Cut. Unemployment is rising but so are home prices. On the edge, hong kong leader carrie lam under pressure after new reports that says she will quit if she could. We have the latest on the unrest. Kathleen it may be u. S. Labor day monday holiday, but that does not mean futures markets are trading. Lets start with the s p futures contract. 48 . Now down about Bloomberg News reported u. S. And china officials are having trouble scheduling actual talks after donald trump keeps more tariffs on the chinese. Chinese have retaliated. Trump says they will move ahead. That news is putting pressure on stocks. The dollar is pretty much flat, a little stronger. A mixed picture of a quarter of a percent. Weaker after Boris Johnson threatened a snap election. Everyone wonders what is going on with brexit . As for crude oil, with Hurricane Dorian having smashed across the bahamas, so much wreckage, heading for florida. People are wondering what is going to happen with oil demand . You have a trade
Attacked by armed, masked men. We are live in the city. Welcome to bloomberg surveillance. Lets check in first off on the markets. We see gains across European Equity indexes. That should show through in terms of u. S. Futures, as well as s p futures. Oil is down. You will see the big majors weighing on the stoxx 600 index. Maybe a turnaround of the gains we saw oil take yesterday. The u. S. 10 year yield is currently up for basis points to 1. 54, so investors feel less concerned and are selling that that. Lets get bloomberg first word news in new york. We begin in argentina. S P Global Ratings cut the Credit Rating to selective default after the nation said it would delay payment on more than 100 billion of debt. They says criteria, constitutes default, but the new terms for shortterm debt came in immediately and they will lift argentinas rating to triple c minus. Boris johnsons suspension of parliament will get an early test. , saying are ruling courts, saying it is an affront to dem
And retail sales. The industrial output question, the tariffs, trade war tensions are at play. In fixed Asset Investment, there was a view that might stabilize as a result of the bond issuance and pick up infrastructure spending. David i can tell you now that industrial output number is one ugly number. 4. 8 . The estimate was for 6 and i confirm with you guys, that should be the worst phase of growth for industrial output going back to when Michael Jacksons dangerous was top of the charging 1992. Miss we have alliancebernsteins chief economist for china. Bad numbers. 4. 8 . That is very low. It really for flex how the slowdown in reflects how the slowdown in china is happening. Currently china not only has the cycle but the uncertainty from the trade tensions. A double down pressure on the economy and it is happening. It is obvious they might need to do more because the economy seems to be slowing down a little more than what they expect. Do you think 6 growth for the full year, is th
Paul our top stories this tuesday. To make axpected formal response to the growing unrest. Breaking news on the bloomberg terminal right now. Fromve correct accounts south korea for the month of june, and it is coming. 6. 376 billion dollars for the month of june. An improvement on the may figure of 4. 9 billion. You can see the korean won. It hit 1200 against the greenback yesterday. More consternation in korea. The hardest hit countries from this ever escalating trade war. You have to remember, these june figures do not count in the current spat with japan or the u. S. China trade war. That in mind, the figure of 6. 3 billion looks good. We will await the july figures. Shery investors have a lot on their plate today to digest. Ground, one losing point 5 after u. S. Equities lost more than 700 billion of market value just on this monday as we continue to see the trade war escalation between the u. S. And china. We saw the s p 500 lose 3 . Tech and financial leading the declines. It wa
There is quite a lot going on. If you look at btps, this is the one thing we need to look at. Stocks, climbing, treasuries, slipping. Retreating. Carmakers leading the gains. Contracts also advancing after the s p 500 index close lower. Lower. Ed towe we speak to the German Economy minister and get his take on the slowing economy. Dont miss that interview at 3 p. M. London time. We are also getting some details from norways Sovereign Wealth Fund about the secondquarter performance. Dani burger has details. Not as bright as we saw last quarter. Fundss sovereign wealth 8 , they hadpoint a gain of about 3 . Comparing that to last quarters return of 9. 1 . I have been digging through some of this report and see exactly what the layout looks like. In terms of how different investments did, Equity Investments returned nearly 70 . Equity, 2. 7 , mirroring what we saw last year. The issue was the global uncertainty we saw. Keep in mind, this was the Second Quarter. This was not even before we