12, maybe. And jpmorgan says dont give up on nikola. Thats ahead we start with the markets. Dom chu has that for us. Weve been on either side of the unchanged line well call these markets stable. Weve seen some fractional gains and losses fractionally to the down side. A quarter percent to the down side for the dow the s p off a third of a percent. Similar moving for the nasdaq composite. Key level to watch for the nasdaq, 3401 at the highs of the day, we were up 19 in the s p and down 18 at the lows a good amount of symmetry with regard to the trading range today. A hot part of the market is the Cloud Computing industry this etf, ticker clou, has been a massive upside mover up another 1 today. Record highs for this etf and again since the pant lows wep lows, were talking about a 116 gain one other place to watch in terms of the stock, l brands, price target upgrade by analysts at jpmorgan, that stock was given up for dead quite a time ago. Up 87 almost a twoyear high this is victorias
Gave this answer whether asked about a peaceful transition of power. President trump get rid of the ballots and you will have, you will have a very peaceful, there wont be a transfer frankly. There will be a continuation. Charles we get reaction from the rnc coming right now. All that and so much more on making money. Charles recently in a mad dash for the exits weve seen gains turn into losses quickly. Some are comparing this action to the socalled taper tantrum. You remember back in 2013 when there was a great fear that the Federal Reserve was going to turn off the spigot, begin to undo the massive quantitative easing. Dont say to Stuart Varney i said qe. The stock market knows it has the power to moving averagers and shakers, president , congress, ceos, yes, even the Federal Reserve. I think the market rallied big time in august because it assumed there would be more accommodation. Then last week the market had its wakeup call, maybe the fed dont do more. Now the chance of fiscal he
To watch. Plenty of investors telling us they like the story in europe but is that overdone . We have a bit fiscal promised overnight from germany, and extension. Tom let me get right to it. Or can laura in a moment and then we will go to Dennis Gartman. Your first word news in new york. From theing today National Hurricane center, and says that hurricane laura will rapidly strength into a category 4 storm with winds of at least one of the 30 Miles Per Hour. The storm is expected to make landfall late today or early tomorrow morning along the louisianatexas coast. It has already disrupted oil and natural gas operations throughout the region. On the second night of the Republican National convention, speakers try to humanize President Trump and highlight his leadership. First Lady Melania Trump spoke from the white house rose garden. I dont want to use this precious time attacking the other side. Because as we saw last week, that kind of talk only serves to divide the country further. I
Lisa hurricane laura is moving rapidly toward a category four hurricane, possibly inflicting billions of dollars of damage on the gulf coast. Interesting to see how that evolves with respect to oil prices. What else can 2020 bring . Tom it is going to bring a lot of challenges in academic growth. Futures red and green on the screen. Lets get right to the Business Review this morning. Ata what we are looking for 8 30 a. M. Is the july durable goods numbers. Interesting to see what this tells us about Capital Expenditures at a time of such uncertainty for companies. The u. S. Is selling a record 101 of a record 151 billion fiveyear yields. See viceing to president mike pence headlining day three of the Republican National convention. Look out for his 2024 that form, also expected money 24 platform, also expected to be his 2024 platform, also expected to be a potential candidate in the future. Tom we need to stop and explain jackson hole. It is a beautiful place with mountains that only M
Comparison to the United States. I think comparisons across europe may be a little more challenging to make and put in a positive light. That has certainly been the focus and the delay to locking down the country certainly was an area of real criticism for the government. I suppose this morning, we are also focused on what is going on near to you in terms of hurricane laura building across the atlantic and a ready to make landfall. We are watching louisiana, watching texas. We get this red headline across the bloomberg from the Hurricane Center saying laura is seen rapidly strengthening to category four hurricane. This is new information this morning. That is a big number. Hurricane 4 is much bigger than a hurricane 2. 4 is getting very, very serious. This is the acceleration north , west the gulf of mexico of new orleans as well. In new york city, always quite good with our first word news. On the second night of the Republican National convention, speakers tried to humanize President