The chicago fed president australia heads into earnings season amid the worst recession in decades and a pandemic crippling the economy promises to be one of the most challenging periods on record. Shery u. S. Futures opening flat. This after they finish mixed on the friday session. We had u. S. Stocks falling with the s p 500 flat after five sessions of gains. We have escalating u. S. China tensions. Some positive data. We have the dollar inventing after u. S. July job dated beat estimates. The nasa composite was led lower. Composite was led lower. We had small caps leading the gains on those better than expected econumbers out of the u. S. Here is how oil is trading. We are seeing oil gaining ground above 41 a barrel with brent coming in around 44 a barrel. This after the biggest loss in a week. Not only u. S. And china tensions but the outlook for the u. S. Stimulus. They saw the biggest advance since early july. See some are going to of those uncertainties, the lack of a deadline w
Good to be back with you. You did mention very important piece, which is davids piece and hes a friend of the show. Talking last night i was reading it and thinking can we really go higher he has a piece that says we will blast higher that will be something that i think a lot of people would be suspect, little critical of because were going right into the election he doesnt seem to mind that davids work is high quality and i just really think that he is just saying, it is time. And wouldnt that be something if we have a big, big move here. Its fascinating. He does say, jim, as you point out, the election does remain a risk but 3,600 year end and 3,800 in 12 months is a 6 gain and earnings estimate, jim, for next year 170. I mean, i remember when they thought 150 might be a risk. I just have to tell you, i wish everyone could get goldmans research i was fortunate enough to get that piece because it is a very logical piece because how there are many parts of the economy that are good. Th
Three months 9 million jobs added after losing 22 million in march and april. Right my fear is that this may make it so that the negotiators for the package drag things out because things are better than expected so it looks like you could make a case lets be more considerate about this that would be bad because this number does not include a lot of reclosing, the biggest increase line item was bars bars and restaurants and we know that that backfired. So i intend to i think that its really important to keep the fire to the feet of these Congress People because, boy, i just dont think i think this is the last good one bloomberg is going with the headline that says the talks last night were rancorous and really no signs brink of collapse is one of the headlines out of bloomberg. Yeah. You dont think that the strength of jobs number today, jim, gives the democrats any incentive to blink ive been debating that all morning and i think that you heard you heard Speaker Pelosi on our show tha
An eye watering loss. Costsosses and rising mean bonuses are set to disappoint. We are seeing u. S. Futures flat. This, of course, after we had the regular session seeing record highs. At one point, topping the record reached in february before the pandemic. Every sector on the s p 500 was in the green. We have nikkei futures moving higher as we have the japanese yen under pressure. We have seen it fall against the u. S. Dollar for the past four sessions. Right now trading around the weakest in three weeks. In sydney, futures higher. We have the aussie dollar listed a little bit higher. We have a softer u. S. Dollar, not to mention higher commodity prices. We have kiwi stocks at the moment gaining ground after seeing the worst day in a month. This as we have rbnz expanding their qe program. Gains in the currency returns, commodity exports, unr holdings qnr holding steady. U. S. And chinese negotiators plan to discuss progress in the phase one trade deal. Pushing toset to be widen the a
Getting a little tiny speedbump as we headed to the final hours of trade, we are seeing a tiny bit of profittaking, nasdaq down 18 points but this is after the index with names to an alltime intraday high, maybe charles will be right if they get back up there. The dow and s p 500 continuing to trail along for global stimulus efforts, the dow at 281 but with a few days left on the clock, topper Administration Players are running a full court press in the halls of congress to follow in the footsteps of the European Union which reached in a historic covid stimulus to overnight. As we say on the countdown theres always trades to be made. The top stimulus stocks the floor show says can juice up your portfolio. Top redhanded, just hours ago the Justice Department making official, two Young Chinese hackers now formally accused of covid espionage. Attempting to steal research from the u. S. Biotech that are trying to rush to develop a vaccine. We have a fox business exclusive with the ceo biot