Were looking at a sharp selloff for the nasdaq, down 271 points right now, the s p and nasdaq snapped a winning streak on friday. The markets are down across the board. Large labor day parties raising concerns about a coronavirus spike. Creating a futuristic Fan Experience at the u. S. Open. Watson using Artificial Intelligence to allow fan interaction, even with empty stands. Mornings with maria is live right now. Global markets this morning are under pressure, take a look at european indices, markets are under pressure as concerns grow over a no deal brexit. The cac is down 63 and the dax is lower by 108. Germany is showing signs of a slow recovery. Exports rising 4. 7 in the month of july, imports were up just over 1 . That was far below prepandemic levels. Checking asian markets this morning, take a look at what happened overnight, green across the board in asia, best performer as you can see japan, nikkei average up three quarters of a percent, same situation with the shanghai com
Scandal. Government buildings are being targeted. 2020 race with less than 100 days to go to election day, major Bernie Sanders supporters say they cannot get behind former Vice President joe biden, former United Nations Ambassador Nikki Haley will join me on more on 2020 race. Bringing critical supply chain back to america. Assistant to the president for trade and manufacturing, pete navarro with big announcement coming up plus latest tensions with china. Folks on earnings this morning, we will hear from 3m, mcdonalds. Jetblue among the names reporting before the name this morning. Futures searching for firm direction, we are expecting decline at start of trading, dow futures down 75, nasdaq down 40 and the s p lower by 8 and 3 quarters. U. S. Markets kicked off the week with gains yesterday finishing with near session highs as vaccine trials moving forward. Dow industrials up 115 points and nasdaq up 173 and s p higher as well, covid19 slamming the sports world meanwhile days into th
Many people. Tencent is one of the most active investors in the world. More than 450 investments under the companys umbrella and that is more than the number in softbanks universe and includes names like tesla, snap and epic. Thirdly, american businesses operating in china, like mcdonalds and starbucks, they rely on the wechat app for their operations so being cut off could jeopardize their business there. There are so many questions still outstanding but its really hard to understate the importance the daily role of wechat for chinese internet users. Its called a superapp people use it for everything from messaging and booking a doctors appointment and we dont have an equivalent here. Tik tok is popular in the u. S. Its looking at a sale to microsoft so it could get around that ban there is no such option for wechat, carl weve tried to explain to investors just how important it is on the other side of the world. Lets bring in global head of Technology Investment strategy at deutsche.
Cases surging in many u. S. States. India considers new lockdowns. Facebook insists it has diversity at the top of its list. But it seems to have done little to boost black staff numbers. Lets take a look at how we are shaping up. That drag coming through from u. S. Stocks. Rotation ofsee this the highflying tech stocks. Netflix casting a very dim shadow. Missing horribly on just about every metric investors care about. Nikkei futures up by a quarter of 1 . Tsmc raising its outlook for evan revenue. Maintaining there for your guidance. Saying that they are seeing improve conditions coming out of china. Lets take a look at chinese stocks in particular as we close out this trading week. One state media article suggested it was responsible for corruption and bribery cases against china. We will continue to see if that stock stages much of a rebound. Shery of course. Also moving markets as the coronavirus. Deaths topping 585,000. U. S. Infection rates rose 2. 5 . Brazils count rose above 2
That really made an impression on markets in europe. Lets look at how we are faring in the United States because we are down here, too, though not by as much. The 10 year yield at 65 basis points. Crude oil has erased any gains at saw after the drawdown in inventories earlier. 5. 42now trading hunting a barrel for wti it is now trading at 25. 42 a barrel for wti. Fed chair jay powell speaking this morning to adam posen of the Peterson Institute in washington, d. C. He pushed back against the idea of negative Interest Rates in the United States. He urged monetary and fiscal policy makers to rise to the challenge in order to avoid unprecedented downside risk. Chair powell while the economic response has been timely and appropriately large, it may not be the final chapter given that the path ahead is both highly uncertain and subject to significant downside risks. Economic forecasts are uncertain at the best of times, and today the virus raises a new set of questions. Vonnie for more, we