Day for the Federal Reserve system. It is a meeting of mystery. Our Michael Mckee will be there for the press conference, special coverage this afternoon. But right now, a great conversation on some of the challenges that we are going to see. Jon ferro, to me, the major challenge, with futures up 17, you mentioned this earlier, this morning, is the two americans that are out there, that two americans that are out there right now, jon ferro, are nothing like what john edwards ever thought he would see. Jonathan just compare and contrast, tom, take the airlines on one hand you can take any sector, the retail sector, and compare it to fintech right now. Big tech on fire. Other companies, tom, literally slashing in tens of thousands, and a central bank that has to set policy for both economies. That is a tremendously difficult position to be in as a central bank right now, and that will create distortion. Some would argue that is already happening. Tom Lisa Abramowicz, within your reading,
Laura. Jim, one of those every now and then we get a day that is truly consequential and that certainly fits at least the expectations for powells speech. I wish that we hadnt come in so hot when you have a company that gains 50 billion in one day, salesforce, when you have a tremendous number of nasdaq stocks that have just kind of out of control to the upside you dont want to have anything that could disrupt that i think its heightened, im glad were covering every minute of t david, you know that this is a day that we would normally be talking about abbott labs and talking about the mysterious tiktok mayor issue which are both huge stories but we have to defer to jay powell. We do we have to defer to powell we have to continue to understand what the fed Balance Sheet will look like with that 3 trillion thats been added to it which is a staggering sum, guys jim, your point is well taken. Yesterday salesforce i have rarely seen anything like that move, yes, they were extraordinarily st
Dozens of earnings. Softbank. Cus on nextn move it on to our terminal chart that shows softbank. They have said they will buyback 12 of their shares. Up more than 40 percent yeartodate for softbank. Dollar has been firmly in focus, given what we have been hearing from the fed. The index is down. 4 . Looking for a fifth week of decline for the u. S. Dollar. Gold is up. You have seen a little bit of softness towards the end of the session. Can it break above 2000 and stay there . Crude is at 40 a barrel, up. 8 . There is concern. Is a concern in terms of the pandemic. Point. Own one basis look at lets have a the first word news, kicking things off with the global coronavirus case levels. Passing the 17 million mark. All out with a Record Number of deaths. California had its second deadliest days deadliest day. Texas, hospitalizations dropped for a ninth straight day. Almost 10,000 people in the u. K. A earlystagen vaccine. Almost 1000 new infections in germany. The australians have a cas
Today. Retailers helped lift investor sentiment. Yes, retail. That same sector thats been struggling to keep up with fastchanging consumer behavior. Four of the five best performing stocks in the s p 500 today were retailers. Then theres the bd market. The yield curve inverted for the second time in a week. Late today t t yield on tenyear treasury bond dipped below the twoyear yield. That also forecasts a recession, and thats when it happened last week the dow fell by800 points, but not today. This time stocks held on to their gains. Fact, the dow was up more than 240 points. It closed at 26,202. The nasdaq was up 71 and the s p added 23. Ail so lets start with r and targets surprise quarter. The big box retailer blew past every wall street estimate focast thrown at it, and thats not something that you hear very often when it cometo retail, which has seen a number of Traditional Stores struggle to figure out whatsu crs want. Target soared 20 , its best n oneday g ever. Its market cap i
Relatively mixed loyal shares on track for their worst day in nine months after top line growth misses the mark in the Second Quarter dont miss our interview with jeanpaul agon at 11 30 Central European time. And apple shares jump in afterhours trade after beating expectations and returning to growth in the Third Quarter but iphone sales miss estimates. A bit of a mixed message in the european markets the xetra dax performing relatively well as is the ftse mib in italy the cac 40 in paris and the ftse in london in the red its the thick of earnings season in europe a lot of these numbers being driven by whats going on in those various markets. As we talk about some of the companies that are in focus in the thick of therapyings season, you have major reports from the financi airli airlines airfranceklm up strongly after posting a 15 rise in quarterly operating profit loreal over here in the far right corner for me is trading near the bottom of the index after posting weaker than expected