Hitting stocks. Wall street falls as the virus weakens the recovery. S p slipping, led by energy, financials, and industrials. Lets get started with a check of the markets. We are seeing u. S. Futures flat, after we had a solid risk off session in new york. We had a resurgence in virus cases and news the white house is weighing tariffs on european exports. We have the imf downgrade of the 2020 Global Economic forecast, so the s p 500 saw its largest fall in almost two weeks. All 11 sectors on the s p 500 sank. The nasdaq composite falling for the first time in nine sessions, down more than 2 , halting the longest winning streak of the year. This, as we continue to get more political news on how the coronavirus pandemic could affect the political schedule Going Forward towards the november elections. Democrats, saying state delegations shouldnt attend a convention. Saying they should work remotely. Pressure coming not only from the fragile economic recovery that also u. S. Crude invento
Singapore and malaysia as well. The Peter Navarro episode, if it is any indication how sensitive markets are to the slightest hint of bad news, that tells you the story of volatility in store for markets in the second half of the year. A quick check on the risk radar. Aussie yen coming off a little bit, that tells you where we are in terms of Risk Appetite. We were closing in on 79 a few weeks ago. Brent crude, some upside. Lets get you up to speed with other top stories we are watching. It lawmakers in washington have approved a bill to penalize banks doing business with china over beijings National Security legislation for hong kong. The bipartisan measure in the senate has support in the house of representatives and needs to pass before reaching president trump. It condemns china for breaking obligations under the deal that return hong kong to mainland rule. The coronavirus has hit local trade hard with lockdowns increasing by 12 . The hike of that pandemic in april, new research th
Just fell into the 60s holding on to 70 through the evening. Oakland at 60 right now with berkeley and San Francisco in the midfifties later today, a slightly cooler day but our coolest of weather still ahead come the weekend talking about that still ahead back to you thank you john on our top story, a grim outlook for the coronavirus there are now more than 2 million cases. In the United States and doctors are afraid that were going to see a spike of new infections in the next few months. Right now we have between 800 and a 1000 people dying every single day in america. And all of the models all the data suggest that things are going to get worse in have increases the virus hasnt gone away. Its not like were looking for for the second wave. The first wave isnt gone. The Harvard Global Health Institute predicts a 100,000 more coronavirus deaths in the u. S. By september a 100,000 people dying. 12 states including california has seen hospitalization. Rise since memorial day. And theres
That is where we are at the moment. Another down day for crude. Brent also down. Tom lets get more analysis on the market. When you look at what happened with help things are playing out in asia, is it taking offer a stellar quarter . Probably a bit of both. Concern withys the cases we have seen. In cases like texas. They have a bit of a crisis going on there. The fact that new york, new jersey, and connecticut have now set a quarantine for people who travel from these hot zones and the rest of america. Imposing an economic constraint. They are worried there will be another abruptness to this. That the Economic Growth that america had. In states of new york, when they take this action, that is a worrying time. That would hurt businesses on a much bigger basis. That is what wall street is concerned about. The hit to the economy. There has been talk the u. S. Government is getting ready to do a fourth round of fiscal stimulus. There has not been any details yet. The market would be conce
Life was lived in tribes or extended families. That made things like gathering food, looking after one another and surviving both easier and more likely. But over time, we became increasingly selfreliant. People are often left to fend for themselves in densely populated cities. Community tends to be something that takes place only online. The result is a sharp rise in loneliness. Millions of men and women cut off from society, devoid of a sense of belonging. Althe lonelyly people, w whe re do o they come from all the lonely people,e, whereo they belonong o one europewiwide study revealed thahat around 30 milln europeans regularly feel lonely. Thats 7 of the overall population. In japan too, many people live in total isolation for years, even decades. Tokyo, a vibrant mega city home to 15 million people. E. Some tokyo residents find it a challenging place to live. They say its too busy, too noisy, so they simply dont leave their homes. Sometimes for a few months. Sometimes for decades.