, tripleheader line up this morning, people who were in the make the newsg and eliminated it for us. Business tech, media, politics, our events follow the same format. They are quick and we start with what happens and why it matters. Thats the formula you always get in the axios stream when you go on axios. Com. Every story starts as one phone screen, and in that whats new, whats happening, white matters why it matters to make you smarter faster. Id like to thank my axios events colleagues for pulling together this fantastic event. Thank all of you for being here. Were going to start. We have three guests today, and our first guest this morning who has seen 35 addresses to congress, or states of the union. Representative from the Fifth District Prince Georges County maryland House Democratic whip congressman steny hoyer. What an honor. Thank you so much. Thank you, mike. [applause] so we were just talking with sen. Collins stage. 3536 state of the Union Addresses to congress. He was di
Stocks are performing right now. Lets begin with u. S. Equities. We have seen a little bit of a selloff today. S p 500 lower by 4 10 of a percent. Olivia we did get a secondquarter gdp report this morning. A little bit weaker than economist forecasted but there was an upgrade to the First Quarter. That is having a little bit of an impact on the treasury market. We will show you the yields on the short end by two or three basis points. People buying the long end of the curve there. The dollar index up about by one half of 1 . Trading at a fourmonth high on signs of the u. S. Economy. I think the recovery is continuing to affirm. Pimm economy did not contract. Lets take a look at some of the top headlines at this hour. The u. S. Economy gaining strength in the second quarter. Gdp rose to 2. 3 . That is slightly less than economist had expected but at the same time the Commerce Department to revise the First Quarter results higher and set of contracting. The economy grew 6 10 of a percent
European markets are well underway and as he has pointed out a number of times they have been of late for our own markets and there they are up across the board. Not bad actually. No, our futures being down is a function of idiocy. Idiocy how about the ten year note yield were right around 210. Yesterday. And also we know if you buy the banks you get some leadership rally and oil goes to 42 they still have no place to put it which is incredible given the fact that at one point we would be in a state of emergency but instead were in a state of glut youre going to pushing and theres not enough people in the refineries they get far earlier than people think. At the same time oil has to come down because its in storage and those that want to ship that oil will get it to the market somehow. The president said to speak on taxes later today. Expected to call the u. S. Economy quote rigged or at least the tax system plus its official warren buffet now the largest shareholder in bank of america
To consider who we are as a people. Please bless all our citizens and those who would be citizens with generosity and discernment, that the National Discourse would be a wonder for the world to see and not a time of everwidening divisions. For the members of this wisdom house, we ask and patience that they might Work Together and through the differences that are all too familiar to a new vision of those qualities that might bring us together as one people. Finally, we ask your blessing on the people of texas, puerto rico, the Virgin Islands, california, oregon, washington and montana, all who suffer the ravages of extreme Natural Disasters. Comfort them and strengthen those who labor to bring relief to their hardships. May all that is done this day be for your greater honor and glory. Men. The speaker pro tempore the chair has examined the journal of the last days proceedings and announces to the house his approval thereof. Pursuant to clause 1 of rule 1 the journal stands approved. Fo
President trumps closest advisers say Jerome Powell or john taylor is the lead candidate. Sunday wouldn on be a show of support to escape from 20 lost years. Another body blow to corporate japan, nissan slumping after unauthorized inspections. Lets have a look, big slide down the, nearly 2 hang seng. Why . , 66 40,ok at this chart the secondbiggest fall this year, the biggest was august 11. It is still above that 50 day moving average. Traders have other reasons for , surging hong kong interbank rates, concerns about chinas deleveraging, and derivatives played a part too, some bearish investors looking bulls. Uses to kill the aidi. Get to h haidi an interesting note from Morgan Stanley suggesting we are about to see a revival when it. Omes to a shares they see chinese Equity Holdings 7 7 trillion. It is a direct correlation of this deleveraging campaign, and that money will come back into chinese equities. Lets look at how markets are faring ahead of that japanese election. Shinzo abe