Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.
A negative picture for the u. K. And labor economics does not necessarily tally with whats happening. We are getting some details on whats happening in the u. S. Housing market. We are dealing with that. This is a month on month number. Last month it bounced back strongly. This month the market was a 16. 6 number and we are ahead of expectation. Yearoveryear, we have seen this out of the come back. The last time it was at 10. 4 and we were expecting 2. 2 on that number. Expecting 12. 7. This is more positive. Alix but can we sustain it if we dont get sustained stimulus . Coming up, kevin johnson, the starbucks ceo will be joining us. And patrick will be talking about the tech hearings and what he has to say area to say. Peter is joining us now, nothing is expected today, but what can say to reassure markets that they are all in . Ritika not expecting a whole lot, peter not affecting a whole lot, but i think that the press conference will be important, certainly powell will have to addr
What could detail the stocks the s p advanced and the nasdaq climbed 1. 24 . What would make us want to dump the red hot stocks that have been leading us higher i dont see this rally collapsing under its own weight, which is what happened the last time we had an explosive tech rally in 2000. We got ahead of ourselves but the Actual Technology wasnt there yet. We laugh at the. Com casualtiecs the truth is they are ahead of the time it could have been chewy i want to take on the hateful 1999 analogy, remember when it was shot up in 2000. I want to take it on directly. You have to understand why its misleading and constantly brought up and why it makes sense to do so because there are surface level parallels but not that much otherwise. Back then we had two markets, the s p 500 and the go go nasdaq which is a little like today only one of those markets was real the s p. Thats a major difference this time around. Im more confident in todays Tech Companies even if the valuation seems stretc
Being anticompetitive. One thing i will mention is this will be happening virtually, so there is less of a chance of an unscripted moment where someone might be caught off guard that might be particularly revealing. We are expecting the Committee Members to make their Opening Statements and in this order we will hear from amazon ceo jeff bezos, alphabet ceo consumed our andai, apple ceo tim cook, facebook ceo Mark Zuckerberg. Then each of the lawmakers will have five and its to question anyone. There will be safety in numbers. We are expecting this to go for several hours. There might not be a ton of substance given that they can only scratch the surface. Mark zuckerberg will be playing up the threat of china. He has said this before that regulation of big u. S. Tech companies will give Chinese Companies an advantage. Sundar pichai also paying up competition from other search engines, but also search composition on search competition on travel sites. Tim cook will talk about the opport
Vacation go when they cant leave the house . Nowhere just sleeping in and hanging out with the family. You look over, 3 50, those losers are up. Is this me this is me. Good. I finally rattled you. Difficult to you i rattled you watch the silliness. We are hearing a lot of things sharing you were twerking, i figured i better get back quickly. Nobody wants to see that. You cant unsee that u. S. Equity futures at this hour, lets tell you quickly things are down for the markets. The biggest decliner is the nasdaq no surprise because of the hearings happening today for the big four the nasdaq off 1. 257 . The s p indicated up by 9. 5. There is so much happening today. Well hear from boeing General Motors General Electric and others before the bell. We are keeping a look at whats happening from the treasury yield this morning the fed conference the 10year at 0. 589 . Andrew is going to tell us about one of the big things we are watching today the big one, the nasdaq will be an historic heari