But the e. U. May challenges deal with china. Up ad Morgan Stanley wraps big earnings week for u. S. Banks , with a beat. We are live from the Morgan Stanley global Alpha Investment conference in hong kong. Us trillion markets just open for trade. Sophie. Sophie asx us trillion marketst open for 600 the top smock the top stock market so far this year. Broadly speaking, asian futures are pointing higher and regional stocks are headed to a seventh weekly gain. We will see if the u. S. Tech rally feeds into asia, given bullish guidance. We did have alphabet joining the 1 trillion market cap club. Fed expected to stand pat on rates. Looking ahead to the chinese gdp report, futures in singapore closing higher after a three day drop was posted and the offshore yuan is headed for an eighth weekly rise. Thea top forecaster says yuan will in the year is one of asias worstperforming currencies. Shery lets go to first word news with jessica summers. Jessica the Senate Begins the formal impeachmen
It is not but we are thrilled to have you here lets take a look at where the u. S. Equities are. Dow up by about 72 points. With these gains, the dow would actually erase the loss for the week at these levels s p up about eight points. S p up around 7. 5. Youll see the 10year note is yielding 1. 716 Global Markets continue to follow the headlines learning trade talks between u. S. And china are set to resume october 10 sources say Vice President premier lu will represent the delegation weve had lower level things happen but this is the next big event. Its the back drop amazing. Trump keeps plugging away. There is so many Business News headlines i think Portfolio Managers are losing sight we are coming up on the quarter. The dollar rally but most of the conversations im having right now, it centers on the Fourth Quarter of last year everyone is reflecting upon it and thinking to themselves basically, you go into the Fourth Quarter of a Football Game with a 207 lead and end up losing 272
Surprise profit and Record Services revenue, but says weakness in pc and ipad could continue to drag down sales. And amazon shares rallying after reporting blowout profits beating on sales and the company issuing optimistic guidance as well interesting internals in the jobs report this morning 187,000. Unemployment, 3. 5 average Hourly Earnings, a touch hot, but the workweek shrank, mike, so total weekly pay, below expectations i think it all nets out to consistent with a slowing but still tight labor market and a relatively soft landing for the economy. You did have those downward revisions, so decelerating but also lower Unemployment Rate implies just not a huge supply of idle workers to draw from here the main market kind of bank shot on this is what does it mean for treasury yields thats been the story all week you have had longer term yields really going higher, not much because of repricing what the fed is going to do, but just in general, a lot of dynamics pushing in that direct
Speaking yesterday in lexington, kentucky were mike pence met was Small Business owners who shared their experiences. The Vice President was introduced by kentucky governor. This is just over 30 minutes. , thank you. I appreciate your patience. We want better howff zero comes with the populace that is affordable. But there is no free lunch or a free ride. I am a grateful we have leadership at the highest levels to understand this. It is not one size fits all. It is returning power down to the local level so as a governor i am willing to take their responsibility. I is not alone there are 49 other governors and territories but we are responsible and our respective levels and give is that flexibility there is no one size that its all for everyone. But give us the local control i am grateful to have is a personal friend and political mentor somebody to learn as much from politically what to do with what not to do and the way you treat people and conduct yourself politically and the man th
Cheryl right now you can see the futures understood slight pressure overnight. You did have a big selloff in technology yesterday yet amazon sliding after results and a lot of red arrows fractionally for u. S. Markets right now. Lauren red arrows in europe as well friday morning. World Market Reaction from london, fbn am starts now. Note cheryl 5 01 a. M. Here in new york. Friday july 28th, good morning, another hour of fbn am. Lauren congratulations, weve all made it to friday morning. The breaking news this morning is this, hours ago the senate failing to pass socalled skinny bill to repeal parts of obamacare. Three republicans voted no on that measure. Cheryl we have adam shapiro standing live on capitol hill with the latest on what went down overnight. Catch us up, adam. Adam good morning to both of you, pretty dramatic when john mccain casted his no vote. You could hear gasp in the chamber. President trump tweeting about three hours ago right after the vote and here is a quote of