Jim, jon and shannon lets get a check on markets this hour. Stocks are plunging again. Off theirs worst levels and the nasdaq is the biggest loser of the day led by the Technology Names. The dow was up at one point this morning almost 250 points. Now has done a complete uturn and is down triple digits ina big way. Theyre off 425 points thats off the lows of the day the last couple of days, has it made you frightened of what could be to come no. Not at all i think this is healthy profit taking i think whats going on is this massive rotation from growth into value if you think about it, the russell 1000 growth index even after this pull back is up 21 year to date you know that apple and nvidia and zoom are up 340 from the march lows in is healthy i think the rotation makes sense. The reason it makes sense is because the Economic Data continues to surprise to the up side were recovering faster than anybody thought. This is on top of yesterdays data part of consumer manufacturing now youre
The bloomberg. Back to school. Boris johnson appeals to parents to send children back to class even as a resurgence in the virus in europe hits hard. Saysu trade commissioner he is profoundly sorry for attending a golf dinner in the midst of the pandemic. Of as push higher on hopes thaw in u. S. China trade relations area and markets turn their attention to this weeks virtual jackson hole and the fed fighting crisis measures. Trump and powell both on thursday. More than 100,000 people protest against the fellow russian president in rainy minsk the belarusian president in rainy minsk. We are just under an hour away from the start of cash equity trading across europe and in the u. K. Lets take a look at futures this morning. We have some decent green a percentre than half gains across the indexes. One of the reasons is optimism that the u. S. And china are going to get along a little bit better amid reports administration is telling Tech Companies they can keep working with tencent. Take
Good morning to you wherever you are. Im Frank Holland in for Brian Sullivan lets get right to the markets and take a look at the stock futures this morning its been a wild week on wal ve street today it looks like the dow could open down as much as 150 points amid new concerns over covid19 but the nasdaq, its run keeps on going. Leading to another new record high its 26 for the year on pace for the third weekly gain in three weeks. Now to the global markets. Karen tso. Shes in our london newsroom with more on that. Good morning. It has been a weak finish for those asian markets today. Negative news coming out of hong kong with fresh coronavirus cases. 38 new cases local transmission and decided to close schools again from next week that throws cold water on these markets. And the rest of the markets to be very much focused on the bull run for the Chinese Market take a look at this. A lot of investors piling into chinese stocks this week and that has taken them to the highest level in
U. S. Stores while pepsi shuts a food plant in beijing. Sending a message to the white house. How tictoc users may have contributed to the low turnout for President Trump in tulsa. Haidi lets take a look at how we are shaping up when it comes to the start of trading this monday morning in asia. Looking like a pretty uncertain start as u. S. Futures are. 25inuing to drop at percent. Nikkei futures trading in chicago down. 4 . We have a bit of strength in the yen in fact. We had the dollar outperforming at basically every g10 currencies in the overnight session other than the japanese yen which is sitting at that high 1060 handle. The are also seeing a slip when it comes to trading in oil prices after the market rose almost 10 last week on news that these output curves are continuing to work to break down the supply glut these concerns about a second wave of this virus resurgence are clouding the demand outlook and causing a bit more of a downside trading action when it comes to crude. W
Claims that have the has the latest corona Virus Outbreak under control give report on how the Chinese Government is expanding its question of any criticism of its handling of the pandemic plus as cape town braces for corona virus infections to peak at the end of the bronx we will be asking why the south africa city has seen war cases and doubts and the rest of the country. Im sorry kelly walked into the program the leaders are holding a Video Conference at this hour on a Financial Plan to help the bloc emerge intact from the worst economic crisis in its history now the Virtual Summit is the 1st step in what is expected to be difficult negotiations. They are discussing an unprecedented 750000000000. 00 euro carona Recovery Fund leaders will meet face to face next month for the 1st time since the Coronavirus Crisis began in february. And lets head live now to brussels where mattis is following the talks for us and there are certainly big political fault lines in these negotiations so wh