Month high and europe a different story. The economy lost momentum unexpectedly. Michael is here for the breakdown. Michael the narrative in europe playing out as europeans forecasted. They are now seeing a covid come back and slowing Economic Data. Indexes, thetiment pmis, is this month better than last month or worse . The consensus is it was not as good or worse. You can see all of us the euro zone in france, germany, they saw declines in the manufacturing and services pmi and france taking a big hit, dropping into contraction territory for the manufacturing pmi. Germany a little better. Manufacturing improved but services and composite well. Composite in all three areas following the weakest representing three position of lockdown measures due to the current flareup of the virus in europe. Those of the countries that a lot of in the curve. We saw in the minutes earlier this week at the ecb that policymakers are reluctant to embrace the forecast at the july meeting because they were
Can you see. T the Housing Market continues to thrive in the u. S. , Manufacturing Activity is recovering it jumped to a 19month high comparable data out of the eurozone and japan. Familiar names leading us up apple is up 5 market cap just hit 2 trillion earlier in the week. Its more than onetenth of the way to three trillion already. Incredible move for that stock with 59 minutes left in the trading day. S p 500 as we just showed you, up 0. 4 on pace for a record closing high speaking of apple, by the way, we have breaking news this hour on the companys fight with epic games. Josh so apple just responding with a legal filing the two epics charges. They alleged exactly the same things will all of the legal theories apple is saying here will fail as a matter of competition the motion will fail because they need to show the balance of equities and Public Interest are in its favor in fact, the factors favor apple. Apple goes on to say that epic knew full well that in circumventing the pro
Weekend. Our roadmap begins with the record setting week. What are the risks to the rally . Plus tesla on a tear, set to open at record high after topping 2,000 for the first time. And democrats demanding answers, the embattled postmaster general testifying this hour amid a political furor surrounding policy changes ahead of the november election guys, its going to be an interesting morning to sort of take stock of where weve been over the past couple of days the s p all time high, apple 2 trillion, scott, tesla 2 k even though b of a this morning says that weekly outflows look like they may be the biggest in about 15 weeks despite some of these new highs. Maybe this is the week, carl, where technology said, do you know what, wait a minute, not to fast, growth, not to fast, value. Ever been has been coming out of the woodwork trying to make these calls that there is going to be this great rotation, carl, from growth into value stocks and these cyclical and epicenter names as tom lee ha
Into our freedom the Chinese Party getting into strength and Services Also pushes the french print past expectations retail rebound uk sales urge past expectations in june as the lockdown lifts while the uk starts to enforce new rules on face coverings. European stocks struggle after chip maker issue earnings dpi guidance and delay the launch of a key next generation product a very warm welcome to street signs. A big day in terms of data we have the flash pmi coming through. Weve heard from germany and france better than expected now we have the eurozones overall for the region the flash composite up from 54. 8 we cross into growth territory we look at the breakdown and the flash manufacturing pmi that has come in at 51. 1 versus 47 in june on the services side, the pmi has surged to 55. 1 up from 48. 3 in june. So a big, big step higher in terms of the overall numbers for the eurozone that is reflecting strength in germany and france lets get out to williamson. The organization that p
, stocks andcovery futures sliding after unexpected uptick in u. S. Jobless claims. Delay to the stimulus plan means one thing for markets. This may get worse. , china to the u. S. To close its consulate in chen u du. Mike pompeo calls the chinese president a true believer into italian totalitarian ideology. Delay, thisuction follows big drops in microsoft earnings despite solid results. We are an hour from cash equity trading. You can look at drops of more than 1 acrosstheboard in european futures. You have got you are got u. S. Teachers that continue to fall after the slump we saw yesterday. Anna we have got numbers from vodafone out this morning. Lets get to that. 21 organic services revenue, this is the bread and butter of what they do. Down, but the estimate was something worse. There was another u. K. Giant, unilever, also yesterday. They are keeping the guidance for Free Cash Flow prespectrum. There have been questions around the ipo tower unit. The european tower unit is on tra