Stocks are performing right now. Lets begin with u. S. Equities. We have seen a little bit of a selloff today. S p 500 lower by 4 10 of a percent. Olivia we did get a secondquarter gdp report this morning. A little bit weaker than economist forecasted but there was an upgrade to the First Quarter. That is having a little bit of an impact on the treasury market. We will show you the yields on the short end by two or three basis points. People buying the long end of the curve there. The dollar index up about by one half of 1 . Trading at a fourmonth high on signs of the u. S. Economy. I think the recovery is continuing to affirm. Pimm economy did not contract. Lets take a look at some of the top headlines at this hour. The u. S. Economy gaining strength in the second quarter. Gdp rose to 2. 3 . That is slightly less than economist had expected but at the same time the Commerce Department to revise the First Quarter results higher and set of contracting. The economy grew 6 10 of a percent
Economic earnings sent the indexes lower, facebook dropping 4 after it Second Quarter spending increase. Facebook really opening lower over the last two days. Whole foods is another loser after reducing its sales forecast. Lets move on to commodities. Nymex crude and brent moving a little higher. Brent a little bit more. They are still down again for as we have seen increased volume. Pimm look at this chart this is the biggest monthly chart. That is amazing. It is ugly and has changed a lot since the feds lastting for top meeting. The 2year note reaching the highest in six weeks on that gdp report. That raises the probability of a hike in september. The gap between the 30 year yield narrowing. Finally, lets take a look at the currency market. The dollar strengthening against the euro. Taking a look at the yen the dollar strengthening their. Matrix the currency which i use on a regular basis. Is colorful and easy for me to read with my poor eyes right. But there, you get to see whats go
And im brian sullivan. Crude oil falling again, and that seems to be hurting your investments today. The dow is down, not a lot, you can see 15 points, crude oil though is down 2. 5 . Many in the market not only watching oil but also looking ahead to Janet Yellens big speech later on this week. And of course were going to let you know everything you need to know about that coming up. Michelle. Hey, brian. Im michelle carusocabrera, heres what else is happening at this hour. Shares of Dunkin Brands up more than 2 tracking their best day since july 14. Automobile driving in the United States hitting a record 1. 5 trillion miles logged in the First Six Months of 2016. Thats up more than 3 from a year ago. Ralph lauren now joining speedo in dropping sponsorship of olympic Gold Medalist ryan lochte after he admitted to lying about being held up at gunpoint in rio. Lot to get through this hour. Going to start with the markets though. Market that no one seems to be trying to beat anymore. Ins
May be its biggest challenge yet raising money to fight ebola. Welcome to Market Makers. I am Erik Schatzker here at bank ofattan america were minutes from now, i will be interviewing the ceo and recently named chairman of the bank, brian moynihan. I dont need to tell you what is bank has been through. 70 billion is what bank of america has paid as a result of its role in the mortgage meltdown of the financial crisis that followed. Today, there is light at the end of the tunnel. It was a three dollar stock and now it is a 16 stock perhaps on of thatto 20 and a lot depends on the outlook for Interest Rates. This is fed day and brian and i will talk about the outlook for Interest Rates and the yield curve and whether the market. Perhaps as being too complacent we will talk about Student Loans and auto debt and europe. We will talk about apple pay. Brian moynihan will be here in about 10 minutes from now. You clearly are headed for a big morning. Minutes, mysix missing notebook and my bla