A lot of the focus is on oil, a lot of the focus on what we heard from bp. Lets get a data check. European stocks really fluctuating, failing to Carry Forward the momentum that we saw. Yesterday, we had a technology fueled rally, which got support from positive Economic Data and potential further stimulus. Today, things seem to be going a bit sideways. Treasuries maintaining some of the losses. You can see european stocks down some 0. 5 . Lets get straight to the bloomberg first word news. Tiktok has to sell its u. S. Arm by september 15 or close. That is according to president donald trump. He says he does not care who buys it, microsoft or another firm, as long as it is a big, secure american company. The president also says any sale would have to include a substantial payment to the u. S. Government. Victoria imposing a fine for anyone who violates isolation rules. Fines could be around 3. 5 thousand u. S. Dollars. Repeat offenders may see a penalty of around four times as much. Vic
Natural gas. A good have to do with some of the hot weather we have in the u. S. One Economic Data point that is important the ism manufacturing number came in this morning at 10 00 a. M. It shows us the manufacturing part of the economy is expanding. It is not just strong earnings reports from last week but we have a positive piece of data. It will be interesting to see what the payrolls report rings on friday. David brings on friday. Are they . Confident what does that tell us . The vx end, i am so glad you are bringing it up. Indexes,he volatility both are higher, telling you some folks are thinking volatility could spike. The vix curve points to a big spike of volatility before the election. Levelsic index is at seen last december and the summer of the 2018 ahead of those big selloffs. There are reasons to think that some storing clouds could be ahead. The dollar is climbing for the there are reasons to think that some storm clouds could be ahead. The dollar is climbing for the sec
Around. The nasdaq with a 1. 4 gain. The dow and the s p following suit, not quite as strongly, thanks to apple and microsoft. The 10year yield back up 256 basis points. Gold taking a little breather. To 56 basis points. To point out some of those companies i was microsoft is up. Adt is up with google taking a substantial stake in adt. Apple accounting for much of todays game. Is up as wellrck on the vaccine part of the pipeline. The markets are up today, some good signs but also some questionable signs. Manufacturing and new orders coming in above 50, so expansionary territory. Englander, in steven Standard Chartered bank, g10 fx research. Huge dynamics at play. How are you reading the current data . Tends toirstly, ism report what is happening among big manufacturing firms. The employment component was. Till soft the commentary around the strong numbers was also very cautious. I would say the impact of the numbers were a lot less than the upside surprise. Definitely, 44. 3 reading fo
Above 39, jim. But this morning, well watch maybe a tale of two cities if new york can do this as they reopen offices and hair salons i think new york is taking a big risk because new york has beening ino ing inumber one when you have the least covid, i guess maybe you can say its time to open but also to be the least covid for a little bit i know you need to do it because too many businesses that are going to go under. Just be too long and the cash flow is too low. I worry about a bit of a spike because it is great to be a state that you feel safe in and, yes, i want my, i dont have to worry about my hair being cut but yes i want these businesses open and get cash flow its been just a delight to having lost vigilance but little less nervous on fathers day pretty good. Interesting kudlow saying a moment ago he does notanticipate another nationwide lockdown but one thing that friday did demonstrate that apple and cruise lines will curtail their own operations if they sense any need for
Ter. Yes. And this is what steve had to say bit. He said this young man, is a good one, congratulations, he posted it. So cute. Do you see dates they have on there, and they are coming down. Laurie is 20 yearold. And he is 23. So after they posted this on line, lot of people said wait a minute, arent you young to be getting married. And some asked if she was pregnant. But, so she responded im 20. My pea an say is 20. When it is young, right, why wait. Then she called them young and in love. Look at that. And, it is a some people, i have seen on line some people are like yo, he need to tell her, were young you guys can wait, is what rush. Shes a great teen she should live her life. Everybody used to get married young back in the day. Average age is still 27. You get engaged in 20, 23 if they wait a little bit. My normal advice toys wait. I. Everybody normal advice to wait. They are too young. You can live a happy, life, loving and adventurous with your wife. I mean these two they are no