Lets call it 2600 on the dow jones. The hundred on the russell 2000. 1500 on the russell 2000. Caroline volumes down. Lets get a deep dive. Mike i am watching the bloomberg agricultural sub index. A rebound over the summer in commodities has basically completely faded, and that leaves this index new the lowest it has been. As we gauge inflation, districts very well with this tracks very well with bond yields. Corn and soybean. Obviously, the trade tensions with china is hurting crop prices. But there is another thing, the epa decided to give 31 refineries exemption from biofuel acquirements. This is pitting the Energy Department and epa against the Agricultural Sector of the economy. Bloomberg is reporting that there was a meeting today to try to figure out ways to boost ethanol demand. It is not clear that any of these measures will be taken in force. Abigail with stocks trading lower, it is not a surprise it was a risk off day. Bond futures are higher, gold futures, and japanese yen
The 10 year yield, a 40 basis point move in just a few sessions. Bonds surge today. Is rapidlyread sinking. The yen stronger once again today, trading right now at 10 5. 78. Guy during the asian session, Central Banks disappearing several surprises. New zealand, india, thailand all delivering bigger than expect it rate cuts to shore up their economies against mounting u. S. China trade tension. We are joined by viraj patel, arkera fx and global macro strategist. What are we seeing at the moment . Are we seeing Central Banks trying to deal with the trade narrative . Why are these Central Banks doing what they are doing at the moment . Are they worried about their currencies . Give us your sense. Raj one, the Global Economy is in a slowing down stage. Theop of that, youve got shock adding fuel to the fire, and there seems to be this race to the bottom with Interest Rates and currencies. It is sort of every man for themselves right now in terms of Central Banks. I think most people are lo
Leading hong kong newspaper that american trade negotiators will fight to basing beijing for talks later this week took the dow jones about 200 points away from alltime high, up about 50 at the open. S p below 3000, but the nasdaq nice gain about a half a percentage point up for the nasdaq composite. Chuck schumer went to the border and said this is heart wrenching. This has to end it now. He didnt offer a solution. President trump once a border crisis meeting with him. Mike pompeos tells fox the Mexican Government has made a commitment to getting numbers down but aoc says we need a 911 Style Commission to get rid of the department of Homeland Security. Iran seized a British Oil Tanker in the golf, america restrained no retaliation. The price is around 56 a barrel and if it wasnt for american production price would have spiked to 100 or more. Hong kong, real violence. Fights on the subway as men thought to be attached to beijing attack protesters and members of the media. Beijing gover
President trump threatens further tariffs on chinese imports. Pres. Trump we have a long way to go. Another 325 billion we can put a tariff on if we want. China and ang about deal. I wish they did not break the deal we had. Anna ursula von der leyen clinches the eu top job. We have issues, but we should never forget we are allies with the u. S. And we are friends. We sit on the same side of the table. Anna plus, asml forecasts sales trade tensions hammer the but dialogue semibeat expectations. Plenty talk about plenty to talk about. Good morning. Matt u. S. Tenyear debt approaches, once again, dipping down into negative real rate. Andsee that across europe the u. K. Already. Even nominal rates in germany are negative out for 20 years. This is becoming a global issue. Interesting to watch central bankers continue to talk about cuts. Down even drive rates further. Leaving more of the World Holding paper. Governmentsgood for if they would borrow and spend. Take a look at futures this morn
The answer, unfortunately, is the very culprit caught in a u. S. China tugofwar right now. Details on what can boost chinas productivity and whether they could gain access to it september 1st is when drug Price Reductions are set to take effect and one of our guests says it will make the entire largecap pharma space vulnerable and it will hit five names first. We have those details ahead. If thats not enough, dom chu has a look at the market you and i have been up very early and we are still upright right now and kelly, if you look at the board behind me, youll see things havent change a lot from when we were on in squawk box this morning, but we have seen an acceleration in the Technology Trade well get whats driving that sentiment in a couple of minutes here and the dow industrials are just about flat on the session and thats pretty much unchanged. The s p 500 is up 18 points and onehalf of 1 and 18 points at the highs of the day we were up roughly 22 points there and down 11 at the