In houston. Test the shares rise after hours as Quarterly Earnings beat the streets. Profitability meets the criteria for inclusion in the s p 500. We got a report earlier today that china is moving to close a u. S. Consulate, not being seen by some commentators at as some sit as serious as hong kong. Saying that asian would likely respond to the forced closure of that beijing would likely respond to the forced closure of its consulate. The possibility of potential cuts to its larger hong kong mission. He said cutting the Mission Staff in hong kong to 100 or 200 people is an option. China has pledged to respond to the u. S. Closing its houston consulate. Will come back to that and the Market Reaction in a moment. We are of course into earnings season. Lets get some of the lines from daimler. Considerable Global Economic outlook decline in 2020. In terms of other lines, it sees a bit to be positive in 2020 but lower than the prior year. Considerable it sees a considerable decline in glo
If we can bring the board up. Gold up 0. 2 . A lot of Market Participants looking at the Earnings Results and european stocks. Now lets get to the bloomberg first word news. Hi, laura. Thanks. Global coronavirus cases have topped 15 million. The u. S. , india and brazil account for nearly half of all confirmed infections and fatalities. Texas reported its biggest daily number of deaths. Australias budget deficit is set to hit a post world war ii ecord. The deficit will be more than double what it was the past year. It comes amid a surge in spending to mitt gate the impact of the virus on the economy. There are still some challenges times ahead. We continue tonight the decisions to provide support in the economy. We do have to get back into situation revival. The employees on their own income rather than rely on taxpayer support. Francine italy funding to rescue the economy hit by the pandemic. Bloomberg has been told the extra money will be used to help businesses and provide subsidies
Morales. Also ahead united against science well look at whats driving the movement in germany against karun virus restriction is. Our top story the head of the u. N. Food agency says hes worried lebanon could run out of bread in about 2 and a half weeks David Beasleys in beirut assessing the impact of last weeks catastrophic port blast he spoke during a un briefing on the humanitarian situation there 85 percent of lebanons grain came through the devastated port the World Food Program says it sent in 50000 tons of wheat flour to beirut to stabilize lebanon supply lines to be easily says some of beirut port could be reopened quickly to restart imports kristen salumi is in new york explaining what else was discussed during that briefing. This was a chance for the humanitarian affairs chief to brief members states on the situation on the ground in lebanon and the International Response so far secretary general antonio terus called it a huge catastrophe coming on the heels of the socioecono
India may miss growth targets as the virus cripples the outlook. Intel plunged after its new chip reduction process was delayed again. The company is under pressure as customers increasingly turn to rivals for chips. We are just getting pmi data out of australia crossing the bloomberg. The pmi actually rising to a record high in july. This is a preliminary number for services coming in at 58. 5. Manufacturing pmi also higher, 53. 4 from 51. 2. Composite at 57. 9. A big jump from the 52. 7 in the previous reading. That returnecting to some semblance of normality as part of australia exit the stricter lockdown. Going forward will be key given we are seeing a fresh sixweek lockdown from victoria. Lets take a look at how we are setting up this friday session. U. S. Stocks falling to the lowest in about a week after unexpectedly high jobless claims rekindling worries of the economic recovery stalling. We are seeing more recovery when it comes to trading in futures contracts come up about. 2
Officials are asking residents and businesses to refrain from holding parties of five people or more for most of next month. The governor says the number limit was chosen after the Central Government issued vague guidelines around gatherings. Translator the message isnt very clear, so we thought we should present a concrete figure. Aichi reported 167 infections. The highest daily figure since the pandemic began. The southern prefecture of okinawa registered for a third day in a row. But its more than double the tuesdayly ltally. Now a hospital worker became the first person cononfirmed to be infected on the remote island. There are concerns whether hospitals in isolated areas will be able to cope if theres an outbreak. Tokyo continues to be the biggest hot spot with 250 cases on wednesday. The daily figure has been above 200 every day in the past week except once. In total more than 34,000 coronavirus cases have been confirmed across the country. More than 1,000 people have died. Europ