The dow wiped out the last of its gains made for the year so far. Shares of chinese real estate Giant Evergrande jumped by 28 as trading resumed in hong kong, after being halted last week. We will put up those figures for you as well, and as you can see the debt laden Developers Stock market valuation has fallen by almost 99 since july 2020. We should also point out that it is a penny stock at this stage, just to put those numbers in context as well. Over the last year, it has come to light that the Evergrande Company is the worlds most indebted developer, with liabilities at over 300 billion. But its not alone. Other Smaller Developers have also defaulted on their debts, leaving unfinished building projects across the country. The Chinese Government has announced more support for real estate companies, including encouraging banks to extend the repayment periods on loans. The Property Market accounts for around a quarter of the worlds second largest economy. That is why it is all the m
In the works on the back of surging copper demand. Later, the white house announces another multibillion dollar award to another giant. Its thursday, april 25th, 2024 and are you watching Worldwide Exchange. Good morning thank you to much for being with us before we get start ed, a quick news alert the Biden Administration announcing a 6. 1 billion Funding Agreement with micron under the chips and sciences act. The deal will be in support of the construction of the facilities in new york and idaho. Micron investing 125 billion into the projects. President biden will be in syracuse, new york today we will have more this later in the hour look at micron shares down over. 13 . Turning back to the trading day ahead and the check of the futures after a mixed session for stocks dow snapped the foursession win streak and you can see all three are in the red this morning nasdaq is down 1 . The s p down. 50 . You see the dow looking like it would open over 100 points lower. Of course, the big s
Futures for tech. Lamborghini rolls out a luxury suv. We will speak to the companys ceo at 9 00 a. M. U. K. Time. Looking forward to that. Matt absolutely. I am looking forward to seeing how we open up this morning because of that tax news out of the u. S. It will be interesting to see how this rotation continues in europe. We have some chipmakers. In finney germany and the Big Industrial Technology Companies across the continent. Take a look at what we see in the futures, positive indications with the exception of the cac 40. There is a catalonian issue we will talk about as well. Although very little change in those Index Futures on the dax Index Futures. A gain of 1 . Take a look at treasuries. Not a lot of movement. The perception of a dip in yields on friday. We have been trading pretty sideways at 2. 388. 2. 4 percent but not going much above that level. Guy lets take a look at the gmm and show you what it is showing us at the moment. And want to focus on what is happening over h
Lower this morning. This is bloomberg television. We are bringing you all the news you need to know from london and davos well go to davos in a moment. Haslinda is there. Whats on the agenda today . Haslinda well, it is the Global Economy. There is a lot of optimism. Modi earlier and he said he is confident about the Global Economy and especially about the italian economy. Ill be sitting down with volkswagen truck chief, and then later on, mario santano, the urogroup. Of the e dont miss the interview with tony blair. Guy thank you very much. The coverage continues to be fantastic out of the swiss alps. Lets talk about what is alps. Ning in the the next few days could be something you need to think about because the way the market is to work is rebalancing those portfolios. Keep an eye on that. The nikkei was trading down because the japanese yen was trading up through that 110 level. Kuroda, looking increasingly out of control on this story. The bloomberg dollar index, down by another.
In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I