Last 400 days is we are finally on dollar support. We will talk about this through the show. On dxy, the blended dollar index , with strong euro contribution, we are really on the support of a signal to a weaker dollar. Jonathan it is the trait everyone would hope would develop it is the trade everyone was hoping would develop. We see that on the screen this morning. It is a tugofwar between pretty negative corporate guidance and the vaccine hopes that started yesterday evening. Lisa i would argue that the vaccine hopes are very much in the front of peoples mind this morning. The question of whether moderna can jack up production, as well as the Regulatory Approval they need to get this out and distributed. Meanwhile, more guidance from the big banks. Goldman reporting in about a half hours time. At 2 00 p. M. , the fed releases their july beige book. Some indication of how businesses are changing their expectations based on the resurgence in virus cases. Also today, opecplus meeting t
Good morning, everybody. Welcome to squawk box on cnbc. Im becky quick with joe kernen and Andrew Ross Sorkin well start with the markets after the dow fell for the first time in four sessions. Airlines, cruz and retailers all fell during yesterday sessions those have been the volatile stocks if you look at u. S. Equity futures this morning, youll see green arrows the dow indicated up by 28 points nasdaq up by 24 and s p up 4. 5 yesterday, the dow was down 170. During the course of the morning, we were watching the futures and up as much as 250 in the morning. Weve been keeping an eye what is happening with the treadsry markets. Right now, it looks like that 10year yield is just at 0. 71 andrew good morning. Thank you. United states pulling out of talks with europe to tax tech giants Steven Mnuchin saying international talks have hit an impasse and there wasnt even room for an interim deal it threatened retaliation if they move ahead with plans of their home a number of European Compan
As a result, there is another divergence. We may have risk stocks higher but we also have haven bonds and the yen higher. The japanese yen now up a fourth day in a row. It tells you not everybody is believing not just the rally today but the rally we have had in recent weeks. David in fairness, you cannot blame investors if they do not know exactly which way this is going. Thing started up a bit and then came down. Some of the stocks that have been beaten down came back. That is a big piece of the rally. One reason some strategists and traders do not like it in terms of the companies that had been january,y the virus in february, and march such as the Leisure Companies and the airlines, there has been a bounceback over last few weeks. Some say the rally off of the lows in march, there are holes. If you look at the s p 500, there is a huge move down from the peak to the trough. Now we are halfway back up. It is hard to know which side and what the greater risk is to the upside. Do not f
Moving news from all around the world from frankfurt, to london, taiwan, our bloomberg two iowa, our bloomberg voices are on the ground. Commodities leading the charge for the quarter. Here for more is bloombergs sonali basak. Income net interest coming in above analyst expectations is a great thing for bank of america because it shows the bank is doing what a bank should do. That is loan growing, deposits growing. Investment banking mergers and acquisition fell short than expectations, but we are seeing that across the board. We want to see confidence among corporate clients now that we know consumers are holding steady. Alix what were some of the worries through the quarter . Sonali the expenses were up, but bank of america was a costcutting story. Something we are hearing from all of the banks is the propensity to keep investing because the cycle is getting competitive at this moment. Alix thank you very much. Now i want to go to the latest on trade. President trump is ready to sign
Boise, potato ships . No, computer chips welcome to squawk alley. I am jon fortt with me at post nine, Morgan Brennan and david faber. Carl quintanilla hat morning off. Another busy morning in washington the house of representatives has another big vote on the trade front, expecting to pass usmca, the replacement for nafta, on the heels of approving two articles of impeachment against President Trump last night Kayla Tausche joins us with more reporter the vote will be a stark contrast to the Party Line Vote on impeachment. On the house floor on capitol hill, two hours of debate is beginning that will tee up a vote that white house officials expect to be a landslide bipartisan vote, thanks largely because of provisions folded in to win over House Democrats by Bob Lighthizer last hour on cnbc, the treasury secretary said it should be seen as a win for the economy, not a win for House Speaker nancy pelosi were going to get in excess of 50 basis points of additional growth in gdp as a res