Eastern, we get existing home sales data. At 1 00 the u. S. Treasury is auctioning 35 million in fiveyear notes. Now the turn to our first take away, these are big stories. That great treasury sale continues with twoyear yields in the option yesterday the highest in 10 years. Continues toconomy struggle to get wage increases to keep up with inflation. Glencore reports earnings with catholics flow and earnings the turnaround in that company is so dramatic. It was on deaths door just a couple of years ago. Come inside the bloomberg. We had all those auctions yesterday, and this is what we saw. Yields rising to the highest level in 2008 print much across the board. Ira, what did we learned yesterday . We learned demand was maybe a little higher than perhaps people feared. I cant say there werent a little hiccups here and there. The threemonth bill demand maybe wasnt quite up to standard. But otherwise when you look at the 2year note and six months bill auction, they went ok. I think today
Morning. It is so vast that the Vice President of the united dates jumping into help here we will hear that plan coming up. Stephanie until then, ill give you the top news stories for the morning. I mentioned it earlier. Stocks in china earlier today. The benchmark shanghai composite index, 8. 5 , the most since 2007. Investors are growing concerns the Chinese Government may end those unprecedented steps it took to prop up share prices. Earlier this year on bloomberg television, the head of the council on Foreign Relations call that a nightmare scenario for chinese leadership. Where does the government and this party get its legitimacy . The answer is that they cannot quite figure it out. They have got a real problem on their hands and they do not quite know what to do it that is why you see massive intervention. This is a serious political problem. Stephanie let me break it down. From july 8 through this past friday, the shanghai rebounded 15 , more than 1400 stocks, were allowed to s
By the close, it rose to 17630. And the s p 500 gained 25. Exxon mobile and chevron were big gainers today because of the rise in the price of oil today. And two earnings came from pfizer and merk. They were held for the pneumonia vaccine and the Breast Cancer drug. Merck also raised their profit gains. Ford reported a blowout quarter. Posted their best earnings in 15 years. North america is strong but there is a growing concern about the Worlds Largest auto market china. It may sound cliche but it is Good Business is booming for ford in north america where they just had their most profitable quarter ever. In part because of Strong Demand for trucks and suvs. Take the new f 150. Customers are paying almost 3800 more for the new truck in that model. That is something that we dont see very often in the auto try. With auto sales nearing a record high many are worried that the industry has peaked. But fords ceo is not worried about americans hitting the brakes. There is a lot of discussion
By the close, it rose to 17630. And the s p 500 gained 25. Exxon mobile and chevron were big gainers today because of the rise in the price of oil today. And two earnings came from pfizer and merk. They were held for the pneumonia vaccine and the Breast Cancer drug. Merck also raised their profit gains. Ford reported a blowout quarter. Posted their best earnings in 15 years. North america is strong but there is a growing concern about the Worlds Largest auto market china. It may sound cliche but it is Good Business is booming for ford in north america where they just had their most profitable quarter ever. In part because of Strong Demand for trucks and suvs. Take the new f 150. Customers are paying almost 3800 more for the new truck in that model. That is something that we dont see very often in the auto try. With auto sales nearing a record high many are worried that the industry has peaked. But fords ceo is not worried about americans hitting the brakes. There is a lot of discussion
From china. By the close, it rose to 17630. And the s p 500 gained 25. Exxon mobile and chevron were big gainers today because of the rise in the price of oil today. And two earnings came from pfizer and merk. They were held for the pneumonia vaccine and the Breast Cancer drug. Merck also raised their profit gains. Ford reported a blowout quarter. Posted their best earnings in 15 years. North america is strong but there is a growing concern about the Worlds Largest auto market china. It may sound cliche but it is Good Business is booming for ford in north america where they just had their most profitable quarter ever. In part because of Strong Demand for trucks and suvs. Take the new f 150. Customers are paying almost 3800 more for the new truck in that model. That is something that we dont see very often in the auto try. With auto sales nearing a record high many are worried that the industry has peaked. But fords ceo is not worried about americans hitting the brakes. There is a lot o