Dollars, but hes in luck and our traders are here to help him fix his portfolio and we start with the major news on gilead that weighed on the major averages gilead dropping on reports that the companys coronavirus des v remdesivir it is difficult to part through because it was halted from china that didnt have enough to finish the synopsis on these partial results were posted by the World Health Organization on its website immediately taken down, but not before the Financial Times and stat news got a hold of it. What that showed was that 237 patient were enrolled in this trial and 158 of them were on remdesivir and they had planned to enroll 453. One of the gauges they looked for for success was mortality and how many patient surs viefed at 28 days they found 14 of the patients on the drug passed away versus 12 in the control group. In a summary of the screen shot here they said that remdesivir was not associated with clinical or virological benefits. We regret that the w. H. O. Prema
The play was just extraordinary. Alix that was the winning moment at the end of the whole game. David and he didnt get up. Alix i do not blame him. The real action is going to be looking at the dollar, kind of around a two week low. Other than that, steady as she goes. The 10 year yield back by about three basis points. Crude, if itnt out is policy steady as she goes, that means more saudi production cuts. Crews wanting to kiss that 60 for crudeg wanting to kiss that six together level, waiting for toio draghi crude wanting kiss that 60 level, waiting for mario draghi. We begin with china, where the country faces and import and export deceleration in the month of august. Bloombergs enda curran has more. Just how bad was it . Pretty bad because economists were expecting exports would have grown. We had a contraction of 1. 1 , and there was evidence of a big slump in shipments to the u. S. , even as exports to europe grew, so it was clear the trade war affected all of that. The big fear
I am Francine Lacqua here. First to the markets because there is a lot going on. We are covering brexit. It is not only about brexit. There is a lot going on in the wider market. I am looking at oil. The implication of the Saudi Arabia Oil market, because the king will meet the minister for oil and petroleum. We will see what impact that has on their policy going forward. 6. 92 for oil. You can see the index unchanged. Chiefiller speaks to the executive at the herbert motor show. About brexiteaking with lord adonis soon. Said the Prime Minister plans to defy legislation requiring him to ask eu for brexit delay. That comes after the resignation why she couldnt stay on. I supported Boris Johnson and his approach and i was right to do that. The consequences now, one senior. Olleagues expelled this made my position untenable. Francine joining us now is andrew adonis. Roles in thes labor government. Lord adonis, thank you for coming on. We are back to two years ago where there is a multiple
Welcome to power lunch. Heres where we stand with the markets now. Look at this the dow here right near session highs, higher by more than 300 points that was after yesterdays big market comeback really starting staging momentum in the afternoon. Tech driving the rally today nasdaq up. And check out defense names like lockheed martin. Both hitting record highs today. Higher lockheed by 2 . Northrup by more than 2 despite the fact stocks are rallying right now, slowdown fears are still looming like a dark cloud over wall street. Steve liesman joins us with a rapid update on gdp. The numbers in the trailing quarter were good. But what is the future well, the trailing squaurt is where the action was this time around added inventory and this is the most boring part of economics, but may be the most influential. We had a run off and it ran off more in the Second Quarter remember the 2 from the government when it first came out . Were down another tenth when others were down another tenth to
More turbulence in the forecast for delta . Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, guy aed adami, and julie biel. The move coming after early tests that ozempic could be used to treat kidney failure, as well. The news sending shares of med Tech Companies plunging. Baxter hitting its lowest level in nearly eight years. And this could be just the start. Ozempic and drugs like it could find uses in treating alcohol and drug addiction, lowering blood pressure, just to name a few. So, what could that mean for the Health Care Space . We always say the pendulum swings so far. If weve swung too far in terms of it being the miracle drug, guy. In terms of names like medtronnic, it swung way too far. I mean, this is one of the Great Companies, i mean, people are selling first, asking questions later, were talking about a stock thats at a sevenyear low, which, by the way, actually in terms of valuation is probably reasonable