Charles evan calls for credibly important government stimulus. Australia heads into Earnings Seasons amid the first recession in decades and a virus pandemic that is crippling the economy. It promises to be one of the most challenging periods on record. Here is how markets are trading. We are seeing u. S. Fewer sugars u. S. Futures under pressure. We had ask leading u. S. China tensions fan yelling fanning the data. The bloomberg dollar index flat at the moment. This after a fifth consecutive weekly decline that will be the longest losing stretch since january of 2018. The offshore yuan is flat at the moment. This after the yuan led declines in asian currencies. We have President Trump moving to been tiktok and we chat. Hang seng futures down to tense up 1 . Under pressure from the last two sessions. It is a thin trading day. Singapore and japan are closed. We have a china data blitz that could be confirming the recovery we are seeing. We have ppi numbers. Not to mention retail sales a
Permeate. It has largely been driven by the concern that we dont have a handle on the virus and we dont have a handle on a solution for this difficult situation we are now seeing involving washington. It doesnt seem to be at the moment a landing zone for the democrats and the republicans. They are significantly far apart. The fact that you heard such partisan briefing suggests we are no closer. Thender at some point markets will have to shift from focusing on the dollar to shifting to other Asset Classes as well. That has been something we have been watching very carefully over the last few days. We have been watching carefully what has been happening in europe. Offpean equities are sold because of the resurgence in the virus count. That doesnt make sense if you believe that we are going to see a story developing in the United States. We will try to get an assessment of what is happening with the economy throughout the program as we continue to watch what happens in the United States.
After President Trump hinted at even more trouble with china two steps forward, one step back when it comes to talks of the next round of virus stimulus House Speaker pelosi told us it is thursday, july 23. This is Worldwide Exchange here on cnbc good morning. Welcome to wherever in the world you may be watching. Im Brian Sullivan another day, more records . Could be futures are higher up about 80 points nasdaq futures are up just about 1 all this after the dow closed above 27,000 capping off a threeweek win streak as it stands right now very early or Late Wednesday morning, the dow and s p 500 are on track for fourweek win streaks. If we get that, that would be the longest weekly win streak for the dow since november 2019 and for the s p 500 since december 2019. Now an even better one for you some good data there you might think it is all about the big five faang names maybe not. Take a look at the number of consumer stocks trading at alltime highs best buy, chipolte oreilly auto part
Which saw the brunt of the fallout. Billion but in60 the positive this tuesday morning. And now performer coming up by 1. 2 at a 52week high. Samsung among gainers. Numbers we sawp today, 42. 9 declines, a long road to recovery for the singapore economy. Malaysia up 0. 2 . Look at where we are in terms of the dollar, showing a little strength today, up for a third day. Forging rising risks holding the dollar with the november elections approaching quickly. Down 0. 4 , still close to a record last week. Good to see the tencent recovery, but not close to making up for all the losses we saw the last two sessions. Our top story with the u. S. Tensions and china retaliating with sanctions on u. S. Officials. And ahead of those trade discussions. We did a phase one deal, it was a wonderful deal. All of a sudden it means very little, that will never pay the loss of life in our country and around the world. We view china differently than we did eight months ago. Yvonne looking at china differe
The 3 trillion weve spent plus a trillion dollars more. Thats about 20 of gdp. Thats absolutely historic, and were prepared to put more money on the table softbank returns to profit with a 12 rides se investor shares soared towards the top. Sales grew by 67 in the Second Quarter. Stock markets here in europe have been trading for about an hour so far, and the direction of trade has been very firm. Weve seen a very decent rally play out after initial gains thats now translated to a pop of 1. 7 on the benchmark index, a fair amount of green at a stock level sector level and by industries you can see how the core markets are faring today we did see some early gains in the german stock market, and that is now actually outpaced by italian stocks taking the charge french and german stocks slight underperformance again by the uks stock market, just 1 3 4 of a percent yesterday. It was curious we saw the german stock market, one of the laggards which is typically not the case, but certainly re