Afraid. Alix the cotton crop is the most vulnerable now. In the markets, this is your job set up in the middle of easing from russia and china. Both of those contributing. Yesterday. Her continue to see some followthrough buying, up 0. 1 taylor the dollar is kind of back up 0. 1 . The dollar is kind of mixed. You had a sort of large selloff block in asia in the treasury market, so that exacerbated yields moving much higher, but crude all of the sudden off by 0. 2 . Off by 2 . Time now for the global exchange, where we bring you todays market moving news from all around the world. Going us from hong kong is bloombergs jeff black, tony ahrens in london, Francine Lacqua in italy, and Michael Mckee in washington. We want to start with china, where the countrys central bank announced it will cut reserve ratios for banks. Bloombergs jeff black is in hong kong. Put it in perspective for us. Jeff good evening from hong kong. This is all about the ongoing slowdown of the chinese economy, the on
In part because the chinese did respond to our last hike in tariffs. A spokesman for Chinas Ministry of commerce quoted as saying that escalations of a trade war wont benefit anyone two sides still planning to meet in september of course, much of this rhetoric or communication is what weve been seeing for some time. I dont think any of it necessarily means the chinese are not still in a stance that sort of has them backing off from full engagement that somehow would lead to a deal in the near term. I think it was a surprise olive branch, maybe, taken as good news by the markets that things werent going to escalate even further at the moment but youre right, in terms of a deescalation, theres not much evidence september 1st, this weekend, were set to have a new round of tariffs go into effect on products coming from china into this country smart watches, bluetooth headphones, flat panel tvs, some footwear december includes cell phones, laptops, clothes, and toys the retailers that repor
Do not finish higher. Facebook and google, alphabet really bracing for antitrust probes. You can see the shares down 1. 8 . Allon, netflix and alphabet lower. The overhang of big tech being regulated has weighed on this. Lets put this into the weekly. Something did happy, the faang the closing back. Back to 2015 and a high of 2018, the complex rising 170 . Incan see from 2018 stuck this range, the facebook social media rose, the regulation fears, now down 10 from the recent highs of big spreads for what the s p 500 is doing. These have got to get on board if the s p 500 will continue climbing. This chart is not so bullish or bearish. It is stuck sideways so it will be interesting to watch. That has notething been stuck sideways is the bond market. I want to bring it back to that space because when you have conversations about the slides we have seen in yields, many bring up supply and demand dynamics. The idea that there are so many negative yielding bonds overseas that if investors ar
Opened. It looked like we were headed for 1 plus drop. Lets get the details on what happened overnight. Time now for Global Exchange to bring you todays market moving news from around the world. Joining us on the phone from france is bloombergs maria tadeo. From hong kong, we have enda curran. Here in new york, bloombergs michael mckee. We start in france with the g7 summit wrapping up. We just heard from President Trump and indian Prime Minister narendra modi. The highlights from this morning, and what happened over the last 72 hours . Maria the conversation here was mostly about trade. European officials were concerned that perhaps donald trump would go off stripped would go off script and could signal a recession in the trade war. Goodid he had a very meeting with angela merkel. Remember, the relationship between the two of them has been rocky at times. He also said hes looking forward to working with the european union. The other big surprise was that very short trip from irans for
Pretty simple chart. All about the s p 500. So often, we talk about the wild swings, the 1 , 3 moves. Dayou can see in blue, 50 resistance level 2950. Yellow comedy 200 day at in yellow, the 200 day. We are getting a lot of intraday swings, long term, it doesnt seem like the s p is going anywhere soon. Im looking at the Ishares Semiconductor etf, which is seeing inflows even as we saw trade tensions. 250tors added about million on thursday, the largest inflow of the year, then added another 50 million on friday. They Held Companies like nvidia, qualcomm, intel, companies that are sensitive to trade headlines. Lisa thank you so much for that. Ubsl with us, jason from Wealth Management and bloombergs luke kawa. Isntare range bound, why that an argument for income . Jason it is not a bad environment for carry strategies. We went overweight emergingmarket. They give you pretty good yield. If we get a risk off environment, rates fall. Gethey rally, then you spread compression. In an environ