Hard to digest the news. Well cut right at it, give you the details in a moment. Overall, the market lacks real direction. The dows going to be up maybe 15, s p up 10. Nice gain for the nasdaq though, all green at this point. Politics [laughter] can you say softballs . One after another, they were lobbed towards joe biden at the cnn town hall last night. Not very good preparation for the first president ial debate which is, by the way, 11 days away. The standout for me came when biden suggested that if the president had acted sooner on the virus, all those people would not have died. So the president killed 190,000 people . Not a word of pushback from the moderator, cnns moderator. Today biden goes to minnesota, an opportunity for him to clarify his position on urban rioting and defunding the police after the minneapolis disturbances. And get this, the president will also be in minnesota today. You can bet hell brung up law and order bring up law and order. Mr. Trumps press secretary,
Carl quintanilla with Morgan Brennan and jon fortt. Interesting monday morning getting news a few moments ago that the president met with jay powell earlier today, tweeted about that got a statement from the fed as well as the market tends to struggle a bit this morning for some direction joining us, michael puree vis, and pete stall good morning, guys good to see you both good morning. News from the fed first and then the white house is interesting. What could they have to talk about . Seems like the macro i think it is interesting you listen to any Earnings Call in the last six months, how many of them are belly aching about cost of capital not hot enough, not low enough there was some belly aching about trade. And Dollar Strength, sure, but the Dollar Strength has been persistent but hasnt been dramatic not a reply of the 2015 and 2016 which threw earnings off it has been a gradual steady rise that allowed ceos to manage more effectively, at least to manage the street better on that
Euros. Oil prices climb amid mounting tensions between the u. S. And iran as washington ratchets up economic pressure with major new sanctions and President Trump tells nbc news he never threatened to demote fed chair Jerome Powell but claims he has the power to do so if he wants. I have the power to do so. Thats not a threat just a reminder that you can. I have the right to do that but i havent said that. What hes done is 50 billion a nont quantitative tightening, its ridiculous. Well, good morning and happy monday, everybody. To kick off the week were getting german data out. So lets break that down for you. The june efo survey german business moral has fallen in june the Business Climate index came in slightly higher than expectations at 97. 4 versus the forecast of 97. 2 however the execations index come in at 94. 2 versus forecast of 94. 5. Little lower on expectations current condition index risen to 100. 8 in june versus forecast of 100. 2. On forward looking indicators sentimen
, gainingets of today for the first thing and three, on track for the second weekly gain, best run since early november. 136, highest level since june of 2016. Day after the breakfast best run since december. Sterling falling the first three day of this week followed by continued signs of division over brexit, disappoint economic dating and the forecast 135. Rcb markets the most bearish, forecasting 1. 20. Vote, junethe brexit 23 of 2016, sterling finished the day at 1. 4877 and the next day at 136. 79. We are at 136. 87. Lets talk about gold. Longest run of gains and more than a decade, will jan benefiting from the weaker dollar attention to north korea and the middle east with gold futures headed for the fifth consecutive weekly gain and the longest rally permit twice 16, gold is at the highest level since september of last year and lets talk about russia investors had have been piling 122 million into the russia over the last five trading sessions, the longest stretch of inflows sin
Up too far too fast. The stocks are over value and due for a full usually forgetting something something big. Theyre forgetting the power of take overs when one company buys another it can create so much value that you want to slap yourself in the face then theres the pin action. Whenever you get a deal tends to boast the value of all stocks in the same sector which drives up the market dow gaining 17 points. S p up and nasdaq point up. 01 . When has borrow made overtures to mattel mattel stock surged over 20 more important, has bro, potential acquire, its stock jumped 6 because the synergy will be so thats not supposed to happen though. When youre about digital merging, normally stock goes down weve seen a lot of deals like this one where both stocks go up it makes sense that this has mat conversation theres the man, god i look younger from. Jay way, this anyway this has matt corporation i kind of like that suit has bros take advantage and reaching toys r us bankruptcy. Broadcom decid