Anchor alibaba investors headed to hong kong. Under threat for the covid19 resurgence, the Unemployment Rate will jump in the next two months, and the republicans launch their National Convention on monday, with a new poll that suggests their supporters like the economy and the government handling of the coronavirus. Lets get a quick check of how the markets are trading, up 2 10 of 1 , this, of course, after we had another rally on friday session, the nasdaq gaining 4 10 of 1 . Data,e plaza positive and a record in july helped by chief borrowing costs. Homebuilders lead that round in the s p 500, which was up for a fourth straight week. We have seen really records for the s p in the last week, and the sector that gained the most ground was tech. In the moment, Holding Steady after gains on friday, but we trend, down around 10 since the march i. Taking a look at what oil is doing, reversing some of the losses we saw on friday, above 42 a barrel at the moment. We saw it pare back the wee
We have seen strength. It has reached 690. That could mean a path to a level not seen since january. The hang seng up 1. 5 . Take a look at where we are in terms of emerging markets. They are trading higher. 1 shy of a recent losses. The kospi is up. The south korean assets will be watched today as it is expected to stoper restrictions a flareup. Gold down to 1943. Lets get to first word news with Karina Mitchell in new york. Karina President Trump is welcoming a coronavirus treatment that involves blood plasma from corrupt recovered patients, saying it will be expanded to more sufferers after the fda approved its use. This makes it easier to make it accessible. Even though its full effectiveness has not been proven. The fda has concluded the treatment is safe and works. Virushas marked a grim milestone topping 3 million infections as the outbreak accelerates. New cases rose by 59,000 sunday with 57,000 people having died in total. South korea is considering imposing tighter Health Res
The bloomberg. Back to school. Boris johnson appeals to parents to send children back to class even as a resurgence in the virus in europe hits hard. Saysu trade commissioner he is profoundly sorry for attending a golf dinner in the midst of the pandemic. Of as push higher on hopes thaw in u. S. China trade relations area and markets turn their attention to this weeks virtual jackson hole and the fed fighting crisis measures. Trump and powell both on thursday. More than 100,000 people protest against the fellow russian president in rainy minsk the belarusian president in rainy minsk. We are just under an hour away from the start of cash equity trading across europe and in the u. K. Lets take a look at futures this morning. We have some decent green a percentre than half gains across the indexes. One of the reasons is optimism that the u. S. And china are going to get along a little bit better amid reports administration is telling Tech Companies they can keep working with tencent. Take
The p. M. I. Well dive deep into this in a bit. Look at the boards. The dollar still holds on to the retreat. That is helping some asian currencies out there. Ere holding on 706. We were near the 100day moving average. Were siegristance now that the dollar seems to be hovering around the twoweek lows despite the fact but were seeing the dollaryen pretty much at 168 but seeing at least six days of gains so far for the japanese currency. Watching oil price. We see it climbs once again. You are seeing w. T. I. Futures. 4 higher for brent crude. Gold snapped out of four dives declines. It is largely unchanged. Hovering around 62 basis points now. We have the First Official gauge for chinas economy in april. Weakened again. Investors are waiting to see what steps the pboc may take to bolster the economy. Our guest from citigroup joins us this morning. What is your assessment of the p. M. I. Data that we got. Nonmanufacturing. Manufacturing below the forecast. Still in expansion territory. A
We will look at the reports across the Global Supply chain. Hsbc puts 35,000 jobs on the chopping block. We will find out what the bank is doing to graphs to grapple with the outbreak. Today, you had a drop in the major averages like the s p 500. The chipmakers getting hit the hardest. This is an art this is after apple of course said they would miss quarterly revenue numbers. Means is a flight to quality, you are now down about 23 basis points or so, very curious. Where they think value is for the 10 year. As around day 180 or so. Yield on the long end, that threemonth 10 year now inverted. The most inverted we have seen it since the beginning of the month. A fairlyis going to be busy day in this part of the world. His hollande new zealand trading already. Futures looking flat in australia as well. Metals, one of the big iron ore minors is reporting earnings. Also crown casino. Gold is priced in gold priced in australian dollars is a record. Currencies, the u. S. Dollar performing fai