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Or rather, which is worse than expected. We had expectations of 0. 1 . Rishaad exactly and thats currently where we have industrial production. Coming inese are pretty much bang in line with what we were expecting. The retail sales and only showing this contraction for july. Lets get over to bank of chief chinarities economist. Headlines pretty much what we were expecting, but tell me, what sort of picture is it painting for you . That atlly, i would say first glance, this set of numbers does not look extremely encouraging. For several, industrial output ip we would have thought it would be somewhere around this in belowt still coming 5 implies that the momentum of continued industrial recovery seems to be moderating. I think that is number one that i got out of the data. Number two, if you think at investment, thats roughly in line, but we need to look at the breakdown for example properties versus infrastructure to know what is going on. More importantly, retail sales i think to a la ....
Package. El wanted 500 billion, but the hardliners were said to be pushing for as little as 350 billion. Grants ase amount in opposed to loans that countries like italy, that stricken, would have to pay back. Bloomberg eulling hardliners are ready to accept 390 Million Euros in grants so a deal can be done. A mixed picture for stocks amid a spread in coronavirus cases. Infections hit a daily record as a u. S. Congresswoman calls floridas outbreak out of control. Underways in getting in europe. We will see how the pandemic impacted phillips when we get their earnings and we had to zurich as there is a big week for the banks. Let me just tell you quickly that we have phillips earnings, Second Quarter revenue four point 4 billion euros across the bloomberg, the estimate was for four point 31 so revenue beating the estimate as far as earnings are concerned for philips. The earning ....
Yesterday. Nasdaq down 2 yesterday dow futures indicated up about 26 points, nasdaq up by 30 and s p up by two. The 10year is yielding 0. 667 andrew we have news out of washington to tell you about democrats unveiling a new 3 trillion spending bill including another round of stimulus checks up to 6,000 per household and extending the weekly Unemployment Benefits that would go through january including 107 trillion to stabilizing rent and mortgages and a cap on state and local tax reductions for 2020 and 2021 of course returning the tax bill that hurt hightaxed blue states that hurt them the hardest saying the relief bill is a big ticket for a big problem House Minority leader called the bill a waste of time and an 1800page of liberal wish list with no chance of becoming law the fight begins the latest update on the efforts to reopen america. California governor announc ....
The coronavirus pandemic. Chair neal thank you for joining me. I have the greatest personal and professional regard for the United States conference of mayors. In congress there is a small Alumni Association. A lot has to do with the fact that we had to make immediate decisions along the way that did not always receive a chorus of support from the citizenry. Days of being the mayor of springfield, at the time, the hundred largest city in the country. And i feel a great sense of personal and professional satisfaction from what we were able to do and the immediacy of it. I would start with one funny story because you have all had the same experience. I was in the office one saturday morning, i thought it was a good time to get things done. Signing letters, doing a review and there wasnt staffers rushing in or someone who insisted on talking to at the moment. And the phone ra ....
But its still down 19 for the year. This is not like the financial crisis, this is about providing proper tools and liquidity to get there the next few months. Chris we will discuss with the president and congress will do next to contain the financial fallout with treasury secretary Steven Mnuchin live only on Fox News Sunday. Plus, we will ask our sunday panel how the coronavirus is reshaping the race for preside president. And our power player of the week, a 100yearold hat maker. Assurinshe and her designs are l oneofakind. All right now on Fox News Sunday. And hello again from fox news in washington. The spread of the coronavirus here in the u. S. Has dramatically changed the way americans live. Its shaking the markets and left washington scrambling to provide care for the sick and ease the financial fallout. Here i ....