In almost 50 years. And india softens restrictions on rice exports. Well be live in mumbai. Welcome to business today, live from new york, i m ritika gupta. Us stocks inching lower this morning but, Wall Street is set to end september on a high. And earlier today, we saw a strong rally in asia chinese stocks surging 8. 5 off the back of more stimulus introduced by the chinese government. Joining me now is bob doll, ceo of crossmark global investments. Thanks forjoining us. Chinese stocks post their biggest one Day Rally since 2008, not seeing that feed into us markets. What are your thoughts on adding china to your portfolio . We are still sceptical. There is no question the government took a week ago are very strong, positive for china internally, but we are not sure that will spur much more demand and that is what they need. China is facing with their Debt Situation and Real Estate situation, some deflationary forces and it will take awhile forces and it will take awhile for them to
The system . Michael no. He repeated that comment today as his parts of efforts to Tell Congress they need to do more in terms of lending programs, more in terms of fiscal support. Strategy oferall letting inflation run hot or is designed over the longterm to try to help by not cutting off credit to the economy when it starts to reach the lower levels , when Economic Growth starts to help the people he was talking about, which is what they did in the last expansion. Where theill take a long tipecd first 300 billion 300 Million Dollars will go. Andlked with their chairman ceo, brian moynihan, about that program. We have a billion dollars across 1 billion across those programs. One is entrepreneurship, one is educations and job creation, and another is health. You have the healthcare crisis, which affected these communities more than other communities, and that has been statistically proven. We have been doing a lot. Recently, we announced 25 million would go in nearterm health and issue
Up 160 on the march lows. This is the Worlds Largest company. That is the degree of animal spirit being stirred around apple, tesla, all of these big tech names. You can actually make the case, as painful as it is for those long stocks, it is healthy. It is also painful for the major averages because of the weighting of some of the big stocks, about 25 going to the make a cap, 40 for the nasdaq 100. A bit healthy because of the degree of the buying power off of those march lows. David fair enough. Everything you said makes perfect sense. There has been a fair amount of top recently about our wiener version of 2000 . How will you be able to tell about our version of 2000. Notail unfortunately do the true correction and bear market until it happens. They say it start slowly and happens all of a sudden. Relative to 2000, you can make the case it is similar the trued bear market until it happens. To 2000 because it is a parabolic uptrend. That does have to reverse. 9090 degrees does not ho
Maryland in that beautiful and diverse state. He has been generous with his time, choosing to devote time and energy to our cause while leading the State Government in annapolis. We have been excited to support his chair initiative, informing the progress of other states and other governors as we proceed with the necessary work of revitalizing the economy. At the beginning of his tenure, Governor Hogan chose to work on the issue of improving our aging infrastructure and building the modern systems of connectivity that we need to build a prosperous future. Before theiority pandemic and has taken on greater importance now. Governor hogan will share some of the highlights from his initiative, infrastructure, foundation for success. We look forward to hearing the conclusions and highlights of your policy work. Governo the nga is not just about representing americas governors, its about what americas governors represent. In states all across the country, governors are working together in a
States across the country. Saying goodart by morning to you. The trendlines have not been good. There are two indicators for whats happening with employment. The Census Bureau is putting out per luminary data that indicate that the percentage of americans who are employed is declining again. And the Labor Department puts out data about initial weekly unemployment claims. Filing foreople their Unemployment Benefits for the first time. And those numbers have been pretty stagnant since the beginning of june and recently have begun to take up a little bit. Which is an indication that there are more people losing their jobs in the economy. Those indicators suggest that while we may see some jobs growth, its going to be a low number at best and thats going to suggest that this recovery is going to take a good long time. In this discussion and our anticipation of the jobs number on friday . That 600 benefit from the federal government. Looking beyond the next few weeks, how long do you think