Lisa hurricane laura is moving rapidly toward a category four hurricane, possibly inflicting billions of dollars of damage on the gulf coast. Interesting to see how that evolves with respect to oil prices. What else can 2020 bring . Tom it is going to bring a lot of challenges in academic growth. Futures red and green on the screen. Lets get right to the Business Review this morning. Ata what we are looking for 8 30 a. M. Is the july durable goods numbers. Interesting to see what this tells us about Capital Expenditures at a time of such uncertainty for companies. The u. S. Is selling a record 101 of a record 151 billion fiveyear yields. See viceing to president mike pence headlining day three of the Republican National convention. Look out for his 2024 that form, also expected money 24 platform, also expected to be his 2024 platform, also expected to be a potential candidate in the future. Tom we need to stop and explain jackson hole. It is a beautiful place with mountains that only M
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
To 10 million for a fiveyear loan, 3 , according to the reserve term sheet. The fed is expanding the main Street Program. The main Street Program for businesses started lending last week. One day worth of loans made. The fed announced last night there was one 12 million loan. They have gotten started. Criticism has been it took so long and there is not the man now or the rules do not help not demand now or the rules do not help. Went to others sources of cash, perhaps because of the requirements, the fed does not want to lose money, those who could not find cash would not be eligible anyway. At the moment, there are questions of efficacy. It is now expanded to nonprofits. Alix hang with me for a second. University of Michigan Sentiment coming in 73. 2 , Current Conditions coming in light on expectations. This shows we are not feeling good about where we are going over the next month. Lauren, the fed news is a perfect example of where we are at, continuing to support the economy, just n
Talking a lot about throughout the rest of the hour is what is happening with wirecard. Was lower yesterday and today down another 20 . We will get the details in a moment. We also have a wellknown face in the united kingdom, david the ceo, we will talk to him about what is happening with the refugee policy in the United States and around the world. We will see a significant report on the crushing defeat delivered to the British Labour party at the last election. We will get davids take on the prospects for his party and where it goes next. Certainly, it has been something that we have been spending a lot of time over the last couple of days talking about and that is wirecard. Alix one of the biggest stories of the morning. The latest headline, a lawsuit against wirecard and the former ceo, marcus brown. Lets dig deeper into the issues surrounding wirecard with scarlet fu. Can you talk us through where this started . Either missing or does not exist. That is the big question. It does l
Vice President Biden and pete i spoke with Vice President mike pence whos leading the we are people helping people. Buttigieg of indiana. Plus the coronavirus. Governments response effort and youll see in the the dow falling. Breaking news tonight. Show. Were going to begin with the stock market closing the the democratic race and the bik week in freefall. Fears escalating. Shakeup here. Perhaps no one had more riding very clear, if we have a global pandemic, no country is on South Carolina or has more riding on super tuesday than joe going to be without impact. Biden. The former Vice President joins welcome back. My next guest has an unusual me from a super tuesday state, President Trump insisting job, hunting viruses. Theres little to worry about. Montgomery, alabama. Hes chased ebola in africa and vice President Biden, welcome my administration has taken back to meet the press. Now his focus is the coronavirus the most aggressive action in thanks, chuck, for having me. And the dange