Jon ferro has been calling it. Guy we are monitoring the stimulus story beat by beat. Nancy pelosi will be talking around 14 minutes. We are going to get a sense at that point whether or not we are making progress. That could certainly be market moving. We will bring you those headlines as soon as we get them. Lisa the white house has been pushing for a largescale deal again, off again, on again. Wants alosi says she more comprehensive fiscal bailout as a result of the pandemic. Emily wilkins joins us now with the latest. Emily if anyone is confused about where things are with the stimulus deal, you are not alone area Senate Majority leader Mitch Mcconnell said yesterday he was feeling some with lash some whiplash with all of the backandforth we have seen this week. House Speaker Nancy Pelosi is Still Holding out after months for a larger stimulus package. She and the white house negotiator, treasury secretary Steve Mnuchin, spoke by phone yesterday. It seems like there still could be
Calling on congress to help the American People just one more time. Will the Congress Listen . Mitt romney says he will vote almost guaranteeing new Supreme Court justice by election day. She blasts those using feminism to try to block President Trumps pick. All that and much more on making money. Charles well it is a tenuous start to the session today as vast improvement over mondays start. Remember yesterday, right . So invest doors they continue to grapple with a whole lot of unknowns. What happens with aid or potential aid from the federal government. Also the Federal Reserve. What happens with the election. What happens when covid19 cases increase in the fall . Meanwhile investors decided that growth names that have pulled back enough just now to become safe havens once again as tech sector was the only winner in yesterdays session. It is powering ahead along with communications services. So what happens next . I want to bring in bny mellon strategist, alicia levine. With blueprin
Treasury secretary Steve Mnuchin says the administration is working with congress on a spending package for National Coronavirus response. He testified before the house ways and Means Committee on President Trumps 2021 Budget Proposal and was asked about the governments response to the outbreak as well as its Economic Impact. We want to be able to take advantage of the opportunity this morning to give the secretary time for the give and take in the dialogue that were going tome brace here for the next couple of hours. To embrace here for the next couple of hours. Mr. Neal i think we can provide to the first issue so we can get to the chairman. It is of no controversy. So, first, let me call the ways and Means Committee to order. Good morning. Before turning to our hearing this morning. The committees annual budget on views and estimates for fiscal year 2021 in accordance with the requirements of section 301d of the congressional budget act of 1974. Members will find the letter in front
Highest since done already 2018. The market entering a bull market yesterday. People say that earnings will be enough to continue the rally moving forward. And we are watching the commodities space. Ron and steel the rallying. Steel output in china hit a record high. Close to 2 iron four in singapore. And we mentioned the bond story. We see yields taking the work we see this taking yields going lower once again, ahead of jay powell speaking in paris later today. The aussie 10year yields move. Point. Six basis in the july meeting, they said rates ind adjust australia, but it looks like they could take a positive or now. Yvonne that is the move we are seeing across the bond markets. That the see what else we are tracking. Some of your 10year yields, the hong kong dollar is stronger for the first time in seven days of breaking the seven day winning streak. Watch what hybrid does today, it has been falling. It comes out in about one hour. We are also watching. Oil prices, down. 25 . Yvonne
Investors and say it is a lowquality success. Talking trade again. To u. S. Team may have beijing for new facetoface negotiations if talks go well this week. Shery lets get you started with a quick check up on how markets closed on mondays session in the u. S. Ending slightly higher at record highs. We had a tech rally in the nasdaq gained. 2 . Energy sector and Financial Sector weighing on the s p 500, but aboved unchanged the 3000 level. We had citigroup of course reporting earnings. Theyre treating revenue their trading revenue missing estimates. Every member was under pressure in the session. Japan returning from a long weekend. What is the setup . Sophie nikkei futures in whileo trading flat contracts are falling in sydney and seoul. Gains, withresuming the nzx 50 attempting to breach the level again. The kiwi dollar is holding steady, holding onto the overnight gain as the Inflation Report reinforces the case for the rbnz to cut rates. On the central bank front, the rba polished