Velocity to the dollar and cash, it only have i never seen it, would say biblical times but i was not around for that. Francine i will have plenty more on that. Lets get to bloomberg first word news. Viviana we begin in china for the First Time Since january the nation reporting new cases of the coronavirus in the single digits. A month ago china reported almost 15,000 cases in one day. It is a sign of viral outbreak may be coming under control. Still the disease is spreading in the u. S. And europe. Italy has more than 15,000 cases and over 1000 deaths. The u. S. Is now up to 1500 infected. A state of emergency declared in new york city last night. To capitol hill and how House Speaker nancy pelosi saying she is near an agreement with the Trump Administration on a coronavirus bill. For paid sicking leave and more aid for those who will lose their jobs. Policy hopes to have a deal today. Investors looking to the Federal Reserve. The fed unleashing a trillion dollars but failed to help
Suffering the biggest oneday loss in two years. The dow dropping 3. 5 . The worst day since february 8, 2018 the s p losing 3. 4 . The worst day since february 5, 2018 about 5 off the record intraday highs. This morning, futures trying to pull off a bit of a turnaround after a sell off for the dow we could see the dow open up by about 80 points. The s p up by 9 points and the nasdaq up by 50. It is not much but something well see can stick in this session. Bouncing back from record points in those moves, 10year note drifi dr drifting lower twoyear note yields 1. 45 gold giving back a chunk of its gains. Currently 1,653. 40 thats comex index it is a run towards sevenyear highs. The market message is stocks tend to bounce back quickly from days like yesterday. There have been 18 drops on mondays s p 500 and the following day has seen an average gain of 1 well see if those green arrows stick. Bouncing back with a big picture in asia. Remember, tokyo was the focus. The hang seng up about.
Come back after a mixed day in asia after the dow logs its largest losing streak since august fighting words. Xi jinping insists a phase one deal must be based on Mutual Respect. And Manufacturing Activity in france and germany expanding that beat expectations you mentioned some flash data we have some more here we have the november flash numbers for the november pmi coming in at 46. 6 and services coming in at 50. 3 against 50. 6 in october and coming in at 51. 5 for november against 52. 2 last month. We saw the german and the french data that was better than expected that led to the small rise in the euro i wouldnt say it was a huge rise we are seeing the euro changing at 1. 1056 given that the french number beat consensus. The german number well below that 50 boom bust level at 43. 8 versus 42. 1 for october. The services for both countries was below forecast but maybe this points to a little bit of a stablization even though we are still looking at pretty stag nant on this lets bri
Provide an outright majority but the party more than doubles its seats. The Third Largest in parliament. Saudi announces it will sell up to 0. 5 of shares to Retail Investors and stays mum on what could be the worlds ever largest mistake. Well, good morning and welcome to street signs a check on markets and how they are fairing this morning a wall of red for asia and nikkei down a quarter of a percentage point but a big move for the shanghai currencies. Big mover in the hong kong index here this after Hong Kong Police opened fire on protesters during todays morning commute, leaving one man in critical condition. Now, these latest demonstrations come after prodemocracy lawmakers were arrested on saturday it weighed on stocks in asia, as i have been recounting shanghai actually the lowest, the most its dropped in the last four months for more inform oiation on whata been happening getting sold on rare week day violence as weekend unrest rolls over to the citywide protests on monday drops
Hopefuls push for medicare for all, President Trump may roll out his own Healthcare Plan. Millennials are into social media, but they may not be social as you think. As the song goes, one really is the loneliest number. It is monday, august 5th. Fbn a. M. Starts right now. I love you. Wait for you. I love you. Yes, i do. Yes, i do. Cheryl welcome to fbn a. M. Good morning, im cheryl casone. Im deirdre bolton. Im in for lauren simonetti. Cheryl investors are continuing to worry this morning after that trade fight escalation. More on that in a moment. Look at dow futures, were down 370 on dow futures, and the nasdaq is down 143 and a quarter. Looks like its going to be a rough morning for wall street. Thats sending some investors into bonds. If you look at the 10 year treasury, its close to a threeyear low. Cheryl reports that the iranians have seized another oil tanker continuing to affect oil but surprisingly were a little lower on the contract this morning. 54, 76, a loss of 90cents.