Just facebook at all. Lets dive into all the action. Abigail im taking a look at the dollar. A steepe, the dollar in decline. A spike we saw a bit of higher for the bloomberg dollar index. Up 1 10 of 1 . We do see overall an uptrend for the dollar index. The dollar bulls are in charge. On the recent weakness, all down in the 200 day moving average. It is not clear if that support will hold or if we will go down to 97. Right now, the bloomberg dollar index and the dollar index trying to hang on. Renita right back to earnings, looking at mcdonalds. Shares that the lowest since june on disappointing earnings. The chain is still struggling to pull more customers in its stores in the u. S. Mcdonalds gets more than a third of its revenue from the u. S. , where it has been have a hard time bringing more diners in, especially during the morning hours. Fierce fast food competition pulling customers away. Competition continues to heat up. Been heavily investing in technology. License plate scann
Cautious, they will move out of less liquid risk assets such as oil first. We are seeing it here for the official correction in seven days for oil. As for that ism print and why investors may be so concerned that could be bearish for stocks and they selling stocks are rapidly, take a look at this chart in the bloomberg going back five years. In blue, the s p 500, the eisai manufacturing. We are seeing it as the weakest since 2016. Stocks levitating toward those alltime highs. Not able to move past. Take a look at manufacturing. The lowest level in 10 years. Investors may think there is going to be a meeting between these lines, which could be bearish for stocks. Some investors betting on the idea of 2700. All sectors and most stocks are joining in. Lets take a look at some of the biggest laggards on the day. We will see apple, alphabetic, highquality names being sold off. Also the materials and industrial space. Confirming all of this, and is for haven bonds. For haven bonds. The yenyi
Got to cut again. Lets dive deeper into the action. . Bigail, what were you watching this we take a look at oneyear chart of the s p 500. All the volatility over the last 12 months. More recently going above it just a little bit. Two the index is having a hard time. Another whipsaw back down into the range. Taylor it was outperforming the Broader Market by more than a percentage point. We have had no trade news today. No news is good news. The index has been so sensitive. Thented to look at some of individual stocks. Here in the terminal chart that i am showing terminal customers, the index in blue and creating a divergence here. Analysts are really wondering where the stocks come down for dram. In the case of micron, credit suisse, could have a bottoming out cycle. Micron gets a lot of revenue from dram memory chips. Renita i am closing it out looking at the u. S. Dollar climbing as global fears intensify. Weaker than expected euro zone manufacturing data started to renew concerns. Th
The play was just extraordinary. Alix that was the winning moment at the end of the whole game. David and he didnt get up. Alix i do not blame him. The real action is going to be looking at the dollar, kind of around a two week low. Other than that, steady as she goes. The 10 year yield back by about three basis points. Crude, if itnt out is policy steady as she goes, that means more saudi production cuts. Crews wanting to kiss that 60 for crudeg wanting to kiss that six together level, waiting for toio draghi crude wanting kiss that 60 level, waiting for mario draghi. We begin with china, where the country faces and import and export deceleration in the month of august. Bloombergs enda curran has more. Just how bad was it . Pretty bad because economists were expecting exports would have grown. We had a contraction of 1. 1 , and there was evidence of a big slump in shipments to the u. S. , even as exports to europe grew, so it was clear the trade war affected all of that. The big fear
Faces its first right with the packers deciding how much to uaw in years. Admit the next investment caroline abigail, what are you vehicle after a bet on we work sours. Watching . Abigail crude oil, today, that romaine todays top story. Saudi aramco growing a little the best that surge, bit less optimistic that there will be a rapid recovery since day in about a decade. There have technical difficulty the weekends attacks. Says itretarygeneral so i will pass to you, renita. Renita is huge jump in crude is too early to consider a oil today. Possible production increase. Oil, corn,ing crude he spoke exclusively earlier today with bloomberg. A collective, as well as sugar. Raw sugar futures climbed more than 1 . Decision of not only opec but corn since 95 g. He opec plus of it is ethanol produced by corn. Index is as energy a template on what would be done and when. More than 3 on the day. Romaine joining us now for more thesefluencing analysis is Cornerstone Macro Agricultural Commoditie