Xis impact is not good. The ceo ofak to siemens this morning. 6 00 in london, 9 00 a. M. In dubai. Theres lots of tentacles of risk that will boil through the day. Australia, new zealand, looking at extradition, but i love the story. You have to give attribution when somebody else finds a great story. It is about goldmans. We need to prepare ourselves for the risks that come over the election. They are talking about the year 2000. I was in a different world. Worried aboutmore secondctions thana whack of the coronavirus. It is interesting. You have got jp morgan saying the s p can hit another record. He says investors are mispricing both the virus risks and the election risks. Couldgan says the impact be neutral or positive. Aboutve goldman talking volatility picking up towards the end of the year. They talk more about december rather than november but it is pertinent for us to talk about it today because we have biden laying out his plans in pennsylvania later. That will bring the elec
Local drycleaner. How that industry is trying to get back on its feet it is wednesday, june 24 this is Worldwide Exchange here on cnbc good morning and welcome wherever in the world you may be watching here is how the markets and stock futures are setting up they are downright now about 186 points remember, futures at this hour can move around rapidly. Well keep checking in the question of the morning or month, quarter or year is whether stocks can continue their remarkable run the nasdaq their eighth session low. The dow up 19 up 31 on the nasdaq 100 just this quarter continuing to focus on technology and the runup to increased investor concentration to fewer and fewer names stocks like amazon, microsoft, google, facebook counting for 22 of the s p 500 total market cap that is the biggest, smallest slice in the history of the markets. The fewest Companies Account for the greatest weight in the history of the modern American Market four of those names are trading once again at alltime
The u. S. And china. Here to break down the Market Action is abigail doolittle. The macro news earlier this morning seemed to be about rising trade tensions between the u. S. And china, but then stocks mostly ending in the green. On thisgoing afternoon . Abigail a really sleepy day overall. You have traders not at their desks, checking out just a little early despite the fact that we have macro news. Plus, it is a repeat of last year. At the end of the day, mixed action. But unlike yesterday, we actually had tech closing higher. The nasdaq 100 higher 0. 4 . The chip sector got hit yesterday, rebounded today. Also indicates that traders are brushing off macro concerns. Where we are seeing those concerns play out our for the china adr, the new york thing index, because baidu and alibaba are in there. And the Golden Dragon china etf, down 4 for another day. That is comprised of Chinese Companies in the u. S. , the fear that these companies will be delisted. This is an interesting dynamic
You have these records stimulus plans being proposed and a pretty Bleak Outlook certainly by the ecbs madame lagarde, and yet, we see the fear of missing out trade in full force across equity markets. It just feels like if this fomo trade continues, how much does the pressure come on fiscal policy makers to continue these programs . Jonathan i completely agree. Right now. Ope italy rallying because of what europe is about to do, or what they are talking of doing, and germany not really backing up any big way. We had record issuance in the United States. What have treasury yields done . Not a whole lot. The market is wide open for these guys to do a whole lot more. Lisa yesterday, the Federal Reserve sold twoyear notes at ,he lowest ever yield of 0. 18 which brings us to what we are looking at today. You are seeing u. S. Treasuries selling another 45 billion of fiveyear notes. Also it to 00 p. M. , the fed is going to release its beige book also at 2 00 p. M. , the fed is going to relea
Rally and 30 points on the s p 500. There arent many things that story thanter the market rally in. Lisa you said it before, fiscal support, more fiscal support, lower rates. This is what is driving it. I wonder at what point fundamentals catchup because we are not seeing the Economic Data to justify this, and yet, people are looking forward to data they are expecting as we see reopening start to take hold. Clearly, what we see in the next few months is common sense sense, an economy that goes from shut down to reopening. You will get that month on month sequential improvement. July will look better than june. August will look better than july, if we can keep on reopening. Part two is the limit of the recovery, the limits of normalization, how dependent we are on a vaccine, on improvement from the science side to really adjust the limits of that normalization. I think at the moment, were focused on the sequential improvement. At some point, youve got to get your hands around the longer