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
Misses expectations. Casp casp the ceo the tariffs are entering into the game. It will be a loselose for companies and regions. Best in a decades. Zurich hales a strong first half and strikes a bull iish tone on the outlook. The ceo says cost cuts have begun to pay off the change in portfolios in Property Casualty and we continue to shape our life portfolio to be neutral to the Financial Market situation and to provide risk coverages to our customers. A warm welcome to street signs. It is thursday, it does feel like friday after some of the market gyrations weve had over the last 24 hours. Yesterday was a tumultuous day across the board, across all different asset classes. Lets talk about some of the u. S. Equities price action the biggest comeback for the year across wall street. At one point dow was about 2 weaker, almost 600 points lower on the day it spent the rest of the session clawing back up slightly ending in the red yesterday below the flat line. S p and nasdaq did manage to
Theres probably a 40 chance of a recession. Eurozone bond yields hit fresh record lows as the ecbs olly renn signals the bank is ready to hit a significant someti stimulus package. And hong kong prepares for more protests. Good morning its friday. We made it to the end of the week its been a volatile week for markets. Mostly in fixed income space but also u. S. Equities yesterday, looking at the u. S. Equity close, you would think it was a muted session. The dow was eking a gain of 0. 4 s p slightly up in the green nasdaq slightly in the red that belied a lot of the intraday volatility we saw yet the theme was bid for fixed income a lot of fear gripping the market as we see money pour nothing tha pouring into that space. You may notice theres a lot of black behind me. Thats unusual the reason thats the case is ftse 100 has not yet opened due to a technical failure we dont have the opening levels the rest of the heat map is trading solid. Definitely a lot more positive than on other day
Basic resources lead heavy losses with the sector on track for its biggest twoday fall in over three years autos shift into reverse chipmakers feel the heat with apple supplier ams sharply lower as fears rise that the new tariffs could pit the iphonemakers suite of products. And the german tenyear yield goes to an allnew low after its counterpart drops to its lowest level since 2016. Good morning. The trade truce is off President Trump blamed a lack of progress for the decision to impose a 10 levy on 3 300 billion worth of chinese goods coming this september. This sent shockwaves throughout Global Markets we saw wall street heavily in the red yesterday and that continued overnight. This is the picture for europe every single one of the majors in europe is trading heavily negative today ftse 100 down 1. 7 basic resources and some miners there dragging the oil sector as well xetra dax down 2. 3 . Again, you would imagine all of the exportsensitive sectors are impacted here. Cac 40 down 2
The Group Reiterates it fouryear guide answer despite higher cost from the continued grounding of the boeing 373 max. And hong kong has another day of protests at the airport carrie lamm warns the city is on a path of no return. Good morning its been a risk heavy 24 hours for equity markets you can see behind me in europe theres a lot of red on the screen but let me take you back to the price action in wall street yesterday the majors closed near the lose of the day. Dow, s. A. P. , nasdaq closing below. Respectively down 1. 5 , 1. 2 you can see the redness in negativity is picking up and that continued into the Asian Session overnight. There are a couple things that the market is dealing with here. Number one, growth concerns. At no end in site to the trade narrative between china and the u. S. But yesterday we had an additional element to think about. That was the temporary shutdown of hong kong airport that sent shockwaves throughout the region and into the european session as well