Allocated but hasnt gone out to anybody yet. So this bill will pass with basically democrat support, so reconciliation that allows them to squeak it by on 51 votes. And the compromise and unity that we heard so much about are not a priority at this white house so far. Republicans say this is a liberal wish list. President biden says that he will be the most progressive president in history. He told us that on the Campaign Trail and a promise that hes making good on and progresses are thrilled with it. Heres one progressive senator that said biden has been very good at the ending the garden so far. So are these passages about covid or about expanding the government here in the United States over the longer term . As this plays out, in the background of all of this about the money, theres a shift going on in the country. Take a look. Cases have dropped 47 since the daily average peak january 8. Very good news about where this virus is headed. Think about this. The governors that have rea
U. K. Sounds a note of optimism. Make my day. Tough words from saudi arabias oil minister. Whoever gambles on this market will be quote ouching like hell. The under an hour away from start of cash Equities Trading in europe. Lets look what we have. Futures not all that convinced in any direction. Weakness in markets yesterday and equity markets, and nasdaq. Ar in u. S. Futures flat and mixed. We do see nasdaq futures heading to the upside. Because ofnificant the selling we have seen. Concerns about concentration and previous gains in the tech sector. We are digesting what we have heard from the fed. In assessments of weaknesses the u. S. Economy. The fiscal boost that will be needed. Lots of questions over the fiscal side of things. Modest gains coming through in asia. Asian stocks of around 0. 4 . The south korean market up a fraction of a percent. Elsewhere, fairly flat markets. Won up to anean eight month high. Dollar weakness part of the story. Keep an eye in oil prices. We mention
Little ahead of expectation. The employment number has picked up a little bit as well. But you need some real analysis on what is happening here. Theres one man to ask, mike mckee, bloombergs International Economics and policy correspondent. Michael read into it what you want. The numbers for ism do come in at a headline level lower than the last month. 56 last month, 55. 4 this month. It would suggest a be a little slowing, but that is the statistical anomaly probably. It isnt a major change. We see drops in new orders and production, but those were very healthy. For for new orders, 61 production. It is not positive. There is still some contraction, but it is up to 49. 6 from 46. 4 . It does suggest some progress in adding back some of the jobs that were lost. Customer inventories is an interesting category a lot of people has been what a lot of people have been watching. Do you need to increase manufacturing to replenish those inventories . That would suggest that you do. New export
Data in the u. S. Is bouncing back. Factory orders coming through stronger than anticipated and we are up 6. 4 versus 6. 2 last time. And it is actually a little bit softer than last time. 11. 4, that isat stronger than anticipated. And transportation is a stronger than last time. Orders,tal goods nondefense, 1. 9, bang in line with expectations. Ookare going to get the b a little bit later on. That will give us a good idea about what is happening for the back into july into august backend of july into august. We will carry on the conversation about what is happening in the markets. We have great guests coming up. This hour, we will speak to the ceo of lands end. They have a big digital presence. Have. Ffect they will we will talk with Jerome Griffith about that. And for more on what is markets we have Brian Weinstein from morgan stanley. This talk about what is happening broadly right now. Youre in fixed income guide, you are watching what is happening broadly in these markets, what d
Report in the atlantic that says President Trump called wounded veterans losers we will talk to the Vice President , but lets talk more about the nasdaq with the tech selloff continuing. Some of the big names we follow closely, tesla is down after a 9 drop yesterday and today its down about 2 in premarket activity. The chip maker also about 9 yesterday and it also looks to open down by almost 4 today. That is free market activity as well. Zoom after a big day earlier in the week seeing major prophet taking in the last two days down almost 2 and apple surging on its stock split monday but then down another about 7 yesterday down to about one and a quarter in premarket activity after an 8 drop yesterday. We are less than two months until election day and joe biden is out and about. He made another. Dot this could be why the democrats want him to stay in the basement. We will play that a little later. We may hear from President Trump as he meets with leaders of serbia and kos about later