Record high after a global meltdown melt up on monday. Futures are pointing lower. The cash trade tray is less than an hour away. Hong kong on notice. Microsoft joins google, facebook, and twitter in pausing government user data requests. Tiktok also pulls out of hong kong. The risk rally pauses. Equity markets and futures trade grow aboutncerns rising coronavirus infections. Bloomberg learns that Deutsche Bank and google are planning a 10 Year Partnership on cloud and tech investment. Computing and tech investment. Just under an hour away from the start of cash equity trading across europe. Futures are down right now. We see losses on ftse futures of 0. 5 . About 0. 6 . Es, futuresxx you choose down about 0. 7 . Yesterday we got germany factory orders, missing the mark. Coming out at a 10 gain compared to a 15 estimate. Now we are getting german 7. 8 . Rial output rising that is the month over month figure. The estimate was for 11. 1 . Dataagain, german economic missing the estimate,
H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da
Last night. Meantime, cnn has learned investigators are struggling to bring officer sicknicks kill tore justice. Cnn security correspondent Josh Campbell is starting us off this morning in washington. Josh, so remarkable to be back at the scene, just a month after officer sicknicks death. Reporter thats right. Laura. And this was the Scene Of The Crime, this was the same building that former officer sicknick protected for over a decade inside at various time with the Capitol Police. A solemn ceremony as you mentioned last night, a hearse arrived at the east steps of the capitol carrying the remains of the fallen officer. Once inside the rotunda, two officers escorted his remains and an American Flag into a table at the center. We saw members of congress and his former colleagues with the Capitol Police file in, paying their respects. A very solemn, a very quiet moment, again, for this fallen officer. Now, we got word just before 10 00 p. M. Last night that the president s motorcade had
Asset management lets go to wall lets check the major averages they did jump following the release of the jobs report the nasdaq 100 and some big names within it. Amazon, microsoft, netflix among those hits new milestones today. This incredible ability for the market to shrug its shoulders at the spikes in coronavirus cases around the country i mention some of those new highs. Everything from amazon to netflix to square and twilio and tesla and docusign what the you make of that ability of the market to stay focused on whats ahead . I think this is really difficult time right now for investors because you kind of have to keep three things in your head at all times the first thing is that we are having this resurgence and the data from some of the biggest cities is getting worse and worse and now out in the suburbs and in some of the states that had not been touched by this before, so you have to keep that in the back of your head at all times. Maybe it chasens you and calms you down a
You do you reach for the stock equivalent of comfort food something that tastes just like the great bull markets of thats right you reach forfang, my acronym for facebook, amazon, netflix and google this session its more like fang because microsoft has become red hot. Netflix suffered a rare decline. The tech stocks led us higher. With the s p rising 1. 67 , and the nasdaq zoom being 2. 80 , it was a matter of time before we return to the tried and true this market has been going through groups like theres no tomorrow first we had the rally in the defensive Consumer Staples during the work from home nuclear winner the stocks rebounded we started reopening hospitals for nonessential medicine a run up in the big box retailers. That group seems a tad exhausted. Weve seen a surge in the Semiconductor Stocks as demand picks up from china and 5 g. Build out looks good continue with analog devices, amdi a decent quarter. A run in industrials as people bet the economy might be coming back as a