Pmis, this is essentially data that came out before brexit. We had the vote last friday. Juneacturing pmi for rising. Germany manufacturing came out five minutes ago. Thats rising at 54. 5. The picture for eurodollar at 1. 1108. Lets get you what the european stocks are doing overall. Asian stocks were gaining a touch. I guess we lost a little bit of momentum in europe. Worldou look at the msci index through the week, not adjusting it for currencies, at the same levels we saw last friday. 0. 1 . X index gaining lets get to the first word news. Nejra data out of japan shows another lackluster month for the worlds Third Largest economy. Retail sales and Household Spending stagnated, and inflation fell 0. 4 from a year before. Manufacturers Confidence Health study, although the survey was almost wrapped up by the time the brexit turmoil emerged. The latest figures show chinas Manufacturing Sector treaded water in june. Pmi fell to 50. The services sector, he continue to improve with the o
Surveillance. I am Francine Lacqua in london, tom keene in new york. The banks are the biggest industry losing ground in europe and you have Credit Suisse, ubs and commerzbank down between 7 and 8 . Tom i would note when i walked in the door american oil was below 40 a barrel. Francisco blanch is going to join us in a bit, but it is a deceptive tuesday. There is a lot going on. Francine lets get to the bloomberg first word news. Japans economic stimulus plan will increase spending by 45 billion this year according to a draft being discussed by the ruling party today. It includes lowcost loans and money for infrastructure and disaster relief. They have been hurt by a stronger yen and week consumer spending. Australias central bank has cut Interest Rates to a record low. They lower the cash rate by a quarter percent to 1. 5 . Inflation and wage growth are at record lows. Warren buffett is challenging donald trump to meet him anytime and anyplace to reveal their tax returns. While campaig
It is the end of the quarter. Thursday, i am ahead of myself. It is job state. This is what the markets are looking like. We had a bit of a reversal. European stocks down to 1. 1 . Asian stocks still higher but on the day a little bit lower. You can see crude, 38. 8. That is putting a lot of pressure coming from the Mining Sector at eurodollar, the week in terms of dollar weakness. I want to show you copper because it is down a touch. We are getting some breaking news. Chinese data, lets get straight to bloomberg first word news with nejra cehic. Nejra britain might vote to leave the union to help keep Consumer Confidence at the lower level lowest level in more than a year. A gauge of expectation for the Economic Situation over the next year was at 12, down 18 points from year ago. Blackrock is planning to cut 400 jobs in what may be the biggest round of layoffs today at the Worlds Largest money manager. 2 duction are equal to 23 . To the percent. 3 . E are expected to to donald trump
Countdown. On the bottom of your screen, 1000 jobs are under threat. That is a story that nejra cehic will bring you in a little bit more detail. Story. Come on that backstopping the banks. Italian banks will be in focus once again, more details on the function. It is not a backstop bank, it is a backstop front. 3827 backan real, impeachment. The real is making its way up higher. 2. 8 yesterday. What you have here is politics, the new alpha in this market. Economists lowering the view in terms of what we look at for rates. Potential for recep leavy rousseffving leaving has emboldened oil is down 0. 3 . Goldmans doha will do little to boost prices. Kuwait having production at a 40year high. At the bottom of your screen, you have a break off trend. The relative strength indicator says that yen was overbought, dollar was oversold. You have this reversal of fortune. Temporary or longterm . We will discuss that. Sean solomon is here, good morning. Soloman is here, good morning. Assuageis is
Were going to go to Luigi Zingales. Officials sayan hellfire missiles were aimed yesterday at an Islamic State executioner. There is a high degree of certainty that he was killed. Was shown in video released by militants beheading half a dozen hostages. The peshmerga raise their flag today in the northwest iraq the city in the north in a northwest iraqi city. They control the road that was a key Islamic State for the first time in a half a century, man market soon be ruled i a civilian government. The election victory in the is the Opposition Party empowering them to name a president and inform and form a new government. And donald trump attacks ben carson. Calls iowans it happened last night during a campaign stop. E mocked carson trump says he is shocked that iowans are backing carson. Trump how stupid of the people of iowa . How stupid of the people of the country to believe this crap . So here is the good news. He is now saying all of that stuff happened, because otherwise he is a