Daily virus cases. In some cases, records. Chancellor warns of an unemployment tragedy. Markets tick higher in spite of the dire warnings across europe. Europeile section on ends in the green after the s p dipped into negative territory. The trillion dollar gap. A 2. 4mocrats draft million stimulus bill. As mnuchin says he is ready to talk trump. We will be following this closely for you. Lets take a look at what futures are showing. Pointingfutures higher. We are looking at gains of 0. 4 . U. S. Futures also pointing higher for this friday, about 0. 25 . The pain in which contract you look at. The c anday in the gmm . The asian equities session going to the upside. Futures pointed out in the asian equity session, up 0. 4 . Indonesia, australia, india, all those markets moving to the upside. Is pushing us upwards just a little bit. We are all about the physical right now. The fed talking about the need for fiscal stimulus. Very much talking about the you of things as side well. Lets go
Welcome to bloomberg surveillance. I am Francine Lacqua in london. We are also getting a cut of an Oil Demand Forecast amid the darkening of the travel situation. If we go straight to the markets and have a look at those, the story really is with these stocks, so yesterday, the stocks had quite a big move, and we are trying to figure out exactly what that means for the earnings forecast for the future. What else i am looking at is crude oil, as you see, 42. 56, after the iaea report, and the litmus test, in terms of risk appetite, gold at 1930. Are signs of faltering after stimulus talks in washington remain at deadlock. Now, lets get straight to the bloomberg first word news. Reporter hi, francine. A warning that a failure to control the pandemic is undermining the economic recovery. The boston fed president says americas over eagerness to reopen has backfired. He is concerned many temporary layoffs may become permanent job losses. Rosengren my thought is some kind of stimulus is goin
Full circle. Rally, caps its 50 briefly touching a record before closing just below that level. The 175 days between peak to trough and back to peak make it the fastest rebound in history after a crash. Stepping up to the pressure. The u. S. Says it will impose extra tariffs on some eu goods from september 1 in its longrunning dispute over illegal subsidies in the airbus case. Plus, no compromise. Democrats and republicans point the finger at each other, as the stimulus debate gives way to electioneering. The two sides still remain trillions apart. Just under an hour away from the start of cash equity trading in europe. We are looking for german Consumer Prices. We are seeing actually a drop month over month of 0. 5 . If you look at wholesale prices from a year ago, there is a gain of 0. 5 sorry, wholesale prices from a month ago. Prices, 0. 5consumer percent drop, wholesale prices, 0. 5 gain. From a year ago, we see wholesale prices that dropped 2. 6 in july. From a year ago, the drop
The u. K. Does a uturn and bans huawei the u. K. Does a uturn and bans huawei from its 5g network. Shery breaking news out of south korea. We are getting the Unemployment Rate for the month of june coming in at 4. 3 . Now, this is lower than the estimate of 4. 5 . The Unemployment Rate falling from the previous month. We have seen a little bit of strength in the south korean economy with more positivity coming from that ramp up in government job creation efforts. Still, we have those negative effects from the pandemic with the hardhit hospitality and Retail Sectors continuing to reel. South korea losing jobs. Those removed in june from a year earlier. Still, the Unemployment Rate falling to 4. 3 . Lets get a quick check on how markets are trading at the moment. U. S. Futures rallying. We have after the market closed more positive news when it comes to the vaccine front from motor and a. In the regular session, we saw u. S. Stocks posting their biggest gains in more than a week. 7 . Thi
Still a dollars story. Bloomberg dollar index looking like the u. S. Dollar is steady in the last 12 hours, but on course for potentially its worse july in a decade. The dollar index is flat essentially. U. S. Dollar, yes, i want to focus on this because 103. 50 is a key line. Modest upside for the u. S. Dollar. Japan downgraded from fitch to negative outlook. But you could see further upside. 103. 50 is a line to watch. In terms of offshore currency in the mainland, or in china, 7. 0 is what we are looking at. The euro is modestly stronger against the u. S. Dollar. Gold and silver and the yield story in the u. S. , gold started to modestly moderate. At. 6 is what we are looking silver also taking a bit of profit. Basiseld story, just 14 points for the twoyear and under 60 for the 10 year. We will see what jay powell says on whether yield control is a discussion they are ready to bring forward for the fed. A look atets have what is going on first word news wise as we look at the u. S.