Wall street is looking for any clarity on stimulus following President Trumps tweets, suspending further negotiations until after the election yesterday but calling for targeted relief since then for airlines, Small Business and a new round of 1200 checks. Eli lily saying its seeking emergency use authorization for antibody treatment dr. Gottlieb says its a major step forward got a bit of reversal from yesterday. Quite so. On todays show, restauranteur danny meyer putting out a plea for lawmakers to come up with a stimulus plan. He will discuss what it would mean for the Hospitality Industry if help doesnt come through soon plus kara swisher on whether any of that will mean real change Steve Liesman has the fed update for us, and joining us to break it all down is jeff sherman from double line capital. Steve, lets start with you. Wilf, thanks. Fed officials in their meeting from september had begun to have concerns about the possibility additional stimulus would fail in congress. They
The u. K. Considers new curves in london. The rda prepares to meet with melbourne again in lockdown. Pam braces for more economic gloom with First Quarter growth data. We are expecting a steeper downward revision. Lets get a check of where mark were markets are setting up. Here Sophie Kamaruddin in hong kong. Here is Sophie Kamaruddin in hong kong. Sophie a cautious start to the month of august after asian stocks have a fourth monthly gain. We are seeing sp Futures Holding steady and looking like a soft start to this trading week. Gold futures testing 2000, bouillon extending its rise after the best month in four years while u. S. Real yields lingered near record lows. Money managers are shifting gears a touch, decreasing the bullish gold bets to a six week low at the end of july. In the forex space, looking steady with offshore yuan staying below seven. We have the aussie dollar easing its earlier drop as investors assess the lockdown in victoria state. With a earning stock, we have t
Streak that sauz the shanghai rise 16 yeah shanghai was down by 2 today. Lets see whats happening in the treasury market right now. Yields back down below 0. 6 . We havent seen that for awhile. And joe, still chuckling a little bit about football and why we care this time around not the ivies . No. But anything i see this morning it was eric chemi. I realize out on the cliffs they have that full size cardboard cutout of me so then i was thinking, you know, next week if i dont have like being here some day, i might just put it right here just have something on a loop. Less taxes, less government, more you know a welcome respite plus they got sound theyre going to pipe in sounds like the tesla, you know, the motors i saw that. Theyre going to pipe in fans cheering and i read this stuff and we go, okay i want a cutout this makes sense. Put an entire stadium full of cardboard cutouts. Yes and we all go, yeah, that makes sense. But people would do it. Because i was thinking the camera would
Down again that reopening trade getting slammed. You can see that in the airlines there all taking a hit today later, check out this ride shares of avis budget, up 300 from the march lows. Getting a boost in the red hot used car market. The ceo will join us power lunch starts right now thanks energy and financials are leading the declines today they are down way more than that stall worth technology sector. Bob has more on this Early Morning reversal same story. Teches still out performing energy, financial, other cyclicals. Not a good start to earnings season big miss on earnings and very poor guidance. Walgreens has not been a good stock. Thats real problem. I think they may be basicing market mentality banks same story Huntington Bank was 5 goes to 12 its back to 8 again. Its an invertsed v. Whats moving the market theres five things. Is the reopening going well or not. Lets call it bumpy. Is stimulus coming maybe theres less good news on treatment advancing. Thats good news elsewhe
Down jim, it was nice to hear becky give you props for the caution you have telegraphed in the past couple days. Watching your twitter feed it sounds like you are on alert for vying option at month end. You have could be cognizant of the fact that two days before july 4th the holiday are the two probably most strongest days in the entire year. I do think theres still too much froth you can watch nvidia today, there is a love affair with nvidia and the analysts which includes me. That one has to go up. The love for nvidia is so strong that you have to say, okay, that is your thats your bell cow here but i do think, again, that and, david, youve seen t there is that cohort of people who keep coming back to the airlines, keep coming back to the cruises, keep coming back to the tankers and those are the weakest part of the economy. It is, and for a reason you know the reason. I mean, look at the map, right thats really what you have to do at this point look at the map, jim weve been talkin