Before highlighting priorities for this week, i want to address the horrific attack by Hamas Terrorists this past saturday. The United States condemns the attack in the strongest possible terms and stands resolutely with the people of israel. Turning to our priorities here ill start with the Global Economy. I am glad that some of the pestism that was expressed remains unwarranted. The Global Economy continues to be in a better place. Projections for Global Growth are roughly the same as until july and the i. M. F. Expects global inflation to continue to fall. While some countries experience slow in growth, we do not spill gofers destabilizing the Global Economy but we closely monitor Downside Risks to the economic outlook. In the United States we have had an historic strong recovery driven by the Biden Administrations economic plan. Unemployment is at 3. 8 and inflation has declined considerably and making longterm investments. Bipartisan infrastructure law the chips in science act and
It is a bank holiday. A lot of the data in the u. K. Closed. The ftse is not trading today. I still want to give you a quick snapshot of whats happening across europe without the ftse 100. It is down some 0. 4 . Dollareuro is the one im keeping an eye on for the week. Maria draghi, the ecb president , refrained from talking down the euro. This is what im looking at. Im looking at dollar. Kuroda,peak to governor a fantastic interview by Kathleen Hays. Crude oil, 47. 43. We are seeing a Little Movement for gasoline prices. It could also impact the oil prices. Lets get to the bloomberg first word news. Heres nejra cehic. Nejra in the u. S. , houston is battling unprecedented rainfall following the biggest storm in the history of texas. The down for has crippled the core of the u. S. Energy industry. Gasoline has surged to the highest in two years. The president of the cleveland fed urged her colleagues to look past recent inflation data and stick to their gradual pace of lifting Interest
Same song every morning. Good news, commute is dry for you. Hopefully staying that way for the most part. May and stray sprinkle, for the most part looks pretty quiet. Still warm but not as warm as the last couple of days. Warmer zoom on storm scan, part of the reason see the moisture build is the approach of marie. That will is still not expected to be any direct threat to our coastline. But it is going to certainly kick up the surf in the days ahead. Talk more about that as the show progresses, still category one storm, but it is still also expected to make sharp righthand turn and head back out to sea. Notice in the last few hours, little bit of clouds come, gone, for the most part, do still have pretty clear sky. Also, still quite mild. Currently mid or upper 60s across most of the region as a whole, mount pocono, coolest spot of the pack this time around, which hasnt been lately, actually been cooler at the shore, for example. But, we are expecting to rebounds nicely, and easily,
Wages are creeping up, but households still unwilling to spend. Yet more signs that the missing puzzle piece when it comes to the japanese recovery. Remainingics story elusive with this threshold out this morning. Laboroyment, the tight market staying at the lowest in around two decades. Also looking at things like retail sales and consumption lacking. Take a look at this chart. Consumers. Is this the case that so many years of deflationary mindset is shake . Ry difficult to the stubbornness of a reluctance to spend there is. Low unemployment employment. You can see when it comes to spending, living expenditure, it is not going up at all. We are going to delve a little bit more. There is no change to the picture that japans economic recovery lacks that strong driver despite expending for a fifth consecutive quarter. The longest run of gdp expansion in about a decade. Lets take a look at other markets. It is a funny start to the trading week. Large parts of Global Markets closed. The u.
Some stocks hit hard yesterday bouncing back this morning apple, amazon, netflix and invidia. Apple is helping to ush about the dow to an intra day record high lets bring in our global vins tore wall pter price. Good morning so a couple things make me nervous. We have had multiquarter runs on a lot of these stocks, an he will up more than 50 percent offer 12 months. Not a binary choice, but what do you do with it here if you have it already do you add to it or sit tight . Were sitting tight right now. Although the stock is town about down about 6 port st. Lucie t6 s i think the earnings will be better than expected. About down 6 the last few days. I think the earnings will be better than expected and with an he will you haapples waiting for the new iphone so earnings wont be exciting until they announce that new phone in september do you have an opinion about what is going to be a catalyst in the back half of the year, not just for apple, but tech stocks in general . How much of an imp