But dont take it from me. Take it from this jingle announcer its the late show with Stephen Colbert tonight, bleach bum plus, stephen welcomes john mulaney. And musical guest john fogerty, featuring jon batiste and stay y homin. And now, live on tape from a safe distance, its Stephen Colbert stephen hey, everybody. Welcome to a late show. Im your host, Stephen Colbert. Just hearing the band do the theme song is strangely moving. I forgot how much i missed hearing those guys its how many days . How many days have we been doing this . 40 days. This is the 40th day that i have been quarantined with my wife and kids. I feel like noah, but i only have one dog, and hes only interested in my leg. We all want haircuts at this point. I did something drastic tonight, i combed my hair in the other direction just for a change of pace and that was a bad idea. First of all, im getting a very p atrician flop over here. This the very mid70s jackson brown. Over here, theres a lot of empty real estate i
First a check in on the market the dow lower by nearly 300 points moved low er perhaps by the fitc rating plus, some street talk around discover financial the company ceo resigning. That stock down more than 10 . Also, good news, bad news. The good, Warren Buffett adding a stake in the stock bad, home Builder Sentiment dropping sharply with rates over 7 . We begin with the warning from fitch the firm saying it may be forced to downgrade dozens of banks, big ones, including jp morgan chase, coming after recently downgrading the United States credit rating. For market reaction, lets bring in doug butler, director of research at Rockland Trust what has got fitchy feeling so well, i could rhyme but i wont. Ill also not go there. But again, fitch downgrading the banks, very core lair to what they just did. Its their really negative on the government and theyre taking this as a broad swath theyre saying the Banking Industry as a whole and greater problems which is why they would hit jp morga
Chinese Exchange Language to attract we have wechat messengers and we work with Chinese Companies in the same language, so our customers are growing more and more. The new engine of the minsk motor plant was installed on Russian River vessels and successfully tested on open water for the first time in history , belarusian motors are operated as part of such equipment. The Russian Company purchased fourcylinder diesel engines from mmz4 with the minsk motor engine, a Big Industrial step towards import substitution of this type products from the russian consumer in the near future. The entire range of engines will be adapted to the requirements of the river and sea register. And now to the Current Exchange rate based on the results of the last auction. On the Stock Exchange dollars and chinese yuan. The russian ruble fell in price and strengthened against the belarusian one, and so the american currency costs 3 rubles. 15 kop. The euro Exchange Rate at the National Bank is 3 rubles. 46 ko
This is fast money live from the Nasdaq Market site on the desk, tim, and our guest trader victoria fernandez. Thank you all for joining us here tonight we are going to start with a sputtering end the dow gaining while the nasdaq and the s p were lower on the day. All three indexes well off their lows after a hotter than expected inflation report. Wholesale prices rising more than forecasts in july both the nasdaq and the s p posted their second straight week of the losses, the first time the nasdaq has done that all year now focus shifts to the next crop of earnings reports with the retailers. Those are the big headlines we will see next week home depot first, walters, target, tjx, along with others target is the big exception. What can we expect to hear from these names in next week and will they give the market support to turn things around . Obviously, a lot of big names, two dow components, home depot and walmart. We really care what walmart has to say about the state of the u. S.
Moments ago. Its negative, but not as bad as earlier this morning the dow remains positive, up 92 points its being held up by United Health care and walmart, which is getting a lot of analyst love ahead of next week tech continues to be under pressure, carl as for the data flow this morning, its really been about two reports investors are focusing on, ppi, comes in a little hot a little it wasnt extreme, but there were some weird factors it like lea pointed out. Then we got the Inflation Expectation from university of michigan and you got a surprise on the oneyear and five to tenyear outlook thats good news for the markets that are rooting for lower inflation. Some reports on ppi and the Financial Management prices. I think one headline is what the stock market gives, the stock market takes away. Kind of a weird meta dynamic. The whole reason was higher stock market lets dig into the weeks Economic Data. Against the back drop of hotter than expected ppi and cooler cpi. Our next guest s