And a tense weekend of protests in hong kong. There are new warnings about the economy. Lets get you started with a quick check of the markets. We ended the friday session in the u. S. We some pressure with u. S. Stocks sinking as the u. S. China trade tensions increased. There was such a wild roller as though you on ended the week down half a percent. It is worth noting it was down almost more than 1 at one point, after President Trump says the talks with china could get canceled for next week. Still, it pared back the earlier declines after we heard from a white house official that suggestions that the u. S. Might not do business with huawei anymore, they walked back the comments. Semiconductors were some of the biggest losers in fridays session. The nasdaq down 1 . U. S. Futures at the moment gaining 0. 1 . All eyes now on asia on this monday as we have markets out of action on holiday. Thats right. If you take a look at stocks in asia, they are set to kick off on a cautious note wi
Economy. Contrasting fortunes. Jp morgan cuts its fullyear forecast. Goldman sachs revenue bucks wall street trend. Shery later in Bloomberg Technology global link, we will be talking about the showdowns in washington facing Silicon Valley. Lets get a quick check of how the markets closed in the u. S. Regulatory scrutiny in congress being felt across the market as tech stocks underperformed in todays session with the s p 500 now holding the fiveday rally. We had President Trumps comments on tariffs dampening sentiments as well. Tech giants took a hit. We had Energy Producers leading some of those declines as we continue to see the selloff in oil markets. We had u. S. Bank earnings. They little bit mixed. Goldman sachs managed to jump after beating the unit. We had some strong data out of the u. S. When it came to retail sales. That sent yields higher but at the same time, chair powell speaking in france about taking appropriate measures to deal with the economy. That led to the yield l
His view on rates. Criticism of the fed, President Trump renews his attacks saying Jerome Powell and his team dont have a clue. Lets look at how markets closed. The dow fell for the first time in five sessions. Session,thin trading after the Independence Day holidays. S p 500 down. 2 , led lower by health care and utility stocks for the main focus during the session was on the very strong u. S. Labor report. 224,000,ayrolls rising leading expectations to pare back some of the fed rate cuts. You have treasury yields, 10 year yield also retake the 2 and u. S. Stocks falling from record highs. Lets see how u. S. Futures are looking unchanged. See how the asian markets are shaping up. Sophie futures are looking at a mix of potential gains in tokyo but we could see declines in kiwi stocks under pressure but marginally to the downside. Asian stocks could take cues from wall street action after the u. S. Jobs report. Speaking of jobs, Deutsche Bankers across the region will learn their fate a
There. Plus President Trump turns up accusingon china, beijing a reneging on deals in the g20. Shery a quick check of the market close. The thursday session in the u. S. , major indices closing at record highs with the dow exceeding 20,000 in the s p 500 close to the 3000 level. This despite the fact we had a tweet from President Trump complaining about how china was letting us down. Still the s p 500 was led higher by industrials. Again on chair powell testifying in congress one more time. This time on a Senate Banking committee talking about how the fed had room to ease, given the tide between inflation and unemployment seems to have broken down. The 10 year yield to spiking to a one month high after higher Inflation Numbers. We are seeing u. S. Futures unchanged. Lets see how we are setting up for the asian markets. Paul lets get a quick check on how markets are shaping up in the asian pacific. Take a look at futures in japan. Currently looking like this. They are kind of flat right
And others get ready for a new voice in the crowd as samsung prepares a new speaker. Betty good morning. Here in the markets in the u. S. , it is really the tax reform, the last minute zynga coming up from marco rubio. That dragged down u. S. Stocks. But overall it looks like central bankers are trying what we are calling dovish tightening. They are trying to move the ball forward with Interest Rates without disrupting. Mario draghi of the ecb trying to thread that line today. Paul grappling the same old problems the world developed, in terms of inflation. 7 in 2020 point does not sound terribly optimistic, does it . Betty no. No, it doesnt. Perhaps that is why markets took all of that in stride. Lets quickly pull up where the u. S. Markets ended up today. We were lower, taxes a main focus for investors. The s p down 0. 4 . Anddow lower by 77 points, tech shares, as well. Most of the major s p groups were in the red, except Consumer Discretionary stocks. A slower day in asia for you .