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Morning. I could go on and on, mike santoli, but when i have you on the program with me why would i bother i might as well send it over to you. Set us up for the action today, particularly given what weve seen there was that rotation earlier in the week, but it already feels like theyre coming back to growth. Rotated, with he unrotated, we will we will rerotate i do think its indicative of this market that has generally speaking hesitated right underneath the all time highs. We are all looking at that its fascinating as sara and i talked about last night on closing bell we would otherwise be saying, oh, its a quiet post earnings august period, markets in a nice uptrend, s p is up 3 month to date, its supposed to be a negative week, everything looks fine, markets maybe just pausing because its had a 50 run in 100 trading days, but because we are on the verge of that number it seems to gain outside significance in terms of people trying to figure out whether thats kind of an end point fo ....
Of the council on foreign relations. Her fourth book is a revelation. Who acts next in this backandforth . Jonathan the administration has been dancing around the issue of the trade deal announced back in january. The president has stopped dancing around the issue. It means much less to me. He repeated that about three times in a News Conference yesterday, and i wonder how that message evolves in the coming weeks and months. Tom i thought it would be a lazy friday, and i was wrong. Let me give you two quick ideas. Of thew the donnybrook republicans in washington. That will be china as well. And we have statistics which speak to the summer of 2020. Honeywell is without question one of the best run companies in the world. They organic Revenue Growth was 18 . You dont need to know anything else. Jonathan we will get the earnings a little bit later in the program. Equity futures ....
Be risk on. The cash trade, less than an hour away. Here are your headlines. Big attack its even bigger. Alphabetacebook, and tune to techsumers to solve the problems of a global lockdown. The French Economy shrinks 13. 8 or after an increase in jobless claims shows the recovery is in shaky ground. Ibar, bnp arab are par beats all but one of the big wall street banks. Just an hour from cash trading. Lets look at futures. Futures futures, u. K. Are down but only slight moves. Nothing material. Nothing to show us what kind of direction we can expect. Futures right ww, if you take a look at the eif screen, also slightly mixed this morning. Of working slew earnings news. I will kick it off right now with natwest. Impairment charge of 3. 54. 5 billion pounds. Expecting less than one billion. In the Second Quarter, more than doubled the impairment charge for the full year. The comp ....
The moon right now. We will do that in a moment. But it is allencompassing, this political battle in washington. I am just going to go to the round number. How do you explain to 30 million americans that there is not a check in the mail . Jonathan you cant, and that is the problem. Insurance. Employment payrolls friday, the unpredictable print, and i think the most unpredictable in quite a while. Lisa politically, it makes no sense not to extend the enhanced lemon benefits, and yet they are still negotiating. They have already expire. What i am watching is how big the deficit is going to get area the u. S. Treasury department is going to be laying out there barring plan deficit is going to get. U. S. Treasury department is going to be laying out there borrowing plan. Watchingso going to be President Trump. Sorry, i am going to talk about tiktok. Hes going to give guidance on u. S. Ate of tiktoks operations. It is not enough to of ....
The dow up. 2 . Moves. Elping those , back above 42. The dollar index at 92. 74. Stronger sterling, stronger euro, stronger yen. Pandemic an interesting time for investors, distressed investors among them. Erik schatzker is speaking to howard marks of oaktree. Always terrific to have howard marks with us on bloomberg television. Weigh in on tenterhooks for your memos. A lot of them in march and april. Not so many as of late. You are out with another one, time for thinking. You raise a number of provocative points and questions. Them states the obvious, the Financial Markets are at the center of a titanic struggle between the pandemic on the one hand, and the government effectively on the other, recession versus the fed and treasury department. You and i have talked about this before. As recently as may, youre thinking was that the fed could not keep it up forever. Am i to divine that perhaps youre thinking has changed on that s ....