County remains in the yellow tier tonight but that may be changing soon meantime Contra Costa County has moved from the orange tier to the more restrictive red tier an increase in cases and hospitalizations is the cause for both instances for the first time in weeks not a single california county is moving forward in the states reopening system. Contra costa counties actually moved from the orange here back to the more restrictive red tier kron fours dan kerman has more on the restrictions there everything from Retail Stores to Fitness Centers will be impacted by contra costa. Countys latest round of rollbacks and its all due to an increase in covid19 weve seen or cases go up about 25 over the last couple weeks and our test go up as well and most concerning weve seen our hospital numbers of patients in the hospital due to covid. More than double from less than 20 patients to more than 40 the move from orange back to red means beginning this friday Retail Stores will be limited to 50 ca
0. 719 andrew and we have numbers to bring you this morning from United Health group just out with its quarterly numbers. Reporting Quarterly Earnings of 3. 51 per share. It beat the consensus estimate of 3. 09 revenue also above forecasts, saying that medical care trends that had been disrupted by the pandemic are moving closer to normal you are looking at that stock up just marginally this morning and we have three more financials, bank of america this hour, Goldman Sachs in the 7 00 hour and then wells fargo in the 8 00 hour. Joe. Thankthanks, andrew. Another Clinical Trial halted over safety concerns, eli lilly late stage trial has been paused by u. S. Health regulation tors it used a Health Sample from one the first patients recovered from coronavirus ill given you more details. Because it leaves out something important. Of the trials ongoing of the antibody, they decided to add remdesivir along with the antibody and that is when they had to halt the trial for some kind of safety
Coming up, a hud payrolls number is met with cool wages and report spurs investors to lock in the rate cut. With all of the focus on the fed , credit issue it sets another record. We begin with the big issue. Fed watchers soak in the data. This is an ambiguous report. A positive story. Jobs numbers have exceeded expectations consistently. This economy is not as fragile as people think. Labor Market Holding up. The market will interpret this as good news. The soft landing is priced in. You have to take the fed at its word that three cuts is probably the likely place. It is still a solid economy but it is moderating. It is a matter of when, not if. We are thinking the fed can orchestrate the soft landing but they have to cut. Sonali lets start with a look at the jobs numbers because you could call this the best of both worlds. The nonfarm payrolls report posting a 275 gain where you saw 200,000 expected. What does that mean in terms of the rest of the data . You saw weaker data in the un
To digest this weeks Economic Data here are three beneficials. Susan collins will speak soon and John Williams the president of the new york will give the keynote. We have had a flat day in stocks. Mass dog breaking into the red, down. 3 . The s p is still in the red. Two year yields are down. 03 and bitcoin going parabolic breaking above 62,000 less than 7000 from an alltime high and will talk more about that later. Midday movers on the equity side. We have used and bitcoin and marathon digital have seen gains. We are also looking at beyond meat sore after delivering a better than expected forecast. Ebay shares are up the most since november 2022 after a buyback plan. United health with the biggest declined by 4. 8 5 on the day. The u. S. Initiated an investigation into the largest u. S. Health insurer. When it comes to the fed, Mark Mccormick gave his to take when they have their first cut. We believe they will cut ma, growth is slowing but not catering. Sonali lets bring in policy e
Welcome to daybreak asia, to you live from new york, sydney, and cutting down to the major market opens in asia. The top stories issue sops up ahead of the u. S. Holiday, traders looking at jobs reports and putting bets that the fed is near the end of the tightening cycle. Country garden said to have made a payment on a bond with a separate you on no. And softbank lining up biggest customers as Strategic Investors for their multibilliondollar chipmaker ipo. We are seeing some Downside Pressure today, but muted after the s p 500 saw its best week since june. We are in the Labor Day Holiday weekend in the u. S. , heading towards thin trading. What akin to friday it was interesting because u. S. Stocks rose but they faded after an initial rally as bond yields started climbing. We have a Strong Manufacturing number offsetting that optimism from the jobs data which showed more than of a controlled cooling which could perhaps lead to the fed pausing on its tightening again in september. We a