What an interesting market. It is not a normal july, and simply, it is not a normal friday. Gold almost touching 1900, better markets in the last minutes off the better than good pmi data in europe. Francine we had betterthanexpected pmi in europe, but also the u. K. It is not moving markets that much, but it is something to keep an eye on. Lets get to first word news with karina mitchell. China has dropped back, ordering the u. S. To close its consulate in chengdu because of the u. S. Decision to close the chinese consulate in houston. China serves as a key u. S. Listening post. China says its action is a legitimate one and necessary. President trump has given into worries about the coronavirus. He canceled his florida nominating convention. That was going to be the biggest event of his reelection campaign. Florida just posted a Record Number of deaths from the pandemic. The president says he did not want to take any chances. There are still differences between Senate Republicans and
It is almost jarring. Back monday. Alongside lisa abramowicz, im jonathan ferro. Tom actually dropped me a message this morning at about 4 00 a. M. , looking at the price action and this rotation we have seen. I think its got everyones attention. Weve had a fake after head fake. Is it real this time around . Lisa every investor we speak to says buy any dip. Buy the big tex stocks on any dip whatsoever the big tech stocks on any dip whatsoever. Now people are going back into them. You have to wonder what it would take to make people truly believe in the cyclical story. It has to come from the data. Data just isnt there. Jonathan i think you have to get a lift in treasury yields. That takes Economic Data and real improvement. That is where thanks stalled in early june. Lisa i will also say the reason why tom keene was messaging you at 4 00 a. M. Is because he doesnt want to actually move up on floor. If i had to move, i would also be procrastinating. Jonathan are you joking about this .
Explosion. Welcome to surveillance. Inm yousef gamal eldin dubai. Of, the riskon strategies it, but there is an interesting picture that is emerging here, the talk of a u. S. Capitol gains u. K. Jobsx, showing numbers as negative as they came through. That is being taken in stride. Up one point 72 on the stoxx 600. Real estate lagging. Now on a german data. Treasury drifting into a volume. 10year yield into a twoweek ,. 005. Commodity currencies have been advancing, but you are in a narrow range for your g20 peers, and gold at the moment, we are 1995 announce currently. Thes get now to some of other key stories we are following for you with bloomberg first word news. Leighann gerrans has it all. Leighann good morning, yousef. The number of britons out of work has dropped from april to june, and the figures highlight the economic shock facing the u. K. That is expected to escalate as the government gradually starts withdrawing wage support. Seriouslysays he is considering cutting Capita
A lot going on in the markets. A lot of focus on the protests, not only in the United States but also london. Lets get to your markets. Stocks bouncing 0. 7 . A lot of focus will be on this deal when it comes to gilead, big pharma this is what i am looking at, crude oil. 40 a barrel. Oil extending the rise. A european stocks dropping as investors lets get to the bloomberg first word news. Francine. New york city is missing its curfew. This as the city prepares for life after the coronavirus lockdown. Minneapolis city council pledges to begin the process of dismantling its police force. Members say they will consult the community. New zealand is ending social distancing after eliminating covid19. It paved the way for resuming normal life. It is one of few countries that have eliminated to keep the virus out. Global coronavirus cases have topped 7 million. The u. K. Is pressing ahead with its twoweek quarantine on International Arrivals despite airlines is saying the move will devastate
Top 2 million for the top two weeks. Good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. This is markets. When you look at the markets, they seem to be focused a lot on hong kong. At the same time, u. S. Stocks are dropping futures. If you look at washington and beijing, escalating after china announced the National Security law. Oil snapped a sixday winning streak. We will also have much more. Lets get to bloomberg first word news in new york city with ritika gupta. Ritika hi, francine. Imposing restrictions on Chinese Companies listed on u. S. Exchanges, but the parliament stop short of passing a vote. The senate had overwhelming support from both parties. Rising pushback against china on capitol hill. President trump has decided to withdraw from the open skies treaty. He wants to promote transparency between the u. S. And washer, and russia, citing until there is a deal, we will pull out. Secretary of state mike pompeo says there could be a d