Good morning to you from me as well. Welcome back from a long weekend. Long weekend on both sides of the atlantic. Check in on the markets this morning. Hard to remember back to friday. We did have another record close on the s p 500. Futures showing a mixed picture. Dow futures are up 3. S p down a half point. Nasdaq futures are up 3 points for their sake. Nasdaq, the star performer technology. As for the tenyear treasury note yield, seeing low yields across the board. Saw that again in last weeks session. Buying of treasuries sending the tenyear down to 2. 24. The big report is the jobs report on friday. Two weeks to go until the next fed meeting. Lets see what the data shows between now and then. Surprising youre saying hard to remember what happened on friday. Youre suggesting in vegas you were not just studying the market moves of last week . When you go to vegas and a threehour difference and come back, it prolongs the weekend. You were in california, you should know that. But i
London. Im francine lacqua. Lets quickly check on the markets. We decided to plug pound before anything else. If you were to choose one story you wanted to date deeper into, it would be bank of england and repercussions of a brexit on whether they will do qe and what an Interest Rate cut means for the economy. For europeanicture stocks overall, gaining a touch. We had earnings news here in there. Crude oil at 43. Lets get the bloomberg first word news with nejra cehic. Nejra siemens has raised its earnings outlook for the year after higherthanexpected thirdquarter profit. Europes biggest Engineering Company said profit from socalled industrial operations rose 20 in the three months through june. Chicago fed president Charles Evans says one rate hike could be warranted this year. He expects growth to increase in the second half of 2016 following disappointing gdp readings in the first two quarters. Investors are awaiting fridays jobs data for july. A woman has been killed and five other
Looks like we are approaching session highs. Julie yes, session highs. But in recent days, i feel like a broken record. The range is very tight. We do not see Much Movement. Its a gain of 91. 2 here and it has been remarkable how Little Movement there has been. I believe they are now up to 19 straight sessions where the s p 500 has not moved at least 1 by the close of trading. Always, there are groups that seem to surface. In terms of what is moving the most up word, weve got utilities performing the best. We have surging natural gas. On the downside, we have financials exerting a little bit of pressure in the opposite direction. And then there are moves in the individual stock levels. Ball corporation, which makes a number of different types of roddicks, sales falling. The company is giving a Free Cash Flow forecast for the full year. Ofbling its longterm goal 10 to 15 of earnings share growth in each of the next three years. What struck coming out with earnings that beat forecast and
And banging their fists. Companies, sectors, data, you name it. They just dont seem to add up. And the confusion sell, sell, sell. Buy, buy, buy. Is playing havoc with both the bulls and the bears. Even on a seemingly dull day, where the dow rallied back from some deep, deep levels to close up 18 points. S p was basically flat. Nasdaq advanced 0. 27 . Lets start with the broader economy. We have so many indicators that seem to be pointing up or staying strong. Housing, employment, manufacturing, nonresidential construction, broader retail sales. But then today we get this morning, one of the weaker manufacturing reports ive seen in ages. Whats a 49. 4 pmi number. With anything below 50 meaning contraction. Heck, today, britain gave you 53 and they just went through that gutwrenching brexit election. How can manufacturing be that soft, has oil two years after its peak finally hit home . Data doesnt seem to indicate that. Some say autos are peaking, but doing so at a very high level. Thi
The bulls and the bears. Even on a seemingly dull day, where the dow rallied back from some deep, deep levels to close up 18 points. S p was basically flat. Nasdaq advanced 0. 27 . Lets start with the broader economy. We have so many indicators that seem to be pointing up or staying strong. Housing, employment, manufacturing, nonresidential construction, broader retail sales. But then today we get this manufacturing reports ive seen in ages. Whats a 49. 4 pmi number. With anything below 50 meaning contraction. Heck, today, britain gave you 53 and they just went through that gutwrenching brexit election. How can manufacturing be that soft, has oil two years after its peak finally hit home . Data doesnt seem to indicate that. Some say autos are peaking, but doing so at a very high level. This number is plain out of sync then theres oil itself. There are two oil markets. We have a true commodity market, which is governed by supply and demand. Trust me when i say supply is swamping demand.