National security and tiktok says it is pure politics. And the official nomination of President Trump at the republican convention. He says his opponents want to steal the election. Haidi we have again u. S. ,arkets with fresh record highs a little relief given expectations of the fasttrack process when it comes to vaccines and therapeutics as well. The s p 500 notching another alltime high, there is optimism the virus will not hamper growth. We are seeing a muted session on it comes to the futures sessions, flat at the moment. Little negative when it comes to the start of trading in asia. The nikkei to do five trading in chicago seeing downside about 1 10 of 1 . Dollaryen holding. The biggest declines in the g10 space was the kiwi and looney. We are also watching the price of crude as we have twin storms approaching. 80 of refinery output in the gulf of mexico has been halted, potentially seeing some impact when it comes to crude prices, which did rise, gasoline hitting the five month
Ive taken this quarantine times to update a couple of bathrooms. Not. Light bulbs i have always wanted to be handy. These numbers are expected to be insane i did change a couple of light bulbs. They are all different so finding the right one for all the Different Things my wife has, it is not easy. I have changed a couple of them but thats about it. Rising to the challenge, im sure before we get those numbers from home depot, lets start with the overall markets. The s p 500 finished the session just shy of the high just shy, we are talking 4. 15 points away from the record it is sitting at at this point. 3,386. 15 is where it closed. The record from february is 3,393. 52 the record close of 2020 up another 1 to 11,129. Looking at record futures. Two dow components reporting home depot and walmart big numbers expected from both of those dow futures up by 64, nasdaq up by 40 and s p up by 7. Dow component reported 4. 02 a share. Consensus was 3. 71. I noted revenue gain was over 23 . Com
That this morning. There are people that have gloom, there are people in in the middle, and there is a sizable group saying forget about it, there is sizable momentum in the economy. We will have to see. Francine lets get straight to first word news in new york city with ritika gupta. Ritika President Donald Trump is moving to ban tiktok and we chat in the u. S. He signed executive order residents barring people from doing business with them. It does not amount to a broader ban of dealing with its owner, tencent. Tiktok says it is shocked by the order and will pursue all available remedies. The u. S. Is looking to tighten workinga president s group on Financial Markets is recommending the sec strengthen auditors, bout in hong kong, plans to offer free virus tests to all residents. The move reflects a boost in Testing Capacity with help from mainland china. There has been no headway between white house and democrats over new virus relief package. The main sticking point, both sides accu
Regarding microsoft. Some people did not like the quarter but now we have something that puts them right it not passing in terms of the growth google and facebook among a certain demographic that people want which is the 18yearold demographic. I go on tiktok and there is a good one right now about Federal Express delivering packages versus u. P. S. Versus the post office david, your kids may like it at the same time, its got a lot of viewers it does 80 million here in the states. Yes, one of mine does typically it does skew more female than male and the other one doesnt but this is a fascinating situation, guys, for any number of reasons unlike anything i can recall having seen in part because the government is so deeply involved inbasically dictating the potential sale of a business to one company. And it really ends up being one company. You know, as you guys know, ive been following this to a large extent over the last few weeks and it was a difficult thing to imagine. How would go
Backfire. It follows a vote in the us House Of Representatives which passed a bill that would require the tiktok owner bytedance to sell its stake in the Social Media Platform. During the debate, lawmakers repeatedly said that tiktok has links to the Chinese Communist Party Something denied by both tiktok and bytedance. The Chief Executive of tiktok posted this on the Social Media Platform a short time ago. Us lawmakers were debating whether the pastor bill, they had repeatedly said that tiktok has links to the Chinese Communist party, something denied by both tiktok and bytedance. Denied by both tiktok and bytedance denied by both tiktok and bytedance. Denied by both tiktok and b edance. ,. , bytedance. Our intention is for tiktok to continue bytedance. Our intention is for tiktok to continue to bytedance. Our intention is for tiktok to continue to operate l tiktok to continue to operate but not under the control of the Chinese Communist party. I the Chinese Communist party. I want to