Economic data in the u. S. Here is what we have got. Initial jobless claims and Building Permits. 9 45, the hits keep coming, bloomberg comfort index, the 10 00, the Philadelphia Fed business outlook. Earnings, danaher, Morgan Stanley 7 15. And blackstone, a big one before the bell. After the bell, ibm and google. Say know what ibm will they changed the conversation. The Conference Call will be about looking forward and what kind of appreciation to come out of the deal. Items to note the Senate Transportation subcommittee hearing on gm. Are they going to recall a corvette . They are recalling jimmy ramadi wake up. On the brain. Mary barra has been before congress four or five times. Present obama will be speaking at the port of wellington on infrastructure at 2 10, and Angela Merkel turning 60 today. The british open also begins. Doesnt be president make his way to new york this evening as well . Be a mess. T will do not go anywhere tonight in new york city. Just stay in your apartment
Good morning, everybody. I am connell mcshane. Where are the spending cuts . Now, the president may want to pull the rug out from under them. We will tell you who has the leverage. We are all expected to get something less in our paycheck. How much the government takes is the question. Cash only. The vatican is not in line with new regulations. The pope can only accept your cash donations. The actor Patrick Dempseys new business is coffee. He is taking on starbucks. All of that is going on today. Plus, it is a jobs friday. We start off with nicole petallides. Nicole not too far off the unchanged line. It is just not good enough. Americans are still waiting for jobs. The nasdaq and the dow pulling back a little bit. Today lulu lemon is down. At the same time, they upgraded under armour. What is interesting, though, when i was looking out lulu women, over 52 weeks, it is up over 44 . It has been a stellar performer. It has gained in popularity. Connell thank you very much. There is fresh
Coalition. His firm trading higher on the Deutsche Bank upgrade. Zblrj we kick off with the second reading of the eu services. Private sector returning to modest gross in july. Pmi suggesting the economy starting to stabilize. Business expanding for the first time in 18 months. The market using composite purchase managing index up to 58. 5 from 48. 7 in june. Breaks the 50 threshold for the First Time Since january 2002. Headline figure revised up a tick from the permanent reading of 50. 4. Slightly better. Thats just taken the euro dollar to the best levels of the session at 132. 89. Below 133. Trading tight ranges on euro dollar. Joining us is jonathan tapper. Nice to see you today. The pmi is now almost just about in expansion territory for europe. Are you confident that we finally got after two years we finally got some Sustainable Growth coming back . I think that this is a cyclical upturn. We are seeing some improvement. Varying perceptions. The Research Firm i run, work with, we
Margin that has down arrows, the dow is down 150 points, has come out of the lows the last four weeks of all been gains. This week is looking like a losing week unless something changes, we will be snapping that winning streak. 15,543, we are well below that. Nasdaq looking like it is going to lock in some losses, down six points. A majority of names to the downside and activevision, the vendee selling off its majority figure told part of it but you see 15 . Back to you. Dennis thanks, nicole. To the latest developments in the case against sac capital, team coverage, adam shapiro outside lower manhattans Federal Court House and Charlie Gasparino with what is next for as ac and steve coin. Lets go to you first. Lori or start with charlie. Adam, we got you. Lets go ahead. Sorry about that. Lou the issue was passed out loud and everyone was playing nice from the Attorneys Office as well as the defense team. What was perhaps getting a head line is the amount of discovery, the evidence the