Indices were down 2 . Right now the dow is down. 9 . Before some tech earnings, the nasdaq up a quarter percent. A lot of movement in oil. We will be speaking to paul sankey about that. The 10year yield down to 55 basis points. Just to show you that it is Consumer Companies like procter and gamble that are helping the market recover a little bit today, that index up 1. 9 . People cannot do without their necessities, as long as they have the money to buy them. U. S. Economic data showing gdp shrinking at a record pace. 17plus million americans applying for ongoing benefits, which necessitates the need for more to be done. Lets bring in narayana kocherlakota, former president of the minneapolis fed. He joins us from rochester, new york. Talk about the dire Economic Data this morning and what it tells you about whether even the minimal reopening that we are doing is helping the markets more broadly. Narayana thank you for having me on. The numbers were certainly eyeopening. 10 fall transl
Portland were groups of mothers fathers and military veterans are joining hands and readying their leaf blowers to push back against the tear gas and nightsticks the us establishment class and their mindless pundit followers have tried with all of their might and Public Relation teams to paint these protesters as dangerous terroristic groups of crazed amped up leftists who who could at any moment burn down your favorite courthouse or church after kidnapping your blonde blue eyed children and forcing them to read howard zinn while listening to k. R. S. One and watching old fidel castro speeches at any moment thats going to happen we saw this last tuesday during u. S. Attorney general william bars testimony to the u. S. House Judiciary Committee when u. S. Representative matt gates worriedly asked the bar about the possible spread of n. T. If these protests in portland were not contained. Is a. Your view then that chief and other violent people engaged in these acts would simply stop wou
Yearoveryear. This, despite a huge boycott by many advertisers. Apple delivering a surprise revenue boost, growing 11 amid expectations of a possible decline. The company delaying its return to work, now setting early 2021 as a target date for the u. S. Campus. I just got off the phone with apple ceo tim cook. He highlighted a record quarter, Record Services revenue, and focused on the iphone result, which he says was better than expected after a fairly depressed first few weeks of april. Thanks bounced back he says the pandemic is likely helping sales for the iphone for the ipad and mac, but hurting iphone and wearables. I spoke to alphabet ceo who talked about the fragile macroeconomic environment. We will get to her comments in a moment. Lets start with apple. What you see . Were looking at the post market over the last few days and it has been a little bit rocky. Some of that was psychological overhang. Something very impressive on apple, they put up 2. 58 a share. That is exactly
New claims actually rose. And 17 Million People are still drawing Unemployment Benefits. I believe thats a negative for the overall market. Get to that in a second. Look at this. Amazon, apple, google, facebook, the day after the top executives took a pounding from the politicians, these stocks went up during those hearings. They are down in preMarket Action this morning. Hold on. All four of these giants will report their earnings later this afternoon. This is big techs big day. My opinion, these Companies Need blowout numbers to sustain their very lofty stock prices. Watch it unfold at 4 00 this afternoon on this network. Overall, i got a lot of red ink to show you. The dow is looking for a loss of over 300 points, down maybe 40 for the s p and off 131 on the nasdaq. Heres one of the negatives thats hurting the market. Emergency virus relief. It runs out in 24 hours. Congress is divided over how to replace it or extend it. Investors want more stimulus but theyre not sure they are goi
Adviser, general michael flynn, has taken yet another extraordinary and unprecedented twist. The full d. C. Appellate court today announced that they will be reexamining the Justice Departments decision to drop its prosecution of general flynn. The activist clintonappointed judge who has overseen this case for two years, the District Court judge who asked the Appellate Court the take the unprecedented action of reviewing the entire case, judge emmet sullivan, a recent ruling from three judges on that same Appellate Court ruled that the case should be dismissed. But the full court has now reversed them as well. Without basis in law, without precedent anywhere in our court system and has set oral arguments for august 11th to effectively retry general flynn and to extend further the judiciary, the judiciarys persecution of him. As if three years has not been more than enough to watch as a corrupt, politically corrupt department of justice and federal bureau of investigation needed the hel