Places. Watch American History tv tonight and over the weekend on cspan3. Up next, Federal Reserve chair Jerome Powell talks about the u. S. Economy and his agencys response to the coronavirus pandemic at a Virtual Event hosted by princeton university. Okay. Hello, everybody. I now have the signal that the technology is working. Fortunately nobody would put that in my domain. I dont take any responsibility for that. Im professor of economics and Public Affairs here at princeton university. Thank you for joining us on this special reunion event with Federal Reserve chair jer powell. Sponsored by princetons griz wald center. Were happy to have many members of chairman powells classmates on the princeton class of 1975 on the zoom. Just one quick logistical note, if you have a question, youre welcome to submit it any time you want using the q a feature of zoom which youll find at the bottom of your zoom window. It tez q a. You may also upload questions that youd like to see answered and we
Manipulator. China has been taking steps to shore up the movement. Stocks in europe flat. They were lower early on. Scene to be stabling. Less of aa little bit move then yesterday. Excellence. En par view ofp, we get the Anthony Scaramucci. We will ask him about markets and the Trump Administration at 5 30 p. M. London time. The new york city, here is viviana hurtado. Viviana the yield on benchmark 10 year treasuries falling earlier to a level not seen since before the 2016 president ial election. Recession signals flashing. The spread between threemonth bills and the 10 year yield has seen the most extreme inversion since the lead up to the 2008 crisis. Donald trump delivering his most forceful condemnation of racism and White Supremacy following the Mass Shootings over the weekend that killed more than 30 people. The president did not call for new restrictions on gun ownership, instead blaming the attack on Mental Illness, video games and other cultural depictions of violence. We mus
Let us quickly check on the markets. Quite a lot going on. I am looking at the stoxx 600 in europe which is gaining a touch on the backs of gains in Energy Companies and a bullish outlook from one of the sectors bellwether. Looking at the dollar. And the fed and what we will hear from powell. Therude oil including impact of the opec meeting. We need to wait a little more to see how long we will cut production. A lineup our lineup today is looking pretty good. We feature some of the top names in banking and economics including Tidjane Thiam. We speak strategy and outlook on the Global Economy. And jim oneill. He speaks u. K. And emerging markets. Later, we will also speak with John Studzinski from blackstone. Let us get straight to the bloomberg first word news. Nejra in the u. S. , the Senate Tax Bill is headed for a debate. Should it pass, Republican Leaders will have to hammer out a compromise. Two republican members of the senate what your say they may not agree to vote the measure
Gains of the day two weeks ago the dow hit 25,000 for the first time now lets get to bob pisani on the floor. I want to point out the dow is price weighted, the biggest prigs stocks te price stocks tend to move the index. Let me show you the five dow stocks that contributed most this is a 1,000 point gain from 25,000 to 26,000 boeing is 34 of the gain. One stock is a third of the gain caterpillar, united health, home depot, 3m. Eight of the highest priced stocks in the dow. Put it together, 60 of the dows gains from 25 to 26 were five companies five out of 30 companies here. What is more interesting is the days to the rally are getting small eastern smaller. Each 1,000 point increment is getting small eastern smaller. Look, it took 109 to go from 21 to 22,000. After that, 53 dpays to go to te next 1,000, 23 days, 7 days. You get the point. This is more than just easier to hit the target this is definitely an acceleration it is euphoria, some people say it is. But its an acceleration th
Federal reserve governor Jerome Powell will be the one to get the nod to replace janet yellen, who actually was up for it. There is a mystery here, why replace janet yellen with basically what many experts see as her identical twin when it comes to the pace, you cant be if youre a guy, fraternal twin when it comes to the pace of Interest Rate hikes . Powell in lockstep with janet yellen on just about anything. What dont we been him that makes him President Trumps number one choice . Powell would be by the way the first fed chair in four decades without an advanced degree in economics. No ph. D. Either. He is a princeton grad, law degree from georgetown and wealthiest Federal Reserve chair since 1948 with a career spanning from wall street to washington. Hes been a fed governor since 2012, a former assistant treasury secretary i believe under Nicholas Brady and former partner at private equity firm the carlyle group. Charlie gasparino in the newsroom, way out in front of the fed chair s