The hearing was set before the bank agreed to pay 4 billion. The race for tiktoks assets aress the globe sees we told its been talking to geo platforms. We do have some breaking news crossing the bloomberg. Current account numbers coming through. We are getting the july current account surplus coming in at 7. 5 billion u. S. Dollars. The trade surplus sitting at 6. 9 7 billion in july and we are watching out for some other developments coming out south korea today. Highlevel officials of the Ruling Democratic Party and the government will be meeting to discuss a second cash handout and potentially a fourth extra budget according to local mode media reports and we are expecting perhaps an announcement when it comes to the social distancing measures as well as the coronavirus update to come. Lets take a look at the fed when it comes to the markets. It was a fallback overnight when it comes to u. S. Stocks and driven by a correction in the highflying tech sector. We saw u. S. Stocks falli
Full circle. Rally, caps its 50 briefly touching a record before closing just below that level. The 175 days between peak to trough and back to peak make it the fastest rebound in history after a crash. Stepping up to the pressure. The u. S. Says it will impose extra tariffs on some eu goods from september 1 in its longrunning dispute over illegal subsidies in the airbus case. Plus, no compromise. Democrats and republicans point the finger at each other, as the stimulus debate gives way to electioneering. The two sides still remain trillions apart. Just under an hour away from the start of cash equity trading in europe. We are looking for german Consumer Prices. We are seeing actually a drop month over month of 0. 5 . If you look at wholesale prices from a year ago, there is a gain of 0. 5 sorry, wholesale prices from a month ago. Prices, 0. 5consumer percent drop, wholesale prices, 0. 5 gain. From a year ago, we see wholesale prices that dropped 2. 6 in july. From a year ago, the drop
Cyclical recovery here. I guess thats something for the day. Based on the Technical Levels like the 200 day moving average, there are bullish signals out of the small and midcap space. Caroline what is the number one risk on your mind . Please ask that again . Caroline what is your number one risk . U. S. China . Deteriorating earnings . Coronavirus and a lack of a vexing . Vaccine . There are always risks that keep you up at night. Longerterm, ive never seen the monetary stimulation i have seen in the last six months were money growth is rowing at 80 annualized. I think ive been wrong that inflation has not surfaced but i do believe it will so longerterm i worry about inflation because it erodes the real return of the tone of stocks. I worry that post qqq earnings season as they move into the number that we have democratic sweep and what it does to the Corporate Tax rate, that is a risk as well. Caroline great to get your expertise. Breaking news. Microsoft out with earnings. The clou
Who outperforms when it comes to the smallcap. Taylor we tech about the theme of the week, theme of the month. Back into gold and further out of dollar weakness. I heard you ask that really smart question about the dollar a few institutional banks trying to question that idea. That, thatr told you the dollar is for now still the reserve currency, at least in his lifetime. Big picture when we talk about flows, that will be one to watch. Romaine lets bring in linda. We are inthis market right now, at least off some of the record highs of the industry . Is this a market you want to buy and hold or do you become more of a trader in this environment . Linda i dont believe that any of us are particularly any good at being traders. It is an unprecedented time we are living in right now. We still have very high unemployment. We would like to have more belief that the virus is under control. I think powell made that comment to us as well, that the virus is going to decide much of this. Bulls on
We are getting out of equities and bonds. They are getting out of crude. They are all just going into dollar, the dollar being another safe haven here. Caroline certainly the dollar remains the haven of choice. It is interesting whether we are talking about an inflationary or deflation area cycle as sherry was pointing out. Volumes have been very much on the thin side today, and people have been taking a step back on the risk on and risk off folk us. Volumes in the s p 500 remain. Romaine i am glad you brought up the volumes. That is something we should have talked about a bit more. The price action over the next couple of days may not be completely reflective of economic sentment, but it could cause a lot of problem for folks depending on the side of the trade you are on. Caroline lets take it back out to sherry paul now. Sherry, the big expiration as for the hearing from that coming up. Volatility s of and you are saying to remain committed. The dollar remains stronger as taylor poin