Welcome to squawk alley. Im Carl Quintanilla Julia Boorstin and jon fortt are with us for the hour the dow session alone was down 236. Were slightly off that s p 500 is off the early lows as well zoom helping to lead the nasdaq 100, john. Looking forward to disney and cisco earnings to night. That is definitely true, carl the big themes, protect investors today. Number one, game on. The play station 5 from sony is shipping and in stores as of today. Joining the x box series x this marks the start of the biggest console refresh. Really the only major console refresh in seven years its happening during pandemic lockdown and then youve got china. I mean coming off of a record breaking singles day where the chinese Online Consumer is flexing. We have to think about that exposed deadline for tiktok to do a deal in the u. S. For those assets i dont know if the president is interested in shutting down tiktok anymore fair to say his attention is elsewhere. Thats right, jon today was the day wh
But the breakdown of oil today on Global Demand is really significant. Under 40, not only but well on to new lows right now, 39. 71 on world oil. It is much more about the pandemic than it is the epsilon off the american election. Jonathan a breakdown on the equity benchmark in frankfurt, germany, the dax suffering. What is new about today . The dollar bid through g10 against e. M. You mentioned the turkish lira this morning as well. The Dollar Strength returns with a bit of a vengeance this wednesday morning. Tom let me triangulate again here triangulate yen here, folks. You throw the dollar out and look at euroyen, and euroyen clearly indicates weak euro. Lisa teladoc a. M. , german chancellor ashtead 00 a. M. ,erman chancellor 10 00 a. M. German chancellor Angela Merkel discussing new restrictions to stave off the rapidly increasing number of cases of covid. Also at 10 00 a. M. , ceos of facebookalphabet, and are testifying to a Senate Committee on restrictions of political messages
Needed to hear not he showed the stark contrast between he and vice he and the current president i think also he spoke to all of the issues that americans are grappling with right now he spoke to his plan to get us out of this Global Pandemic that has just taking our country just to the right he talked about how hes going to invest in our country to get us back on our economically he also talked about our standing in the rest of the world and in talk about his ability to to you know make america better standing with our citizens and our fellow countries in the world and i think he hit on a policy point but he also talked about the issues that americans are grappling with issues of racism a shock to racism he was very bold on that and he also i believe was very bold in touching in reminding us who he is any showed us the strength i think you know weve seen all the comments about him and sleepy joe and these things that you know these things that President Trump has put out there at the
Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.
To push for reform of the citys Law Enforcement. Meanwhile amazon takes a step back from Law Enforcement for the next year the tech giant will ban police from using its facial Recognition Software thats been shown to misidentify of people with darker skin. And born during lockdown with her parents far away after weeks of separation the surrogate baby in the ukraine finally meets her family but many others still face a long wait. Im sumi so much kind of thanks for joining us at a dramatic congressional hearing the brother of george floyd has called on lawmakers to make sure he did not die in vain floyds killing in Police Custody ignited protests across america and around the globe the play by felonious floyd comes as the man. To reform policing and stop africanamericans dying from Excessive Force by white Police Officers. The day after his brother george was laid to rest in houston texas. Alone as floyd was in washington d. C. In an emotional testimony he called on lawmakers to ensure t