Gains in the region today. The csi 300 has been up 6 in the past five days, the biggest months. N four margin traders have returned and the stock rally is kicking off. The hang seng up 133 points. We are seeing the dollar slightly weaker, but marginal. We are watching the aussie, in t he red here now. They are all over the place. Aussie, j. P. Morgan saying expect low 60s. It is difficult to model the recovery we are seeing. Number more positive. We are watching oil, coming off of a four month high and likely to end the month in the green. Gold with four weeks of gains. Tom the u. S. Senate has given final approval to legislation that would impose sanctions on chinese officials, cracking down on dissent in hong kong. Page in his warning a strong countermeasures if the u. K. Act in response to the National Security law. Warning a strong countermeasure if the u. K. , australia and the u. S. Active response to the National Security law. In the measures appropriate the senate at this point
Second half of 2020, there is an overlay of other stories. The pandemic story, at least in the United States, is truly front and center. I would also note the stunning close to equity markets yesterday. Call it window dressing on june 30, 2020, but we begin this july strong in the markets. Francine we certainly do. If you look at what the markets are looking at, and a lot of the focus is on the number of infections, treasuries slipping, and i am looking at a couple of Technical Glitches in europe affecting trading. We will have a full market roundup, but lets get to first word news in new york city with ritika gupta. Ritika good morning. Infectious diseases chief Anthony Fauci warns the u. S. Is going in the wrong direction. He said the country could see 100,000 new coronavirus cases a day, up from the current level of 40,000. Several southern and western states are seeing increases in infections, prompting some to put reopening plans on hold. A new poll shows 10 lead, joe biden over p
Rally and 30 points on the s p 500. There arent many things that story thanter the market rally in. Lisa you said it before, fiscal support, more fiscal support, lower rates. This is what is driving it. I wonder at what point fundamentals catchup because we are not seeing the Economic Data to justify this, and yet, people are looking forward to data they are expecting as we see reopening start to take hold. Clearly, what we see in the next few months is common sense sense, an economy that goes from shut down to reopening. You will get that month on month sequential improvement. July will look better than june. August will look better than july, if we can keep on reopening. Part two is the limit of the recovery, the limits of normalization, how dependent we are on a vaccine, on improvement from the science side to really adjust the limits of that normalization. I think at the moment, were focused on the sequential improvement. At some point, youve got to get your hands around the longer
Crude posting its longest winning streak in a year. Opec cuts may be draining the blood. And top fed officials weigh in on negative rates, saying such a move is not on the agenda for the foreseeable future. Shery lets get to a quick check of the markets. We are seeing u. S. Futures holding steady, after we saw the s p 500 fall on rising u. S. China tensions that we saw in the regular session. The s p 500 fell eight tense of 1 . Technology and utility also leading the losses. We have heard from china responding to act as asians from President Trump warning that responding to comments from President Trump warning that nasdaq sides biggest composite fall in more than a week. We also have some abysmal Economic Data. Millions of americans claiming jobless benefits. We are seeing wti under pressure, but still above the 33 a barrel level. This after sessions of gains. We are talking about the longest winning streak in more than a year. Haidi and really that crude story may be a bright spot as
A number of days of peaceful protests, and indeed, looting and riots as well. What we know for certain is last night was absolutely extraordinary in new york. , Governor Cuomo and mayor de blasio agreed to make the curfew sooner this evening. Jonathan which i think makes sense. I think is really sad is what is getting lost in all of the noise , the reason for the protests to begin with. The mission that has been a mission for a long time in this country for more social justice. Sharperhat becomes of vocus in the days to come and we get away from the noise surrounding the riots. Tom ian bremmer is scheduled to be with us. What i find extraordinary is what is the next step here. Theres all this reporting and the cable news frenzy and all of that, but we got to get to 11 00 a. M. This morning, where i believe the president will speak. Lisa people are wondering what if the local government cant get things under control. What we saw last night was not under control. Theres also a question o