Markets slump as warnings from the fed on the need for more stimulus ignites fresh jitters. Powell and mnuchin take the stage again today. Partial measures. France cracks down on gatherings and bars but will not impose a full lockdown to stem a surge in virus cases. Do it like the germans. Richie soon act will set out a new crisis plan to protect jobs today. One proposal is for a wage top up scheme for workers who return parttime. Otherwise known here as we are under no an hour away from the start of cash trading in europe. Big drops anticipated for european stocks. You can see ftse futures down 9 10 of 1 . Dax futures down 1 . Down even futures more. U. S. Futures dont look as bad. Remember, u. S. Stocks took a big hit yesterday. Europe escaped losses. Europe has catch up play on the way down. Set, at least in the s p and dow, to stabilize. Anna absolutely. Thats a crucial transatlantic difference in time. We ended in very different places yesterday. Lets have a look at the gmm. You c
Jones industrial average up 16 points but its the nasdaq thats breaking out of 88 points on the nasdaq this morning and s p futures up 4 and 3 quarters staff largest Economic Contraction in u. S. History yesterday, another uptick on unemployment claims push selloff i didnt do, the dow industrials at the close yesterday still the dow, nasdaq and s p 500 on pace for fourth straight month of gains with industrial up on final day of july. Economic recovery, where is the economic recovery headed and what can the fed do to support it . Coming up at 8 10, chief investment offer rick is here and you dont want to miss valuable insight and commentary stimulus stale meat, still no deal with extra unemployment expiring today. President trump does not want to see election day move but also does not want to see fraud. U. S. Appeals court said to reconsider dismissal of his case. Coming up 8 30 a. M. Congressman jim jordan will weigh on latest moves on flynn, the congressmans fiery take away as well.
Have the numbers as soon as they hit the tape and show you the impact. Coronavirus keeping the c task force going indefinitely focusing on Vaccine Development and reopening the economy. Meanwhile some lawmakers looking to expand the Paycheck Protection Program and add more stimulus but others raising concerns about growing debt and deficit. Markets this morning pointing to higher opening. Take a look at futures, indicating market wills open higher in triple digits, dow up 3020 points, s p is up 41 and nasdaq higher by 138, one and a third percent, this after concerns of new china relations to china. Scope memo is out. Outlining authority to former special counsel Robert Mueller, it reveals probe went beyond and completely openended. The fallout coming out. People are working out and playing video games, pelaton surging 66 , the company boosting Sales Outlook and the stock flexing muscle as well. Stock up 17 in premarket. Fortnite becoming one of the most Popular Video games ever surpas
It is better than the nasdaq which is down by 3. 5 for the week. Dow down 1. 5 . Yesterday was a rough day. It was yields. The next board that we will show on the back of everybodys minds. Investors. Normal people are not saying oh, my gosh. 30 more basis points. We are sitting up and taking notice of the 10year treasury now. How low we were for a long time with the backtoback crises. Right. If you look at the steep curve, that tells the story from the lows. The 2year treasury is the same story. Japans central bank maintaining the ultra loose policy. Bank of japan citing uncertainty with the economies and Financial Markets at home and abroad. This is a big deal. The yen has been vehweak. There have been expectations to raise rates. Governor euda indicated that would be the case. As soon as the end of the year, they would talk about finally ending negative Interest Rates. That has taken place for a long time. Yesterday, ashley spoke with the Prime Minister of japan. We will show you tha
Flat. The ftse is down by 0. 1 in italy. Crude was the big story yesterday. Wpi this morning is up once again by 1. 6 . Gain of 77 cents to 48. 10. This comes after it looks like additional countries from opec are standing with saudi arabia saying those production cuts need to be expanded and also we saw a surprise decline in the supplies here in the United States. Now lets talk about todays corporate story. Shares of snap plunging after the Company Released its first report since going public. Snap missed on the top and bottom lines. The company struggled to keep up with user growth validating a lot of concerns about its ability to take on facebooks insta fwram and tgram and the s feature. Heres what evan spiegel had to say about competition on that call. People will copy your product if you make great stuff. When google came along, everybody felt they need a search strategy. When facebook came along, everybody felt they needed a social strategy. With snap, we believe everybody will d