It is a deceptive wednesday to say the least. We are focusing on stimulus and will do that across all of uber surveillance this morning. Bloomberg surveillance this morning. The president of brazil, and this is a statement, he has a little cold, has the virus as well that is touching us all worldwide. Francine it is. We have been trying to track the virus to understand what it will become. It is clear is is a bit more under control. In china, in europe, and but it is ravaging many parts of india. It is concerning in latin america and certain parts of the u. S. We are trying to figure out what that means in terms of lockdown and what it means the impact, future impact, on any reopening of the economies. Tom without question, the zeitgeist asked america with the residents event yesterday president s event yesterday is children and back to school and what that means for the economy. News, now word to our first word news. A temporary testing site is being set up in louisiana, texas, and fl
The 10 year yield is seeing a flattening name put on. Crude oil, down 8. 7 . Dive intoa deeper what is going on. Mentiont to commodities. It is across the commodity complex. Copper futures are down. Grim Economic Outlook from the fed yesterday, plus a possible resurgence of the virus here in the u. S. You are seeing one commodity higher, that is gold. Up 8 10 of 1 . The dollar is also stronger here. A weaker dollar is a proxy for risk appetite. But the dollar is indeed gaining 8 10 of 1 . Investors are looking more for safety, less interested in risk assets. There is a lot of conviction in equity markets in particular. At the open, we saw volumes basically double over the past 20 days or so. We are still looking at volume over 24 above the 20day average. A lot of conviction in the selling we are seeing. We are seeing the cyclical rotation we all have been so excited about in recent weeks totally reverse quite dramatically. Industrials, financials, materials are the biggest laggards. Tr
Bloomberg surveillance. Im Francine Lacqua in london. This is the market. The market focusing on the number of infections. The news that we had from a lot of the corporates. U. S. Equity futures, treasuries edging higher every is there have been more and more coronavirus cases in america and countries also means that markets are basically sapping some of the appetite for riskier assets read the dollar heading for a second day of gains. I want to show you wti falling below 30 get dollars a barrel while gold continues to push toward 1800 announced. Lets get straight to the bloomberg first word news with dani burger. Dani good morning. The pentagon has named 20 chinese firms it says are confirmed by the desk controlled by the chinese military. It opens the companies up to the potential of more u. S. Sanction and that includes huawei. This comes as relations between the chinese the two superpowers deteriorated. China is likely to be a Campaign Issue in the 2020 election. Canada is the firs
How oil fits into the microeconomics of this great contraction. It is remarkable, francine, to see how the markets churn yesterday after you and i were justen we saw the fed simply come to the rescue. There is no other way to put it. Francine and the markets keep saying dont fight the fed. That was a Good Opportunity for market participants. Expecting a 60 figure, better than expected. Bloomberg first word news in new york city. Here is ritika gupta. Ritika good morning. President trump is weighing an infrastructure proposal worth nearly a trillion dollars to spur the u. S. Economy, according to bloomberg sources. The plan would reserve most of the cash for traditional work such as roads and bridges, what funds would also go to 5g wireless and broadband. Existing funding is up for renewal at the end of september. It is one of the largest of occasions north korea has made to south korea in years. Grownnguns regime has that blown up an entry Korean Liaison Office on the side of its borde
Attendance today, and the attention, i should say, is focused on the nations capital. Maybe it is an uproar to you. Maybe it is not. It is certainly an uproar inside the beltway. If you have been sleeping overnight, the Trump Administration takes fertile judicial action takes further judicial action against the former National Security advisor john bolton. His book is out, and trust me, it has been. In the news ritika gupta it has been in the news. Ritika gupta will give you the latest on that. Jonathan ferro, i am thrilled to talk to you about this. It must seem so foreign to see this. How do you, being from the motherland, how do you see all of these First Amendment debates within america . Jonathan i am not sure the United States would like to refer to the u. K. As the motherland this morning, so i will avoid my personal opinion on the matter. I do think it is amazing to witness what is happening, which is a man, john bolton, with the rare ability to upset pretty much everyone. I re