Welcome to bloomberg surveillance. I am Francine Lacqua in london. We are also getting a cut of an Oil Demand Forecast amid the darkening of the travel situation. If we go straight to the markets and have a look at those, the story really is with these stocks, so yesterday, the stocks had quite a big move, and we are trying to figure out exactly what that means for the earnings forecast for the future. What else i am looking at is crude oil, as you see, 42. 56, after the iaea report, and the litmus test, in terms of risk appetite, gold at 1930. Are signs of faltering after stimulus talks in washington remain at deadlock. Now, lets get straight to the bloomberg first word news. Reporter hi, francine. A warning that a failure to control the pandemic is undermining the economic recovery. The boston fed president says americas over eagerness to reopen has backfired. He is concerned many temporary layoffs may become permanent job losses. Rosengren my thought is some kind of stimulus is goin
Full circle. Rally, caps its 50 briefly touching a record before closing just below that level. The 175 days between peak to trough and back to peak make it the fastest rebound in history after a crash. Stepping up to the pressure. The u. S. Says it will impose extra tariffs on some eu goods from september 1 in its longrunning dispute over illegal subsidies in the airbus case. Plus, no compromise. Democrats and republicans point the finger at each other, as the stimulus debate gives way to electioneering. The two sides still remain trillions apart. Just under an hour away from the start of cash equity trading in europe. We are looking for german Consumer Prices. We are seeing actually a drop month over month of 0. 5 . If you look at wholesale prices from a year ago, there is a gain of 0. 5 sorry, wholesale prices from a month ago. Prices, 0. 5consumer percent drop, wholesale prices, 0. 5 gain. From a year ago, we see wholesale prices that dropped 2. 6 in july. From a year ago, the drop
And irelands Pascal Donahoe is chosen at the next eurogroup president. He says the focus is to bring back jobs. I will play my part in working with all members of the eu eurogroup to make sure this group makes the contributions. The challenges are great but we will prevail and will overcome we kick off the show this morning with a major oil report crossing the latest is that the organization has bumped up its 2020 Oil Demand Forecast today but it has warned that the spread of covid19 has posed a risk to the outlook. Steves been pouring through this document and has all the analysis ill be honest, not every page i think its 81 pages i have from our friends at the iea. Its pretty much what the doctor told us oh, gosh, we interviewed him on stn a few weeks ago. The situation at the moment is its halftime in the year, of course theyre hoping for better out of the second half of the year. The commentary is casting a shadow and quite interesting. Saying, look we think things are going to reb
Stage an uprising over the euro grew presidency striking a blow to the blocks major powers. Merkel says the eu needs to combine aid with rome forms reforms in a message to the fruit before. Equities slip. Stock rallyhot cools. State funds start selling, assign the government wants to slow the surge. Daily virus cases in the u. S. Continue to hit new highs, worrying investors. Stuck in the middle. Global banks risk being caught in the crossfire of chinas new law in hong kong. U. S. Sanctions against it as compliance with one may mean breaching the other. Just under an hour away from the start of cash equity trading across the road. Take a look at futures here. We are looking at red arrows. Not a lot of size there. If you look at u. S. Futures, red arrows that are much bigger. 5 10 of a percent losses. S p down. Nasdaq looking a lot more risk off in terms of the futures contracts then european futures contracts do. What do you see on the gmm . Anna the selling you were talking about in c
For myths about mmr. Meticulously planned. This took the us threatens turkey with crippling sanctions over its military offensive place in vienna, conditions, the in northern syria, as concerns are raised course, specially made which ended about a new threat from is fighters. Up course, specially made which ended up being a circuit of 4. 4 times england suffer their first qualifying defeat in ten years. Around in order for theyre beaten 2 1 by the Czech Republic, up being a circuit of 4. 4 times around in orderfor him to complete and will have to wait a little the 26. 2 miles. It happened in vienna and many people turned out longer to qualify for euro 2020. For this extraordinary event, not a normal Marathon Race. He was running is a marathon possible assisted by guidance runners keeping pace with special technology that in under two hours . Made sure they knew all the way we will be finding out. Through if they were on time. He kenyan runner Eliud Kipchoge said for some time he wanted