see that just a few days ago, we were up over 2. 04 . This has been a mighty rally. Central banks are getting r
Joining us for the hour to break down the market action, keith bliss. Good afternoon to you. Thank you very much, wilf really good to be with you snapshot of today, why are we selling off . Number one, you have low volumes coming into july you usually have the spike in june on the weekly volumes were seeing that today. Listen, you got to say the news is really washing over the markets as it relates to boeing. The downgrade we had at apple, people are getting nervous about what fed chairman powell may say and may not do at the end of the month. I think thats why youre seeing a little selloff in combination with that is we did get overbought in the dow a couple weeks ago are traders talking about the fed and whether they may not cut at the end of the month . Youre certainly seeing that in the discussions that you have with traders and investors alike. Youre not seeing it reflected in the fed funds futures yet still an overwhelming majority of people think were going to get a 25basis poin