Session, not necessarily getting worse. We want to go to global exchange. We are going to bring you todays market moving news from all around the world, from hong kong to riyadh and london, to new delhi, washington and new york. We want to begin with the markets, the overarching story of that russian to safety. Lowestfalling to the since 2016. Joining me is bloombergs dani burger. Walk us through some of the big ones. Dani today is really a day of superlatives. 2016,the lowest since gold jumping to a 2013 hi. 2013 high. As evercore strategists put this, we are in a new phase of the coronavirus outbreak. That is going to give us this kneejerk, gut punch reaction in market. Credit default swaps in europe jumping the most in two years. When you look at both of those see thestoxx 600, you ftse made down, and europe has become the epicenter of the outbreak. That means markets are already very sensitive. These are high beta markets as they stand because of the economic weakness. A lot of wha
We bring you todays market moving news from around the world. Our bloomberg voices are on the ground with this mornings top stories. We want to begin with china. The government has agreed to cut import tariffs on a wide range. F goods joining us is stephen engle. Break down what we know about the tariffs, why now, etc. Stephen this comes fresh after a trade one agreement a phase one trade agreement. A gesture, yes, to show its lowering trade barriers, but it also wants to spur domestic spending for those 859 products he mentioned, from smartphone parts to food, in particular, frozen pork. All of these products will enjoy lower tariffs, and it comes as china hosts a critical trilateral summit this week that has already kicked off in beijing between china and japan. South korea will also take part. Trade, territorial disputes, military maneuverings, of course, exacerbated by north thoses posturing, and all historical animosities still persist. So those talks should be welcome. Been korea
Stoxx 600 at a record high. On top of that encouraging news out of china. The pound, 1. 3363, getting a little bit of data with manufacturing. 45. 9 but it is still also indicating contraction. Lets take a look at a share price of electoral a come of , those are down. Mark carney will present the financial report. Thats from 5 00 p. M. London time and we should be a week away from the nomination of the new bank of england governor. Lets get straight to bloomberg first word news in new york city. Boris johnson will appoint new ministers to his cabinet after his landslide victory in the u. K. Election. The Prime Minister will welcome 109 new conservative members of parliament to london. They will take their seats in the house of commons. Downing street saying the government will introduce a law to deliver brexit before christmas. That will pave the way for the eu divorce and take place by the end of january. The International Effort to rein in fossil fuel pollution stumbling after u. S.
These are your markets. There seems to have been the u. S. Saying they will remove the threat in china, which is why we have seen a little bit of moves. Awaye exactly seven days from that election. Opec meets in vienna, brent crude at 62. 91. Moncler, really the stock of the day after that report that kering, the owner of gucci, was interested in buying moncler. They do jackets for the winter, skiing jackets now turned into fashion. That stock price has gained 9. 2 . Moncler at 42. 40 two. Coming up, we talk all things fx. It thing or two to say about the pound. We will also talk about emerging markets. Lets get straight to the bloomberg first word news in new york city. We begin with fiscal stimulus. Japans government pulling out all the stops. Tokyo announcing measures to support growth as the economy contends with an export slump and the fallout from the sales hike. We have learned the total package amounts and is expected to boost growth by 1. 4 . An unexpected hold in india. R. B.
Protests turned violent. Also saw some stronger than expected inflation data out of china, raising questions about whether they can continue their stimulus the dow is higher, nasdaq down about 0. 14 . Of course, record closes last week, hence a little bit of treading water today joining us for the full first hour of the show, nancy the eveningl tengler so whats your take today . The earnings season wasnt as bad as feared, right we seem to be moving towards a more cyclical bias we had overweighted cyclicals earlier this year. It was kind of painful for a while. But it looks like manufacturing is hooking up. Still some concerns about capex, which well talk about, and so were modishly bullish and continue to find places to put money, which is always the test, right . Were going to get some of those picks later on in the show nancy, year with us for the hours. Well focus in on the big stories that we are watching here today josh lipton has details of a brewing controversy including apples