Live this hour. Plus records watch, the plus ive got it, carl the dow aiming to erase 2020 losses and the s p heading for the best august since 1986, kelly. Wow and cocacolas restructuring strategies amid plans to streamline the drink portfolio they are setting voluntary job cuts for thousands of its workers. David, it is friday, and kelly, friday and you just sort of think back to what this week has brought us, guys alltime highs, obviously news in sports in the nba, hurricane laura, the rnc and we will hear from what the president said last night tiktok, microsoft, walmart, oracle, you name it, david, but large discussion this morning about how the thing thats going to probably stick with us for the weeks and quarters to come is going to be that historic powell speech and we will have to decide whether this long end is bringing us noise or something more yeah, i mean, im glad kelly is here because im sure she was home studying every word after it took place, as you know, not my area
There. Big stocks in apple and tesla giving back gains. Ibm gained more than 3 yesterday. Also cocacola up more than 4 being looing at u. S. Equity few you are its. Something to Pay Attention to. Dow futures down around 40 points looking at first of september, and all of july and august with spectacular gains. Looking at the treasury yields looks like right now 0. 654 . Those movements with he saw yesterday were interesting in terms of the rotation. As a general matter, those had to pull back they will have to have these pull backs the fact that the market can do okay on a given day is a positive doesnt change the fact that weve traveled at a steep angel here there is a jumpiness a late summer week heavy volumes. You are seeing all sorts crop up there is a Different Energy to the market 20 what has passed in 2017, 2013 not sure the implications but there is Something Different it is 6 01 in the morning here yesterday was called a gama squeeze. We dont want to get too mechanical in the
Dow down about 30 points though fractional moves if you look at whats working in the trade, its not your Traditional Technology and consumer names its utilities, health care and materials. What is netflix big miss for the growth trade is this a warning shot of beloved technology darling getting too high expectation it might be tactically on the short term but i dont think long term. For you to see a true rotation out of growth into value, you actually need to see Economic Growth and acceleration and a little bit of inflation. While we are seeing improvement in growth, we still have a long way to go. Were definitely seeing the better growth. Look at retail sales, Industrial Production this week every week were Getting Better data whether it lasts or not because of the closure is a big question mark. We are seeing better growth. What we dont have is inflation. Thats what value needs to out perform growth for the time being, i think youll continue to see growth in value as i mentioned, ta
Lets get your headlines for you. Beijing cansles flights and orders schools to close as chinese cases of the coronavirus rise. Infections. New jay powell said the fed will use all tools to defend the economy. Robert caplain said healthcare policies are key to recovery. Indias defense stocks gain after the first deadly clash with china. The first clash resulting in death between the two countries in 45 years. Now we have e. U. Car sales coming out and the drop is substantial as you may expect. 57 is the european car sales drop in may. This comes after the much bigger plunge of 78 in april. Car sales falling by more than half. 57 in may after the 78 plunge in april. Of course that is not unexpected considering the fact that most of the month at least Car Dealerships were closed in many countries in the European Union. Just under an hour away from the start of cash equity trading in europe. Lets take a look at futures this morning. As we said, a little bit of a pause in the risk rally. Ts
California and new york become the latest states to backtrack on plans to return to normal as daily virus cases in the u. S. Top 50,000 for the first time. Optimism takes hold of markets again. Asian equities and futures gain after positive vaccine developments and strong u. S. Manufacturing data. The u. K. Offers a home to hong kong citizens after chinas crackdown on prodemocracy protesters. The u. S. House of representatives passes of fresh sanctions bill against china. We are under an hour away from the start of cash equity trading in europe. Lets take a look at futures right now. We see gains across the board after the drops in the cash trade we saw yesterday. A mixed picture in the u. S. But the futures up two thirds of 1 . Dax futures gaining 8 10 of 1 . U. S. Futures are little changed right now. You will see a screen full of green arrows as they are mostly marginally, with the exception of nasdaq futures. It looks like a risk on thursday. What do you see on the dmm . Anna weve