Happened. The bears breathe a sigh of relief. But is it all over as soon as it started . The cash trade is just an hour away so lets see if this has legs. Here are your top headlines. With thes a big blow nasdaq down almost 5 . The s p severs it steepest drop since june. And suffers its deepest drop since june. Bill ackman tells market jitters the National Bank to challenge santander. So, a lot going on today, as well as german factory orders. They are now out. Ofth over month, the gain 2. 8 not nearly as much as a survey, which was 5 . Over the prior number, which was 27. 9 . Yearoveryear, its a drop of 7. 3 , which is worse than the survey drop of 6. 0 . And a slight improvement from 11. 3 on the prior numbers. So during factory orders german factory orders not shining light on this. Just under an hour away from the start of cash equity trading. Futures are down in europe. And remember, yesterday we were looking at gains on the dax of more than 1 . Then we closed losses of more than
Detecting new cyberattacks from russia, china and iraq election. The clock ticking away for tiktok. President trump says theyll be no extension for the sale of popular chinese app. Ceos calling on de blasio to crack down on crime. The dax index lower by 46, the uk economy rebounding. Gdp up 6. 6 in the month of july for uk. In uk green across the board. Best performers were in hong kong, japan and china all up 3 quarters of 1 . Now some of the top stories that we are watching this morning. President trump slamming joe bidens record on jobs saying the democratic nominee nearly killed the u. S. Auto industry during Campaign Rally in michigan. Joe biden supported the Transpacific Partnership which would have been death to auto jobs. I withdrew from the tpp, that was so easy. You wouldnt have been making cars, you would have been making cars from foreign lands. Dagen made in america platform in michigan that ensures penalty. Wild fires ravaging the west coast. 16 are still missing. County
Optimism. I profoundly accept this nomination for president of the United States. More highlights the complex reaction from trent 2020 National Press secretary. Also violent protest rocky wisconsin this week following the police shooting, American Cities are in chaos that there is hope later in the hour i will share with you some powerful messages from the arrest whose poised and formed all of us how to handle domestic strives and how to heal our nation faster. All of that and so much more on making money. Charles its interesting all morning has a latesummer feel but the upward bias is firmly intact as the nasdaq and s p continues the power to new highs on a daily basis and now its going to attempt to finish the session positive for 2020, one of the oldest actions on wall street is that new highs to get new highs, as this as investors get weakening from jay powell as Interest Rates are confirmed, that will not be a problem, in the meantime Economic Data continues to come in very strong
Notches a record close. We are up 162 points, much more than we needed. The s p up 15 points. The nasdaq up by 41. We are looking good right now. We will take all of this up with our floor show guys. Also coming up in just a few moments, weve got Philadelphia Fed president and ceo Patrick Parker who will sit down with Edward Lawrence to discuss his historic vote to change the feds inflation policies. The cleanup from hurricane laura in full force across the gulf coast as Power Companies work to turn the juice back on for folks down there. We are going to go live to lake charles, louisiana to get an update. And the one company is helping some of the biggest corporations in the nation return to work from the coronavirus pandemic in a safe and touchless manner. We will introduce you to the ceo of envoy. This is a fox business exclusive. Coming up, less than an hour to the closing bell and im Cheryl Casone in for liz claman. Lets start the claman countdown. Cheryl well, forget apple. Forge
Stuff. And it wasnt just americans who were in the situation but so too were our trading partners around the world. They didnt have enough income to buy all the commodities we were producing in our fields and all the wonderful things our factories were making. So by the end of the 1920s the American Economy went bust. You all know the stock market crashed in 1929 and the World Economy went bust as well, a worldwide economic depression set in that lasted between 1929 and wasnt officially over until 1942. What was called the Great Depression could be considered a crisis of abundance. It brought attention to purchasing power and in doing so it ended up politicizing consumption. We talked a lot about how consumer culture rose to be at the very center of american culture. And i keep telling you we need to consider politics, and today is the day we will think about how consumption became plit politicized. So heres a graphic that typifies the usual story that historians tell about the Great D