A start yeah guys those clouds that you saw at going to be cool us off a much at all and yet not going to be staying around too. Cloud cover is actually associated with the moist layer that we have in the atmosphere that made it so muggy yesterday as those clouds push out it will at least feel drier today, but temperatures are going to be hotter. Golden gate bridge. It is clear no fog out there whatsoever nor youre going to see it at all today, 60s 70s for current temperatures look at antioch 77 right now never really cooled off for you overnight. You want that overnight fruit night relief didnt really get it last night. Oakland nevado San Francisco, san jose, Half Moon Bay all still have that muggy feel thats not necessarily going to last as conditions do dry out. Hot weather this afternoon means excessive heat warnings in pink for inland areas, these areas well in excess of a 100 degrees during daytime highs. And warm evenings to some not and experiencing that relief that we do like
Nevertheless, the dollar weakness theme is there. And the german tenyear yield. We are seeing a bid on the bond market. It kind of keeps determining what you want to do next in terms of so many of those asset classes. It is friday. And one of the critical things happening is that sports is back. Being on lockdown without sports was really hard. [laughter] but tonight the english rugby season[laughter] , the premiership restarts. We will talk to the ceo of harlequins. With us if youed have ever seen directly and you want to get a flavor for what it watch this player play rugby and you will get an understanding of just how big a sport it is. Anyway, we will get a sense of where the premiership is going. We will talk to what of the Sports Betting companies. Who we speak to now is david kelly, j. P. Morgan Asset Management. The market has taken a few hits this week. It is trying to. Push higher with equities but failed. What do you make of that . David it is probably too high to start with
He c. E. O. Of verizon, Hans Vestberg as we proceed throughout the hour. Francine european economies are starting to claw their way out of recession and we had encouraging p. P. I. Physician and the confident p. M. I. Jumped to 54. 8 with the services and manufacturing sectors expanding. Joining us now from paris is william, the Bnp Paribas Group chief economist. It feels like this was a good week for europe. We have the p. M. I. More than expected and the Recovery Fund. If you look at job losses theyre going to get ugly in europe. William that is a concern i have if you look at the p. M. I. Data today. What strike is that yes, manufacturing significantly and new export levels in germany are just flying but the employment series is showing that companies are under no intention whatsoever to increase hiring and on the contrary. Thats a concern. Its a concern because the recovery will depend on what households do, how much they spend and they need confidence. Alix what is going to give t
Predictions and youre making another big one. Why next week for what you call a monsterous rally into your epicenter stocks happy friday. We took a look at what happened the last time cases peaked which was late april it took 20 days last time. If we look at the current context, daily cases peaked july 27th the 20th day would be august 14th we have been seeing consistent 7day decline in average daily cases but our clients are thinking this is in the middle ground theyre not clear if its a decisive move. I think it takes another week. That will happen next week and i think lit be violent sdp you think people are ready to get out of these stocks that have been so tried and true. Nasdaq closes above 11,000 clearly money wants to go into big megacap growth yes i think megacap growth is cheap as a bond proxy because youre paying 50 times for an investment bond. Paying 30 times for faang isnt expensive. These are the names that have been written off by the market its only 26 of the market ca
Not his first or last. He will share his story on making money. Charles so before we even start with todays session i want to glance back to friday in the market. We saw a rollercoaster. It was all about news out of d. C. , right . Remember it looked Like Congress would throw in the towel on any additional fiscal help. The rally faded big time. Then came word talks would continue over the weekend and the market actually soared. For me the most important part of that session was the volume. It was highest day of volume in the entire month of july. It was on a up day. That is a huge buy signal in my opinion. Want to bring in Disruptive Tech research founder, lou, moneymap press, their chief strategist, shah galani and erin gibbs of gibbs wealth management. Shah, your thoughts on this market. It is breaking out. The volume is getting stronger. I think that is the ultimate buy signal. Youre absolutely right and it was the buy signal coming off the lows in march. What people miss is that th