Probably not today ahead of another call between Commission President ursula and british Prime Minister Boris Johnson. U. K. Banks and Home Builders suffered the brunt of the selling as the ftse 100 outperforms the spot 600 and the pound stays under pressure well, a very good morning and welcome to street signs, everybody. Our top story of the day, no surprise, brexit as talks enter the 11th hour. And we have plenty of coverage this morning were going to get into all the detail, all the latest in just a moment but i want to kickoff by showing you the Market Reaction because its been pretty interesting the moves weve seen so far. Starting with sterling, which is trading up 1. 5 versus the dollar, so currently around the 1. 3240 level this as volatility in sterling has reached an eightmonth high. So a substantial sell off in the currency this morning on the back of this weekends developments as we head into the final talks. The ftse, meanwhile, the main benchmark in the equity market for
How retailers are shifting Sales Strategies online this Holiday Season then, questions over astrazenecas vaccine trial, what the ceo is saying this morning. And finally what a salesforce acquisition of slack means at this hour. Right back at you in terms of this market action, we have seen it a lot, mike in terms of the dows performance this month there has been some rotation lets start there. Somebody this morning saying aerospace is up 40 . Which frankly i did not necessarily know it has been that strong in that short amount of time does it continue in this rotation or do we have to watch this in last day, day and a half of trading there has been a stutter step in that rotation. We had a couple of these since march. One of them peaked in june now it has been very, very aggressive aerospace is part of the industrials group. Industrials fully kind of got back to precovid levels and the valuations of industrial stocks are well above where they were based on expected earnings eight month
Of the year and it appears to be playing out minute by minute microsoft confirmed monday that it is in talks to buy tick tock from Chinese Parent Company bite day its now this of course after u. S. President donald trump announced a plan to ban the app in the United States President Trump spoke about the controversial situation monday afternoon. And. He cant be controlled for security reasons but in china too big too. Invasive and it can be and heres the deal i dont mind if theres microsoft or somebody else a big company the Security Company very very American Company by i set a date of around september 15th at which point its going to be out of business in the United States but of somebody whether its microsoft or somebody else is it going to be interesting i did say that if you buy it. Whatever the price is that goes to whoever owns it because i guess its china essentially but more than anything else i said a very substantial portion of the price is going to have to come into the tre
Number for the company. Quarterly sales were down 43 year on year. The stock is pretty much flat, though. The bad news now, just how bad would let actually be . Sales roseommerce about 74 . They still need people to come into the store to really make a lot of money. Their comp sales were up by over 10 , if you backout fuel. Clearly a lot of stocking up. Clearly good for walmart. Kohls suspended its Share Buyback program. That stock now off by about 1 in the premarket. Overall, no doubt we are obviously going to take a bit of a pause as we digest earnings and that monster rally. The question is whether the new was that or a bear market rally. Is that really being reflected in equities . We need the Economic Data to really match. Lets get to the news from overseas, as well as here in the u. S. We want to start with the walmart numbers and look ahead to fit your jay powell. Michael mckee has more. Just in case we werent sure that people were hoarding toilet paper, we get walmart. Michael
Their lives and seek refuge across the u. S. Border. Although mused. Heard immigration. And this story really opened my heart and changed the way i will see migrants. Oprah loves the book it has earned a coveted spot in the Oprah Winfrey book club and donna praised by the authors john grisham and stephen king as well as Mexican American authors Sandra Cisneros and Erika Sanchez the novel which is it was written by an author who is neither mexican nor migrant is now the center of a debate over who gets to tell stories of historically marginalized people critics online say the book is rife with stereotypes and cultural misrepresentations the controversy also highlights the issues that result from a lack of diversity in a white dominated u. S. Publishing industry joining us to talk about this in Long Beach California William Gerber she is a writer. Artists whose wife he shared book review of america and helped spark a more critical look at the novel isnt Louis Missouri Sanchez Prado he is