President macron criticizing erdogan for his insertion a regional power. Jinping, president xi opened a meeting to map out the countries next fiveyear plan. It could push the economy passed the United States within a decade. The latest roadmap will center around technological innovation, economic selfreliance, and a cleaner environment. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 5 00 in london, and 1 00 p. M. A. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories we are following on the bloomberg and from around the world. The s p 500 heading for its biggest decline in seven weeks. Thanks to surging virus cases, the stimulus logjam, and general malaise. Virus cases rising in the midwest and the potential for fresh lockdowns already happening in europe is driving investors to sell.
Session highs it was up 163. Of course, plenty of attention on crude oil rising after that china rate cut. Bob, a different pood today . Yes. We have a rally, but not an enthusiastic rally. It was 51 at the open. We should have gone better. The volume is only moderate. It drifted lower. The buyers are not enthusiastic. Im not seeing people go after stocks beaten up. S p 500 has been sideways except for a dip in the middle of the day. Up roughly 300. A few sectorspecific movements. Home builders have been weak. Toll had a report where earnings missed expectations. Growth is slower than expected. Elsewhere its the enthusiasm or lack thereof im interested. Freeportmcmoran is now down. We should have been doing better. Some big multiindustry companies. Textron, united technology. 3m. Down right now. We should have seen this up on bigger volume if you had enthusiastic bounce back. Were fine. Weve got a bounce back. I dont see a lot of buyers coming after the market right now. If that contin
The tech rally still has room to run. Thank you. See how that works. Intels chief Financial Officer bob wan is back with us, talk about the chip anchors better than the expected earnings and concerns at rival amd could be taking a bite out of its business. They had to defend themselves on the intel Conference Call. Some of the analysts asking about that tremendous competition from amd these days. Yeah. Well ask him about that so lets begin with amazon still weighing on the tech sector. Bertha coombs has more. Reporter following that earnings misamazon seeing its worst day since early june selling off on pretty strong volume and thats providing the biggest point drag on the nasdaq 100 but amazon is coming off an alltime high just yesterday and shares are still up fractionally for the week and in fact up 6 with one more trading day left here in the month of july. The impact on bigcap tech is somewhat muted the major tech indices are down fractionally and treating volume actually isnt ref
Into the market. And there he was. The man known as the god father says the market is setting the stage for a vigorous rally. Ralph acampora will explain why. Goldman sachs has been the big winner since the election. The banks ties to what is being described as one of the largest financial flaws in history could be a red flag for investors. We have details on the important story coming up. And a survey says economists are skeptical of president elect trumps growth plan. Billionaire carl icahn appeared on Halftime Report earlier today. Hope you saw that great interview. He is concerned that the money going into the market right now is coming from people who just dont study the market. There is a lack of stock for sale. Yet on the buy side from what i consider a lot of investors that really dont study the market. They are giving it to people, giving it to a buyer of etf. They tell you the goal is to buy through a black box. There is nobody deciding is this a good stock. Can you decide if
The companys relationship with china and any trade concerns. Ginni rometty interview is coming up. Kayla tausche is on capitol hill. And bob pisani on the floor. And better thrtha coombs at the. Theyre still trying to convince the Freedom Caucus . This was supposed to be the low hanging fruit and the promise of President Trumps progrowth policies coming to bear depends on what happens this thursday when House Republicans are set to vote on the American Health care act. President trump meeting with republicans at the white house this afternoon to discuss the bill further, having posted photos on instragram with Health Republicans this morning and the hash tag pa pass the bill. They say it is just business as usual trying to get a deal done. If the house passes something, ill bring it up and then well bring egin to work o in the senate and youll have lots of stories about various people lobbying for different parts of it and well try to move it across the floor next week. He said earlier