For shinzo abe. The pound is big today. We are up by 1 . Governor of the bank of england indicating we are going to see the possibility of negative rates. We are, as you can see, seeing a big bid for the yen as well. Dollar is down. Stoxx 600 is low. S p absolutely flat. Kailey i want to bring you news. Mgm resorts, the casino operator, is cutting 18,000 jobs. That cut impacts over one quarter of its u. S. Workforce. It has been a hard time for casinos during this pandemic. Mgm operates not just in the u. S. , the las vegas strip, but also in macau. All macau travel was shut down, they have yet to catch up. Las vegas market makes up half its revenue. Mgm cutting 18,000 jobs. At the moment, the stock is higher by about 4 . Guy back to that story relating to the bank of england. Governor Andy Beshear Lee says there is plenty of room for more monetary stimulus. He spoke at the feds virtual jackson hole event earlier. He talked about what is in the box. We are not out of firepower by any m
Harvesting. Have you gotten your ballot . Are you going to sign it . If you want, i will sign it. Here it is, get out of here. That is the most honest way of doing it, and that is unfair. Now they are taking all of that enthusiasm that our party has, and we have tremendous enthusiasm. I think we have record enthusiasm. [applause] whiche a base alexa nobody has ever seen including these people, wall street journal, fantastic story this weekend, fantastic cover story on the base, an incredible base. Everyone here will vote. We have a tremendous base. They dont. They have no enthusiasm for their candidate. Bernie, they had more enthusiasm for him. Bernie sanders, he is the greatest loser i have ever seen. This guy can lose and be so happy. [laughter] Hillary Clinton, i want to use nice language. I dont want to use a certain word but it starts with sc they will say he used foul language. Bernie sanders got taken advantage of by Hillary Clinton. Worse. By the democrats this time. Warren,as,
Index climbing sharply higher. In the month of august, the cyclicals are leading the way on the year. It is all about tax. It is all about tech. Interesting to see how the month of august plays out. Right now a sleepy summer day. Taylor it does not look like it will be sleepily for much longer. August goes quickly. It is a volatile month. We are in an election year. Abigail it is interesting because there are lots of reasons to think we could have a volatility spike, including the fact we are in the seasonally higher volatility time, august, september, october. The vix curve speaks to a big spike in october. The panic index is at levels close to where it was prior to the selloff in february and the selloff in 2018. The fundamental backdrop for this is despite the fact we have a better initial jobless claim today, which is excellent, but it is still extraordinarily high. It is not even put the financial crisis you cannot see the numbers around the financial crisis relative to where we a
It did not shy away from staying there. The dollar continues to be weaker at 93. 20. A strong british sterling. 1. 3082. In euro also a little stronger. Crude oil at 42. 20. A rare glimpse into the Research Division at bridgewater. Our next guest overseas a team of over 150 at one of the largest hedge funds. We are in a new era of policy. Kareng us now is karnioltambour of bridgewater has 100 60which billion in institutional investments. World . Isn np3 karen as the world changes, investment need to change with it. Interest rates were the primary driver of fed cycles. The fed lowered and raised Interest Rates, and that was the most important thing to drive the economic cycle. Then we got to the financial crisis, and quantitative easing became the most important lever. But at the end of the day, you can print all you want but the Federal Reserve doesnt have the mandate to figure out who will get the money. A lot of money went to Financial Assets and not the real economy. Andworld is cha
To the likes of boeing. 3 . Asdaq is down microsoft down half a percent. Several stocks rallying big, mgm resorts up 13 after the onlinestake for gaming portion. Twitter is up as well. They are in the mix to buy tiktoks u. S. Operations. Action overump took the weekend to extend economic aid, diverting disaster money to boost unemployment and payroll taxes for some workers. Executiven what to orders mean for the markets and the population, we are joined by wealthwise financial ceo loreen gilbert. What thoughts come into your head when you see these executive orders that may or may not even go into effect . For investors, it gives us a level of comfort that they will be ongoing support for our economy. We know we are not out of the woods yet. For those millions of people who are unemployed, having that extended unemployment benefit will keep consumers being able to spend. That is positive for the economy. While congress is trying to fight it out on what that stimulus package will look l