Kevin from bloombergs in downtown washington, d. C. , in Kevin Cirilli. And i am terry i am shery ahn. We start today with jackson hole. The economic symposium will be one of the most closely watched in years. Already Kansas City Fed president Esther George tells bloomberg now was not the time for more rate cuts. As i look at where the economy is, it is not time. I am not ready to provide more accommodation to the economy without seeing an outlook that suggests the economy is getting weaker. Sherry lets bring in bloombergs international and Economic Policy correspondent Michael Mckee live from jackson hole. You have a very busy schedule ahead. We heard from Esther George, but she is not the only one having reservations. No wonder we are seeing this market reaction. Michael the data seems to suggest that the fed would have an excuse for doing it when we saw the ism numbers for market today go below 50. That is a disappointing figure suggesting a contraction in manufacturing, suggesting
Maria good morning, big show this morning, coming up mit professor of oh economics and obamacare architect is here to talk democrat medicare for all professes, International Policy analyst richard here to talk iran, lots to talk about this morning, dont miss a moment of it. Rally underway, joining the conversation fox business Dierdre Bolton and wall street journal Editorial Page Editor James Freeman and host of the secrets of wealthy women podcast veronica dagger. Happy friday. We have a firmer tone this morning, stocks surging earlier in premarket also the highs right now, but still higher as markets continue in rate cut, 2day meeting, july 30 or 31. 25 basis cut and this morning to you i keep thinking of microsoft, what a huge surprise that was the First Time Ever that Cloud Business just rocketed. But stock was left for dead, right, after the eu declared monopoly, its not just a oneman show. Maria leadership has helped the company. Yeah, for sure, i wonder why is it a 90 chance of
Earlier losses closed at a record high. Thats kind of where our road map starts as it often does investors shrugging off Global Growth concerns. Stocks set to rally at the open. And records still within striking distance. Plus, broadcom eyeing symantec, my reporting added to bloomberg yesterday which broke the story. And mine. And jims give you more details. And pot shakeup, bruce linton out, telling cnbc he was fired from the Worlds Largest publicly traded cannabis company. Somewhat extraordinary. No. Wait. Having him on talking about being fired. Want him back all right lets talk about stocks. Looking to set a new milestone this morning s p 500 on track to open at an all time high. That would be the second time this week. Yesterday the index posted its seventh record close of the year take that, Global Growth concerns, take that, what did we get from edp this morning . Adp, 38,000 jobs less than expected created so what . So what i think melissa had some great commentary in last show
Fed. David today is jobs day. Last night, july 4 celebrations, including in boston led by alix steel and carol massar. It does strike me as i talk to you over in europe that one of the really iconic moments is an overture written by a russian composer, tchaikovsky, about a european war in 1812. It is kind of ironic. Incidentally, i remember trying to play that. With all the cannons firing, very difficult. But i digress. Seeing the market may be not hoping for them many fireworks. Lets have a look at the data right now. S p futures pointing downward. European equity markets a little bit sluggish. The euro is a little weaker. German data came in disappointing. Yields on the u. S. 10 year around the 1. 96 level. Weve seen selling in stocks and bonds in the european morning. Ive put iron ore in the data check today, not oil, because we seem big drops in iron ore in the Asian Session once again. It has been dropping like a stone. Story ise iron ore really quite something this morning. It is
Source on cspan. Unfiltered, unbiased, word for word. On the Nations Capital to wherever you are. Because the opinion that matters the most is your own. This is what democracy looks like. Cspan, powered by cable. Now to discuss on the effects of sanctions against russia two years after its invasion of ukraine with youth deputy treasury secretary Wally Adeyemo. During his remarks on the economy and the treasurys in new department domestic plants. This is about an hour. Actually a great pleasure ana former colleague, deputy secretary of treasury Wally Adeyemo to the council. Wally has had a jobs both in got and the private sector, of course the most important job yet was as the g20 and g7 sherpa and assistant to the president for International Economic policy which happened to be my job. Onon to bigger and Better Things from there, including playing an absolutely Critical Role on whole range of domestic and internationalâ– . oa Economic Issues at the u. S. Department of the treasury. He