The offshore renminbi is trading at 7. 1704 right now, so another significant weakening. The 10 year yield in the u. S. , 1. 47 . It got as low as 1. 45 earlier in the session. The vix above 20 today. Lets get back to brexit. Prime minister Boris Johnson striking a storm of controversy with a plane to suspend parliament for five weeks. The queen has approved the suspension. Labour Party Leader Jeremy Corbyn is vowing to fight the move. When parliament does meet on his timetable next week, the first thing we will do is attempt legislation to prevent what he is doing. Secondly, we will challenge him with a motion of confidence at some point. Vonnie joining us from london is bloombergs jess shenkman. It seems like he has a lot of negative things to say, but never really has too many positive alternatives to put out there. But hes not the only one in this case. The speaker is calling this, and im quoting, a constitutional outrage. What is the likelihood that this gets stopped . Reporter yo
No confidence blow delaying the blow for early elections and a calmer day in hong kong the airport reopens after Police Clashed with riot protests late in the night good morning. One of the big stories this morning, the Trump Administration overnight has announced a surprise delay to the implementation of new tariffs on chinese impoexports i december 16th. But tariffs on meat, watches, flat screen tvs will go ahead on the 1st of September Robert lighthizer says his office will exempt other unspecified products that relate to health, safety and National Security concerns. On the back of that, we saw a big bounce in wall street. That continued into the asian session. The mood in europe is not so pretty with most majors trading in negative territory. Overnight, in addition to the news about the tariffs being postponed until december, we had weak data coming out of china. That is affecting some sentiment in europe, even before we got that Second Quarter gdp printout of germany all eyes on
Asia. Coming to you live from new york city and hong kong. We are counting down to asias major market opens. Paul the top stories this hour, asian stocks poised for the next open with chinas july activity data ahead. Argentinian assets and in freefall with the government valuing the peso is a political outsider shakeup the election race. Chinas property crisis is rippling into the 3 trillion Wealth Management industry. Miss payments on Investment Products highlighting wide arrests. We meet the man who could be taiwans next president. He tells us exclusively how he plans to reissue voters and maintain peace. Shery look at how u. S. Traders are issuing. We are seeing outside after we saw major indices in the new york session gaining ground. Tech stocks leading the gain, seeing the best day in two weeks. It was low volumes across the board. We are talking about august as a slow month. Even small moves can make a big difference. The russell 2000, smaller stocks, falling to that onemonth lo
Nasdaq higher, 20 points s p 500 up a little over 1 point. This comes after declines for the major indices in yesterdays session. Dow, s p and nasdaq each closed lower by 1 . The s p 500 closing below its 50day moving average for the First Time Since march 28th. Look at treasury yields. See where theyre standing right now. The tenyear note at 4. 182 and the twoyear at 4. 908 , just below 5 . The tenyear yesterday hit 4. 2684 core inflation remained at 6. 9 , unchanged from the prior month, slightly above forecast. Pay growth continued to pose headaches for policymakers as wages grew 7. 8 in the quarter that ended in june were watching shares of cava this morning sharply higher the mediterranean restaurant chain reporting earnings per share of 21 cents since going public swinging to profitability from a net loss in a year ago quarter. Revenue of 173 million Beat Estimates of 163 million. Same store sales rose 18. 2 . The cfo attributing some of the strong traffic to increased Brand Awar
Business that logged the worst session since march of 2020. 166 billion wiped out that is equal to the entire market cap of nike and amd or disney that cloud weakness spilled over into amazon. We will hear what amazon has to say tonight after the closing bell amazon shares off from yesterday at 1. 7 . Treasury yields picked up. The 2year treasury at 5. 12 thats the key level those are good facts you gave you can find a lot of companies uccompanies. Boeing ibm. Ge to lose that and still be worth a lot is the good news and bad news maybe good news and bad news morning. Uaw and ford reaching a tentative deal to end the sixweek strike. Phil lebeau is joining us with details coming out overnight good morning reporter good morning, andrew the final push for the deal was this week after the uaw called for more strikes ford earnings were set for thursday they finalized a deal. It kaulscalls for a 25 hike foe several four and a half years. There is more Profit Sharing for retirees here is shawn