The brewing giant refuses to offer guidance for next year the pace of recovery, as you point out is uncertain and is very local infin yan shares jump as they point to a recovery in the chip maker. The outlook is improving within automotive, we have seen recovery. Also korea we expect that the worst is behind us. The threeway deal, President Trump says the u. S. Treasury should be paid a substantial amount of money for facilitating the part of the bid of the chinese app tiktok i think maybe a deal is going to be made it is a great asset but not in the United States unless they have the approval of the United States a very warm welcome to street signs. Lets get right to the Market Action trading has been under way about 60 minutes and has been a very turbulent hour currently about 25 basis points below the flat line. We have crossed into and out of positive territory the results front, some companies actually offering a fairly optimistic recovery on the outlook. Getting investors confide
Problems persist. The white house and democrats failed to strike a deal on stimulus. The chief of staff says the differences are still significant. Julys job report looms. Welcome to daybreak europe. We are seeing red on the screen, but it is china and hong kong bearing the brunt of the losses, and in particular tencent after the president s move to ban tiktok. In terms of what we have been seeing, the u. S. Benchmark is getting close to a record this week. Global equities heading to a weekly gain, but that perhaps faltering slightly on this latest rise in geopolitical tension. We also see some weakening in the yuan. Ae dollar strengthening on broad basis, looking at the bloomberg dollar index. Acting like that safe haven again with these tensions and concerns rising. The 10 year yield also reflecting the risk of sentiment. Lets get more details on that story as trump moves to ban tiktok. The u. S. President signed an exec at of order prohibiting residents from doing any business with
The economy we see an improvement. French and italian manufacturing also pick up in july however concerns still loom of a second wave and President Trump reportedly gives china 45 days to celtsel sell tiktok to microsoft after the white house bans it over security concerns. Happy monday. We already heard the numbers out of italy and france as well as germany and now got the euro zone overall number. That is significantly better than 51. 1. The final manufacturing employment pmi has come in at 42. 9 so better than the flash estimate and better than the june figures still in contraction territory. So firmly in expansion territory. Now i mentioned that we have a few of the individual country numbers that already came through. In france they recovered showing the expansion at 52. 4 points this was higher than 52 points they expanded for the second month in a row rebounding from the plunge triggered by lock downs in the spring. German Manufacturing Activity saw the first expansion since 201
Earnings results and a price of oil. Gold, topping 2000 and so you have gold topping 2010 same time, european stocks gaining so it is a risk off mood, high volatility for the month of august. The 10year treasury yield, steady near the lowest since march. There are signs american lawmakers are making progress on an economic aid package. Lets get to the first word news in london with laura wright. James the white house and democrats hope to have a deal on a new relief package by the end of the week. Sides remained far apart on key issues that they appear to be moving closer to an agreement. Any vote on a deal would likely not happen until next week. U. S. And china are planing to assess their phase one trade deal this month. Sources tell bloomberg the discussions between trade representative lighthizer and the chinese vice premier will take place around august 15 amid a backdrop of rising tensions between the two countries. And u. K. , lawmakers are urging Boris Johnson to be more open a
Growth play so it doesnt make sense but we will break it down. Guy we are getting some data out of the United States, wholesale inventories month on and that number has been trending lower. Trade sales coming through significantly better than anticipated, 5. 4 . The prime number was really ugly and that was 16. 9 which has been revised slightly higher but this is late data so in the rearview mirror. The claims data is more highfrequency. We got that earlier on, a little better than anticipated, lets break it down. Were looking at jobless claims coming in above one million for a 16th straight week in while it was slightly better isn what was anticipated, basically double what we saw during the first of the financial crisis. Continuing claims track the number of people claiming ongoing on a plummet benefits and that declined to the direction is encouraging. Of the hotspot states where we have seen covid flare up, texas saw a pickup in claims, arizona little changed and california dropped