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Off earnings season. Trade war slowdown, china posting the lowest quarterly growth in 27 years and Silicon Valley tech lash from one of its own, peter teal calling out google, alleging, quote, seemingly treason ous acts well begin a new week, stocks on track to hit fresh record highs. Citi kicks off earnings season with better than expected results held by gains and Consumer Lending also in focus, china, slowest Economic Growth in 27 years in q2 gdp at 6. 2 for june, Industrial Production, retail sales, fixed Asset Investment all beat expectations, leading some guys to think maybe the Central Banks work is starting to filter in. I think so. The ....
suze orman is out front with answers. just in, the moment a ukrainian soldier takes down a russian jet as we re learning new details about russia training elementary schoolchildren to fight. georgia has another reporting of trump pressuring another official to overturn the election and it comes as trump s former fixer michael cohen testifies before a grand jury in new york. trump s attorney is my guest tonight. let s go out front. good evening. i m erin burnett. out front tonight, fear going global. worry of banking collapses spreading beyond the united states with mega bank credit suisse shares plummeting and a quarter of the value gone in a day and saying it s ready to bail out credit suisse with more funds in necessary and that fear ricochetting back to wall street and the dow down 700 points at one point closed down 300. shares of banks taking another brutal blow. take the regional bank first republic, it lost 20% of its value today. it is a widely respected bank ....
in the u.s., the earnings season a big focus, but right now a slightly risk off tone confirmed by the fact that there is a bid for bonds. blood 22 what is happening relative to what is happening beneath the lid, most sectors are lower, confirming an overall risk off tone we are seeing for global markets on this macro uncertainty around the respiratory virus. up top, there are three sectors. for the bulls come of the top one is a risk of sector. on bottom, we do have two sectors down more than 1%, materials and energy. this makes the day even more risk off because beneath that decline for the materials sector and energy, a bit of a selloff for the commodity complex. let s take a look at the bloomberg commodity index. down about 0.7%. on the year, why we have stocks nicely higher, the bloomberg commodity index is down more than 2%, so a divergence within the risk asset. european crude is lower. we also have copper down 1.2%. copper a tell on the global economy. whether ....
A warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Lets get to the market picture. As we said in the open, the nasdaq and s p closing at record alltime highs the nasdaq up 0. 7 the s p up 0. 2 the dow was negative, but fractionally this morning pointing to a higher open for the dow and the s p. Just slightly for the nasdaq we got to the 2. 6 level in terms of yields. Just pulled back the last couple of days from that level, but rising again today 2. 63 the yield on the tenyear holding nicely above the 2. 6 level. Dollar board for you, we lost about 0. 2 yesterday the dollar is sliding significantly today. Steven mnuchin did say on the ground in davos that a weak dollar is good for u. S. Exports. Its partly that, but really just a continuation of the trend of a weak dollar weve seen recently in europe, weve got about a third of a percent move higher for the euro we had some composite pmi numbers that came out, 58. ....