U. S. And china are trying to temper some of the repercussions trade war is having. You can see euro stocks gaining 0. 6 . The yen is also a good litmus 7. 81and you can see one of 107. 81. Tomorrow, we also have the ecb to look out for. Coming up, we speak to the former u. S. Ambassador to the European Union. Dont miss that interview at 10 30 a. M. London time. We talk u. S. Foreignpolicy and brexit. Lets get straight to the first word news. U. S. Goods to be exempted from tariffs last year were announced by china at the top of the list are pharmaceuticals and lubricant oils. Beijing is seeking to ease the impact from the trade dispute without lifting charges on agricultural item like soybeans and pork. The ministry of finance says further rounds of exemption will be released. Morgan stanleys ceo warned against the fed cutting too easily but says he supports of the reductions made so far. He made the comments at the Columbia Business School in new york. I have supported the latest fed
They were a little lighter than estimates, but still up by about 1. 6 . This is on the heels of Dollar General, that really crushed it. Heres a negative. They might see earnings on the higher end for the full year. They do not see revenue on the higher end for the full year. They see 43. 6 billion. They had seen 43. 9 billion. That could be a marginal weakness. David stock is up in the premarket a little less than 1 . You mentioned Dollar General, which has a strong showing. Alix blew outcome a really. Raised their guidance, they see fullyear sales forecasts rising. They did point out there are a large number of sales in their lower margin products, so margins will be an interesting story for them, but i think it always is for the Dollar Stores. David absolutely. The beat on earningspershare for the Second Quarter, and comp sales were up 4 . You can see they are up about 6. 5 in the premarket. Alix this will add some early optimism in the markets. S p futures up by a solid 1 , over 290
London Stock Exchange. We get perspectivy from one of the rivals terry duffy joins us exclusively here on set. But first, its still on and we are talking about the great roe rotation so many of the desks have been skeptical of maybe even poopooing at times. Showing tahoe strength here in sectors russell, banks, retail to name a few. Whats making you a believer, guy . Its a fascinating question i mean the market has an uncanny way, not that i need help making me look silly. Within a of alltime high of the s p 500. Everything looking fantastic when do i become a believer . You know, i dont know the answer to that but what ill say is the head winds havent gone away that much yes rates backed up probably a healthiy move yes the gold market not exploding up maybe the situation with hong kong has abated but its still there. The market is looking past them. I dont know how to answer the question because the concerns i have i dont think it they dont get resolved in one day. I know how to answe
Opened. It looked like we were headed for 1 plus drop. Lets get the details on what happened overnight. Time now for Global Exchange to bring you todays market moving news from around the world. Joining us on the phone from france is bloombergs maria tadeo. From hong kong, we have enda curran. Here in new york, bloombergs michael mckee. We start in france with the g7 summit wrapping up. We just heard from President Trump and indian Prime Minister narendra modi. The highlights from this morning, and what happened over the last 72 hours . Maria the conversation here was mostly about trade. European officials were concerned that perhaps donald trump would go off stripped would go off script and could signal a recession in the trade war. Goodid he had a very meeting with angela merkel. Remember, the relationship between the two of them has been rocky at times. He also said hes looking forward to working with the european union. The other big surprise was that very short trip from irans for
Copper, all getting caught up in this risk off seer. Time for Global Exchange where we bring you market moving news. From hong kong is reporter ian marlowe. From london is emma chandra. From new york and miami. Over the weekend, you had protests continuing in hong kong. However, china is seeing some positive signs the hong kong and Macau Affairs said a consensus has emerged to put an end to violence and chaos. Positive changes are emerging in hong kong, most importantly, putting an end to violence and chaos has well as restoring the order has become the strongest and broodest consensus of the hong kong society. Alix we welcome marlowe ian. Is that true or is that violence a reality . Yeah, i think its a bit of both. The violence over the weekend is certainly something that transfixed the city. You had a huge roadblock that was set on fire throwing molotov cocktails. And monday and tuesday, we had a little bit of comments coming from both the hong kong local government and today from Be