Quickly. And staying strong. The worlds top iron ore prices are among the highest out of china. Shery lets get you started with another check of how markets are trading at the moment. Futures underu. S. Pressure as stocks fell to the lowest level in two weeks. We are seeing it down 0. 7 . Than 2 ,00 lost more same for the dow and the nasdaq. The dow losing more than 700 points. We had the sharp increase in virus cases, adding to economic anxiety. So risk off positioning was very strong last week. We did get positive data over the weekend, signs that the chinese economy is continuing to recover and profits rebounding in may for the First Time Since november. Take a look at what oil is doing because it continues to fall. Actually, we saw a second week of declines, the second weekly decline since april. We continue to have these lower prices after a cautious rebound, now headed towards 37 a barrel for wti. We also had chesapeake filing for bankruptcy in the u. S. , one of the biggest vict
Welcome to the program, this is bloomberg daybreak europe. Lets get straight into the earnings season, a lot of earnings to get through. Deutsches telecom targeting 4 adjusted 2018, with ebitda. Fourthquarter revenue is in line with the estimate of 19. 2 billion. Were getting confirmation of the topline growth story and also new targets. The new target one of the focuses for the market going into these numbers. This is a business that has struggled to do a megadeal over in the United States. Handsanted to get their on the tmobile assets and that did not work out so they are focusing on europe. Will regulators let them meet their expectations in europe . Theyre looking to germany, and poland and the netherlands, hoping for growth there. An update on their debit in expected, that some of the earnings stories were watching out for this morning. Lets get to the risk radar and show you where we then overnight on the asian equities session. Playing catchup for the chinese market, standout pe
And donald trump in the dustup with megyn kelly. He said his comments were quote, appropriate. Shots fired in ferguson, after police and protesters attending a rally to mark one year after the Fatal Shooting of unarmed teenager Michael Brown. And it was a down week for wall street last week with the dow, the nasdaq, s p 500 all losing about 1 . The s p energy sector, the worst performing sector losing by 4 . Utilities the best performing sector. Were keeping an eye, of course, on oil prices which continue to move lower. Dow about 30 points, nasdaq, techheavy nasdaq up by 17. And we do get the sales ahead of a potential fed rate hike still at this point seems to be september. Taking a look at the cnbc global index. Mixed data were looking at. Trade right now index is seeing a gain just around a quarter. A point, as you can see coming off the highs of the day. Interestingly enough, as you take a look at european markets, greece is in fact a part of the discussion, greece hopes to continu
We see the pboc once again holding steady, keeping that yuan at a steady level. Yuanconomists saying, the can rise, it can fall, and we will combat both moves should we need to. The dax up 0. 5 . Big vote on wednesday. Angela merkel trying to rearrange her schedule to get this vote through, talking potential debt relief for greece. Trying to woo the imf to get on board with the third bailout being offered to greece. That third payment comes on august 20. We are higher across the board looking at the eurozone when it comes to equities. The euro is down against the dollar. Weve got Interesting Data coming out of the u. S. Later today. We got manufacturing, inflation, we also get fed president william, voting member, speaking on his view of whether has what happened in asia changed the Federal Reserve . Still about 5050 think we will get the goahead in september. Euro still slightly lower against the dollar. Lets have a little look at how the Chinese Renminbi is doing. Stability back on c
Need to thinkthey about, they definitely represented those in the minutes. Market moved on the back of it. I want to show you where we think on certain metrics the implied probability of a september hike is. We think it has been discredited. Of doing a number ways it. Down to 38 , this is the chart. Let me get the camera to pan down a bit. Off of the sort of move the september increase, as the market has pride back out. Last night, they were off the hooks looking at what is happening here. Edging markets around the world, paying great attention to it. Lets take a quick look at the u. S. Close. And i want to show you the emerging Market Reaction overnight. Mostly the main averages and indices in the states faded last of 1 . Down 9 10 let me show you the emerging Market Reaction, a number of voice of looking at it. This is the turkish lira. The dollar has been rising. The fed story this is interesting. You have a spike here. We pushed down to record lows on the turkish lira. A number of