Markets slump as warnings from the fed on the need for more stimulus ignites fresh jitters. Powell and mnuchin take the stage again today. Partial measures. France cracks down on gatherings and bars but will not impose a full lockdown to stem a surge in virus cases. Do it like the germans. Richie soon act will set out a new crisis plan to protect jobs today. One proposal is for a wage top up scheme for workers who return parttime. Otherwise known here as we are under no an hour away from the start of cash trading in europe. Big drops anticipated for european stocks. You can see ftse futures down 9 10 of 1 . Dax futures down 1 . Down even futures more. U. S. Futures dont look as bad. Remember, u. S. Stocks took a big hit yesterday. Europe escaped losses. Europe has catch up play on the way down. Set, at least in the s p and dow, to stabilize. Anna absolutely. Thats a crucial transatlantic difference in time. We ended in very different places yesterday. Lets have a look at the gmm. You c
Japans chief cabinet secretary is set to win his partys leadership race, ushering in the countrys first change of Prime Minister in nearly eight years. His shot in the arm, pfizers ceo says it is likely the u. S. Will roll out a vaccine this out of aping stocks twoweek slump and oracle wins the bidding war for tiktoks u. S. Assets. The deal is said to be a partnership, not an outright sale. Just under an hour away from the start of cash equity trading throughout europe and in the u k from bloombergs european futures are positive. Futures and euro stoxx 50 futures. U. S. , but bigger gains of more than 1 across the major equity indexes. Futures rising 1. 7 on the nasdaq. Anna good morning, matt. Nice to be back in the studio. Lets get to the gmm on these markets today. Optimism around the vaccine is certainly something we are dealing with once again and a relief to see. Indonesia to the upside, south korea higher, india higher. Many markets moving higher and the msci asia up. 9 . Virus
Hold onto a recent rebound and global stocks head for a second week of losses. The European Union is giving Boris Johnson until the end of the month to back down on his controversial brexit bill. Cable holds at 1. 28. And citigroup names jane fraser ceo, making her the first woman to run a major wall street bank. She faces the challenge that alluded her predecessors, boosting the banks profitability in line with its rivals. Just under an hour away from the start of cash trading in europe. Lets take a look at where futures are pointing here on the dax, ftse, and euro stoxx 50. Futures all pointing down, although slightly lowered right now, with ftse futures off by about 0. 3 . Take a look at u. S. Futures quickly after the drops we saw yesterday, almost 2 drops. We have a bouncing futures bounce in futures. Anna lets have a look at some data out of the u. K. We are getting monthly gdp data. The u. K. Economy growing by 6. 6 in july. It is almost in line with the estimate of 6. 7 . No su
Close proximity to a president ial election. We will hear from him throughout the day and the focus will turn to the jobs report. After u. S. Unemployment claims figures even this reading of the labor market we will be joined by larry kudlow from the white house for his reaction. Lets get to our main markets story. U. S. Stock futures continue their slide after the main gauge clocked its biggest plunge in three months, tech shares took in a selloffeating that knocked down the highest flyers. To put it all in context is dani burger. 750 billion wiped off the nasdaq, a painful day especially for a lot of the retail favorites, like tesla, falling down. Let me show you how this breaks down the chart. I want you to concentrate here, the nasdaq composite versus the s p and the equal weighted version. You can see most of the past month on the way up the nasdaq leads. The green day is the biggest so far. This little chunk at the end of the chart, you can see the biggest chart is the nasdaq fal
Happened. The bears breathe a sigh of relief. But is it all over as soon as it started . The cash trade is just an hour away so lets see if this has legs. Here are your top headlines. With thes a big blow nasdaq down almost 5 . The s p severs it steepest drop since june. And suffers its deepest drop since june. Bill ackman tells market jitters the National Bank to challenge santander. So, a lot going on today, as well as german factory orders. They are now out. Ofth over month, the gain 2. 8 not nearly as much as a survey, which was 5 . Over the prior number, which was 27. 9 . Yearoveryear, its a drop of 7. 3 , which is worse than the survey drop of 6. 0 . And a slight improvement from 11. 3 on the prior numbers. So during factory orders german factory orders not shining light on this. Just under an hour away from the start of cash equity trading. Futures are down in europe. And remember, yesterday we were looking at gains on the dax of more than 1 . Then we closed losses of more than