He shanghai composite up asx 200 picking up where it left off on wednesday. That was shrugging off the dreadful gdp numbers. Looking at the foreign exchanges, dollar weakness is being snapped, the dollar coming back against a popular currency. The bloomberg dollar index is moving higher. Seeing more yuan strength, the yen weakness has been pronounced and the euro is in the crosshairs of where currency traders are. There we go. Joining us now, trade j. P. Morgan Asset Management global strategist marcelo chow. Give us an idea where we are with the rally. It is looking toppy at the moment, but i have been saying that for a while. Good morning and thank you for having me back here. Index has record high been phenomenal so far. I think this reflects and factors expectations for 2021 andto recovery in 2022. As you mentioned, the recovery so far has been quite uneven. The Technology Sector is responsible for a significant share of the rebound. It seemed like there has been some good news val
France relaunch. President macron unveiled his stimulus plan. The focus shifted beyond covid into longerterm problems. Russian tensions rise. Angela merkel says there is proof that an opponent was poisoned as he was tested in germany. And mercedes considers an electric version of its luxury maibach to defend its luxury anna welcome back to bloomberg position. Markets european open. Are just an hour away from 53 minutes into a positive the start of cash equity trading European Equity session. U. S. Futures have pared some in europe. Lets take a look at futures losses as well. That is worth keeping in mind. Right now. They are higher in europe. Lets talk to laura cooper from markets live team, where she is we are looking at gains across the board. Macro strategist. One of the things we will be watching for his initial jobless claims. I am drawn to a piece you have futures are higher. Written about the importance of data or the way that data that we usually see driving markets we see drop
With the election less than two years away. Welcome to bloomberg surveillance. I am manus cranny in dubai. The Global Equity rally rolls on. The inexorable roller. We have some breaking data from the euro area. Pmi at 50. 5. The market had preliminary suggested a number of 50. 1. We saw the german numbers on Services Come in at 52. 5 from 50. 8. This roll up in the equity rally is marching on. One hundred billion euros for the recovery in europe. 1. Have a new date, november the politicization of the vaccine has never been more. That trumps any china rhetoric of building up their tech and chip ability. They are going to use the power of the atomic bomb, as they said, to get there. 10 year yields,. 66, back at the level that they were when jay powell spoke. The glaly re when jay powell spoke. The global rally rallies on. There is this reluctance by the bond market to reprice with the exuberance of stocks. Is it about the dollar or the euro . The euro has been dropping for three days. It
Live this hour. Plus records watch, the plus ive got it, carl the dow aiming to erase 2020 losses and the s p heading for the best august since 1986, kelly. Wow and cocacolas restructuring strategies amid plans to streamline the drink portfolio they are setting voluntary job cuts for thousands of its workers. David, it is friday, and kelly, friday and you just sort of think back to what this week has brought us, guys alltime highs, obviously news in sports in the nba, hurricane laura, the rnc and we will hear from what the president said last night tiktok, microsoft, walmart, oracle, you name it, david, but large discussion this morning about how the thing thats going to probably stick with us for the weeks and quarters to come is going to be that historic powell speech and we will have to decide whether this long end is bringing us noise or something more yeah, i mean, im glad kelly is here because im sure she was home studying every word after it took place, as you know, not my area
John, a little lift in bonds. Offer those ecb headlines largely expected. Jonathan a left in equity futures as well. Not sure it is related to that decision. 3 . Ive about maybe the success rate later will be defined by one currency pair, eurodollar right now at session highs. Tom euro strength getting up near the 120 level. We have lots to talk about, we welcome all of you worldwide, across this nation with a number of themes, particularly in the markets. We are going to get to equities and derivatives in a moment. On the nasdaq, weve got to go into this. The response on twitter yesterday was on fire. The premier league. Theyve all done well as the mlb struggles towards a bubble. The interest is, Team Surveillance is riveted by the opening of the premier league season. Waythan she is making her on her decision on who her team is. Lisa, are you getting enough suggestions . Are you happy with what you are deciding . Lisa i getting a lot of suggestions. I am leaning toward a team. I am t