Yes, that is a correction. The dow down only 5 or 6 . That is not a correction. Jonathan correction emits massive rally correction amidst a massive rally. Tom i will get you something from tiffany. Jonathan i look forward to that. Data coming later. Lisa i am very curious to see with the jobs picture will be. To toms point, this is not a fullblown recovery where people are looking at a risk on feel in the markets. We will get the july job openings data, which is the leading indicator for jobs growth. Selling 35, billion of 10year notes. Also today, congress is taking a look at the u. S. China economic and security review commission. Very interesting to hear what the bipartisan proposals could be about legislation to potentially penalize china for transgressions. I really want to emphasize the bipartisan aspect of this. Youve got President Trump coming out against tiktok and wechat, and former Vice President joe biden coming out today with a proposal to levy taxes on u. S. Companies tha
,ood morning on Bloomberg Radio good morning on Bloomberg Television as well. Interesting markets as well. We will talk about the market in a moment, whether you need to climb back on board. Lets get right to the yields right now. Yields a little bit higher here. That has proven to be lower prices, stronger yield just in the last hour. Jonathan yields up about a basis point on the 10 year, but yields have been all over the place. They havent really gone anywhere in the last week. Weve been in and around 70 basis points on the 10 year, and that is about where we are this morning. Tom we got a weve got to touch on tiffany. I know youve wondered over in london, and you need the tiffany china mugs for 200 pounds large. But they are not going to do it with lvmh. Jonathan i will take a pass on that. I will be spending less time there, thats for sure. The reason they are giving and the reason people are suggesting is around tariffs on french goods. It is not for me to say whether that has bee
Now. New data points to a sluggish economic recovery as payroll, points in the beige book shows a modest increase in activity. 59 minutes until the close were set to have another record highs for s p and nasdaq up 1. 2 on s p 500, sara its utilities leading the way higher for a change. Coming up on todays show, Galaxy Digital back to weigh in on the rally as it carries over into september were going to ask where hes putting money to work right now. Weve got an interesting mix of earnings coming your way after the bell, including work from home like cloud strike, those are hot, hot Cloud Companies Apparel Company pvh and well talk to manny tirico, calvin klein and Tommy Hilfiger mike santoli tracking Market Action as always Steve Liesman with new highlights from the feds beige book joining us to talk tesla and pullback were seeing is craig irwin from roth capital. Mike, start us off with the market every group is higher except for energy you do have utilities and real estate and health
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
It is the 32nd time this year the nasdaq has set a record close again. This morning, we are looking at a negative picture this morning, you are looking at red ar owes. S p indicated down by about 16 points everybody is waiting to see. At least right now, 10year looks like it is narrowing to 2. 5 jobs friday today. Forecasters will expect payroll to climb 1. 48 million after june gains shattered expectations a huge number this time around unemployment is expected to drop 10. 6 from 11. 1 from june well take you through 8 30 a. M. When those numbers actually hit. News breaking this morning for those of us in new york city who woke up and thought what just happened. Con edison investigating widespread outages. As an upper westsider, no power there. You lost power . A true black out. We are in 2020, what could go wrong . I looked around and thought, it is so dark what is going on is the nasdaq going to have power. What am i going to do . Here we are middown. You left connecticut to come to