Wisconsin protests. World Central Bank Leaders coming together virtually, Federal Reserve chair jay powell speaking at key economic conference and investors closely watching what he has to say. Ahead of the speech, few hours are lower. We are taking a look at decline at start of trading. S p and nasdaq hit record highs again yesterday. This morning dow futures down 88 points. Mornings with maria live right now. Global markets this morning are red across the board. Take a look at european indices, the cac quarante down 31 and the dax index lower by 52. In asia overnight markets mostly lower, worst performer was korea down more than 1 . Top stories that we are watching this morning. Night 3 of the Republican National convention honoring americas bravest, devoting their lives defending our freedom. Since 9 11 ive seen americas heros up close. Some of them saved my life. Service, its more a word to me, its a way of life. Maria meanwhile mike pence touting President Trumps economic success
In negatives, nothing changes there. The latest negative being this fight over control. The president or the governors. That is a distraction from the main event, getting back to work is now job one. Later on the program today, larry kudlow, the president s chief economic adviser, joins us. Hes on the task force. We will ask when, where and who gets back to work. Thats coming up. To the get back to work debate, it largely excludes democrat politicians, shown side by side Bernie Sanders has endorsed joe biden. But all they can agree on is contempt for the president and some bernie supporters are saying now they will not vote for joe biden. The democrats are split. What are they contributing to the get back to work debate . In my opinion, not much. The market, however, they appear to like the idea of opening up the economy. Investors looking to the other side. The dow this morning is going to be up about 400 at the opening bell. Thats a gain of, what, 1. 75 . A similar gain for the s p a
Risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The Unemployment Rate has been near halfcentury lows for more than a year. The anticipation of job gains have been solid and wages have been rising. These strong labor Market Conditions have underpinned solid household spending, which has been the key driver of Economic Growth over the past year at the time of our fomc meeting in january, prospects for continued Economic Growth remained favorable, and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks the virus has afflicted many communities around the world and our thoughts and prayers kgo out tho those who have been harmed its also disrupted Economic Activity in many countries and has prompted significant movements in Financial Markets the virus and the measures that are being take on the contain it will surely weigh on Economic Activity both here a
The Unemployment Rate has been near half century lows for well more than a year. Job gains have been solly lid and wages have been rising. Strong labor Market Conditions have underpinned solid Household Spending which has been the key driver of Economic Growth over the past year. At the time of our meeting in january, prospects for continued Economic Growth remain favorable and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks. The virus has affected many around the world and our thoughts and prayers go out to those who have been harmed. The outbreak has disrupted Economic Activity in many countries an prompted Significant Movement in Financial Markets. The virus and measures being take ton contain it will surely weigh on Economic Activity here and abroad for some time. We are beginning to see the effects on the tourism and travel industries and we are hearing concerns from industri
Market committee announced a one half percentage point reduction in the target range for the federal funds rate bringing that to one to one and a quarter percent. My colleagues and i took this action to help the u. S. Economy keep strong in the face of new risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The Unemployment Rate has been near half century lows for well more than a year. The face of job gains has been the pace of job gains has been solid and wages have been rising. The strong labor Market Conditions have underpinned solid Household Spending which has been the key driver of Economic Growth over the past year. At the time of our meeting in january, prospects for continued Economic Growth remained favorable and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks. The virus has afflicted many communities around the world and our thoughts and