A look around the world but amid the surging coronavirus cases in the United States some pharma stocks are seeing a pop on the hopes for a potential vaccine could the optimism be a bit premature later on we jump into the race for a vaccine and the possible supply chain issues that could arise once a cure has been found we have a packed show today so lets dive right in. And we leave the program with the latest salvo in the back and forth between the United States and china over the Hong Kong National security act now on tuesday u. S. President donald trump signed into law the hong kong autonomy act previously passed by congress which imposes sanctions on chinese officials businesses and financial interests institutions that violate hong kong autonomy now a spokesperson for the Chinese Foreign ministry respond to the legislation saying sanctions could be levied against the u. S. Its the implementation of National Security never seen in order to save guys only interests in china make unne
This is boom bust the one business show you cant afford to miss or in washington coming up. Signed legislation. And an executive order to hold china accountable for its oppressive actions against the people of hong kong the United States has its hong kong autonomy act and did trade privileges for the special Administrative Region straight ahead we analyze the move to chinas response and how the tensions between the 2 superpowers are spilling over on the world stage and coping 1000 cases continue to surge in the u. S. But how do the states stack up against. The rest of the globe will take a look around the world but amid the surging corona virus cases in the United States some pharma stocks are seeing a pop on the hopes for a potential vaccine but could the optimism be a bit premature later on we jump into the race for a vaccine and the possible supply chain issues that could arise once a cure has been found we have a packed show today so lets dive right in. And we leave the program wit
Wave. S fears of a second the u. S. Seeing 16,000 cases a day. Hong kong in the third wave right now. All youll futures elevated. You are seeing a risk off move today. Focus on the chinese story. We are seeing a down day even when it comes to chinese stocks. We will see how this plays out. Lower by 6 10 of 1 for the shanghai composite. Asia had their best Weekly Performance in five years. The csi 300 large caps, ada percent of the index has been overbought. Thats the highest on record. We are seeing profittaking here today. Shenzhen, more of that robustness. The most overbought on record. That is still going higher by 1 today. It seems like the bond market is at mercy with this rally as well. Bonds at 306 right now. Yields falling. Bnp paribas saying that 10 year yield could rise to 3. 4 . We are watching other markets as well. Hong kong is a focus today. We saw a Record Number of local virus cases, the most since the pandemic began. They tightened distancing rose again. 150 points low
Vaccine. And we speak to one of the Worlds Biggest Oil Storage Companies about what is going on with crude it is july 29. This is Worldwide Exchange here on cnbc good morning, good afternoon, good evening wherever in the world you may be watching. Here is how your money are setting up their trade futures well call them mildly higher right now. With so much going on today, it is no surprise if wall street and traders are in a wait and see mode at least what weve seen over the last couple of months of 100 to 150 you may have guessed, today, it is all about washington, d. C. And a jam packed schedule. Youve got the Federal Reserve and no clues completing the triple play, Congress Still in intense talks and debate about the trillion dollar plus relief bill as the clock ticks and expanded Unemployment Benefits expire this friday, well get more on that going around the world in a developing story in hong kong, a jump of new cases overnight and new fears of community spread. Well go to Julian
A new tyranny. Those are headlines from all those stories you can head to our team dot com still to march international for more great program. Hello and welcome across town for all things are considered im putin about how is the issue of china playing out in the American Election cycle and by the trade themselves as being tough on beijing maybe they are at least rhetorically but in reality those are very different story and its bipartisan the commanding heights of industry and finance have courted china for decades and now the riches show or is this china. To discuss this in. And more im joined by my guest sarah issue in knoxville she is a huge visiting scholar at Fudan University and in beijing we crossed the jungle she is a professor at the university of International Business and economics are across not because in effect that means you can jump and we dont want and i was. Going to syria and not still im sorry what role is china playing in the American Election because i said in my