Growth rate and job creation, now if you put the fed statement and higher jobless claims together, thats whats pushing stock prices down this morning. Look at it. The dow is off about 100, s p 60, nasdaq about 31, more on that in a second. All right, did you watch night 3 of the Democrats Convention . It was hate trump night. Speaker after speaker layed into the president in personal terms. He gets the blame for everything. Seems to me like the democrats have not gotten over their loss 4 years ago. The president was live tweeting all the way through. We will show you both sides of this, of course, but seems to me like all of the democrats have is hate trump. Varney company is about to begin. Stuart look at the red ink on the markets, first of all, down across the board but not that much. Lets get right at it. Larry kudlow, director of Economic Council at the white house. Larry, negatives this morning. More than 1. 1 million jobless claims, the fed says the virus is hurting growth, back
Detecting new cyberattacks from russia, china and iraq election. The clock ticking away for tiktok. President trump says theyll be no extension for the sale of popular chinese app. Ceos calling on de blasio to crack down on crime. The dax index lower by 46, the uk economy rebounding. Gdp up 6. 6 in the month of july for uk. In uk green across the board. Best performers were in hong kong, japan and china all up 3 quarters of 1 . Now some of the top stories that we are watching this morning. President trump slamming joe bidens record on jobs saying the democratic nominee nearly killed the u. S. Auto industry during Campaign Rally in michigan. Joe biden supported the Transpacific Partnership which would have been death to auto jobs. I withdrew from the tpp, that was so easy. You wouldnt have been making cars, you would have been making cars from foreign lands. Dagen made in america platform in michigan that ensures penalty. Wild fires ravaging the west coast. 16 are still missing. County
Texas. Meantime, covid19 cases continuing to rise with 4 million reported across america. But today, the u. S. Centers for Disease Control that is control is advising schools to open, after originally highlighting the risks. It added up to another down day for stocks. Joining us, abigail doolittle. Abigail a lot to digest, and you nailed all the issues. A big piece of it has to do with the big xl off, but the rising tensions with china have been the backdrop for the past two years, but really coming into the forefront here. And economic data, frankly, not right. Investors are paying attention to that. You put it together, nasdaq 100 down. 9 , down on the week for the second week in a row. Stocks hit even harder, down 1. 6 . What intel really disappointing, at lowes down 18 per soient, worst day at that point since 2000 to one Third Quarter guidance for that chip to let you talked about, and also the idea that manufacturing of their trips could be changed. We had investors going into a
Ahead of his News Conference there later today. And samsung shares rise as the Company Beats on Quarterly Earnings. Memory chip prices finally begin to climb out of a persistent downturn. It is 8 00 a. M. Across the emirates, 12 00 midday in hong kong. This is bloomberg daybreak middle east. Im tracy alloway. The middle east never has a shortage of news that this morning with iran announcing a seriesf missile strikes on u. S. Bases in iraq, the First Response to the killing of general soleimani, as i mentioned. Reporters are on standby to walk us through the latest developments. What are we seeing in terms of the reaction from the u. S. . So far, u. S. Reaction has been muted. The u. S. Did not release numbers for casualties, and basically, they are still assessing. President trump says all is well. Basically saying so far all is good. Meantime, meanwhile, we are looking at a response from the iranians where the foreign minister kind of hinted there might be actually a deescalation bec
At this point with hallway and as geo political superpower that we are in the United States and where a competitor to china were seeing with 5 g. Because the u. S. Doesnt even how one single manufacturer of this tel and consequent we see germany we see brazil likely to do deals with huawei despite the u. S. Saying no what do you think of this well they certainly are putting pressure on on the europeans not to do 5 g. And indeed also the same question is confronting india right now. Modi is also being pressurised not to adopt while weighs 5 g. Standard so the question is if you want to use the sputnik analogy the russians were ahead of us when they launched a man into space before we did and the us mobilized its considerable National Resources and ultimately caught up and did surpass the russians. I would say that its not impossible that the same thing could happen but of course it would mean invoking things Like National industrial policy which is something we havent liked since the 19