Kolanovic, just named number one in two categories, equity linked strategy and added to institutional researchers hall of fame. Its a big billing marko, welcome thank you, scott. Lets talk about where we are now and where we were when you made a big and important call back on march 24th, you said the following many taking into account the unprecedented monetary and fiscal measures being implemented as well unprecedented ambassador et sse over thepath month, our equity target is achievable in 2021 we sit about 4 away on the s p. It was a great call. I know our viewers want to know where you think were going now, though thank you, scott. So we are still broadly positive on the equities. As you said, we came a long way from march our price target right now is 360 for the s p 500. Obviously there is an important cat list so there is a relation based on the outcomes but broadly still positive what is it based on what can people take from this price target, which the team over at jpmorgan, w
Jobless claims. President trump scrapped his g. O. P convention as the coronavirus rages. Concerns that big tech is on a bubble. Welcome today break europe. The results came out a few minutes ago. 650 million. T was an estimated loss of 250. 1 million. Equinor posted an unexpected Second Quarter profit. They are on track to deliver on their plan for cutting costs of 700 million. It cease 2021 capex at 21 billion. It sees 20222023 at an average of 12 billion. A clear beat in terms of Second Quarter adjusted net and profit. Keeping the dividend and keeping the fullyear capex guidance on change and on track for cost cutting. Those are the main lines coming through. Well speak the the c. E. O. Coming up at 7 00 a. M. U. K. Time. Japan is closed. China is bearing the brunt of the losses. Red on the screen in hong kong and australia. A little bit of a weaker yuan. An increase in tensions between the u. S. And china given the news around the order of the chengdu consulate. Take a look at what
Bubble. The good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. The markets are focused on data in the u. S. , stimulus in the u. S. , and for july manufacturing 51. 1, instead of the 50 that was expected. The other thing we are really ,atching out for is gold, 1897 within a whisper of 1900, which will be a big psychological impact. Now lets get to the bloomberg first word news in london with laura wright. Hi, laura. Hi francine. ,rising for the first time about of march to 1. 4 million, but dropping slightly. The data comes as hundreds of billions of federal aid is set to expire. The u. S. Economy could be at risk of a double recession. A Vaccination Program for the protect ait ceases to second wave of the coronavirus. Twice as manyple as last flu season. At shots available for the risk groups will be available to everyone over the age of 50. Disney is canceling the august release of malan and delaying avatar by more than a year. Date. Ime, no
Considers a plan to order a for tiktok. Nership microsoft is in talks to buy tiktoks u. S. Operations. Of covid19 rising, but at a slower pace. Florida reporting record deaths. As of today, the 600 unemployment checks millions have been getting will expire. Next week, 200. To break down how investors are digesting this, abigail doolittle. We have to talk about this tech rally. Buteveryone, it seems, google. Abigail yes, a big rally for apple, amazon, facebook. Google the odd stock out. You and i were talking about quarters forblowup most companies. Apple, in particular, the stock had been up 5 , then in the afternoon around that news came reversed, and that is when apple took off, as though there was an invisible hand behind apple surging. It is hard to believe institutional money is buying the stock at a fiveyear high. They havent provided in outlook, but nonetheless, great results, each beating estimates. Apple and amazon beating, meeting or beating the adjusted earnings estimate pri
Its a mixed day stocks reacting to the vaccine news josh, it seems funny to ask the question about tech on a day i showed you the index is having a nice bounce back day since that index hit its high on monday, 13th it hasnt traded all that well what do you make of that well, were working on josh browns mike maybe he did that on purpose since its my first day back joe, do you want to take that same question . There we go. I was going to say this is going well so far. What i said was first of all, welcome back technology can you hear me i can hear you. Amazon was down 12. 7 . Amazon was down that its 1999 all over again understand that 1999, once the names like microsoft rolled over, they were in a multi year decline where technology under performed. Thats not the case well be witnessing right now lit be a pause that refreshes. The fundamentals are strong for Technology Technology is the economy and there you go today, youve got amazon recovering 6 of the 12. 7 decline it witnessed last