Economic outlook has deteriorated and some Monetary Policy easing will likely be required over the summer. Reporter now he seemed to imply that was more likely in the august meeting than the july meeting but well have to wait and see when that action comes. The fall in the pound has allowed some of the exporting names in the ftse 100 closed higher today. Some sectors still under performing. Heres what the governor of the bank of england had to say. With the Capital Requirements of our largest banks ten times higher than before the crisis. Moreover the bank has tested against scenarios far more severe than the country currently faces. Reporter the governor of the bank of england. The other big story of the day is on the political front. We know all five contenders to be the next prime minister, the main headline is that Boris Johnson is not one of them. Guys. All right. Thank you so much. Im joined now by joe and josh and rick. Guys, lets kick it off with the news here. It seems like th
Of japan was fully consulted on this and as a result check out currencies. The yen jumping to a threeweek high on that news. Lets take a look at europe. This point the european markets are in the red. Germany down. The cac in france is down 1. 25 . The ftse in london off by half a percent. Take a look at crude oil this morning. This was a huge story yesterday. Wti dipped below 40 a barrel. Ended up closing at 40. 06. This morning up about 26 cents to 41. 31. This is a key number here. This has been the point where the s p has kind of linked back up with crude oil as crude oil comes down so have stocks at least at these levels. Well continue to keep a close eye on this today. All right. Now to the day ahead on the street. Sit another busy one. You will see the june personal income and spending numbers. Both are expected to rise. Roughly in line with mays number. Also out today julys auto sales. Dallas fed president rob kaplan speaking at a conference in beijing china in the next hour. I
Google get this, dedicating its doodle all day to honoring a woman who once said she admirers usama bin laden and other terrorists. The details on this breaking story and a lot more this hour. Melissa back to the market. Sinking stocks, majority of the dow ending in the red. Phil flynn of Price Futures Group is a fox news contributor. He is watching action from gold and oil at the cme. Lori rothman on the floor of the new york stock exchange. Lori, first to you, the dow ending well off its lows today. That is important point, melissa. The first thing i heard on the floor there was conviction selling and any drift back was just shortcovering. That hes where we are bearish conviction on wall street and investors on main street as well. Lets break it down. Retail was the outstanding story. Walmart earnings, cisco, nike shares helped dow from falling deeper into negative territory today. On nasdaq down half a percent. Costco however was up 3 1 2 . That is one bright light on the nasdaq com
More evidence the fed will continue its decision on Interest Rates. Sally Fisher Stanley fischer stuck with tom keene on bloomberg surveillance. Hey talked about potential changes and whether there is policy unity within the fed. We are growing at around 2 and the problem we face is that of productivity. I do not think the dollar is fundamentally the most important factor affecting the rate of growth in productivity. Obviously, a stronger dollar has an impact on the profitability of American Companies and on how much we want to import. But the bottom line on this is we have seen an appreciation of the dollar and the American Economy continues at full employment. Or moveowards towards full employment. In a fundamental sense, we have withstood much of the challenge. It has an impact on inflation, reducing inflation, but we have to deal with the world as it is. Tom cole in a final thought. Final thought. Professor at princeton was quite adamant about a greater fiscal thrust. We are exhaus
Ramy inocencio has the latest. Actually, the housing data is tomorrow. Ramy we will have that tomorrow when it comes out. Lets get to the markets. U. S. Markets, as you can see across the board, are up by. 6 for all the markets. Turning around from fridays route. Twoday drop in the s p in a few months. That may show you what is happening in the s p today. No sectors are doing that at all right now. Telecommunications is the biggest sector up. 8 , financials, industrials also up about the same order. Lets also go to oil. Nymex crude is seeing a turnaround, its fourth day of losses in a row. Handle, down4 1. 6 . This is on the news that we expect the look to continue in 2016. As for brent, and the Global Benchmark, that is falling to an 11year low. Crude right now down at the 36 handle. A lot of the commodities have come down but there is one energyrelated commodity that is actually up. Ramy natural gas. Over the past several days, month, we have seen a drop in net. Rising today, for the