Now were well off those worst levels as tyler and kelly were discussing financials and industrials are in the green tech though does continue to lag even though it is bouncing back. Sara, were well off the lows but in the red just about. And in the red for the week which breaks the five week win streak plus, turning the page well speak with Mark Thompson whose tenure comes to a close as of tuesday that stock climbed more than 400 under his leadership. And the ceo of Hawaiian Airlines will join us after his company scrapped change fees and hawaii struggles with increasing covid19 cases mike santoli tracking the selloff and the come back in the market josh lipton has details on a volatile day for apple and joining us to break down the moves in technology, dan niles from april hl one capital. Start us off here on the Broader Market and what you think is important. Yeah. Sara, a pretty good little day and a half rinse that we got from the highs on wednesday. Look at the s p 500 in the shap
Rise chip makers rally as apple asks suppliers to ramp up chip production cnbc learns bytedance has chosen the u. S. Bidders. A report beijing may need to approve any deal a very warm welcome to street signs. We have been digesting fresh manufacturing pmis this morning. We have heard on individual country basis already. We are awaiting the eurozone number you can see the euro has been holding firm it has been a little bit of a mixed picture with france and spain slipping into contraction. Germany and italy have held firm above the 50 mark. Based on indicators, investors were expecting a little bit of t final manufacturing pmi in line. The mix of Different Countries coming together that means the overall region has come in line with expectations. Not just europe but we got chinese data overnight and has expanded in the fastest rate in almost a decade. Thanks to a rebound. The survey came in at 53. 1 in august the fourth consecutive positive month. Ill give you a check on Chinese Markets
Jonathan of course, by all means, go on. Dir. Kudlow you had a sermon jonathan with all respect, that was not a sermon. Dir. Kudlow there are other ways to do with these problems. Throwing money at them is not the only answer. You have to create Economic Growth and incentive. We are willing to spend money. Thats not the point. The president has endorsed another round of direct mail checks. He has endorsed that. He has also endorsed continued unemployment assistance. The question is, what is the overall policy to make sure that it makes sense that there are incentives to go back to work . We have a very fullfledged plan to do exactly that. We want to reward people and the businesses they work for to go back to work. We will extend the tpt. That is part of our package. Im not going to negotiate, but that is in the mix. We have retention credit for new jobs, we have benefits for reemployment. We should give existing workers a tremendous boost to income. Even in five months it will be 1200
Of libyas capital the internationally recognized government closed back more territory from warlords police have tagged and the spain announces plans to Welcome International tourists just in time for the Summer Holiday season. Brazil has overtaken russia and now has the 2nd highest number of corona virus cases 2nd only to the United States confirmed infections are now above 330000 the death toll is more than 21000 that is based on official figures but experts say the total could be as much as 15 times higher because of lack of testing brazils infections are not expected to peak until next months states and cities are now grappling with whether to loosen restrictions or clamp down even harder the pandemic and the governments response to it is an issue which has polarized the country. My father has coronavirus and psychologically hes very affected and upset the landscape changes very quickly in a hospital one moment one person dies and another is discharged he gets very angry hes very a
Attention to that, with the ecb coming up thats a huge deal. Delivers more stimulus, and the bcp will be really under pressure, down by 4 10 of 1 , but its all about the dollar and its driving Global Equities higher. And the tension between the weaker dollar driving risk themete, and the overall has been the protest here in the u. S. Under covid. Lets break down that disconnect. Torsten, what is your best explanation for the markets versus the headlines . We have discussed why markets are doing well, and we continue to believe that the answer is on the significant firepower coming from the fed. If you change the credit market as dramatically as they have , i spreads are very close to where they were before. All of that is, in plain english, making this look a lot better today than it did a month or two ago. And you have the equity of companies with the support to the credit markets, this is probably an important reason why the equity markets continue to do well. Think the fed is making