Donald Trump Campaign was in touch with russian officials who wanted to defeat Hillary Clinton. He revealed a former policy adviser has pleaded guilty to lying to the fbi about his contact with russian operatives. George papadopoulos is cooperating with prosecutors. Former campaign managerPaul Manafort and an aid charged with money laundering. And congressional tax writers considering a phase in for tax cuts. According to those familiar with the matter, they looked at a schedule that would slash Business Rates from 35 to 20 by 2022. The tax bill is that the be released tomorrow. And in spain, the Independence Movement in catalunya trying to find a way forward. Its a leader took off for belgium without telling senior party officials. They say he plans to seek asylum there. Majored has strengthened control of the Catalan Government and the Prime Minister has called for regional elections. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 coun
Stake. Polls open in the iranian elections where Hassan Rouhani is seeking a second term, but challenger Ebrahim Raisi has gained momentum with his close ties to the Supreme Leader. Good morning, everyone. Yes, its friday, finally tried. Tgif is what most of you must be thinking, and on capitol hill given the drama unfolding there. The stoxx 600 is recovering slightly from the big selloff we saw this week. Up by a third of one percent roughly one hour into the trading session. For the wreak we are on course for a 1. 5 loss. That is the worst week for the stoxx 600 in six months since november. Given all the concerns about whether donald trump can still enact many of his policies, like tax reform and infrastructure spending. Want to show you what the sectors are doing this morning. We have most trading in positive territory. Basic resources, autos doing well. Rebounding from yesterdays weaknesses. Retail, telecoms showing slight underperformance. Lets remind you what happened in the u.
Happen because the journal story last night, also about the huge i think its 7 or 6 of the market are now owned by etfs, which is great until its not. There is a growing group of folks who are thinking if were just buying stocks en masse, will any reversal like the qqq, 100 stocks effectively. But five stocksmake up 40 of the index. So thats why people say, why do you talk about these stocks all the time because their weight matters. Theyre so powerful within the index. Earlier today, i was looking at the s p 500, there were probably only 75 stocks that were positive on the day. By the way, the last down month for nasdaq was october of last year for the s p and dow. It was sooner than i thought it was actually back in march. We should appointment out, this isnt a complete selloff this is a day very much about rotation youve got correct. Selloffs in the momentum stocks, technology in particular a lot of those stocks are not returning to levels that are frightping at this point yet but p
Ahead of fridays g20 summit. At 10 00 we get factory and goods orders for the of may. This afternoon the fed will reap the fomc minutes of last weeks meeting. President trump will be heading to europe for the g20 summit. The question is of may. This afternoon the fed will reap the fomc whether they are going to spend the time talking about geopolitics or trade. Heres kevin cirilli. We thought it was going to be all about trade. It doesnt look so much right now. It looks like its going to be all about north korea. The administration sending clear singles they are hoping to put pressure on north korea. As a result of their testing of an Intercontinental Ballistic Missile on the fourth of july. We should note that secretary of state Rex Tillerson has echoed u. N. Ambassador nikki haley who has called for there to be a laterl you in meeting this afternoon with the Security Council. I want to pull up a statement from the secretary of state who said in a statement that Global Action is requi
Amanda we hear from the ceo of disney with just a week until the grand opening of the new theme park in shanghai. Around the world and check in with our team for indepth coverage. Brussels where mario draghi has been speaking this evening. Guilty yields dropping a record low. David lets begin in brussels were mario draghi has been calling on those to help the European Central bank store Economic Health to the area. Economic form with the latest. What are these reform specifically that mario draghi is asking for. Amanda i dont hear him. David im afraid we lost a matt miller. It fromwe now take brussels. Talk about the brexit vote fallout. In this case, interesting to the 10 year bond dropping to record yield. It to anna edwards now. What is driving the yield . About what islk been happening to guilty yields this morning. Theyve come up a little bit since then. Talk, was on the final before the Eu Referendum that takes place on the 23rd of june. You have the global and the domestic. The