For many years they know im wise to it weve had a lot of wins. This was a 7 billion win. Not bad. Washington spares champaign and Leather Goods. Uk Prime Minister Boris Johnson makes his final pitch but he receives a tepid response. The process, to be frank, a lot of work still needs to be done to reach the object of the backstop a warm welcome to street signs. We are just getting some fresh data out of the eurozone this is the final services pmi and kpcomposite pmi. The final number of 51. 6 versus 52 in august the final composite number is 50. 4 versus 50. 1 in august this comes out of dismal eurozone numbers the final manufacturing pmi fell manufacturing continues to be very, very weak. To have a look at the euro in response to these numbers. Currently trading 1. 5 lower below that 1. 10 level. To get a quick reaction, the global head of Bank Strategy from bank of america merle lynch. We got the final deep in now, touch on the territory the eurozone debt remains very weak particular
Dow briefly fell more than a thousand points over three sessions now just around that line. It will be the worst week for the year for the dow as long as it is below 26012 i think. Selloff in tech stocks leading to market decline this week. Who better to turn to than bob peck who joins us this morning great to have you back. Thanks for having me again. Appreciate it. It has been a crazy few weeks in the ipo market. What do you think people are misunderstanding or getting right . Couple things first of all, benchmark, the s p up 15 give or take. You look at all tech ipos this year, they are up a little less, around 13 give or take. If you do x, youre up 20 actually you are okay, whats interesting if you look at first tick to now, tech ipos are down slightly the question is whats driving that what youre hearing or seeing is investors are looking at a couple different things. One, whats the revenue visibility of the companies, is there a backlog of a recurring nature so one of the things
Departure of the ceo, flint, in the role, amid a report that thousands of employees are set to lose their jobs. The yuan slides to the lowest in a decade, with the move being called normal, promising to keep the currency stable weve got some final pmi numbers for the yoeurozone it is in line with the estimate we got a few days back june number was 52. 2 this is a threemonth low. Services pmi is 53. 2 thats slightly lower than the flash of 53. 3 and slightly lower than the june final number we saw of 53. 6. Interesting looking at the services new export business down at 49. 2 into contraction territory, in line with the flash and very slightly lower than the month in june of course, this comes on the back of that very disappointing german pmi we just had a few minutes before pointing to a composite pmi number for germany of 50. 9, below the 51. 4 flash, and lowest in aggregate since june 2013 for germany, the lowest numbers since june 2013 for the composite. Euro zone as a whole, pmi co
Week, setting up a fourth possible indictment for trump. Also ahead, we will explain the new development in the Department Of Justices investigation of hunter biden and the Special Counsel now appointed to that case. And plus, we will bring you an update on the Catastrophic Maui Wildfire which is now the deadliest in modern u. S. History. Good morning, and welcome to way too early on this monday, august 14th. Im jonathan lemire. Thanks for starting your day and week with us. And we will begin with the latest on the devastating wildfires burning across the island of maui. Firefighters there in hawaii continue to battle flames this morning as officials have now confirmed that at least 96 people have died. The wildfire now ranks as the deadliest in modern United States history, surpassing 2018s campfire in california which killed 85. Hawaii governor josh green said the fires will likely be the largest Natural Disaster in his states history, with damages estimated at close to 6 billion. Ha
Bringing down the sector with results from quarlcomm overnigh. And bank of england is looking for a 25basis point hike or 50 ill speak with Andrew Bailey at 4 00 ap. M. And wall street futures are coming down with the results from apple and amazon and investors are looking to see how the Performance Division is doing. We have been following Economic Data this morning particularly on the pmi front. Earlier on, we had german and french pmi numbers and now eurozone numbers for july. The figure coming out at 48. 6. The final composite pmi number for eurozone the flash figure had been 48. 9 a slight dip when you look at the services pmi, it is 50. 9. It is expansion territory with the flash number at 51 p. 1 this is the final pmi number that was Flash Services at 50. 9. The flash at 48. 9. Very interesting to take a look at the drawdown with the pmi eurozone activity does ak ex acce accelerate, but a decline with the composite number at 48. 6 versus 48. 9 which is what we have been looking