President trump saying they can pursue a deal but if it does not get done by september 15, it will shut down. We are standing by for the president to give a news briefing, where he might elaborate on his position. Also, the administration indicating it will pursue extending Unemployment Benefits on its own. Joining us now to discuss the market moves, abigail doolittle, how has been covering all the ups and downs for us. Today, a was mostly up. Sort of a perfect storm of events. Last week, we had decreed earnings reports from apple, amazon, and facebook. We also had Strong Manufacturing data in the form of the ism manufacturing number. At the end of the day, the s p 500 up. The nasdaq carving out another record high of 1. 4 . Apple and microsoft, those were the big winners. Also, biotech. Againste for a vaccine the virus. Not everyone is buying into this rally. But there you have it in terms of the big winners on the day. Over the last two days, it is incredible. 15 rabolic spike of bou
Australia. We are counting down to asias major market opens. Im annabelle. Investors keeping their powder dry with some warning of stock swings. Janet yellen admits china may retaliate against Biden Administration tariffs increases. And the albanese government announcing australias second Budget Surplus without stoking in laois and. Heidi given all the threats we are seeing sydney futures muted. A worried session on wall street will way on what the fed does and other central banks. Headwinds are building and the risk of threats on china and retaliation. Certainly not a great deal of risk appetite. Kiwi stocks looking softer, k futures Looking Glass of not making too much of a move. Its near the top of developed markets, it is what can they do a costofliving crisis. It will flesh out further expectations or hopes of race cuts. Haidi thats right, speaking with economists about the need for fiscal prudence but here is the outlook for futures online, reflects intraday caution and equities,
Its a tougher call than i thought, even on a day the dow gained 93 points s p up 5 , 4 , record highs and nasdaq climbed 7. 3 . So many crosscurrents out tlrchlts bi,. Byuy, buy, buy, buy, buy. Since 2009, a techled selloff as friday you typically get much more follow through than weve seen this time around in other words, youd expect a tech debacle friday. All right . To be followed by a second wave of selling on monday sell, sell, sell, sell, sell with moneyal rog in arollingr household name stocks. That didnt happen back into tech almost intantly heres why almost all tech selloffs triggered by earnings shortfalls from key cities. On day one, a tech company preannounce as sharply worse than expected quarter. This was friday. Often in parts of the hottest area, social, cloud, video, machine learning, Artificial Intelligence that move shocks people. Takes the breath away. Because its seen as being the tip of the iceberg others there, need to be taken down too simultaneously, instantane
And the biotech nightmare that lost more than half of its value and what sent the stock cratering. But first renewed fears over china, the shanghai falling more than 2. 5 . Industrial production, a revamp of the ipo system weighing on investor sentiment. This was chosen as the top business story of the year. 2015. So for 2016, could china but the big wild card for the markets. Tim, what do you say . I dont think so. I think we obsessed over it in 2015. China has a major credit problem and they are the biggest part of the problem. I think the things today were the drivers, the currency is at fresh lows. And the yuan, you could read it 234 terms of Deflationary Forces and read it in terms of the economy outright or a competitive deval around the world but i think we priced that in. Well get china pmi on friday night. The numbers that were out were nah. And what china is going through, people Pay Attention to. When liquidity is terrible, it makes sense people are concerned. Bigger issue i