Defense and they have made tremendous progress and now have an Agreement Regarding the lot 12 13 production process. This is a new milestone to the enterprise as of 35 is the largest investment and will form the backbone of the u. S. And allied inventories for the foreseeable future. Anf in the joint Program Office are laser focused on driving cost out, quality up and achieving timing delivery of our capability to our war fighters. We respect ontime delivery, we have exceeded the total aircraft quantity we delivered to the war fighter last year in revenue to 6 ontime delivery rate. A tremendous improvement from where we were last year with an average ontime delivery rate of 64 . On quality while we have made progress, there are still significant opportunities for improvement and we continue to communicate to concerns based on the data we collect. The 34 billiondollar agreement for of 35 low Rate Initial Production 12 14 of 478 f35 aircraft. 149 for lot 12, 164 lot 13 and 169 for lot 14
The russell up nearly a full percent. The broader markets, though, flat s p just lower dow, just higher joining us for the full hour, stephanie link very good afternoon to you thanks for having me. Markets flat overall, but whats happening underneath . Massive rotation today, and it actually started over the last couple of weeks and a lot of that has to do with a little bit better Economic Data that were getting around the world. Even over the weekend, we got the export import numbers out of china. And even though they were down year over year, the trend is still definitely up. And this comes on the heels of better pmi so i think a lot of it is a little bit better Economic Data. And then its this trade talk seems to be making some sort of progress so the cyclicals are actually the ones that are leading. Its financials, tech, industrials. And within tech, its se semiconductors versus Software Software is actually getting slammed. Is it that the expectations came down too far, too fast,
S p 500 ended in the red check out these moves from citi, bank of america, wells fargo and jpmorgan all in the green. Few days ago rates were plunging birds and cats were living together now look have the banks turned a big corner i dont know about dogs and cats living together if you had to be a cat or a dog i think of myself as a dog. Its not a good question to answer on tv lets go to the markets i think what happened everything got ahead of itself. You go back to tuesday i think before memorial day we power pitched southeast banks. Citi, you know what boring market, slow week, into a holiday, market will rally tl tee gott ahead of itself. When citi discount at that discount tangible book its been a buy. Thats whats happening. I dont think again the landscape has gotten better for the markets. The trading landscape in the short term has does citi have more room yeah well undershot to 61. The head wind that they face still exist today. There are some rays of sunshine based on what the
At the open. S p looking to be up by 1 point, the nasdaq off by 1 1 4 points overnight in asia, japan was closed for a public holiday. No trading or the nikkei most of asia was digesting Economic Data out of china the Second Quarter Economic Growth gdp slowing to 6. 2 , also coming off 6. 4 in the first quarter. Thats the weakest pace in 27 years. Industrial output, retail sales data also fixed Asset Investments were all above forecast chinese shares were down before the data was released. Then they turned positive. Overnight in europe, we are looking at i thought we were going to follow asias lead, pretty much flat across the board. The dakotas is off by 4 100 of a percent. The treasury yield market, the twoyear note 1. 845 . Just mention on the china data that markets responded better to the data for the first portion of trading in asia and europe and weve just sold off a little bit in the last few hours. As you pointed out that was just for june. Gdp for all three months it did see
Still causing jenners in the auto market for obvious reasons as of the end of april the United States had a total trade value with mexico of just over 203000000000. 00 which the us accounted for importing 58 percent of that total this imbalance has put the us at a nearly 31000000000. 00 deficit with mexico just in 2019 i want comes to autos the contrast is even more stark with 2 of the 3 top imports to the u. S. Being Motor Vehicles and car parts respectively through the end of april this sector accounted for more than 21000000000. 00 worth of imports according to data from the u. S. Census bureau so while automakers can get a gasp of relief for now what could a scenario a terrorist look like in a sucher so reliant on trade here to help us break it all down is lauren fix the car coach lauren welcome back lauren autos were the major stakeholder considered at risk in this sort of contrived convers confrontation even more than agriculture because of the. A multinational nature of car prod