At the open. S p looking to be up by 1 point, the nasdaq off by 1 1 4 points overnight in asia, japan was closed for a public holiday. No trading or the nikkei most of asia was digesting Economic Data out of china the Second Quarter Economic Growth gdp slowing to 6. 2 , also coming off 6. 4 in the first quarter. Thats the weakest pace in 27 years. Industrial output, retail sales data also fixed Asset Investments were all above forecast chinese shares were down before the data was released. Then they turned positive. Overnight in europe, we are looking at i thought we were going to follow asias lead, pretty much flat across the board. The dakotas is off by 4 100 of a percent. The treasury yield market, the twoyear note 1. 845 . Just mention on the china data that markets responded better to the data for the first portion of trading in asia and europe and weve just sold off a little bit in the last few hours. As you pointed out that was just for june. Gdp for all three months it did see
And so well talk. No. Thank goodness, and lets talk about markets earnings. I want to know what hes fixing. Fixing facet. Lets talk about markets and the recordbreaking last week. Futures are pointing to higher ownership a 28 point gain on across the board after all three major market games finished in record territory on friday. Second quarter earning season kicks off in about two hours. City reports President Trump tweeting on the economy last night, were doing great economically as a country. Number one, despite the feds aint waited policy on raids and tightening room to grow. Mitch lets start with again the feds getting ready to cut Interest Rates based on all indications. So thats thats not tightening. But lets talk about earning season what do you expect because again, rip to, quote, ya a rip roaring market but you have earnings are expected to come in negative for this quarter. Last quarter same i mean for the Second Quarter, and negative even in the Third Quarter based on expec
Off earnings season. Trade war slowdown, china posting the lowest quarterly growth in 27 years and Silicon Valley tech lash from one of its own, peter teal calling out google, alleging, quote, seemingly treason ous acts well begin a new week, stocks on track to hit fresh record highs. Citi kicks off earnings season with better than expected results held by gains and Consumer Lending also in focus, china, slowest Economic Growth in 27 years in q2 gdp at 6. 2 for june, Industrial Production, retail sales, fixed Asset Investment all beat expectations, leading some guys to think maybe the Central Banks work is starting to filter in. I think so. The bears have the work cut out for them right here. If you watch our crawl underneath, youll see the semiconductors going up. They wont have good quarters. People are looking through why are they looking through not necessarily because of china, they say pc sales will get stronger the economy will get thats western digital. Fairly typical because o
Keith bliss. Keith, welcome thank you very much, morgan good to be with you. Mid averages did hit new records this morning but have drifted back down to the flat line, not really moving very much right now are you surprised by that . Not at all. Im a little suppliesed at trpre lack of action it seems theyve hit their own food coma as we wait for earnings to come through we have 300 companies that are going to report next week. We are on fed watch, of course, waiting for the july 31st Rate Decision a bit like waiting and waiting markets are taking a breather right now. Here in the u. S. And elsewhere around the globe, people are starting to go on their holiday so you have lack of participation. Were going to get into all of that a little more. Secretary mnuchins crackdown. Wilfred is covering citi earnings dion is watching the debt ceiling debate lets begin with treasury secretary Steven Mnuchins comments on crypto moments ago eamon javers has that. The rarely used White House Press Bri
Deutsche bank in the crosshairs, u. S. Investigators with the malaysia scandal investment fund. The tale of two listings. Budweiser asia offering is set to price later today. Less than half an hour until the start of European Equity trading. Ftse futures look like this, positive, as if we will get more out of the minutes or Powell Comments we heard yesterday. Storyle catchup, the before that session is a positive one. Lets see where we are on the asian session. A strong session, fully pricing in everything we heard from paolo overnight. The expectations for july have an cemented. The jobs report on friday did not change the fed thinking on what should be done with insurance cuts against the slowdown globally. Higher. Arkets going this is the fx picture. The japanese yen on the rise. The dollar retreating. Lets put up the other side and show the fixed income side. There are bigger questions about what happens to sovereign trade if we look to reinflate the u. S. Economy. In terms of the