Attempt to quell protests, she said the controversial extradition bill that sparked the demonstrations is, quote, dead lam said there is no plan to restart the legislation and earlier work to amend the bill has been a failure lam suspended the bill but protests continued with calls for it to be withdrawn completely lam did not say that she is officially withdrawing the bill. She said the bill is in the coffin, the bill is dead and no one needs to worry that there will be any tactics to resume the bill in the lenggislative council term Richard Bransons Space Tourism company now planning to go public. That is according to a wall street journal report it will list shares as part of the deal with social capital company, spac. Weve talked about it in the past it was created by a friend of squawk box, spac will invest 800 million in Virgin Galactic, it will get a 49 stake. The stock market listing is expected to take place later this year. Virgin galactic so far sold 600 tickets to space at
To decision by ab inbev do can its ipo has major implications for the hong kong market. Shery lets look at how markets closed, another day of record highs with the s p 500 closing above 3000 and the dow reaching 27,332. We had tech and industrials leading the gains. Energy stocks gaining ground as crude rallies on potential impact from Tropical Storm barry in the gulf of mexico. Seeing the nasdaq up. 6 , u. S. Futures not doing much. We saw data last week showing u. S. Producer prices gaining more than expected. Still u. S. Stocks managed to rent at a record high to end at a record high. We have japan away on holiday. Sophie looking at asian futures, they are looking mostly higher but sydney looking to open lower at the start of cash trade. Japan is offline, busy start to the week. We have chinese gdp and a bunch of activity data from the mainland. Stock markets flashing Warning Signals on the china composite with the worst week in two months on friday. We will gauge reaction to the ne
Direction of Interest Rates whei he tes on capitol hill tomorrow. In the meantime, a relativ calm has settled over wall street. The dow industrials today fell just 22 points to 26,783. The nasdaq was up 43 and the s p added three points, but that calm could leado volatility when Jerome Powell starts speaking. As usual, a fed chief faces a tough task. He is under pressure from the administration to cut Interest Rates, but he has said thatne ry policy should not be influenced by shortterm political one thing is clear though. The economy may be growing, but that growth is slowing. Today some of the pieces to the economic puzzle fell into place. And the first piece came from pepsi. The Company Reported higher quarterly profit and sales. Now, part of that was pepsi specific, tied to its new products and higher pricing, but the company also said its results were helped by a strong consumer, which accou ts for mon twothirds of economic activity. Sarah eisen has more. Eporter consumers are inl
Straight day of declines the nasdaq trying to snap a twoday losing streak. Industrials the worst performing sector following a downgrade of 3m, and for more on all of this and what is sending the dow lower today, lets go to bob pisani at the New York Stock Exchange an important thing, scotty, here is were down three days in a row, and this is not so much i would call searching for direction as i would say that we really need to figure out where the market is going. Were waiting for news, essentially here were waiting to see if the fed really decides they needed to cut rates aggressively, we really need to see if there is any progress on trade. And we really need to find out if the earnings estimates are too high going into the second half of the year take a look at some stocks moving here. The good news, the low print was at the open. I see semiconductors like advanced mike row are doing well, all the metals have had a terrible year. They have no traction at all amazon has a new breako
Earlier losses closed at a record high. Thats kind of where our road map starts as it often does investors shrugging off Global Growth concerns. Stocks set to rally at the open. And records still within striking distance. Plus, broadcom eyeing symantec, my reporting added to bloomberg yesterday which broke the story. And mine. And jims give you more details. And pot shakeup, bruce linton out, telling cnbc he was fired from the Worlds Largest publicly traded cannabis company. Somewhat extraordinary. No. Wait. Having him on talking about being fired. Want him back all right lets talk about stocks. Looking to set a new milestone this morning s p 500 on track to open at an all time high. That would be the second time this week. Yesterday the index posted its seventh record close of the year take that, Global Growth concerns, take that, what did we get from edp this morning . Adp, 38,000 jobs less than expected created so what . So what i think melissa had some great commentary in last show