Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
A whole bunch of other smart people set lower for longer. That is the message this morning. Futures up 19 but to me, the story is the bond market. As you know, those huge negative and persistent real yields. A range of assets and securities, it is interesting to see dollaryen breakdown. Still, equities are firmer on the day, futures up by 6 10 of 1 . We do this going into a battle down in washington, d. C. As long as it is just about size, we will have an agreement. These negotiations are now about thats great, but that means there is a timeline and i dont believe we have the luxury of a timeline because in the state of ,he economy, the unemployment the economic dynamics dont give you a comfortable august. Dont. Incentive to say we not negotiating until you negotiate. Right now, looks like new market is not picking up on it. There are some real nuances, maybe start off gold. Treasury yields down a basis point. Weve broken out of that sticky range for 0. 58 . The lows very much insight
Of our native communities. As part of our hearing, microphones will be set on mute. Members and witnesses, you will need to unmute your microphone each time you wish to speak. Documents can be sent to rebecca at the email address weve provided. And all documents will be entered into the record at the conclusion of the hearing. I recognize myself for five minutes for an opening statement. Let me find that, now that ive said that. I believe that todays hearing is long overdue. Day after day, our nations tribal communities are suffering inequality, unequal access to Drinking Water, energy grid, broadband, and other problems that have created unnecessary hardship and turmoil. And covid19 is exacerbating the existing problems now. And the Navajo Nation has seen rates higher than wuhan, china, during the height of the pandemic. And weve heard repeatedly about the struggles of the native communities to protect against covid19. As the pandemic rages on, access to ppe and testing and proper san
H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da
Death by a 5th while Oxford University professor Martin Landry coleading the trial said this is a result that shows that if patients who have coma 19 are on ventilators or on oxygen are given dexamethasone it will save lives and it will do so at a remarkably low cost coleader investigator peter or be added its a major breakthrough doc some of the sound is inexpensive on the shelf and can be used immediately to save lives worldwide meanwhile stocks also jumped off of the u. S. Commerce Department Released data on Consumer Spending for the month of may after 2 consecutive months of record drops retail sales posted a record 17. 7 percent thats more than double previous 8. 4 percent estimates well in march it plunged by 8. 3 percent and in april by 14 point 7 percent retail sales make up nearly half of all Consumer Spending and almost 70 percent of u. S. G. D. P. Last year im. Can spent 14. 00 trillion dollars well for more we are joined by a tauriel director at the American Institute for