Wednesday. It started with a trio of Central Banksnt cuttingest rates, and that led to a sharp drop in ghnd yields, ghting the concern over trade tensions between the u. S. And china. At, in turn, led to a flight to safety. Investors piled into things like government bonds and gold. In fact, gold traded above 1,500 dollars an ounce for the first time in six years. Stocks sold off. The dow down nearlynt 600 p early on. Oil also sold off, falling more than 4 . T then the buyerstepped in and stocks reversed course. The dow finished down only 22 points to 26,007. The nasdaq rode 29 and the s p climbed 2. The indexes 2 reversal was its biggest comeback of 2019. Bob pisani has more. Reporter it was another wild day on wall street, the dow plunging almost 600 pointsly ear on before rebounding to end f essentiallt on the day. It was one of the great comebacks of the year. Mounting trade tensi heightened fears of a possible global recession, that has put more pressure on Central Banks including
Testifiesller finally but his longawaited appearance falls somewhat short of democrat hopes. Shery we have breaking south korea gdp numbers for the Second Quarter. The preliminary numbers year on year are seeing growth of 2. 1 , which is better than the expected 1. 9 growth. It is also an acceleration from 1. 7 in the First Quarter. Quarter on quarter, those numbers also avoiding a technical recession after contracting 0. 4 in the First Quarter. We are now seeing quarter on quarter growth of 1. 1 , which is better than expected. It seems that we have seen more Government Spending and south korea. The contraction that we saw in deceleration in the First Quarter came from local governments not spending as much. Now we have Government Spending kicking and again. Also consumption being relatively resilient despite the fact we have been getting contracting freddie lacks exports contracting the last seven months. This has been a difficult environment for south korea. Investments have been fa
Future of the u. S. Economy. And given how stocks have been trading around the world lately, investors appear to more ncerned that the trade war between the United States and china will linger for a while, further damaging the Global Economy. All of that fueled another rally into the safety of treasury bonds, sending some yields to multiyear lows which some analysts say could be signaling a comingrecessio one strategist today went so far as to say that the wall street bear isnd alive kicking. That may be a bit extreme, but there is no mistaking how concerned the market is about the economy. By the way, toward the close, there was a technical issue with trading computers. Its not clear if all of the volume was reported or if som of the prices of the indexes were affected. You might see different numbers elsewhere, but these are the numbers we have at the close today with the dow down 389 points to close below 26000. The ndaq fell by 95, the s p down 35. Bob pisani starts us off from the
Havent lifted it before, see what that podium. To be stewed. It is like to be on the wrong end of it is like to be on the wrong end of it as and coming up before 12 30 it is like to be on the wrong end of itasa it is like to be on the wrong end of it as a captain makes me very hungry to be the one student that podium. Asap rocky is due to take the stand in sweden where hes and coming up before 11 30 on trial for assault. Asap rocky is due to take the stand in sweden where hes on trial for assault. Good afternoon. Welcome to bbc newsroom live. We begin with breaking good morning. Welcome to bbc newsroom live. News this hour the government has announced the bank of england has left the additionalfunding to prepare the uk in the event of a no deal brexit. Interest rate unchanged, it remains the chancellor, sajid javid, says ata Interest Rate unchanged, it remains at a quarter of 1 . The bank of the extra £2. 1 billion was necessary england has left Interest Rates to ensure the uk is prep
Beijing holds purchases of american crops. Salvini pulled the plug. Italys deputy Prime Minister calls for early elections, saying the coalition no longer has majority. Rubber, burning money. Uber posts a loss of more than 5 billion. The stock falls more than 6 in late trading. Matt good morning. Im looking at the euro in pounds this morning as some for fair for repair for european vacations. We are almost at the highest level we have seen since the financial crisis. That this goes back to 1975, quite a long ways. This is 2008. This is the highest point on the chart and we are getting back up there is my point. Watch that closely. Looking red, but not as bad when you look at the green we saw yesterday. Klos across equity markets. The cac was at more than 2 . A loss,res pointing to but nothing compared to the gains yesterday. What do you see on the gmm . Anna volatility seems to be back. Overnight in the asian session, we see very risk on risk off signs as a result of that huawei news.