Components reporting this week including pfizer, mcdonalds, boeing, apple, exxon mobile and we also hear from facebook, google parent alphabet, we look ahead at what to expect. Turning into the market, futures pointing to higher open to kick off this week, 121 point gain on dow futures as gold shines hitting all time high closing at 2,000 an ounce as concerns debt, what about National Debt . Mornings with maria is live right now. Checking on Global Market action, in Europe Markets are mixed, slight losses in england and france at the moment. Blow to Tourism Industry. Uk putting spain in quarantine list due to coronavirus cases and other countries could follow. Markets mixed there. Hang seng and nikkei lower, china reporting june industrial profit surged 11 and a half percent. Keep in mind the numbers are put out did the communist party. Cheryl casone has more in your headlines, cheryl. Cheryl good morning. 1 trilliondollar package from republicans, more stimulus check, 1,200 with direc
Tom good morning, everyone. An exceptionally busy day here at bloomberg surveillance. Lots to talk about on the news front. Stimulus in washington or nonstimulus, the breaking news on china, and markets as well. The dollar moments ago breaks down to new week this of dxy new weakness of dxy. An ever weaker dollar index. That will be one of our themes across the hour. Our Kevin Cirilli reports a deeply divided reports on deeply divided republicans, and there are fire trucks in houston. Jonathan they are united on one thing in washington, and it is china. The consulate in houston shutting down after the u. S. Demand. We have looking up 70 times to that headline woken up so many times to that headline, so we have woken up so many times to that headline, u. S. China tensions. Gold, 1863 note an ounce. On a weekly basis, gold has had a record high. Go to the dynamics you have seen in highyield and ig. Lisa if you take a look at highyield bond spreads today, you can see to have shrunk dramati
Florida sees its biggest oneday rise, some of hollywoods biggest names test positive. And chinasotest crackdown in hong kong seem to have spurred a reaction at the ballot box, voters have turned out in the hundreds of thousands. Lets look at how the week is setting up in asia. A pretty positive lead, asian stocks will keep the rally going. About half a percent after the u. S. Stock rally extended that weekly gain on friday. The s p 500 outperforming the nasdaq for the first time in two weeks. That bifurcation will continue. Nikkei futures up 0. 3 . Trading in chicago after a three i Third Straight weekly decline, continued concerns about another wave of virus cases in tokyo and elsewhere in japan. 1 ney futures setting up for 1. 6 higher. New zealand, blue signals when it comes to trading kiwi stocks after that threeday selloff, up 0. 7 . The level of Foreign Investors piling into the kiwi market suggests we will see further outside with that golden cross, crossing the 200 day dma patt
Worse. The chip index is down 1. 7 percent. A lot of those chipmakers receive revenue from china. We also have an index called the Golden Dragon china index down 2. 2 . Those are chinese firms listed in the u. S. Of course one of the triggers for this tension was the fact the senate did pass a bill that would move to d list to delist Foreign Companies in the u. S. Not saying it is targeting china, but that would be a piece of it. We she we see more weakness for the china related shares. David that is what we see in equities. What about bonds . What about commodities . Abigail it is not a different story. The bloomberg Commodity Index is down. Broadbased selling for the metals. Gold and silver down sharply. Oil was up a little bit. That is a divergence. A solid decline. Bonds are higher, so i risk off tone. What is also higher as the bloomberg dollar index. It will be interesting to see whether or not the risk off tone holds. Last year every other day it seemed we were talking risk on r
Today. We are seeing crude fall 13 when it comes to w. T. E and the phillipines, that is one of the weaker side. But when it comes to the june ontracts, down 4 to 19 bucks. Look at what it comes to w. G. E . We are hovering around the 11 mark when it comes to new york crude, down 13. 6 . We mentioned about the United States oil fund, the largest oil fund in the world selling off e and ingsings in w. G. Unexpected move. Lets get more analysis with jp morgan asia yeah strategist. Is this starting to hurt the equity market . I think the moves that we are seeing in the oil complex is very, very specific. And looking across massive impacts doesnt i think the easiest thing to see the forward looking long data futures on Oil Prices Remains rather stable and it is not assuring. And the weakness we are seeing the new york futures is specific to the supply and storage they are seeing. I wouldnt put too much into that will market at this point. Interesting you say that, there is a divergence and