For an earnings season that is beginning to unfold. Later, the rush is on as Apple Unveils its new 5g enabled iphone are the stars now aligned for a super cycle that wall street has been waiting for for apple power lunch starts right now stimulus negotiations hitting a wall once again as the two sides are stuck on whether to do one big bill or several smaller ones elon has the latest for us there will be no relief before the election. We knew this in our guts, we knew it by looking at the calendar and today treasury secretary Steven Mnuchin acknowledged it publicly during a speech for the milken institute. Getting something done before the election and executing on that would be difficult just given where we are in the level of details were going to try to continue to work through these issues reporter now, this is dispute the fact that the senate will still go through the exercise of voting on a 500 billion package of targeted relief next week thats much less than what democrats are a
It is hip to be square used to be at least. Lets check out u. S. Equity futures. Things are relatively flat and that isa good thing. A bit of a difference after the big swings weve seen. Right now dow futures up about 3, s p 500 up about 2, nasdaq up by 13. Of course this is after a done day for the m down day for the markets yesterday. Treasury yields are something to start paying attention to because we did see a pickup in treasury yields to the highest levels weve seen since june the ten year is yielding 0. 813 . And i know it doesnt seem like a lot, but it is the highest level weve seen in a while and there is so much that rides on that including mortgage pricing which has been a key part of what has been happening in the housing sector, a strong point in the economy so far. Lets get over to washington. Well talk about id call it a soap opera, but really it is a reality show and means a lot to so many millions before nancy pelosi says she is now optimistic that democrats may be abl
Treasury secretary triggered more fear than any episode of stranger things. Look at the nasdaq, taking the most outsized hit right now, down 89 points or. 75 . The dow is lower by 142, s p down 20. Our floor show traders are mobilizing right now in front of their cameras to root out the markets hidden Pricing Power players. They will tell you how theyre doing that right now. Just 24 hours after that apple event cameo, verizons ceo is here on the 5g future hes promising apple iphone 12 buyers. What 5g really means to you and me right now and what will it take to get those ultrafast speeds into areas still operating in some cases way back on 3g . Hans vestberg with us in just a few minutes. The Telecom Giant joins us. And spac to the future. A new spac ready to clean up in more ways than one. Former nrg ceo david crane taking his Clean Energy Investment to the public markets. What will it take for him to open up his blank checkbook . We will ask him in a first on fox business interview.
Oil, 41. 40 we talked for a long time about mike pences hawkish speech on china from a year or two ago but pompeo yesterday oneupped that and this consulate news from china is weighing on sentiment too. Yeah, he upped the ante jim did focus us at the time on Vice President pences speech because it was quite truck lant would be a word to describe it at the time but it continues to go up in terms of the tensions, carl weve talked about it pretty much every day, whether its a backandforth over huawei, whether it has to do with conversations about closing down the app tiktok in the United States, whether it is the closing of consulates here and the response from the chinese. This is not going in a direction that many, who at least are invested in the idea of global trade, certainly, mike, would wanting to see. For sure. On the one hand the market is not necessarily overly focused to this point on these relationships and not really counting on anything to come out of it. Its not quite like
What happens after yesterdays big move the dow down yesterday by 2. 1 the dows worst performance going back to may 1. A lot of this was happening as we were getting comments not only from Stan Drunkenmiller and dave tepper talking about his concerns about this being the second most overvalued market he had ever seen. Comments from fed chairman jay powell all of those things adding up saying what do we need to worry about and where do we need to be concerned . Watching the treasury markets, you will see the yield for the 10year right around 0. 61 so that is with a little more pressure. Watching wti this morning, you will see that is up about 5 i think it is 2r5iding near session highs of 26 a barrel. Andrew thank you. Every day, we have a huge show another big one this morning what is on the lineup this morning. The ceo of verizon, New York Times, mohammad eleran to join us and eric schmidt who will be working with the governor of new york states and work places looking to him and that