What's Up On Wall Street - Joanna Ossinger, Bloomberg News
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Automatically Generated Transcript (may not be 100% accurate)
Well he's back and I beat you night of course and June took the week off last week at least part of the weekend of course this -- stock market was down so now that she's back we will have a good week for stocks. Well -- -- what Ollie thanks very I like to know that I actually have all that power that I can change. What I'm looking at the futures in front of me and out doubt you're right hip -- bit thicker but I must look good as well today. Dow futures up only six points but we'll take it NASDAQ up nineteen S&P 500 up five. We've got gold trading down a dollar ten to 1671. -- US treasury down slightly one point 664 wheel is up. Married one when he won at 9736. A barrel. The reporting this all morning of this sub tropical storm Isaak has a little bit of an effect the on that oil price today. Yup and it could get worse than this all on the heels of course of the week where the stock market was down. We had up to last -- at six weeks in a row where the S&P 500. Had been in -- to positive territory last week the S&P lost seven points for the week that not that day but for the week it was down seven points or not bad. The NASDAQ down six points and the Dow Jones Industrial Average was down a 117. Points last week. This week however we've got the Republican National Convention. And we're now joined by joy in our singer from Bloomberg television in New York good morning Joanna welcome to the show are you don't. Thank you are. Curious as to whether or not the RNC would have. A positive impact on stocks. I've seen Mitt Romney's numbers rye seed now according to I believe it's The Washington Times or Washington Post I can't remember which one and an ABC poll. He is a lead over president Barack Obama about 1%. And of course but if that's the right -- The margin of errors third they're bad that event's. They didn't mention usually to get a boost the candidates and leave it there Republicans are going to try to portray their party has. The best place to revamp US economy though it could definitely get that -- to the stock market this as it as if he's essentially going higher. PLO because the I think the Wall Street in general is looking for are Republicans if they had a choice right they're put their money on not Mitt Romney. They tend to do that -- and assays stocks will go higher if you have the Republican candidate winning. So it so there could be a little bit of optimism there. There are a little bit housing data coming out this week for economic news not today but later in the week we're gonna get the case -- Twenty city index -- Ross and -- news on pending home sales -- the Bloomberg expectations for those two data points. Qaeda killer over expecting. A gain of point 5% in the price is prices after. Point 9% gain in May. And pending home sales expected to rise by eight. 1% month over month 11% year over year so we are expecting improving accounting which. Would be a good sign because that's one thing -- consumers are still struggling with the value of their own. And June alluded to her keen eyes -- tropical storm Isaac is it having an impact on oil prices on the -- and oil -- a dollar twenty today. Would he earned out of new Yorker we used are the oil traders suggesting you're gonna see. You know hundred dollar barrel oil. We could it's right around there and I would like to give kudos to -- for boosting the market this -- -- -- You. It's. But also there's a fire in Venezuela and it's sad part of the world remembered here refinery in those -- not helping things either. But I think is shutting things down your getting the notices from the companies saying that they are taking their operations offline move so they can -- at best. So it is should be oil and natural gas they're already at the highest in almost four months then they can go higher before it's done well. All right well we appreciate your time thank you very much for joining us. Take care as join -- singer in New York joining us from Bloomberg News and can. Giving us the update on no stocks and we know that already. Futures are in slightly positive territory.
