region. beaumont and the whole area. as hurricane laura s wrath unwinds right on top with more than 82% of gulf oil operations now offline. we now know where the powerful storm is headed and what it could mean for prices at the pump. by the way, exxonmobil, part of the reason stocks are see-sawing as the dow stares down one of its most epic shakeups ever. our floor show traders ready with their blue chip fantasy picks. with everybody wearing sweats and pajamas at home, why is luxury consignment site the real real jumping 35% quarter to date? the ceo is here in a countdown exclusive on the hermes effect. the top-selling luxury product being used for a high end face mask hack and the happy face it s putting on shares of her e-commerce titan. plus covid test results under 15 minutes? why you may want to go to the airport for your next covid test. how and where the company is pulling that off. less than an hour to the closing bell, let s start the claman countdown. liz: r
guy: the university of michigan giving indicators of consumer confidence, pretty much in line with that except for the current conditions number, which looks a little light. it is up in terms of where we would expected to be normally, but nevertheless, you have an 82 print there but and citation of 85. 84 last time. at headline number coming in 72.5, little lighter than the 72.9. to 10ion 2.6% five years years out. basically everything in linux of the current number. alix: we are a little worried about what is going on. underwaye call is right now, started at 10:00 a.m. they are reporting some good news in guyana. it has been a huge boon for hess is hard tobut it emphasize how bad this quarter was four at chevron and exxon, particularly with exxon not writing down any assets. joining us is mark stoeckle, adams funds ceo and senior portfolio manager. it is always good to see you. i want to start on tech. numbers were amazing. companies made made billions of dollars. on the f
michael mckee is here to help us break it down. michael: good news for those who hope the economy is recovering quickly. atufacturing pmi comes in 54.2, and the ism forecast of 53.6. take a look at the manufacturing new orders index, up to 61.5 from 56.4. at 62.1,ction number from 57.3. so a big increase in new orders and production that hopefully will keep the economy going. we heard robert kaplan this morning saying he thought things had turned around and slowed down. manufacturers at least through part of july sam some good news part of july seeing some good news. the one thing we don t have is payroll friday, the ism employment number still comes in pretty weak. from 42.1. if you incorporate that into your models, it might weaken a little bit what people are expecting for friday. alix: i am glad you said that because in europe, part of the conversation after the positive pmi was the employment and jobs picture doesn t look so good, but we are not quite there yet. i am w
ceos. we have industrials in housing covered. the initial jobs claims yesterday as well as a second potential wave of the virus in the u.s., let s get to the unemployment claims continuing their decline. jay powell said yesterday there may be millions of people who do not get back to their jobs and it may be a while before they find jobs again. joining us is michael mckee. if we had gotten this jobless claims number a few days ago the market would have said, it is not as bad as we thought, and today the narrative is different. michael: i would not try to put what the market will say into my words because we will wait and find out, but if you want to trade on disappointing news it will be the jobless claims. they declined for six straight weeks but they are still at 1.5 million. watching, iyone is non - numbers because we are not comparing it to last year, we are comparing it to last week and the continuing claims have plateaued but are still high, suggesting that what jay pow
call it. netflix yesterday closing at an all-time record high. oil a little higher as well, but still around an 18 year low. still brutal for the market. just checking in one more time they comec had before out. time now for bloomberg first take. here to discuss from our in-house team of wall street veterans and insiders, michael mckee, and damian sassower. mike, we know that jobless claims are going to be bad. we don t know how bad. i think the question is, how do markets actually respond to this, when sometimes they want to respond to bad data, sometimes they don t? michael: i m not even going to go there. yesterday we had dismal numbers on industrial and retail sales. we thought they were priced in, but apparently they weren t. you ve got to wonder if we ve priced in jobless claims because we ve talked about it so much over the past three weeks, but we are expecting 5,500,000 as a consensus. if you get that number or even a little bit below it, we will have wiped out in on