Live from new york, at the opening bell, this is business today. Traders tread water on wednesday. Cranking up the voltage on trade tensions. Canada slaps hefty import taxes on electric cars made in china older, wiser, and ready to spend. How businesses are finding a Silver Lining in indias ageing population. Welcome to business today, im Michelle Fleury live from new york. Us markets slip at the open after the record close. More on that any moment. Lets turn our attention to markets, the dow is down two tenths of a percent right now, after the wreck a close yesterday. The snp and nasdaq have not fared so well. Traders are turning away from the Technology Stocks right now. For more on this is the chief market strategist, great to see it this morning. Are you surprised this rally is stalling . What should we read from the dow slipping back slightly . Read from the dow slipping back sliuhtl .. slightly . Good morning, i dont think they slightly . Good morning, i dont think they can slig
Morning. And the nasdaq is down by 182 points a lot of this is whats happening in europe right now. You dont just look at the oversees market but were going to take our queues from what is happening there. You can see the ftse down by 3. 4 and the other markets are down by more and a lot of this is coming in the last few hours. They could be considering a second lock down as covid cases there have soared theyre back to the levels in may. Theyre concerned about whats happening with the number of cases and the hospitalizations admissions doubling every 8 days theyre now looking at 6,000 cases a day and again theres been some talk of a potential second lock down there now they want to make sure that schools can stay open and that some businesses could stay open but just the threat of that, the potential for the second wave coming is enough to push all of the stocks in europe into the red. If you take a look at whats been happening with travel and leisure stocks they were down by 6 earlier
Coming up. The future of the Supreme Court hangs in the balance the death of Justice Ruth Bader ginsburg sparking political debate plus her friendship with Antonin Scalia coming up and Kayleigh Mcenany is here and eugene will join me at 8 a. M. Eastern. Mornings with maria is live right now this monday morning. Global markets this morning under selling pressure underway this morning, the down 207 points and cac down 153 and dax in germany down 400 points. 402 loir concerns of growing about u. K. Economy and it is going to go into a second lockdown over the coronavirus cases as they rise. People in the u. K. Who violate selfisolation rules face fines now of up to 13,000. In asia overnight decline acrossed board there as we also on heels of three straight weeks of decline in the u. S. , as you can see japan is closed for a holiday, but the worst performer in hong kong hang seng index down beaters than 2 . Hang seng down 2. As hsb shares slide to a 25year low. Weve got the news on bank th
Caixabank and bankia talk a merge. U. S. Futures are none volatile with job growth expected to grow in august a warm welcome to street signs. Happy friday it is all about markets. Wall street took a nose dive breaking a 10day win streak now the question, is this a start of a bigger rotation out of growth quality stocks into more valuable parts of the market which have underperformed europe stands to benefit thats the way many investors are thinking about it the cac 40 and the dax in positive territory. The spanish market performing very well. Getting a big boost looking to merge there. Look at the sectors. The major gains coming in the most cyclical part of the market banks up, travel and leisure, basic resources, auto round out the best resources the most defensive parts of the market underperforming, food and bev down apple shares in frankfurt fall wiping 150 billion off the market cap it speaks to the size of apple that it can lose that many man in one day we are looking at those th
Francine, but this is really extraordinary and really, really important. We have consulates in china. Clearly the chinese have said they are going to act rapidly on this. The backstory of this is intellectual property, which is nothing more than the stealing of trade secrets. Ellen not a shema in the Washington Post in recent days writing up the trial in houston phone that holds oil platform in the water. Where there is literally a court case going on about the intellectual Property Value of the foam that holds up big pieces of steel in the water. Just one example around this breaking story. Francine this also comes on the back of what we heard yesterday, right, tom . The u. S. And other countries accusing china of hacking and Getting Research information regarding covid19. Tom no question about that. Let me get a data check. Futures 17. The story is safe haven, and you see it quickly in yield, where the 10year yield has come in. 58 a vengeance,. 59, a handle. The twoyear United Kingdo