Economic losses of 42 billion, something not to be possible. Up 12 billion from monday. The trip follows the potentially surpassing Hurricane Katrina in 2005. Secretarygenerals meeting yesterday in jerusalemit less than 30 of harveys losses are likely to be covered by private insurance. Life flooding will continue in southeast texas, according to the governor, and he is urging residents to listen to state and local officials and spoke on radio stations in san antonio and corpus christi. Trumps 2020 Reelection Campaign urges supporters to donate to Disaster Relief efforts for Hurricane Harvey. The email urges people to help fellow americans in need. President says he hopes that the administrations response will be regarded as a model. At a briefing with texas officials, Governor Greg Abbott called the response so far very effective, to which the president replied we will congratulate each other when its all finished. Global news powered by 2700 journalists and analysts in over 120 count
U. S. Equity futures at this hour have been a bit weak in the for the morning. You know what . Just the dow futures. That might have something to do with what becky is going to tell you about. The s p is actually up a point. The nasdaq is up about four. The nasdaq had some rough sledding lately. The dow is the index down today. Down about 21 points. Crude prices coming off a loss of about 5 . Wti posting the lowest close since november. Joe, i ae lewd eluded to it. Its sitting there at one price, then a totally different price. You think it has to do with the world we live in now . Absolutely. At 11 20 p. M. , oil is trading 45. 25 and the next hour 43. 76. How does that happen . Were the world is chasing alpha, when the quantitative models see an opportunity, which they see in oil, thats where all the activity is. It wasnt an overweight trader with fat fingers . No, and not pure fundamentals. Fundamentals are deteriorating for oil. It is seeing the opportunity, lowvol world. You go ar
And fight back. The people voted without knowledge of the terms of brexit. As these terms become clear, it is their right to change their mind. Our mission is to persuade them to do so. Jon guy johnson joins us now from london. Its a question i was asked this morning. What is he doing . Guy he thinks nobody is making the opposite case. Toys are in extent, he has a point. Theres very little that represents the people who voted remain. His tony blair the right person to be making this argument . Its very easy for Boris Johnson it because of tony blairs history of thinking about taking the u. K. Into the euro. He is an exceptional politician was anays speech incredibly wellcrafted piece of political speech writing. Is he is damaged goods in many peoples minds in the u. K. Jon he has the background to understand issues. The likes of tony blair will not make a difference in this debate. Who is his audience as he comes about the brexit situation and urge an uprising . Guy i think hes hoping
Rally, since we hit bottom eight years ago today, is all the result of the feds easy money policies. The other day when the dow gained points, nasdaq crept up a tiny point with 2 . I think its worth spending some time together debunking that canard because its a bogus story that casts the entire move as a castle in the sand that could be washed away by the wave of the feds impending rate hikes. Look, if you really believe that this epic multiyear increase was all about the Federal Reserve, as so many do, and not about the companies and the ceos and the people behind them that you invested in, then right now you should be scared out of your wits, no doubt, given that were probably going to get a very strong employment report tomorrow which will allow the fed to start tightening, most likely tightening fast. The fed aggressively cut rates during the grease recession because it wanted to entice our country into doing more business and it did it. So lets move on to something more befitting
Or, areer results, there going to be any surprises . Away fromut one hour the close of the trade, stocks hovering near the highs of the session. Talking, third day of gains. Julie there is not really anything that changed or 24 hoursin the past yesterday. Negative chinese 20 trade data. It is a pretty big rally on the economic catalyst. 100 89 points. By about 1 each. The volume is 13 below the 28 20 day average. Take a look at the imap. It has been the same handful of groups leading throughout the day. Materials, industrials, energy, and financials. Technologyry and stocks are also gaining a bit today. The individual movers contributing the most to the s p 500s gain our amazon at a record after the price target was raised to 1000 per share, and microsoft getting some steam, as is general electric. We have earnings movers trickling in, not just disney, but a couple of numbers out today, down at a Business Information and technology company, earnings beating estimates, International Fla