Good afternoon toledo. What an inspiring time in our Great American manufacturing heartland city to welcome the next president of the United States. Thank you for comingtoday. Joe biden. Joe biden has not only been here before, he has always fought for us. Always. Vice President Joe Biden is our trusted friend. Hes like an uncle area is like a brother. And hes with us in toledo. Toledo, the home of General Motors, the most advanced transmission agility in the entire world. With an additional 39 Million Dollars of investment announced recently and also home of the worldclass jeep production platform, the largest on the north american continent. I can guarantee you without joe biden. Either of them would have survived the drastic laugh from the 2008 recession. We remember, i remember. I remember vote in congress for the recovery when it was democrats, democrats who make sure that these firms were refinancedand they pay back every penny. With interest. And i remember the republicans, ever
Jakarta just coming online. Interesting when it comes to the hang seng, we are close to those session highs for the hang seng. Cathay pacific certainly one to watch. Spike onned that brief this governmentbacked rescue plan. We come back to earth a little bit. Still seeing shares elevated a little bit. Chinese stocks slightly lower. We missed on the Inflation Numbers. Small caps in china close to 20 higher from those lows we saw. India futures also pointing positive. We are watching the dollar as well. Down for nine of the last 10 sessions. A little bit of exception with the yen, 107. 79. The hong kong dollar still on the stronger side but kyle bass doubling down on his bet against the peg. We will see what kind of demand there is. Offshore renminbi pretty much unchanged right now. Haslinda lets stay with china. Factory prices continue to fall in may. The country continues to deal with the fallout of the coronavirus pandemic. Lets cross to selina wang in beijing. Break down the Inflatio
Challenge, not only to our Public Health system and our health in general, there is an and normas challenge to our economy and chair powell and his colleagues responded to this crisis. Solutions create of with credit flowing to houses and businesses and prepare the economy so it can recover when this virus recedes. And it surely will, ladies and gentlemen. Your work, sir, and that of your colleagues, is far from over, but we are in good hands under your leadership. Indeed, leaders are tested in crisisf crisis and this tests our leadership in no uncertain terms. You have risen to the occasion. It is safe to say we and all americans have appreciated your calm, decisive leadership in this moment of peril and on behalf of of all of us at brookings, please let me commend you on the powerful example of American Leadership you have set for us all and continue to display every single day as you perform your duties. You are an inspiration and example to all of us. Today, we will shortly give yo
Government in a phase four plan. That is helping to lift equities. No surprise, you have the underperformers again starting to surprise. Nordstrom and the gap are the two strongest is in the s p right now. Those are the names rallying. You have to wonder about the efficacy of the rally. Priceslped by energy getting some stability in the u. S. Despite the fact we saw an and norma screwed inventory build of 15 million barrels. I had to actually look three times out the number because it was so big. You are seeing that risk on continuum, but i have to have doubts when you have nordstrom as the Top Performing stock in the s p. Guy lets talk a bit about what is happening in more detail in europe. We are trying to figure out what is going to happen next. Eu ministers are divided on how to finance the regions fight against covid19. Yesterday, 16 hour call. Tomorrow, they were doing again. Aance and berlin both saying deal is close. The question is, what are the sticking points, and how big ar