Bloomberg television, starting at 9 00 p. M. Eastern. Along the gulf of mexico, the texaslouisiana border is reeling after hurricane laura unleashed a wide swath of destruction, with winds reaching 150 miles an hour after coming ashore. It is now churning over louisiana. It could lead to more than 15 billion in insured losses. One of the top talkers on wall street, meantime, news of wall street joining microsoft to make a joint bid for the social media sensation tiktok. Now aligned with oracle. For more, i want to get to scarlet fu in new york. A lot tied to these remarks from the fed. There was a lot of gyration in jay powells remarks. In the case of equities, the fed moved it higher. The dollar moving higher. Bonds falling. In no rush bank is to raise interest rates. It will let the job market run hotter and inflation run higher, potentially overshooting the 2 target, before taking any kind of action. In the end, we saw financials get a boost. They benefit from a higher yield and a s
Budget so we dont matter. Nightline starts right now with byron pitts. Families are selling their possessions, heading to food banks in droves. Last week more than 1. 2 million americans filing for unemployment, something needs to give, but for a divided congress, covid19 stimulus packages are a sore spot. Janai norman has the story. Reporter desiree didnt just lose one job, she lost three. A substitute teacher, she also worked as an actor and ran a Small Business doing Face Painting on the side. Ive had several people insultingly say well, youre supposed to have an emergency fund. Okay. I did. Orr he madthrgh into my on unemployment, in part helpe w federal aid. We have to pay electric, water, a mortgage, we have to pay that. Reporter i have to ask about the save the 600 sign in the back. This is both an emotional and mental and everything. Its anguish in writing, a cry for help. Reporter now, a week after that Emergency Assistance expired, lawmakers are still locked in a stalemate, d
The dow is up more than 3 good week for the s p 500 as well the best since early july. As we close out this week its right to point out as tyler just did were not that far away from record highs and that trajectory has been little rocky but its been, you can see to the upside. Just a couple percent away from the record highs that we saw prepandemic back in february as we take stock of the week, check out these particular sectors. They have been a focus for many traders and investors. Check out whats happening with industrial, communication services, internet related names and technology stocks. These three sectors have out performed the500 this week they are the more defensive, less economically sense tiitive names. Theyre all in the green but not as much as the market overall. Watch those as under performers. Can you believe it, tyler, its been two years since that famous or infamous elon musk tesla tweet about funding secured at 420 per share over two years, you can see a 277 gain. B
For many people to get through the crisis and an upswing will happen faster now than otherwise would have been the case the European Union has struck a deal on a 2 trillion dollar budget which includes Coronavirus Relief after some heated talks over the weekend straight ahead we analyzed the specifics and the state of affairs in the block and the u. S. Had its smallest single day increase in covert 19 cases in more than a week well take a look at the spread of the virus throughout the globe plus its another big week for earnings on wall street as lawmakers also are negotiating the next round of provirus stimulus well break down what this is doing to markets with a packed show today so lets dive right in. And after almost 5 days of fighting insults and battles between European Union leaders and the has to and its doric and massive stimulus plan has finally been agreed to the deal paves the way for the European Commission to raise billions of euros on Capital Markets on behalf of all 27
Not his first or last. He will share his story on making money. Charles so before we even start with todays session i want to glance back to friday in the market. We saw a rollercoaster. It was all about news out of d. C. , right . Remember it looked Like Congress would throw in the towel on any additional fiscal help. The rally faded big time. Then came word talks would continue over the weekend and the market actually soared. For me the most important part of that session was the volume. It was highest day of volume in the entire month of july. It was on a up day. That is a huge buy signal in my opinion. Want to bring in Disruptive Tech research founder, lou, moneymap press, their chief strategist, shah galani and erin gibbs of gibbs wealth management. Shah, your thoughts on this market. It is breaking out. The volume is getting stronger. I think that is the ultimate buy signal. Youre absolutely right and it was the buy signal coming off the lows in march. What people miss is that th