Couple of things. They are looking at numbers of infected across the world, but also the fed decision. Stocks are struggling for direction. Treasuries pretty steady. It is all about the fed, the policy meeting, and what they will give us in indications. In asia, modest gains in hong kong and south korea. They outperformed in china but low volumes. 1957. 157 lets get straight to the first word news in london with laura wright. James the uks looking at ways to loosen its coronavirus quarantine rules after restrictions on trips prompted backlash. One possibility is abandoning blanket restrictions in favor of regional bands and another is reducing the time passengers arriving in britain need to stay in quarantine. The u. K. And u. S. Voiced concern about hong kongs election after a flurry of media reports the government is considering postponing the vote maybe for a whole year. Hong kongs opposition argues the coronavirus outbreak is being used as an excuse to push off the pivotal election
And we expect a normalization of that. But you need to remember as well that in our case, we have been working to stabilize, grow the franchise, recover some market share, so what we are pleased to see is that underneath that sort of outperformance in the market environment that we have been in, we have seen really good franchise stabilization traction , client engagement, improvement in clients. We think that bodes well for the future. You are expecting slightly higher revenue for the full year. Not too conservative now given what we have seen in the first half . It it would be james would be a normalization but i think an improvement on last years second half. Again, especially in our businesses, where a year ago, we were going through a restructuring and there was some uncertainty around our people and franchise, so with that now behind us, we see momentum in the core business, and we would like to see a secondhalf performance well ahead of last years second half, but we will see ho
Were going to talk more about the tech sector. Is this a market moving event . We will get a take on whether the market should be paying attention to this. The banks are having a big day in europe. It is been a tough day. Barclays traders had a blockbuster Second Quarter. The lender is anticipating that the crisis gets worse. The ceo had this to say. Clearly there has been an extraordinary Economic Contraction globally. Particularly in the United States and in the u. K. A sizable reserve. The vast majority of that are derived by our risk models where we put economic forecasts into the models. Future unemployment rates, gdp rates etc. Those models produced impairment numbers. We think we have been conservative to build proper reserves. Economye how the particularly in the u. K. And u. S. Unfold in the next couple of quarters. We like the comfort of having strong impairment numbers. At the same time maintaining profitability for the bank. Youram looking at Investment Banking business. Fi
Although probeijing officials have said we should not be too concerned, it will lead to stability in the city. 7 . Sci asia pacific down it is certainly something of a riskoff mood, following off what we saw toward the end of play on friday in the u. S. The nikkei is down more than 1 . In the mainland, you have a bit of pressure as well a despite industrial profits up 6 coming in over the weekend for the month of may. On to the next board. We will be looking at the currencies. A bit of dollar weakness. On friday it reached its highest level in four weeks, but it has since come off slightly, leading to a bit of strength for the offshore currency here in china. The korean won is up about plan to 01 . On to some of the commodities we are looking at. Wti has been under pressure as the demand story as we focus on the rate of infections, 10 million infections, 500,000 deaths, you can see that it is lower today. Gold, science that investors are preparing to cross through 1800. 0. 64 . Year yi
Political price to pay. President trump also getting down to business while he prepares his plan to address the issue of racism, policing, and the evolving opinions of america. What should we expect to hear from him . I have one of his top advisors coming right up. All that and so much more on making money. Charles i want to begin the show with the notion of always having to assign a reason to every move in the market beyond the idea of more buyers or sellers or more sellers than buyers. What makes this happen is sometimes pretty obvious what makes the market go around but sometimes it is a mystery. But its also reported as fact as the Financial Media is typically echoing the same talking points, but those talking points are often generated somewhere and often have nothing to do with fact or even honest opinion. Yesterday i got to admit, i was livid at the notion that the market sold off on a quote unquote spike of covid19 cases. The so called spike wasnt even close to numbers in recen