Remember on the week u. S. Markets are lower. On the week european markets are higher. Eurodoller trading 118. 30. Taking a tougher line on the link between the Exchange Rate and inflation. The pound continues to fall trading 11787 as we continue to see the stalemate between e. U. And the u. K. On the u. K. s new legislation, the internal markets bill, which will undermind the treaty signed between the Boris Johnson government antie. U. Not that long ago. Alix thanks so much, guy. We are very welcome special guest, we are happy to have him here. Stanley fischer, the former vice chairman of the Federal Reserve. He has just been awarded the first miriam pose yem prize by the m. I. T. College center for finance and policy for his Outstanding Research and leadership in financial policy. Its a pleasure. Congratulations. We truly appreciate you spending this time with us. Not to get right to it but lets get right to t the latest Inflation Numbers out of the u. S. Today, Consumer Prices arose
7. 44 . As you noted before the yield curve. Steepening and a rally in the financials you mentioned that june 10 was the high that was the day where the markets had their maximum enthusiasm about the strength of the recovery and how fast it would be that was the peak where the come back of value and cyclical sectors. That seems to be the dynamic and the push for which stocks were preferred and the market seven days in a row of records is not to be dismissed guys the intraday record high in this session and well have to see if this continues . Yesterdays high is around 3,500. Coming up, well talk about the abrupt halt to the sports world. We ha we have fed president s and the interim ceo of tiktok. What a story it has been and a soap opera all week long we are learning more in the details in the sale of tiktok after walmart confirmed it has teamed up with microsoft sources tell us that walmart ineshlly wanted to be the lead buyer together with what was alphabet and soft bank coo and ran
Consumer sentiment levels rising slightly there are some signs momentum is faltering. Corporate america making big layoffs. Underlying the wall street main street divide. 59 minutes left in the trading week s p 500 set for its sixth Straight Record closing high 7th day in a row of gains and 5th week in a row of gains coming up in a few minutes. Were going to speak with James Bullard about this weeks major fed policy shift the strength of this recovery, washington stimulus stalemate and much more. A bold call on energy, we will speak with a strategist who says now is the time to buy the sector continues to lag far behind the Broader Market, despite todays pop. Lets get straight to this resilient market, the s p 500 looking to close out its 7th straight day of gains, the dow turning positive for the year. Mike san tolly tracking all that action resilient, relentless, persistent, this uptrend, the s p 500 clicks the 3500. So essentially bumping up against that thats your High Water Mark i
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
To get things started off. The dow is down by 17 points but the s p and the nasdaq is there. Nasdaq is indicated up by 47 points this is after a strong month of july for all three of the averages the dow up by 2. 4 for the month. The s p saw its best july by ten years. It was up by 5. 5 . Thats nothing compared to the nasdaq today is the first trade ding d of august. Thats out at 10 00 a. M. Eastern time today also take a look at treasury yields you did see yields under extreme pressure or ten year closing at its lowest level since all the way back to march 9th. Right now it is a little bit higher 0. 546 stimulus talks in congress. Trump administrations officials and House Speaker nancy pelosi are set to resume negotiations today on their competing visions of a bill. The Sticking Point continues to be a boost set at 600 per week in march that lapsed on friday he and Speaker Pelosi are on the same page about the need of direct Cash Payments of 1,200 to most americans. Andrew. And big co