No nationwide lockdown thats the message from President Trump as the feds deal with a growing list of hot spots around the country and why the white house is saying it wants to cut any deal between microsoft and chinas tiktok it wants a piece of the action tuesday, august 4, 2020. Good morning im dominic chu in for Brian Sullivan today kicking off your Tuesday Morning with some stock instability. The dow down some 40 points, the nasdaq down 40 points as well. The s p off by 18 points the market rallied after capping off a win streak the dow rallied more than 400 points as you are seeing in this time lapse from yesterday. The index hitting another alltime high with the 29th record close of the year so far. The tech sector broadly higher closing in on its alltime high as well. The S P Technology center up 24 gains year to date sales force, microsoft, facebook, take two interactive, qualcomm apple, after a more than 10 gain on friday closing up another 2. 5 , the stock is now just Percent
The declines in technology and real estate shares on the stoxx 600 and then the Pound Holding on to declines we saw yesterday as figures show that the u. K. Economy contracted more than any other in europe in the Second Quarter. Plenty more of markets shortly now lets get straight will raise more questions over the governments handling of the pandemic. There are worrying signs the bounceback may run out of steam. Hard times are here. Hundreds of thousands of people have already lost their job and sadly many more will. But i will say to people, although tough decisions lie ahead for all of us, no one will be left without hope or opportunity. Up ina plans to bring tiktok in talks with the u. S. It is likely to take place as soon as this week. We are not certain what beijing hopes to achieve when bringing up the app. It comes just days after President Trump signed a ban on transactions using the app on National Security grounds. Protests in belarus. Protesters took to the streets to have
The former California Attorney general because the first africanamerican woman and first south Asian American woman on the ticket. Big revamp. They will exit all noneuropean Corporate Banking activity, and they forecast longlost loanloss provisions at 3 billion euros for the year. We will speak with the cfo of abn amro. Let me get to some of the breaking news we are getting here from the u. K. We have u. K. Gdp numbers coming through. We are looking for the month of june and for the quarterly figure. We have seen a rebound in the month of june at a. 7 . That was 8. 7 . That was ahead of the estimates. Thats the rebound for june. A rebound was expected. Quarter coming in at 20. 4 . That was with an estimate of around 21 . If you look at the year on your number, its similar. Its the extent of the losses that we saw in terms of Economic Activity in the Second Quarter. We look at things for a year on your number. Officially what we already knew because of the u. K. In the session. Saw the
Asset management lets go to wall lets check the major averages they did jump following the release of the jobs report the nasdaq 100 and some big names within it. Amazon, microsoft, netflix among those hits new milestones today. This incredible ability for the market to shrug its shoulders at the spikes in coronavirus cases around the country i mention some of those new highs. Everything from amazon to netflix to square and twilio and tesla and docusign what the you make of that ability of the market to stay focused on whats ahead . I think this is really difficult time right now for investors because you kind of have to keep three things in your head at all times the first thing is that we are having this resurgence and the data from some of the biggest cities is getting worse and worse and now out in the suburbs and in some of the states that had not been touched by this before, so you have to keep that in the back of your head at all times. Maybe it chasens you and calms you down a
Second half of 2020, there is an overlay of other stories. The pandemic story, at least in the United States, is truly front and center. I would also note the stunning close to equity markets yesterday. Call it window dressing on june 30, 2020, but we begin this july strong in the markets. Francine we certainly do. If you look at what the markets are looking at, and a lot of the focus is on the number of infections, treasuries slipping, and i am looking at a couple of Technical Glitches in europe affecting trading. We will have a full market roundup, but lets get to first word news in new york city with ritika gupta. Ritika good morning. Infectious diseases chief Anthony Fauci warns the u. S. Is going in the wrong direction. He said the country could see 100,000 new coronavirus cases a day, up from the current level of 40,000. Several southern and western states are seeing increases in infections, prompting some to put reopening plans on hold. A new poll shows 10 lead, joe biden over p