Continuing to be all about tech. Surging since the best monthly performance since 2000 u. S. Equity futures, youll see at this point you are looking at some green arrows across the board. Nasdaq indicated up. Dow is up, so is the s p 500 well talk about zoom. It is those Technology Stocks leading the way. Looking here to date, they are up more than expected. Looking at the treasury market, it looks like the 10year is yielding around the same amount of 0. 726 . Zoom, huge news. Right now, top single stock of the day is zoom the stock is on fire that may be the least impressive thing. Jumped over 300 year over year. Free cash flow up 2,000 year over year. New customer subscriptions delivered 81 of the Revenue Growth and less customer churn than expected. Kelly will join us to dig through the quarter at 8 30 eastern time stock up 80 right now how would you like to be in a business where your Free Cash Flow was up 2,000 it sounds like a kids lemonade stand. Thats what has happened to zoom
Or rather, which is worse than expected. We had expectations of 0. 1 . Rishaad exactly and thats currently where we have industrial production. Coming inese are pretty much bang in line with what we were expecting. The retail sales and only showing this contraction for july. Lets get over to bank of chief chinarities economist. Headlines pretty much what we were expecting, but tell me, what sort of picture is it painting for you . That atlly, i would say first glance, this set of numbers does not look extremely encouraging. For several, industrial output ip we would have thought it would be somewhere around this in belowt still coming 5 implies that the momentum of continued industrial recovery seems to be moderating. I think that is number one that i got out of the data. Number two, if you think at investment, thats roughly in line, but we need to look at the breakdown for example properties versus infrastructure to know what is going on. More importantly, retail sales i think to a la
All report Record Numbers of daily deaths. We are getting set for samsung results. We will find out how the pandemic has hit south korea smartphone makers later in the show. A look at how we are shaping up this thursday session. We will start with u. S. Futures. All eyes really looking at the fed, looking at jay powell. He said this is particularly the biggest economic shock in memory for the u. S. Prospects for further monetary stimulus, just incremental progress when it comes to negotiations, more fiscal stimulus, i should say. Chicago nikkei futures looking unchanged. It is a massive earnings day in japan, expecting results from hitachi, panasonic, as well as waiting on japanese retail sales. Retail sales coming out of hong kong later on. That is expected to be another grim picture. The yen, wonderful 97 is where we are. Steady below that one of five handle, the dollar coming under pressure from that super dovish fed and the dovish comment from fed chair powell. 41. 37, getting that
Very, very, varied longtime. What does that mean for u. K. Asset . Strategistnvestment is joining us now. David, the u. K. Economic outlook is really bad right now. We have had a bounceback a little bit in the month data, but it makes grim readings. U. K. Asset pricing enough in terms of the downside . Dont think they are pricing enough bearing it was a truly terrible q2 gdp number. That was expected. At the moment, investors are taking some comfort with a decent pmi number for the u. K. Some of these monthly gdp data from the statistics have been revised up for june. After such a big decline, we are going to get a bounce in q3. We may get doubledigit growth in q3. For the headwinds are really significant. It is being massively underreported in the u. K. It has been a sticker shock for investors and for households and consumers from the furlough scheme. This brexit is still hanging out and never seems to go away. Alix what is the down lot what is the Downside Risk to the furlough . Is
Focus in china, the unraveling of the chinese stock rally. Seems like things have stabilized after we saw one of the worst selloffs since the gdp eight out of china. You see china targeting large caps, small caps and the latest is kwai chow moutai. Yesterday, climbing back with the stock. Record after we saw a spike in virus cases yesterday. Watching other things with indonesia markets opening up, focusing more on the Bank Indonesia rate cut, cutting rates for the second time as growth sputters, the stocks are up. 4 area strength in the rupiah. Up. 4 . Strength in the rupiah. Nifty, futures pointing to a positive open. Yvonne the Trump Administrationyvonne is turning on some of americas Biggest Companies saying they are pawns of china. Attorney general bill barr says disney, apple and others are working at the expense of u. S. And western democratic values. He said disney and apple have been manipulated by the communist party interchanging strategy to make money. The coronavirus contin