Very, very, varied longtime. What does that mean for u. K. Asset . Strategistnvestment is joining us now. David, the u. K. Economic outlook is really bad right now. We have had a bounceback a little bit in the month data, but it makes grim readings. U. K. Asset pricing enough in terms of the downside . Dont think they are pricing enough bearing it was a truly terrible q2 gdp number. That was expected. At the moment, investors are taking some comfort with a decent pmi number for the u. K. Some of these monthly gdp data from the statistics have been revised up for june. After such a big decline, we are going to get a bounce in q3. We may get doubledigit growth in q3. For the headwinds are really significant. It is being massively underreported in the u. K. It has been a sticker shock for investors and for households and consumers from the furlough scheme. This brexit is still hanging out and never seems to go away. Alix what is the down lot what is the Downside Risk to the furlough . Is
People that have lost their jobs since march, it does not take into account the huge sways of selfemployed people in the u. K. There are many people that are away from work and not being paid, not included in these statistics. The expectation is that these numbers get significantly worse. The pressure is on the chancellor to do something to extend the current solo scheme. Single conversation point yesterday across bloomberg surveillance was mark zandi of moodys, forcefully saying the Unemployment Rate in america is not 10 , he said it is in the vicinity of 14 . With news on this tuesday, our first word news, here is ritika gupta. Ritika President Trump says he is seriously considering a Capital Gains tax cut. He told reporters he would create a lot more jobs. The president cannot cut taxes on his own, but some advisors say he could issue an executive for a Purchase Price the Administration May travelers prevent from returning to the u. S. If it of if they have coronavirus. Federal agen
English premier league along with a spat with the u. K. , all reports prius president xi jinping could close the u. S. Consulate in showing do. Tension and political Mitch Mcconnell good unveil a gop plan opening up discussions with immigrants. Cost cuts assifies it sees a considerable slump in economic output. Confirms its diagnostics unit. Units from unilever coming from across the wire. What are you seeing . Anna we got the numbers from unilever. Lets get to the story in london. Unilever with underlying sales, down. 3 , but better than the market anticipated. The estimate was for a drop. 3. 89 . That is a good number for the underlying sales story. They were telling us about what they plan for their tea business. They talked about moving it on in some way. Now with a that will hold they will hold on to some of it. They are retaining the tea businesses in india and indonesia and interest in the ready to drink tea joint ventures they have, but they are telling us the operations they w
Employees. Bank of america and Morgan Stanley among big banks reporting. Dow component Johnson Johnson right here. Futures in the red. We are standing by for retail sales and jobless claims this morning at 8 30 a. M. Eastern. Stocks edging higher, Investor Sentiment over covid19 vaccine pushing markets into the green. The dow industrials up 227 points, nasdaq up 62 and s p up 29. The state of travel today airlines in the midst of a sharp downturn as pandemic fears keep travelers grounded at 7 30 a. M. Eastern ill be joined by ceo of delta edward bastian. Plus this, drink up, how moderate Alcohol Consumption can protect against cognitive decline. Mornings with maria is live right now. Maria european markets on the decline. Standing by for the ecb decision for the next hour, rates are expected to stay unchanged. Ftse 100 is down 36 points, new data this morning from the uk shows half a million workers were furloughed in the month of may. Thats in response to the pandemic shutdown. This m
Good morning welcome to squawk box. Im becky quick with joe kernen and Andrew Ross Sorkin weve been on a bit of a winning streak up four days in a row. Yesterday the dow was up this morning, you are seeing a little pull back dow down s p down and nasdaq off by 172 yesterday, Goldman Sachs helped. Good news from moderna godm goldman came out with much better numbers than anticipated. Also looking at the trezy yield. The 10year is sitting about 0. 622 good morning. As joe mentioned earlier the twitter shares are lower after the company showed dozens of users were part of a twitter hack targeting some employees who had access to systems and tools. Among those hacked joe biden, jeff bezos, bill gates, elon musk all telling users to send massive amounts of bit koip to an address they are diagnosing the problem and will share everything once the picture becomes more clear if they got in through employees with tools and access to accounts that raises questions about security procedures at tho