Concern about the economy and manufacturing and housing. The dow and s p hit alltime highs this week and the dow industrials cracking the 27000 mark for the first time and staying there. Joining me now is mike murphy. Happy to be here. The first of the week we had a little said in ecb, give me your take away from the week. I think people are really helping that the fed will be accommodated. But the backdrop or is the market right now can support higher level without the fed. But if the fed comes in and gives us a rate cut on top of the economy that we have. You can call it was to the stock market and some people would say. It will give us new highs in the market. If we hit a rate cut in the market reacts negatively because maybe it looks like the Federal Reserve know something with that we dont. Were out of 50 when youre low on a payment per wave growth of 3. 1 certainly in the first corner. Here we are on the doorstep of the Second Quarter earnings. Not expected to be great, expected
Concern about the economy and manufacturing and housing. The dow and s p hit alltime highs this week and the dow industrials cracking the 27000 mark for the first time and staying there. Joining me now is mike murphy. Happy to be here. The first of the week we had a little said in ecb, give me your take away from the week. I think people are really helping that the fed will be accommodated. But the backdrop or is the market right now can support higher level without the fed. But if the fed comes in and gives us a rate cut on top of the economy that we have. You can call it was to the stock market and some people would say. It will give us new highs in the market. If we hit a rate cut in the market reacts negatively because maybe it looks like the Federal Reserve know something with that we dont. Were out of 50 when youre low on a payment per wave growth of 3. 1 certainly in the first corner. Here we are on the doorstep of the Second Quarter earnings. Not expected to be great, expected
These are your markets, the stocks europe 600 is down 0. 3 . Of course, what that means for easing against the backdrop of threats to Global Growth. Ignore this, it is the wrong number. If you look at oil, its up a touch, but definitely not at 9. 74. Will get an update shortly. There you go, american crude at 58 and . 85. Coming up that we speak to the Democratic National Committee Chair howard dean as the democratic debate takes place tonight in miami. Ahead of that government lets get straight to bloomberg first word news. Special Counsel Robert Mueller agreed to testify on capitol hill, setting up a dramatic confrontation over the trump presidency. In his report, he said he could not conclude whether Donald Trumps campaign conspired with russia the also said he could not exonerate the president from obstruction of justice. , that is whatorce President Trump threatened iran with if they attack the u. S. Tensions continue to flare with the president warning republic of quote obliterat
Shery theyre watching daybreak asia coming to you live from new york, sydney and hong kong. Annabelle counting down to asias major market open. Paul a risk off move as fears of further rate hike go further south for u. S. Stocks and bonds in the intervention alerts zone as we wait for japan cpi numbers. Beijing is said to tell state owned banks to step up in the pboc also chiming in to stop yuans slide. Goldman sachs planning a hiring spree to address regulatory concerns from authorities, including the fed. Shery u. S. Futures extending the declines we saw on the new york session were u. S. Stocks were down for a third consecutive session. Tech giants leading the decline the likes of microsoft, apple were down today. We have pessimism over the chinese economy, but it was really about the concerns that the fed would tighten policy. We had more data today showing the labor market remained resilient with those jobless claims. We had most treasury yields higher. Talking about the 10 year y
Thank you, larry. Good to see you tonight, gentlemen. First to you, governor, what do you make of oversight chair james comer inviting President Biden to testify in front of the itch peachment inquiry and theyre not giving up even as the white house demands they shut it down. Joe biden is not going to go. The interesting thing is though, he wont go and hell invoke executive privilege and hes right to do. How come peter that varicose veins row is in prison for the same thing and let joe and peter share a cell for the same thing and failing to unload on congress. I mean, why not. Lets be honest and thats never going to hatch. Joe biden is not going to go and testify. I think the house is doing the right thing by the investigation. I dont think it makes sense to take an Impeachment Vote because they may not get it and even if they do, it goes to the senate and it dies faster than an ice cube at beginning of the door of hell. It just isnt going to happen. Elizabeth aint going to happen. Wh