Mr Powell, Bloomberg, FED discussed on Mike McConnell


Don't be a schmuck. Time for the Bloomberg Market Minute on 700 w El jefe Bellenger. Good morning, sir. Good morning, Mike having first day of fall, right, same Tio, We have the recap of markets from yesterday what the world happened. We kissed. We got off to a sour start like the Dow fell more than 500 points. 1.9%, the S and P. 500 NASDAQ had more modest declines. The S and P lost 38 points. The NASDAQ lost 15. Today we get the National Association of Realtors report on August sales of existing homes. It comes out right after the markets open. And economists think we'll hear that sales increased by nearly 2.5% last month to an annual rate of six million. We get earnings reports today from K Be home, Nike and auto Zone, All right. The Fed chair, Mr PAL, testifying on Capitol Hill today. Yes, And he says in his prepared text that the economy is improving, but it has a long way to go to fully recover from the pandemic. Powell will be before the House Financial Services Committee in that text. The Fed chair notes that employment and overall activity are still well below their pre pandemic levels. Mr Powell will be joined today by Treasury Secretary Steven Mnuchin. All right, And lastly, we'll find out something about visors vaccine sometime soon. What do we think we know well, Pfizer, and it's a German partner by on tech or hoping to get that early indication of whether they're Corona virus vaccine works because the company's plan to take their first look after just 32 infections turned up in their trial, which involves 44,000 people. Madonna and AstraZeneca waiting longer for results to appear, but an analytics firm says visor could have its 32 cases as soon as Sunday. All right, So our future's looking like what? They are mixed. SNP futures are up one point. NASDAQ futures are up 52. But the Dow futures are down 58 this hour from Bloomberg. I'm Jeff Hullinger, unused radio 700 wlw, checking.

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