yes, that is a correction. the dow down only 5% or 6%. that is not a correction. jonathan: correction emits massive rally correction amidst a massive rally. tom: i will get you something from tiffany. jonathan: i look forward to that. data coming later. lisa: i am very curious to see with the jobs picture will be. to tom s point, this is not a full-blown recovery where people are looking at a risk on feel in the markets. we will get the july job openings data, which is the leading indicator for jobs growth. selling $35, billion of 10-year note s. also today, congress is taking a look at the u.s. china economic and security review commission. very interesting to hear what the bipartisan proposals could be about legislation to potentially penalize china for transgressions. i really want to emphasize the bipartisan aspect of this. you ve got president trump coming out against tiktok and wechat, and former vice president joe biden coming out today with a proposal to levy taxe
,ood morning on bloomberg radio good morning on bloomberg television as well. interesting markets as well. we will talk about the market in a moment, whether you need to climb back on board. let s get right to the yields right now. yields a little bit higher here. that has proven to be lower prices, stronger yield just in the last hour. jonathan: yields up about a basis point on the 10 year, but yields have been all over the place. they haven t really gone anywhere in the last week. we ve been in and around 70 basis points on the 10 year, and that is about where we are this morning. tom: we got a we ve got to touch on tiffany. i know you ve wondered over in london, and you need the tiffany china mugs for 200 pounds large. but they are not going to do it with lvmh. jonathan: i will take a pass on that. i will be spending less time there, that s for sure. the reason they are giving and the reason people are suggesting is around tariffs on french goods. it is not for me to say
three months 9 million jobs added after losing 22 million in march and april. right my fear is that this may make it so that the negotiators for the package drag things out because things are better than expected so it looks like you could make a case let s be more considerate about this that would be bad because this number does not include a lot of reclosing, the biggest increase line item was bars bars and restaurants and we know that that backfired. so i intend to i think that it s really important to keep the fire to the feet of these congress people because, boy, i just don t think i think this is the last good one bloomberg is going with the headline that says the talks last night were rancorous and really no signs brink of collapse is one of the headlines out of bloomberg. yeah. you don t think that the strength of jobs number today, jim, gives the democrats any incentive to blink i ve been debating that all morning and i think that you heard you hea
it is the 32nd time this year the nasdaq has set a record close again. this morning, we are looking at a negative picture this morning, you are looking at red ar owes. s&p indicated down by about 16 points everybody is waiting to see. at least right now, 10-year looks like it is narrowing to 2.5% jobs friday today. forecasters will expect payroll to climb 1.48 million after june gains shattered expectations a huge number this time around unemployment is expected to drop 10.6% from 11.1% from june we ll take you through 8:30 a.m. when those numbers actually hit. news breaking this morning for those of us in new york city who woke up and thought what just happened. con edison investigating wide-spread outages. as an upper westsider, no power there. you lost power? a true black out. we are in 2020, what could go wrong? i looked around and thought, it is so dark what is going on is the nasdaq going to have power. what am i going to do? here we are middown. you left connec
mark for the week. trading ate yuan 7.1631. not much movement but we will see what happens sunday night following whatever the president tells us today. 1.11.ust underneath vix trading at 29. let s get a deeper dive in today s market action with kailey leinz. be lower inay equities today but we are still positive on the week. it is a friday. that could change, depending on what we hear from president trump. as it stands, the s&p 500 is positive by 2% over the past five days. on the week, it is still the cyclical growth sensitive sectors that have been the best performers. real estate, financials, industrials. into cyclicals has wild up a bit, but the fact that they are the best performers underscores how sharp that rotation into the cheaper areas of the market was. downtioned those beaten sectors are getting beaten down again today, true for apparel and retail stocks. reported fourth-quarter sales were down 40%, but that isn t in your concentric that is an idiosyncratic sto