He boosted his ear and forecast by 24 , writing a fall in erp, adjusted risk premiums will be offset by a rise in bond yields. The combination will boost the end,o already 600 by years 3800 in 12 months time. This represents a significant increase driven by valuation. What do the technicals have to say about that . Joining me now is katie stockton, founder of fairlead strategies. Off of the highs now. What does that tell you about the next direction . Is flirting with that resistance. The level im watching is 3394, the intraday high from february. For a breakout to be decisive, we need to see a couple of closeouts above that level. Highs onct new positive shortterm momentum but also looking for momentum to falter before the end of the month. You have some overextended readings in some of , alsoternal measures sentiment. Basedrcentage of stocks on their 50day moving averages reaching levels often associated with pullbacks in the s p 500. At the same time, sentiment reaching exceedingly
We are also getting some breaking news out of china for end of july Foreign Exchange at 3. 1 coming in trillion. It is a touch above that. The markets also focusing on the stimulus in the u. S. That may or may not be coming. President Donald Trumps latest attack on Chinese Companies also stoked tensions with beijing, which is why we are seeing treasuries and dollar actually rising. The president signing an executive order prohibiting u. S. Residents from doing any business with wechat, tiktok, or the owners of these chinese apps. Now, lets get straight to the bloomberg first word news. There has been no headway in talks between the white house and democrats over a new virus relief package. There are still major sticking points and both sides are accusing the other of refusing to compromise. One key difference is the top line number. The democrats want 3. 5 trillion of aid. The republicans want 1 trillion. Another round of monetary stimulus is expected from the bank of england. Policyma
Figuring out that the problem is not about the means of production the problem is the money printers and theyre taking action stacey yes protesters around the world are putting their hopes and to crypto currency were seeing albo the global insurrection against banks their occupation i think we also have to kind of elaborating its like a global insurrection against paper printer occupation or paper printer theft you know p. P. T. Theres something going on crypto currency is have always had staying power due to institutional and Retail Investors as well as traction as a digital means of exchange yet its on sensible nature and the potential of having relatively private transactions as well as an alternative to fiacha currencies has lent itself well in theory to protest movements that are threatened by the use of state force so wherever you see insurrection or uprisings around the world and weve covered that recently with the black ice matter protests we see all the signs promoting between
Us venezuelas legal battle to access gold reserves in the u. K. It moves to britains high court. The rate of cover 1000. 00 infections have surged across southern and southwestern u. S. States new cases of the virus spiked for bars restaurants and other businesses reopened early it has some questioning whether restrictions have been lifted too soon rob runnels reports from los angeles. 29 u. S. States and territories are seeing a spike in coronavirus cases several including arizona california oklahoma and texas reported record high single day infections governor rhonda scientists says worrying numbers of new cases involve young people who were previously thought to be at lesser risk huge huge numbers of people particularly in that 20 to 30 cohort who are testing but then testing positive 62 percent of all new cases in florida for the week of june 7th are under the age of 45 decentest says some younger people have let down their guard i think that weve started to see you know some erosi
Completely even though their transactions are being censored i. E. Theyre not able to withdraw certain amounts of money beyond a certain amount of money but theyre theyre trying theyre to get dollars we also see that venezuela where the dollar is the preferred medium or right so occupy wall street back in that 2008 period that was even before pick wine was on the same but there was this idea that you know what maybe we need to go after wall street maybe thats the source of our problems so that was the beginning of the transition from a socialist mentality to an anti feel money mentality and now we have the global insurrection against banker occupation as people begin to understand that the way forward in terms of. Achieving some equality and justice and we saw this in another campaign called defund the police right so its idea of defunding right so occupy wall street the funding so activists are starting to figure out like maybe. Its the money maybe its the money right so now what were