Comment on just todays effects, but if we take a step back, what has been happeningthe direct effects between the u. S. And the uk or the u. S. And china of the actual tariffs and, you know, theyre starting to get up towards potentially over the course of the two, threeyear period about one percentage point lower for u. S. Gdp if they all remain in place. There is the direct effects. What is happening globally is a confidence effect on business. Business confidence, not just in the u. S. And china, but all across those supply chains more broadly because its not, as you know, just a series of measures between those jurisdictions. We had issues around auto and still have issues around steel and we have issues in terms of the technology complex, if i can put it that way. And those effects are at least as material as the direct trade effects and those effects are impacting all of the economies around the world and thats what started happening. Now that is starting to play into the outlook
Nikkei up. European equities right now as well a bit of a mixed picture ftse up slightly the tenyear note is trading at 2. 053. Now to the big story of the morning. Details on the hack capital one disclosing a massive data breach that affects 100 million u. S. Customers and 6 million in canada. The company says 140,000 social numbers and 80,000 Bank Accounts and 1 million Canadian Social insurance numbers were compromised. It says the largest category of data that was exposed was from credit card applications including names, addresses, phone numbers, dates of birth and self reported income the hacker also accessed customer status status such as payment history, Credit Scores and credit limits. The breach occurred in late march. The hacker accessed information through a vulnerability of the servers in an unnamed cloud company. The fbi arrested a suspect, Paige Thompson shes a former engineer at Amazon Web Services. Authorities allege thompson posted some data on gethub and a private ch
Grandmother in west bank on humanitarian grounds. On twitter, the michigan Lawmakers Said silencing me and treating me like a criminal is not what she wants for me. It would kill a piece of me. Israel said today that it will let her visit her family one day after refusing entry along with fellow congresswoman ilhan omar. Trump administration has informed congress it plans to sell f16 fighters worth a billion dollars to taiwan, a move that issue to escalate already high tensions with china. Two u. S. Officials and a congressional aide says the administration have informally notified lawmakers of the proposed sale. The deal would behind the controversial because china loosely opposes all arms sales to taiwan, which it regards as a renegade province. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. Live from bloomberg World Headquarters in new york, i am vonnie quinn
Merger deal with pfizers generics unit. And disney domination. The studio breaking an alltime record for annual box office earnings, and of course, it is only july. So, theres a lot for investors to digest this week with stocks at record highs. Jim, coming off of those on friday, you were out, but a lot happened good to have you back. Thank you the starbucks calls kind of the emblematic of what happened this quarter. Starbucks had run big. So you had to figure, no matter what, how could it really move then it goes up big dollars because its better than expected, better than feared what were seeing are companies that we were worried about because stocks have run, and then the stocks do okay. So, this is a short sellers dilemma. Lets say youve been betting against companies because you truly believe theres been an earnings deceleration. If earnings just stay in line, the stock flies. If earnings are a little bit below, the stock doesnt do anything. Right. So, theres just this kind of bid
Markets. Stocks are hovering slightly, a mixed bag. Dow is slightly higher, up. 2 s p 500 is down. 2 , and had nasdaq down by. 6 its the defensive sectors leading the way today. Real estate, health care, consumer staples, which by the way, hit a fresh alltime high today. Tyler. Thank you very much, melissa. The big story were watching is what will the fed do and how will the markets react we have been talking about it for weeks, maybe months now. Were less than 48 hours away from one of the most anticipated fed meetings maybe ever. Steve liesman will be there to bring us the news, but hes here now to bring us some analysis. Steve. I think the context for what youre saying, tyler, is the fed is meeting under extraordinary circumstances with markets screaming for a rate cut, and unprecedented political pressure from the president of the United States in fact, with the fed on the verge of giving the president the rate cut hes campaigned for for months, the president tweeting out this morn