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Of one of the worlds biggest banks leaving after less than two years on the job it is a busy monday, august 5th, 2019 Worldwide Exchange begins right now. Good morning good afternoon good evening welcome from wherever you are watching i am brian sullivan. We have breaking news with regard to chinas currency it is sinking in a big way the chinese yuan traded offshore is now sliding below 7 to the u. S. Dollar. That is a threshold thats not been breached in more than a decade tough go to 2008 and the financial crisis now, as that currency falls, remember, what does it do . It makes chinese exports less expensi expensive, which some say could mitigate any positive impact from the u. S. Tariffs. Analysts are quick to note, china could retaliate more against President Trumps tariffs by further devaluing the currency you can see where it is 7. 08 this is a fouryear chart. Reme ....
A quarterly beat despite increasing costs Berkshire Hathaway including d. R. Horton and lennar weve gotten another warning from fitch, this time the Rating Agency telling cnbc it may be set to downgrade dozens of banks that could include jpmorgan chase. Lets begin with the markets. A lot of credit card data said retail was going to come in strong here. Look, the fed has tightened we know that i dont want a big jackson hole boom, but the economy the consumer is strong the enterprise is strong the weakness is, what, in trucking, in some really bad retailers . David, at times you have to play a game where you find this weakness i need to know where theres weakness give me some weakness. China go to china, young man. China is not in america i just want to give you a little well, you didnt specify geography to be fair no. But in the absolutely china is weak. I wont give out num ....
Ferro, Lisa Abramowicz and annmarie hordern. Jonathan lisa told me off last time we did this, lets get to the weekend. I will start every hour with that. Live from new york city, good morning for audience worldwide. It is payrolls friday, equity futures on the s p 500 positive by. 1 . The most important payrolls print since the last one, until the next one. Will a double down on the booming 353,000 of last month. Lisa we are positioned for heads i win, tails i win, ultimately no one is betting on a reaccelerating inflation growth and thats what we are expecting from the payrolls report. 200 k is the estimate this morning. Weve had the adp, the services component, the employment component. None of it was this big blowout upside surprise that we all feared a few weeks ago. I was going through this and every time i kept kicking myself everything about the data has been goldilocks. Its the reason why people are pricing out the idea o ....
manchin earlier back in july, but now we do have this bill that has passed the senate. it is headed to the house. it has the biggest investment in climate ever to come out of congress and $369 billion. it also has a host of health care provisions in it, including expanding those affordable care act subsidies. for the first time ever, medicare will negotiate the price of some drugs that s going to cap out of pocket expenses at $2,000 for people on medicare, and also going to limit the cost of insulin, which is a popular drug that a lot of americans on medicare use for anybody on medicare, it s going to cap that at $35 a month, and puts in new tax provisions as well. chief among them, a 15% minimum tax on some of the largest corporations in america. that s a little bit of what s in the bill. it does go to the house where we are expecting it to pass and go to president biden s desk. victor, you alluded to this. it is really the latest in a string of victories for preside ....