The sessions you want to take a look at whats happening with u. S. Equity futures this morning. Dow futures up 10 points, s p up by three we are still under water for all three major averages even after the gains we saw yesterday the dow down about 3 . The nasdaq is down 5. 6 also bumping up against the end of the quarter. Major averages still in positive territory. Youll see now, it looks like the 10year is sitting at 0. 65 of 1 . Andrew, welcome back thank you, becky House Speaker pelosi said democrats proposed a new 2. 2 trillion relief bill saying it is a compromised measure with in funding for schools and airlines white house chief of staff saying President Trump would be willing to sign a 1. 3 trillion relief package well see, guys where this all heads. Inching along we went from 2. 3 to 2. 2. I dont know where the white house is Vice President mike pence said yesterday americans should expect a rise in covid cases in the days ahead as testing increases in some midwestern states
About 24 hours away from the first debate between president ial contenders joe biden and donald trump. It also brings forward the conversation about wealth disparity in the u. S. The wealthy and businesses looking to take advantage of the tax system. Missable budgets are strained amid the pandemic. Just this weekend, asking for low tax, well governed states to give him a call, he is looking to move may be. This whole theme today back in the spotlight. President trump responding to that New York Times report yesterday. Pres. Trump total fake news. Actually, i paid tax. You will see that as soon as my tax returns. It is under audit and they have been under audit for a long time. Predictably, trump calling the report fake news, but not refuting it in any way and, and of course he could by releasing his taxes. That report and more coming. Romaine for all of the ethical and character issues that this may raise, it does not appear that he did anything wrong in terms of the law. The tax code
Yes, that is a correction. The dow down only 5 or 6 . That is not a correction. Jonathan correction emits massive rally correction amidst a massive rally. Tom i will get you something from tiffany. Jonathan i look forward to that. Data coming later. Lisa i am very curious to see with the jobs picture will be. To toms point, this is not a fullblown recovery where people are looking at a risk on feel in the markets. We will get the july job openings data, which is the leading indicator for jobs growth. Selling 35, billion of 10year notes. Also today, congress is taking a look at the u. S. China economic and security review commission. Very interesting to hear what the bipartisan proposals could be about legislation to potentially penalize china for transgressions. I really want to emphasize the bipartisan aspect of this. Youve got President Trump coming out against tiktok and wechat, and former Vice President joe biden coming out today with a proposal to levy taxes on u. S. Companies tha
Treasuries and the dollar gain as donald trump valves to disentangle the u. S. From china. The president also suggests heavy taxes for American Companies that create jobs overseas. Of realism. The pound slides as Boris Johnson says he is prepared to walk away from the eu without a brexit deal. The you the u. K. Top negotiator meets Michel Barnier today. And Angela Merkels team refuses to rule out linking the state of novalnyeam 2 to the investigation. An hour away from the start of cash trading. At what futures are showing in europe. Gains of about 0. 4 across the board this morning on the euro stock my widely traded contracts as well as ftse and dax futures. We see u. S. Futures showing a mixed picture with nasdaq futures lower and dow futures higher. You can see nasdaq insurers have leapt up. It looks like we may not have the tech the continuation of the tech slump we saw thursday and friday. Remember, the u. S. Yesterday was lows for labor day closed for labor day. What do you see .
Tells bloomberg theres no risk in using e. S. M. Funds to weather the pandemic. This as multiple policymakers warn of the rising risk of deflation. Manus its just gone 9 00 a. M. In dubai. 6 00 a. M. In london. Were digesting really one of these moments from the fed, nejra, whether it was truly a dovish message. Were not even thinking about thinking about the possibility of raising rates. So we got this jucks pox, q. E. Forever juxtaposition, q. E. Forever, versus the reality of risk for the world. As the number of cases rises, it is unsettling the markets. In excess of 2 million in the United States of america. So the message from the fed, battling against the uncertainty of covid19. Good morning, nejra. Nerja good morning, manus. The debate about yield curve control continues. We understood that the fed and officials were certainly looking at it. In terms of the reaction in the treasury market, i mean, the bulls certainly came back. We saw that 10year yield drop to a 72 handle. The f