Unprecedented disruption the swiss luxury giant flags a strong recovery in china heineken trades lower as the beer maker plunges prompting the group to intensify cost cuts. In frankfurt, the ecb faces a crucial test will look to prove that it has more fire power needed we bring you more coverage to this runup to decision time. The chinese stock markets plunged into the close despite encouraging growth data. Shanghai composite 4. 5 lower. Marking the worst daily performance in each index since february the china gdp grew rebounding from the First Quarter recession as they use the lockdown and First Quarter stimulus more on the chinese data. A bounce back from growth from q 2 after strict lockdowns and travel restrictions and some of that stimulus kicked in if you look at that key data for the month of june, industrial output lead to the recovery and third output growth of 4. 8 suggesting demand is improving fixed asset improvement fell 4. 81 . Also better than expectations and retail sa
Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
Illinois. And otherwise known as the dccc. Enter her previously, she spent nearly two decades working as a journalist rated in 2018, two in the election by 24 points. The largest victory from any rydemocrat in a district that trump one and 2016. So she has or knows a thing or two about campaigns. So we are delighted that she was with us and we also have her partner rated was the executive director of dccc since the september of 2019. Shes the first latino to pull the position pretty previously, she was the Vice President of campaigns and she worked at the dccc. Aso she is now come full circl. Talking to you both. Going to talk with them this evening about the reference to expand their cost majority build on the success that we also in 2018 year of the woman. They will give us up reef of the historic nc palace now. And i went to the Democratic Womens watching some of the district they are targeting. And we will talk about some of those women as well. In the bottom of your screen, youll
Strong testing and seeing a falling coronavirus cases. Those of the top stories. France 24. We start with wuhan. The chinese city at the origin of the outbreak which has oll byd its death t 50 . The adjustment comes amid mounting criticicism of the countrtrys hahandling of the pandemic. Authoritieies initially try to cover up the outbreak, reportedly punishing doctors who raised the alarm online in december. The Foreign Ministry claims there was no lack of transparency. I asked our beijing correspondent to break the numbers down for us. Figure ofook at that an increase in 50 of the number of covid19 fatalities in wuhan. The authorities i in the city explplained the increase byby te fact t they cononducted an invevestigation, a d detailed investigation into the Data Collected over the past few months, whether at hospitals or funeral parlors or the citys securityty services to see if their previous estimates w were correct. They amended that data with these new deaths. They explained it
Scarlet i am looking at the advanced decline line. Volume also picked up quite a bit. Nasdaq, the s p, and the of at least 20 above the average we saw last week. The sense of optimism broadening here. Technology and utilities leading the way up. The laggards are energy have just which we discussed. Each up at least 4 , so when you. Ee laggards lets bring back our guest, michael shaoul. How do you think about inflation . Everyones mind is still on disinflation but with all this stimulus and Interest Rates at zero, there is a point where we need to worry about rising prices, no . Michael yes. If it happens, it will be caused by supply disruptions. I think there are sometimes you have to worry about that. Inflation,ply driven especially in agricultural prices, that is something to be legitimately concerned about. Cap the indexes. From is already suffering deflation caused by swine flu virus. I dont think we will have a replication of that but i think locally, Agricultural Supplies are pro