From twitter and i want to talk about chasing stock splits with marks and king so i see them in my headlines today so i figure ill name check them and talk about them 1st up we have a tweet here that says Robin Hood Schwab outages last week linked directly to tesla and apple split the money els and generations ear on their robinhood apps and their schwab apps and theyre chasing these stocks splits max well you know i predicted that would there would be a problem just like the millennium bug or if a member back in year 2000 there was a lot of fear that the Computer Systems would be able to handle a double 0 of the year 2000 and that proved to be not the case but in this case there was a problem in terms of the stock splits there were these robin hood apps and apples already lost traded stock out there and so it split and so the the back ends of these systems couldnt handle it so. You know they sorted out the a lot of misinformation of amongst these new trader things robin and traders i
That the recovery will be as strong as possible and to limit lasting damage to the economy. In recent months Economic Activity picked up as the economy began to rope. Many businesses opened their doors. Factories restarted production and many left their homes to engage in various activities. As a result Household Spending looks to have recovered about half of its earlier decline although spending for services such as air travel and hotels has shown much less of a pickup he recovery in Household Spending owes to benefits which provided substantial and timely support to household incomes. In contrast, indicators of businessfixeded investment have yet to show a recovery. Even with the improved Economic News in may and june, overall activity remains well below its level before the pandemic. The contraction in g. D. P. Will likely be the largest on record. The labor market has followed a similar pattern. After drops in march and april, employment rose strongly in may an june as many returne
The ecb today likely in some time,ust merely to mark there may be some tweaks in terms of determining will it have an impact, but it will not be major. The ecb is waiting for more data. The ecb is also waiting for meetingnd the council which will determine this rescue plan, 750 billion euro rescue plan, and everybody is waiting to see what happens there. Yousef a medical meeting today tom medical meeting today, first do no harm. Right now with first word news in new york city come here is ritika gupta. Ritika President Trump is shaking up his struggling reelection campaign, replacing manager brad pascal. Pascal has been under fire for some time, coming less than a month after the residents sparsely attended rally in tulsa. The twitter accounts of some of the most prominent american political and Business Leaders have been hacked, amongst them, barack obama, joe biden, elon musk, jeff bezos, and warren buffett, an apparent attempts to promote a bitcoin scam, sending out tweets promising
The market, its the same as yesterday, the markets churning with gold moving higher. But you are right, we have seen a bounceback to green on the screen after the navarro flap. Its clear, its a market in search of a story in the line, maybe we can find a story from philip. Francine we will talk about runaway inflation with him shortly. Lets get to first word news. President trump calmed that the phaseng one agreement is fully intact. Peter navarro said that aspect of the trade deals were over on fox news, and he said his comments were taken wildly out of context. Mike pence is warning that more young people around the country are testing positive for the coronavirus. Making their mark in a Conference Call with governors. Concerned byed Texas Governor greg abbott. The infectionat rate is rising. Boris latest stage in johns Boris Johnson announcing the latest age in lifting the coronavirus locked down. Movie theaters and museums may open the door after next month and he may also cut the
Handle on the vix. Towas really extraordinary just sit there and observe the turn in the markets yesterday. It continues this morning. Surprise, in an election year, we are thinking about infrastructure. A 1 trillion infrastructure on deck, according to reporting in washington, d. C. This shouldnt shock anyone. Tom not at all. As i said earlier, everybody tunes into you. They dont tune into me earlier. I get that. But to the people out there, it is a bridge to nowhere in kentucky, a bridge to nowhere in San Francisco for speaker pelosi. I guess the president can put a bridge to nowhere in florida. It is all about politics. You just say to yourself, why cant this happen . Why cant this get done . I dont have a straight answer. Jonathan i dont have a straight answer either. They are not here for me, tom. They are here for lisa. Lets talk about the data. Retail sales on deck. A series of upside surprises in the United States weve had in the Economic Data for much of the last month. Lisa y