In sydney. Im Annabelle Droulers in hong kong. I am kathleen hays. Conscious sentiment as traders recalibrate rate hike expectations. All major u. S. Indices had their worst months since june. The cleveland fed president makes it clear she does not expect the central bank to cut rates next year. She says they need to be above 4 . Australia holds a economic summit in canberra. Now, august is ending with a whimper rather than a bang. The likelihood of a fed visit pivot is embraced after the jackson hole speech. Jack josh jay powell gave a very hawkish message. Look at the futures. A little rebound here. Not surprising. It was not such a big move, just the totality of all major indices having the worst month since june. The s p down more than 4 in august. Every major asset class fell in august. New york crude is now down about . 71. 88. 84. For the month we had a drop of more than 9 in august. That was the biggest monthly drop since 2020, the start of the pandemic. People are worried abou
Better. Some red arrows in europe as Indias Parliament continues to fight about berlusconi. Our road maam begins with the s p, looking to claw back some ground after yesterdays closing at the low, below 1,700, the longest streak of the year. Jcpenney had been pointing down sharply again on continuing concerns on whether they need to raise capital and just how much. But the stock looking up after the Company Comes out with a release saying, hey, were still seeing progress here on our turn around. Well have the entire story in a moment. 11 billion is what jpmorgan could end up paying to tie up security probes. And jcpenney did fall below 9, getting close to an historic intra day low. The company has a statement out saying theyre pleased with their progress thus far in their turnaround, starting to see greater predictability in its performance across many areas, improved by its purchase conversion, which has been a longtime Sticking Point and anticipates will experience positive comps com
Evidence that britains coronavirus epidemic is spreading again as the uk records its highest daily number of new cases since the middle of may. Government data shows the r number which measures how many people each patient infects has moved above 1 for the First Time Since march. But deaths and hospital admissions remain low. It comes as new local lockdown measures are announced. More than 1. 5 Million People in birmingham, sandwell and solihull are told they can no longer socialise with other households after a sharp rise in cases there. Its going to be very difficult for families, you know. I could understand that they have to try and curb it, but its going to be a very hard thing. Hairdressers helped the uk economy bounce back injuly it grew by 6. 6 but its still a long way off pre pandemic levels. And a big weekend for newly promoted leeds as they prepare for their first appearance back in the premier league for 16 years. And coming up on bbc News Australia fight back after an earl
That democrats are going to continue to push this false narrative that there was somehow wrongdoing on behalf of the president. We also have now reporting from abc news today that the white house has been briefed about the quote logistics and timing of the release and will not seek further redactions, but what they are really worried about is the 30 hours of testimony from former white House Counsel don mcgahn. That is contained in the report allegedly delving deep into whether or not the president obstructed justice. It all doull says contained in Mueller Report is a blueprint for how the president and his cadre operate which can let us know how much the president tried to suppress the investigation to begin with. Joining me now, chris lou, former secretary of labor under president obama and sarah long well, republican strategist and publisher and clee, National Political reporter for the washington post. What are you getting in terms of the fears around the 30 hours of testimony by a
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