Within a difficult market. Whatews flow dominated by is happening between the u. S. And china on the tech front. Of we chat andds tiktok will be prohibited. The Commerce Department said the Chinese Communist party has demonstrated the means and motives to threaten National Security, Foreign Policy of the u. S. Joining us now is bill faries. Overall take on this, and a potential chinese reaction . Is trying to. Raise the pressure to get the parties to some kind of a deal here. They will basically allow tiktok tiktokhey are telling that will not be able to upgrade, do any servicing this sunday, and banning the use of chat in the United States. There are some carveouts, and i think that is why the u. S. Wants to find some agreements. Tiktok is not being banned officially until midnovember, november 12 is the key date. Involveds the parties some time to reach an agreement to address some of the National Security concerns that have been raised. Overall, i think it is probably more of a posi
Tom maybe we should get you out on tiktok to advance the show. This is an extruders story. It exploded last night with the prep this is an extraordinary story. It exploded last night with the president s comments. As you know, bloomberg reporting on the response from the chinese. It has been abrupt. It certainly is, a finders fee, something we have not seen in the past. For microsoft it could mean the deal of the decade. Lets get straight to the bloomberg first word news in new york city with ritika gupta. Ritika good morning. President trump may take executive action if congress cannot agree on a new coronavirus stimulus package. A president told reporters he might impose a moratorium on evictions and an act a payroll a payroll taxct holiday. That ant trump insists pickup in u. S. Operations has stalled, the u. S. Government if tiktok it said the money would come from china or from an american buyer such as microsoft. Earlier in the day, he said tiktok would have to close in the u. S.
August 15 but also continuing down. 7 the nikkei and the futures in the u. S. Are looking lower as well. Data expected out of the u. S. Later today. And in terms of looking at some of the currencies in the region, we talked about the bloomberg dollar index. Down about. 10 . Dollar weakness is essentially beneficial to equities in this part of the world and currencies as well. Aussie, thats what youre looking like, essentially flat and new zealand had jobless numbers that came in less bad than expected. The kiwi dollar up. 2 . Lets move on to some of the commodities, gold again looking strong and well, above 2000 an ounce, a little bit of weakness in the last hour or so, down about. 2 . Terms of oil were looking at the beirut story, the port explosion there and there was concern that have geopolitical tensions emanating from that. Thats the yield picture in the points. St over 10 basis rally washe dollar rather short, and then weve got gold, the inverse correlation back at the moment. T
Before but investors remain bullish. We are on record close watch for the three major averages, as we stand, the nasdaq and s p pretty comfortable. The dow just higher, though, by only 0. 1 . Industrials the only sector in the red. Consumer discretion. Joining us, josh brown from Wealth Management. Well done. What did i say . Im not sure. It was cute. I got close enough. Lets stay on track nasdaq, dow, s p. With almost nothing in the red at all. Its bigger than that 52week highs for the slf. Bank sector. Very, very key incredibly bullish Consumer Sector spydr. Look at the usual suspects, xlk. Off the radar things that are happening thats really interesting. This might be because enough tax law selling has already occurred or traders are anticipating the end of that. Some of those highprofile ipos that blew up this summer and fall are starting to make meaningful moves off their lows, looking like they could be putting in a sustainable bottom. Peloton, after a very disappointing debut. S
to say about the possibility of taking the witness stand in his own defense in the classified documents case. and also ahead an update on president biden s covid status following the first lady s infection as he s set to leave today for a major summit overseas. good morning, and welcome to way too early on this thursday, september 7th. i m jonathan lemire, thanks for starting your day with us. and we ll begin with the first major hearing for the fulton county election interference case that ended in a loss for two defendants. sidney powell and kenneth chesebro were denied their requests to split their trials. the pair each requested speedy trials but did not want to be in court together. district attorney fani willis is still pushing to keep all 19 codefendants together, trying them all on the expedited trial date that chesebro was granted. now, fulton county superior court judge scott mcafee did not seemed convinced that could be possible. it just seems a bit unrealistic