All right, Donald Trump presently in this race might mean even in the polls, but leading when it comes to some of the big Tax Cuts hes looking to enact, not only bringing back and extending the Tax Cuts that dominated his presidency, but no tax on tips, no tax on Social Security benefits, no tax on overtime and some have been picked up by the Harris Campaign. First to trump and the big sell he had with that in Las Vegas where youll find our Mark Meredith right now. Mark, back to you, my friend. Neil, good morning to you. For months, voters have been giving Donald Trump an edge over democrats when it comes to the economy and now, trump is doubling down on his pledges to cut everything from Overtime Pay to tips and even Social Security benefits. It could resonate in the Swing State and especially in nevada as you know has a heavy hospitality industry. When im back in that beautiful White House, well have larger Tax Cuts for workers and a special tax that here is going to do i think to do
Bloomberg television, starting at 9 00 p. M. Eastern. Along the gulf of mexico, the texaslouisiana border is reeling after hurricane laura unleashed a wide swath of destruction, with winds reaching 150 miles an hour after coming ashore. It is now churning over louisiana. It could lead to more than 15 billion in insured losses. One of the top talkers on wall street, meantime, news of wall street joining microsoft to make a joint bid for the social media sensation tiktok. Now aligned with oracle. For more, i want to get to scarlet fu in new york. A lot tied to these remarks from the fed. There was a lot of gyration in jay powells remarks. In the case of equities, the fed moved it higher. The dollar moving higher. Bonds falling. In no rush bank is to raise interest rates. It will let the job market run hotter and inflation run higher, potentially overshooting the 2 target, before taking any kind of action. In the end, we saw financials get a boost. They benefit from a higher yield and a s
Net income coming below estimates. Revenue jumped by one third. Jeff bogged shows us joins us later on. China tensions rise further. U. S. Colleges are being told to offload holdings of Mainland Companies amid warnings of a wholesale sale of stocks from american exchanges. Shery lets get you started with a quick check of the trending markets. U. S. Futures opening flat. This after reaching a record high. Finally passing the february high after failing several times in the past week. The s p 500 was led higher by consumer stocks. Propelled by tech shares. The quickest rebound on record. Fastest ever return to a record after a drop of at least 20 . We are still headed for the fifth straight month of gains. The longest winning streak since september of 2018. Take a look at the dollar at the moment. Still under pressure after it fell to the lowest level since may of 2018. Gains itte most of the got during the u. S. China trade tensions in the past two years. Heres how oil is trading. Wti h
Colleges are told to offload holdings of mainland companies. Australia signs a deal to make any covid19 vaccine for all. The government will distribute should it prove successful. More vaccine optimism playing out in australia. Lets look at how we are shaping up in terms of the u. S. Future session. Another renewed push of momentum in u. S. Markets overnight, hitting the record, propelled again by the same names. Also betterthanexpected u. S. Housing data. 2016 helping out sentiment, as well. We have positivity when it comes to the active futures trading at the moment. The nikkei 225 trading in chicago, looking flat at the moment ahead of a trade balance numbers, as well as machinery orders. We do have the topix, best performer in terms of Global Markets so far in this month of august. We are looking at broad weakness when it comes to the u. S. Dollar. The dollar sinking to his lowest levels since may of 2018. Im worried about the u. S. Economy with yet no relief package, stimulus pack
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, 10year 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 well 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 widespread 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 connecticut to come to