Good morning, everybody. Welcome to squawk box on cnbc. Im becky quick with joe kernen and Andrew Ross Sorkin well start with the markets after the dow fell for the first time in four sessions. Airlines, cruz and retailers all fell during yesterday sessions those have been the volatile stocks if you look at u. S. Equity futures this morning, youll see green arrows the dow indicated up by 28 points nasdaq up by 24 and s p up 4. 5 yesterday, the dow was down 170. During the course of the morning, we were watching the futures and up as much as 250 in the morning. Weve been keeping an eye what is happening with the treadsry markets. Right now, it looks like that 10year yield is just at 0. 71 andrew good morning. Thank you. United states pulling out of talks with europe to tax tech giants Steven Mnuchin saying international talks have hit an impasse and there wasnt even room for an interim deal it threatened retaliation if they move ahead with plans of their home a number of European Compan
Every direction. The s p saw an even bigger gain. The nasdaq up by almost 3. 6 the dow futures also up. Keeping an eye on the Treasury Department seeing how the fed news will play out there the fed news is back about 0. 6 . Sitting at 0. 612 . If you watch oil prices, which has been a big indicator of demand around the globe and what is happening, this morning, wti is up about 16 . All the way back up to 17. 49. Wow, all the way back up. 17 unbelievable lets get an update on the pandemic the number of global cases that we talk about nearing 3. 2 million. I dont know how good that enough is for anything we have more than a million in the United States. New york state cases near 300,000. I dont know of the reliability that state prisons near 7 testing positive breaking overnight, california governor plans to order all beaches and state parks to close tomorrow to avoid repeating last weekends violations hot weather, the police memo leaked to several Media Outlets yesterday. Andrew to put
We will get a preview of the bloomberg screen time event in los angeles bringing together executive and industry insiders to talk the state of streaming and more. First, lets get a check of financial markets. Abigail for technology, were looking at a solid rally, up about. 3 . The s p 500 has been fluctuating. Beneath the surface, we have adobe popping amid a recent conference where ai, they were very positive on the future of ai for their company. Nvidia is higher. Citi is bullish on their september gaming data. Pelletier is up on the Army Contract they received. Relative to the nasdaq 100, it is the topperforming of the equity indexes. In october, it is up about 3 my closer to 4 . This is a different version of that month the s p 500 tech index is climbing. It is interesting because yields are influencing all parts of the market. It could be higher for longer, although there has been talking back by the fed and the haven bid on the geopolitical tensions, but we have today the dollar
Bank of america hiking its yearend s p target to 4,600 it had been 4,300. Also ahead, sources are telling cnbc that apple and goldmansachs have been planning the launch of a stocktrading feature for the iphone project was shelved last year after the markets did turn south. Could have worked on it mitsubishi you worked on it yourself no, im just going to make up a series of things because thats exactly whats called for. Well get to it with kate rooney in a minute lets begin with the markets ahead of the fed decision later on today are you encouraged at all by some of the action this morning . Look, i think that if you dont have a if you dont have a rate hike, and he talks tough, everyones okay so, if he talks anything less than tough, then we go back to that scenario where theres that holy 13 you get when theyre done i think theres a perspective that longer, higher, whatever, take off the higher, maybe a little bit longer, but theres a sense that the dont worry, be happy s p target piec
Creditors have reached a deal on a fresh bailout. This deal takes the worstcase scenario off the table and eases the fear that the country will leave the Currency Union in europe in the near term. That was enough to allow investors in europe and the u. S. To vote with their wallets and send stalks higher. By the close the Dow Jones Rose 217 points to finish at 17,977. Nasdaq gained 73. The s p 500 added 23 points. But despite the deal between greece and its creditors, there are still a number of uncertainties surrounding the countrys long material financial fate. And this deal came at a very high price, including tough conditions no one is sure is country can fulfill. A report from athens. Reporter greece is still in the eurozone but just barely. After an all night negotiating session in brussels, the country emerged with a worse deal than one they rejected a week ago. Pension reform which will force greeks to retire later and contribute more to their retirement. Higher sales taxes on