Now, the s p 500 up 15 were just about 30 important off the session lows the nasdaq adding 20 on the sex. All three, by the way, on track to snap four week losing streak. Kelly . Mellissa, thanks august has been the rough month for the marks, the s p down more than 3 what needs to happen bob pisani is looking for the roadmap for the bulls. Maybe we needer it to be september. Thats what i want. The bulls cant wait to get out of august. Theyre hope for more stable Global Economic data, number one theyre hoping for more help from central bank easing and theyre hoping, most importantly, no radical downward revisions. Earnings estimates for the third and the Fourth Quarter earnings are the key here. So far other than notable energy and materials flatish remains the buzz words in 20 fine. But the bear versus plenty of am fix, too trade wars are hurting growth and earnings prospects that are out there. We seen lower yields thats submerge as the new worry overall, traders are freting Central B
Buy in the space how can that be . Well tell you as power lunch begins right now and welcome to power lunch. Im melissa lee. Stocks taking a breather today after yesterdays more than 1 gains, all three of the major indices are lower with the s p and dow on track to snap the threeday rally since last weeks big drop. Fractional losses across the board. Check out the transports theyre sinking further into correction territory American Airlines, the biggest drag there that stock is now down 16 for the month of august. Well have much more on that move later on. Ty we begin at the white house President Trump to meet with the president of romania while the economy is front and center for the president and the administration and eamon javers has the story for us now thats right. Were going to see the president of the United States in the oval office here in just a short time the president will have the opportunity to talk about the end of the 30th anniversary of the end of communism in romania
Before the open this morning along with twitter overnight in asia, you will see what was happening there the nikkei ended down by almost half a percentage point. Hang seng was down by 0. 7 shanghai in china, you did see stocks higher. Up by a quarter percentage point. In europe, the three major averages had all been in the green. The dax up by 0. 3 the cac up by 0. 4 the ftse up by more than that. Italy and spain stocks there weaker spain down by 0. 7 in the treasury market, again with the gdp number coming up later this morning at 8 30 the tenyear yielding 2. 069 everything that happened with the ecb yesterday what that means for the fed, well talk about all that coming up in a bit. On the squawk planner, we have first look at gdp in the Second Quarter thats on tap. Forecasters expecting an increase of 1. 8 after a surge of 3. 1 in the First Quarter on the calendar we will hear from twitter, mcdonalds before the opening bell next week it gets crazy. It is the busiest week of earnings
Wildfires. Only 3 of the disaster has even been searched. The governor calling it A Fire Hurricane that spread faster than a mile a minute. Now a new lawsuit gets the states main electric provider. Hours from now the District Attorney set to begin presenting her case to a grand jury in the Georgia Election subversion case. This means a potential fourth indictment looms over former President Trump. Cnn learns about key evidence obtained by prosecutors. And a home explodes outside of pittsburgh. Gas systems were operating as designed, according to officials. It could take months or years to figure out why. The raid of a newspaper Head Quarters in kansas is raising serious concerns over First Amendment rights. Police seizing everything. Also the lapd says a mob of people stole 100,000 worth of merchandise during a daytime robbery. Well show you what was caught on camera. Cnn this morning starts right now. Good morning, thank you for joining us. Theres a lot of news, but were starting with
High pressure systems to the north. What it is doing is putting the squeeze on the Hawaiian Islands and allowing those winds out of the east to gust. We just checked, over 40 Miles Per Hour in some of those locations. That is going to complicate fire efforts. Look at the aerial video that you are seeing on your screens right now. This is imperative. The fire that impacted the west side of maui, the location, the economic hub of hawaii where all the resorts and businesses are generally located, where people go as tourists to visit, well, the fire ran out of room to burn. It literally moving into the ocean as it had nothing else to char. It was incredibly harrowing. Adjectives use like dyer and apocalyptic. You can see exactly why with some of these first aerial visuals that we are getting. Now, everyone in hawaii knows how to handle a hurricane. Everyone knows how to handle volcano as well. As difficult as it can be. This caught people off guard. As a meteorologist, we were watching Hur