The day. This is sort of translating over into the equity markets as well. The risk off tone continues after a 3 selloff yesterday. We got some of that tension in the last two hours or so, with china saying we violated the agreement given the 10 tariffs. They are vowing to retaliate. We have a read now on the u. S. Consumer. Walmart earnings are coming out. Let me jump over to that. The risk off sentiment continues. David earningspershare was a beat, 1. 27. Their target comps beat estimates, samestore sales. International sales were down a bit 1. 1 ,. A little bit of a leavening there. Also a beat on the revenues. Good numbers here, and it looks like in the premarket, it is up well, that has it down 3 10. My terminal has it up. Taylor i think it is because they are boosting their fullyear growth target. Analysts were hoping for a beat, hoping for them to shrug off some of the trade concerns and tariff concerns and boost that fullyear adjusted earningspershare growth. Indeed, that is wh
Above its all time high after last weeks major sell off. Falls to the bottom as th Worlds Largest miner delivers a strong full year profit and dividends but warns the u. S. China trade war is a major threat to growth and facebook and twitter call out china. The social media firm take action to block accounts they claim are being used in a beijing backed Propaganda Campaign against hong kong protestors well, our top story today, italian Prime Minister is to address the senate later in a speech that could spell the end of his government. The far right party is looking to table a no confidence motion in an attempt to bring an end to its coalition in the movement and force a snap election. Meanwhile, the leader says a 50 billion euro budget is necessary next year to bring about a quote, shock fiscal stimulus so that seems to be the operative word over the last couple of sessions modest in italy and germany and in the context of the u. S. Overnight as well. But lets focus on whats happening
Down day in a row. Lets look at the chart we have been watching. Below its 100 day moving average. Moving had 200 day average and blue. Tendency to drop back down during the volatility of last year, in the fourth quarter, well below the 200 day moving average. Low bitittle bit below the 200 day. You can also make, from another pattern, the case that the s p 500 is confirmed to drop even 2600. Possibly toward sarah ive been focusing on the financials. Today, they were once again the worst performing area of the market. All but two members of the s p Financial Sector were in the red yields lower and yield curves flattened across the board. Pularu look at xlf, a po exchangetraded fund that tracks the second, we have the sector, we have seen outflows. If you add this for last week, 2 billion. That is the worst single week outflow since 2008. Thank you so much. Malik and us is saira luke kawa. Sarah piggyback off what was just talking about is it really signaling the process of they signals
The white house says theres no chance of meeting halfway with china and beijing slams protesters acting like terrorists in hong kong as satellite images seem to show Chinese Forces massed new the border. Talk about wework and its race for an ultimate unicorn ipo. For now, lets get you started with a quick check of how markets closed. We saw the dow lose 800 points, the s p 500 think almost 3 . Sink almost 3 . Every sector almost in the red. We had the nasdaq also losing 3 . It was all of this anxiety over the economy really sending those stocks down. We also had some api data showing that crude stockpiles were rising so that did not help the price of oil. Its about haven demand. The 30year yield also fell yield ands record finished just below that point. U. S. Futures also under pressure, down. 2 , as we continue to see this economic recession fears really gripped the market. Sophie with those recession , the nikkeig large posting a loss of nearly 3 . Haven buying has the yen hovering
President trump will delay china. Nal tariffs on markets rally on the news of apple surging 4 . The cbsviacom romance leads to a waiting. The megamerger shery breaking news out of south korea. We have the Unemployment Rate for the month of july coming in at 4 . That was as analysts expected. The third month in a row that stayed at 4 . South korea added 299,000 jobs in july, higher than the 281,000 they added in june. The south korean economy and job market being highly supported by government job creation. We are expecting the extra budget set to pass parliament at the start of august to also give more support for the job market. Exportseantime, continue to plunge in south korea, now headed to the ninth month of export declines in august. We have seen the weakness in w theon throughout these the south korean won. In hongrn to sophie kong for a check on where markets are headed this morning. Sophie we have plenty more data to come through from asia including a check on chinas monthly ac