Matt u. S. Authorities worn americans to prepare for a can potentially coronavirus outbreak to prepare for a potential coronavirus outbreak. Meanwhile, rio tintos windfall. They report their highest fouryear profit in eight years on a surge in iron ore prices, but the Company Warns of significant uncertainty if the coronavirus persons. And a South Carolina freeforall. Democratic president ial candidates turn on Bernie Sanders and his rivals came to stall the front runners momentum. Matt, let me pick up with whats going on with breaking news this morning. Weve got a number of corporates reporting. Lets get to the luxury sector with hermes. 10. 7 . S up by the estimate was an increase of 10. 7 . Thats a redhead line across the bloomberg this morning. Still talking about ambition, some commentary coming out of the luxury french business. The ceo is saying it is too soon to know when sales will rebound. There is a potential normalization from coronavirus in china. In china, there has been
China trade relations and the possibility that the u. S. Might stem flows into china, its doing technical damage. We have been looking at this chart this week. Here islly stands out the s p 500 being stuck in a range for a year. The fact that new highs are not being put in. Today, on the weakness, we have a lower low over the last two weeks confirming the s p 500 could drop below 2900 even below 2800. That is supported by the rsi that is clearly rounded down. That is supported by lower highs telling you bullish momentum is waning away. Guests saying they see defensive positioning for the month of october. It could get pretty volatile for stack stocks. Click now to the bell has wrong on the u. S. Session, lets look at the chinese markets. Sunday night, this will be the main focus sunday evening after this bloomberg report about the white house considering limiting portfolio flows into china even potentially delisting some of the chinese stocks that are listed on u. S. Exchanges. Some of
Of a uk election still looms, despite the governments double defeat in the house of commons 48 hours ago he was leading the chants of stop the coup, let the people vote. Now hes saying, stop the election, stop the people from voting two year treasury yields hit the lowest level since 2017, while Goldman Sachs ceo tells cnbc exclusively a recession could be on the horizon. Bond market is reflecting a sentiment there is anxiety about the prospect of a recession, in the u. S. Less evident in the data, perhaps more evident in a variety of different markets like germany here in europe. But it is possible well, markets are trading a lot more buoyantly overnight, especially on the news that the two sides, china and u. S. , are reportedly going to have a meeting in october thats given a relief rally to asia markets and u. S. Futures as well as were heading into this european session you see there is quite a lot of green on the board already for the stocks 600 after the better session yesterday
Anna relief in hong kong . The hang seng stormed toward the close after reports the chief executive carrie lam with withdraw the controversial extradition bill. Boris, beaten. U. K. Edges toward a snap election as a cross Party Alliance moves to block you know deal brexit. The antieasing brigade. Noc rosengren says he sees need for immediate policy action and the chorus of voices against bond buying grows at the ecb. Good morning. Matt good morning. Less than half hour from the european open and looking at the japanese yen to see what kind of effect the removal of the extradition bill is having on risk sentiment. This is a threeday chart. Maybe a little easier to see what is going on in those terms if i put it in a oneday chart. The yen is weakening. More willing to take risk after the extradition bill has been removed. That reaction should show you how important these hong kong protest have been to Global Markets. Look at what we are expecting in todays trade in the European Equity in
That. Flairs that today proved to be fire hazards twice this week. The new eastern span of the bay bridge, plagued with problems, experiences a new issue. The potential danger of discarded roadside flairs. They are believed to have sparked this smoky fire around noon today, and a similar fire in the same spot monday night. Surveillance footage of the area helped identify flairs as a cause of both fires. We have crews that were actually seen in the video, actually placing flairs on the eastbound lanes. It is thought that those flairs were probably either moved by the wind, or passing traffic, that rolled a flair into the great area. Reporter the rubber seal that covers the expansion joint caught fire. There was approximately 6 feet of seal that was damaged from the fire on monday evening, and today, there was approximately half of that. About three feet. Reporter caltrans crews carry flairs and routinely use them to warn drivers of maintenance work. They raise questions about the vulner