That could be the first signal we have seen of the impact of brexit and other geopolitical concerns on the chinese economy. In june, imports down 2. 3 year term. R in chinas exports better than expected, rising by 2. 9 percent in july. The market was looking for a figure of 2. 3 , well up from the 1. 3 rise in a sports year on year in june. Certainly, a big boost in terms of surplus. A big miss in terms of imports. There has been the impact of the brexit vote. Exports rising up by 2. 9 , so at least some good signals there in terms of Strong Demand for chinas exports. Still awaiting u. S. Figures to come through. Bloomberg was suggesting we should see 47. 3 billion trade surplus for july in u. S. Dollar terms. The quick math on the trade balance, 51. 5. We have to wait for these to be the be averaged out, but it still come in terms of, looking at imports and u. S. Dollar term imports. The estimate is 7 . That should be a little slower in terms of what we saw in june. Exports in u. S. D
Happy friday. Welcome to squawk alley. Kayla, myself at post nine. John is off today. Also joining us, cara swisher at re code. Good morning, kara. The ceo of blackberry, john chen will join us. First, a bit of a friday selloff to accompany the thursday selloff. The worst two days for the dow since the beginning of september. Bob pasani is on the floor. Bob. This is a slightly different feel to it than this week. Remember, we have been slaves to the oil market. Its been oil thats been a mover of the stock market this week. This is a little bit different today. Take a look at the s p 500. We started on the weak side, and basically just drifted lower all throughout the day. Remember this is an expiration date. The volume is heavier than normal. In fact, that is not bringing down the market. Whats interesting here is financials are weak. Remember something. If the expectations are for lower rate less number of rate hikes, less chance for yield curves staep steepening. Financials might hav
One of note today, walgreens we will give it up too. Items of note, the indian Prime Minister meets secretary kerry in washington, hes really doing a fullcourt press. From Madison Square garden to central park to dinner last night with the president. Where he drank only lem none water. A hearing in washington on those White House Security breaches and finally just want to point out microsoft is introducing windows 9 in india. Weve got him here in the u. S. And microsoft c. E. O. In india opening up a new data center. The white house breach is something. How did they depth that far in . The damage of it, like everybody else ive opinion in the green room whos done a tour of the white house and its spiritual, its part of america that this guy got into. Have you been in the lincoln bedroom . No, i did not sleep in the lincoln bedroom. Clearly you didnt give enough money to the clinton administration. 47. Hillary said to me something, tom, youll love it. Let me do a data check right now and
Japanese electronic giant secures a 1. 9 billion bailout. Lets have a look in on european markets. The stoxx 50 is flat. We did have weakness across europe yesterday. It was only pronounced weakness for the dax in germany off more than a percent. Partly because gdp figures were a little disappointing. Its a continuation of the unwind of qe trade dom natd market trade throughout the year so far. Lets look on what the rest of the european markets are doing today. The ftse 100 below flat. Germany and france managing to stay just in the greece. France just ticks down into the red. Italy also just below flat. Of course there has been a continuing sense of volatility of weakness in the markets. We were a little weaker earlier. We found a little bit of strength over the last half an hour or so but in general certainly nothing to write home about. Lets have a look at bond rates. They continue to be one of the key drivers of the unwind weve seen highlighted by the 10 year in germany. We look at
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