Gold going back higher as the dollar is lower. Some of the trends we have seen more in place recently are still in place today. Investors are waiting. David we will also get some q2 gdp numbers. I will ask you about gold because it was a big story yesterday. But i have to tie into the dollar. What is the dollar doing . Abigail the dollar is down. The dollar index itself is about flat. The difference is in the euro weighting. The trend on the euro has been down but so much so that we have Goldman Sachs saying perhaps it will lose its status as a reserve currency. In the past, sometimes it is a signal it could be stabilization or a move to the higher. That is supported by the technicals. Relative to the fed tomorrow, will they give any policy move . Very unlikely. They did extend their emergency loans, so that is probably the bigger news. The 10 year yield at this point has basically been flatlining since march. If anything, it appears its bias may be to the upside. That could support th
Hear from mike roman later on today, july has been very good i think you will continue to get a positive from housing, this horton number is the number people should be focusing on because it was stellar you will get a lot of people talking about how there is a lot of good news in anything involving personal fun, polaris, but just were just in such dim tidings when it comes to aero space thats what im focused on greg hayes, 2023, oh, my. You were just talking about that and then iata, the International Air transport association is saying 2024 for precovid traffic levels they also point out that airlines are adding capacity, jim, ahead of demand which is coming back slower than they thought. Personal travel, people want toful tra, we know that. Great Conference Call by American Express on friday about what people want to do, but the Business Travelers is where they make all the money and the Business Traveler is zooming they just arent going i dont know what its going to take to bring t
15,000. Take a look at the kospi. We are focused on samsung earnings. Samsung warning of a profit slide as this virus squeezes the tech industry. Samsung shares largely after the results came out unchanged. We are watching out for the singapore jobless numbers coming out this hour. 2. 6 , an 11 year high. We see this recovery momentum coming back in offshore chinese stocks. The moving average yesterday when things close, and we are higher here today. Bank of china among them. Dollaryen, a little strength. And some strength for the korean won. Oil remains the story, but take a look at volatility. When it comes to oil contracts, we are leapfrogging of june to july and seeing wild gyrations. We have bounced back after wti auched 10, but we lost quarter of the value when it comes to crude. It looks like volatility will continue. Into julywill roll with the spread of the june and july contracts especially for wti getting rocked by volatility. Tom we will get more on that story in a few minu
If you say things are okay, not as great, and youre an industrial, because there will be an opening of america, people will buy you if you say things are in line and you pull your forecast and youre not industrial, its a recipe to be sold. This is about hope its about the idea that it cant be as bad as it is right now. Youll see that even with marginal retailers, people think a marginal retail hear to come back because america is open listen, you have to go with the flow for a couple days if youre a trader if youre an investor you have to take the other side of this trade as we get closer to the opening. I think people will be surprised how little these businesses will do and how worse theyll do once we go open its not it is an opening other than auto builds wont occur. We have to be ready for that your general thinking is well get a ford plant reopening, vw doing it, boeing in South Carolina next week, but its going to be a manufacturing bounce yes more than a service bounce . Yes man
Amendment fight. The states have power to reopen. New york state Governor Andrew Cuomo will sue the white house there are two task forces. One on the northeast, one on the west coast, how do you see this playing out . I think they will all end up working together. I think the president wants to be able to share his vision of the appropriate timing. He has got a lot of real professionals working with him and i think the governors do really want to work side by side there may be discussions who is in charge of what. Reality is, look, timing on this, the timing on this recovery will be depending on science. It will be dependent on our ability to get back to work as soon as possible. The president has the right idea. We need to open up the economy as soon as possible but at the same time these governors, i think they feel the same way. Theyre going to want, theyre going to want us to respect the federalist, the federalism that has been a part of our country but most certainly i think this