Hello and welcome. President trump and chinas xi jinping are in a highly anticipated meeting at the 620 summit injapan to discuss the bitter trade war between the two countries. The chinese president has appealed to the us president for dialogue rather than confrontation. All eyes are on whether this meeting can break the deadlock or make some progress towards a truce. Ourjapan correspondent, Rupert Wingfield hayes is at the summit in osaka. What can we expect to come out of this meeting . Here in osaka the meeting between xi jinping and china and donald trump, president of the United States is still going on, it is the meeting eve ryo ne still going on, it is the meeting everyone is watching to see whether the trade or between these two economic giants can at least be put on hold and some sort of truth be called so they can get back to negotiations. Going into that meeting just before lunchtime, both leaders well, i would say, upbeat, the mood was positive. Resident trump saying it wo
As well and have a look at what is going on with these indices. Hong kongs Property Index down. 8 . Homeserage value of new in 70 major cities in china, excluding governmentsubsidized heading, up. 71 in may according to data from the office. That is greater than the increase we saw in april, which was about. 6 and less from what we saw in march as well. Robust april as well. It is not helping these Property Companies which are currently moving to the downside. Have gotll you who we coming up at this hour. We will be speaking to achieve equity strategist and peter hammero will speak to us about the prospects of two therein. Su keenan has the first word news. Su we start with the iran earthquake. , iran says it will breach the 2013 nuclear deal on iranian stockpiles within days ease therope helps pressure. Tehran says it will exceed the caps on lowgrade uranium mergers on june 27th. Enrichment beyond the level intended to prevent the making of weapons grade material. Europe is urging ira
And, tit for tat china gets ready to weaponize the supply of rareearth metals as the trade war deepens. There is an etf is tracking the critical minerals. Whether you embrace or reject etfs, they are an early indicator for bigger shifts in market sentiment. Lets get the latest from eric. One week later, things have changed completely. Eric thank you. I call it what a difference the fed makes. We look at one week flows, and it paints a really dreary picture. We have been talking about how Retail Investors have mostly held strong and not taken the bait, in terms of selling out. The last couple of days, they have rushed into safe haven etfs. Look at the amount of treasury etfs here in all durations. 8 out of the 10 were treasury etfs. Gold was in there. Lets see how that compares to the past 50 weeks or so. Q4 was crazy, we are getting to that point. A lot of it is treasuries again. A little gold here. This is only two days. If the fed had not stepped in and reassured markets, we could be
Stuart shake it out. Florence and the machine. Okay, lets move on. Good morning, everybody. Its 10 00 eastern. Straight to the money. Look at this on the markets. Weve got the dow industrials now up just over 100 points and nasdaq down 25. Not that much big Time Movement in stock prices this wednesday morning. The 10year treasury yield, we have it at 4. 22 now. The price of oil, 81 per barrel and gas prices by the way are still going up 90, there you have it. Bitcoin, not moving much, 29,059 per coin. Thats the markets on a wednesday morning. Now this, for 40 years, from 1980 to 2020, china was the marvel of the world. It became the workshop of the world. A stellar performer where hundreds of millions were lifted out of abject poverty. That was the mantra, it is deal. Leave us in power and well make you prosperous. That was the deal. It worked. Now its not working and you have to wonder what happens to the deal. The pandemic was the pivot. A long and near total lockdown was imposed and
Vix at 16. Jpmorgans point this morning was typically, you have the s p down two plus maybe a dozen times since covid. Couple of those were in the depths of covid but generally, its when the vix was about 20 unless we get a shock, maybe the selling is going to end soon if youre looking for why today, theres a slew of reasons. Started overnight in china with weaker Economic Data across the board even though we got a rate cut there, which should be supportive top data in the u. K. And in the u. S. , the data was mixed retail sales, a lot stronger but markets quit trying to figure out whether good news is good or bad news is bad because it keeps the feds hiking rates higher for longer that 1 control group number that feeds into gdp, thats something people were talking about for a monthly gain that was double the expectation and signals the consumer is still in good shape even though we got new York Manufacturing going back into negative territory and showing a lot of pain there you see go