Cash trade. Here are your top headlines from the bloomberg terminal. Trumpa on the defensive. The president stands by his handling of the coronavirus on day one of the Republican National convention. Says democrats are still blaming America First Nikki Haley Says democrats are still blaming America First. The chinese arrives in europe today. Demandsla merkel answers from russia after it was putin critict the was likely poisoned. We have figures crossing the wire right now. The German Economy shrank 9. 7 in the second quarter. The initial estimate was for a drop of 10 point 1 . This is a second look here, and so it looks like it is a little better than expected. Still, of course, a massive drop , the quarter over quarter figure. The yearoveryear figure is a drop of 11. 3 , so a big drop in the german gdp. That the bloomberg economists expect a rebound in the second half, and of fullyear drop of about 6 for 2020. Lets take a look at what futures are telling us after the new record highs
World headquarters in new york. The other big news we are hearing from sources telling bloomberg that President Trump has signed off on that trade deal, phase one with china, and also avoiding that 160 billion of chinese goods being given more tariffs. The plan was for this sunday, the deal could include agricultural goods, purchases from china, not to mention perhaps those existing tariffs also being lifted. Thats get the Market Reaction right away because japan and south korea are coming online. David ingles is in hong kong. What are you seeing . David if you took that and went long in the cash market on sterling or any of these as well, certainly, 13 514 whats your session high on cable. One thing to note on this as 2 wouldthing beyond make this the biggest drop since 2009 so these are quite substantial moves you are seeing. Lets flip the boards and have a look at the open across the region right now. Overall, asia is back to the highest level since august of 2018. I am guessing wit
Also, a Senate Intelligence hearing in an hour. And the retail wreckage continues. Sears is closing even more stores and macys lowered guidance yesterday. Talking about margins. But there might be a bright spot and the name is walmart. Tesla stock hit an all time yesterday and where they might be headed with the model 3. First up, the president has chosen the nominee to be next fbi director as comey gets ready to testify on capitol hill tomorrow. Our eamon javers is in washington. What a day for news. Good morning, eamon. Good morning. So Christopher Wray will be the president s nominee for fbi director one day before the former fbi director james comey is scheduled to testify on capitol hill about his interactions with the president. The president has selected somebody new. Heres the tweet from the president just a few moments ago. He said i will be nominating christopher a. Wray, a man of impeccable credentials to be the new fbi director. Details to follow. What are some of those cre
Profitability. It all comes down to cost cuts. Hsbc heading annual cost of bout 5 billion. Jonathan he had a bit of a message for the bank of england. Alix and it come downs to the Retail Banking sector. Were going to have a big interview in the next three hours, talking commodities with the new man in charge over at oy tinto rio tinto. You look at overall at the arkets, it seems to be a risk. Jonathan s p 500 futures marginally negative. In europe, its the ftse 100 thats soft but no drama. Hsbc stands sure leading the gains. In the f. X. Market, this is the one to watch as the cable rate against the u. S. Dollar ahead of the bank of england decision. We are positive on the day but we trade at 39. 78. And ahead of pay rolls friday, ahead of the bank of england decision on thursday, yields coming in on 30year treasurys and off 30year gilds as well. Alix time warner increased its full year outlook and a 10 investment in hulu. You can glean it beat on earnings coming in at 1. 29 a share b
Malaysia tries to draw a line under it struggling state bank fund. The lapses laid at the feet of the former chief executive. Do let us know what you think. Follow me rishaadtv, include trendingbusiness. China markets getting underway and 30 minutes. Juliette good morning. We are seeing weakness coming through from u. S. Markets. Taiwan, singapore, joining in that selling across the region. The nikkei 225 down 1. 4 . Towardshas searched that intervention trigger. Japanese stocks extending falls, deepening a second weekly loss. The big selloff in commodities playing into the asx 200, down over 1 . Korea being sold off, nine tens of 1 . U. S. Stocks sank to sixweek lows yesterday. We saw banking stocks coming under pressure after comments by janet yellen. Basic materials leading the region lower, down by 1. 2 at the moment. ,ome of the big movers particularly in japan. Honda recalled 143,000 vehicles byjapan, and airbags made daicel failed to deploy. Fast retailing down almost 10 after i