Announcements, still a couple hours away. Edward lawrence where things stand. Reporter the Federal Reserve has not cutrate since december of 2018. Nowed administration would like to see 2008. The market is pricing in a 25 basis point rate cut at this point. If you look at the speeches over the past month or so, of the 10 voting members on the federal open Market Committee six of those, those six on the screen, have indicated they would favor a rate cut. Now this Federal Reserve chairman Jerome Powell says that the Federal Reserve will use its tools to keep the expansion going. This is important, his language is important, not to head off a downturn but keep the expansion going. That could signal the Federal Reserve could act before they saw any numbers that represent a downturn. They are slow and deliberate in the moves up. A Senior Administration official says the president will call for a more aggressive Monetary Policy. The official says the president want a 50 basis point cut today
Fed rate cuts and a decade. A busy week also brings policy decisions from tokyo and london. Shery lets get you started with a check of the markets closed. The session in the u. S. , the s p 500 and the nasdaq closed at record highs. The biggest jump in three weeks for the s p 500. The biggest in five for the nasdaq. We have twitter and alphabet leading a tech rally on positive results. Gains coming from stronger than expected secondquarter gdp numbers. We will see a rate cut by the fed this week. A very busy week for earnings in the u. S. We are expecting more than 160 companies to report. U. S. Futures unchanged. Lets see how we are setting up for asia. After a bright start, we have seen new zealand grinding steadily lower, looking kind of flat. Nikkei futures, kospi futures also flat. Busy week of earnings out of japan particularly. 157 Companies Reporting this week. Twoy we will hear from among others. 1 5 other kospi will report this week. In australia, the future is looking bright
Trying to tackle multiple challenges at this time and yes hes to draw lessons from todays results and take action accordingly lets go now to his such a claim joining us from ancora thank you so much for your time thank you. On to other news in the u. S. Secretary of state mike pompei it was heading to saudi arabia and the u. A. E. On an impromptu trip to coordinate with allies and prepare against iranian aggression but before boarding his plane compass said washington stands prepared to negotiate with terror and with no preconditions. Im heading out today our 1st stop will be in the kingdom of saudi arabia the United Arab Emirates to great allies in the challenge that run present and will be talking with them about how to make sure that we are all teaching line and how we can go about the Global Coalition coalition not only throughout the state but in asia and europe that understands this challenge is it repaired to push back against the Worlds Largest state sponsor of terror were prep
It has gone through many iterations. Now we are in the Dark Department art department. It has been publishing all sort of books since the 80s. There was a large stretch of time when they were publishing mostly regional poetry. Has roots in the illuminated manuscript. That is some centuries ago. It has happened all across the world. Many different cultures have some version of the book. It came to a head in the 60s. Starting with the constructionist. People started to call into question the versatility of a book. This is a book that is more interested in the tactile experience of the book. It tends to push the boundary of all kinds of material books are made out of. What kinds of shapes they take. It is not just a book bound on one edge. Most paperbacks are perfect bound and considered on the edge. It can become as large as the landscape it is trying to contain in its concept. Readers about the experience of turning the pages or flipping through it. Thinking about sequence. The pace of
Abramowicz i am jonathan ferro. Lisa abramowicz actually going to 731 lexington avenue and just making it in time. Good thing Brian Moynihan does not join for another 60 minutes. Lisa really, that is how we are going to start . I was prepared to be here early. Jonathan you want to trade . This will fill out for the next two or three hours. Brian moynihan will join us in 60 minutes. We want to start with the price action. We begin with dollar yen. Something truly historic just happened, something since not since 2007. The japanese yen is weaker even though weve just seen the first Interest Rate hike in 17 years. Lisa on one hand people were expecting this. Some of the rhetoric out of the central bank was not hawkish. They were indicating they were not prepared to hike again. That is why this currency pair is dead in the water. I do not understand this. This is what everyone was waiting for. Michael jonathan there is a big difference between the end of negative Interest Rates and the end