Of 1 ow by only 1 10 versus the u. S. Dollar, but nevertheless it seems to be a logical move for the markets. In terms of what we have got coming up, we will be talking about whats happening in the race to find a vaccine. We will be joining by the ceo of novavax. With the United States getting done earlier on. This stock has been on an absolute tear this year, today really adding on to that as well. We will get that take on the progress thats being made and what the money is going to be used for and in terms of where he is relative to his peer group in the race for the vaccine, the many vaccines that we will ultimately end up needing if we are not going to do more damage to the global economy. The European Commission is out with its assessment of the european economy earlier on, warning that the coronavirus Economic Contraction will be bigger than anticipated earlier and the recovery will take longer than previously estimated, forecasting a 3. 7 drop in growth this year. Joining us fro
Research and we will talk about inventory numbers. The equity strategists are just reluctantly upgrading their target and we will talk to new and we will talk to them on the hour. Guy hes a 2900 on the markets at 31 so we will see what happens. As you mentioned, its an interesting day in the u. K. , the pound is getting a minor boost, the market is really shrugging its shoulders as we have seen radical plan to save the economy. How radical is it . Heres the chancellor of the exchequer. I want every person in this house and in the country to know that i will never accept unemployment as an unavoidable outcome. Here here. We are not in everything we have done so far just a step back now. In truth, the job has only just begun. Its a 30 billion bound program, again the pound shrugging its shoulders that what we heard. Guestfind out what our says. Is that the right reaction . Why is this enough to move the pound . Else, the as anything focus is slightly elsewhere. Brexit talks happening sep
Will not. He made maybe that will happen, maybe it will not. ,s you rightly mentioned francine, today the pandemic is again front and center. It is without question a different thursday than it was a week ago thursday, even two weeks ago. Once again the pandemic worldwide, and in selected states in america, really is front and center. Francine it certainly is, and that will be the main themes running through our program. Thats get to first word news with ritika gupta. Ritika good morning. A second wave of coronavirus cases is in the u. S. Texas reported its highest oneday total since the pandemic emerged, and a month into reported, florida 85 new cases, the most in a sevenday period. Still, surges cannot be linked to reopening. A powerful message from Federal Reserve chairman Jerome Powell, saying the central bank will keep pumping stimulus into the economy until the labor market is healed from the coronavirus pandemic. The fed is not even thinking about raising Interest Rates. Policym
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
President getting support from some big names and might not be too late for a serious run and natural gas pipeline goes dry. Duke energy canceling atlantic pipeline, warren buffet is buying dominion. Mornings with maria is live right now. Dagen good morning, take a look at european markets right now. We have gains across the board. Pubs in the United Kingdom welcoming people back over the weekend, optimism there. In asia overnight, markets also having a strong rally, gains across the board. Chinastate run media saying the Company Needs bull market to build strength as Capital Markets ongoing reforms to attract money from home and abroad. You can see the rally in shanghai there up almost 6 . The fourth of july weekend marked by violence in major u. S. Cities, Cheryl Casone has the details along with other top stories we are watching this morning. Good morning, cheryl. Cheryl in chicago alone at least 77 people shot, 14 of them killed including a 7yearold girl, now the president is offer