Actually, if people are lawabiding, they never think about endangering National Security, there is no cause for concern whatsoever. Is if therelegation is a National Security law in hong kong, the law should be enacted in hong kong by the Legislative Council. It should not be happening in beijing. The Hong Kong Government has been kept in the dark and the process. Again, this is wrong. Firstly, this is a national law. Of course if it is International Law it will have to be decided how to enact the law. Now, basic law states clearly that for matters of national , thise or Foreign Affairs is a matter for the cbg. No one would question that National Security is something outside the high degree of autonomy. Its a matter of sovereignty of the country. 18 after basic law, theres a process that allows National Laws to be added for implementation through hong kong through a specified procedure. The third point is the political reality. If you believe given the current political reality, given
By 10 , wiping 32 billion from the economy. Shery lets get you started with a quick check of how the markets are trading at the moment. We are seeing more gains for u. S. Futures, up 1 10 of 1 . This extending those gains after the regular session so i late rally in new york on monday. It is another big earnings week. We have more than 160 s p 500 Companies Reporting this week. Higher by0 was led energy, tech and utilities. We did see pressure from u. S. Airlines, that fell after Warren Buffett set after the weekend they have sold out. Wti that the moment, we are seeing more upside which is now above the 21 a barrel. We are seeing five sessions of gains. The highest in more than two weeks. Oklahoma, the key u. S. Storage hub closing last week. Trumps push to reopen state economies is clouding efforts to predict the potential toll from the coronavirus. Hes revised up his death projection to 100,000 across the country, a significant he number than previously thought. Emily wilkins is in
Money market mutual funds. Welcome to daybreak europe. Extraordinary action as usurps theagarde Bond Buying Program with a pandemic Bond Buying Program and considering raising selfimposed qb limits. You wonder if omp is in the cards. We are still seeing this Dollar Strength as if these centralinary times for bankers also in markets with all people wanting to get their hands on dollars, seeing almost indiscriminate selling across assets as everyone just wants to hold cash. Tosef extraordinary times say the least. At the end of the day, this greenback strength is now getting to a stage where it is causing major dislocations and other key crosses in terms of the fx space, but also we have this mountain of dollardenominated debt in the emerging market space. Seven point 8 trillion globally. Thats going to be an issue in terms of interest payments. Raises the stakes for further coordinated responses in terms of Central Banks sitting together and to come up with a plaza cord. You do wonder w
Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue
Apple warning that coronavirus will hit revenues. The drop in apple surprisingly small. Flat as investors see little new in this reboot. We are going to get 35,000 job cuts, though. And franklin buying legg mason. L scale project s of protect active Asset Managers from the storm ripping through this industry . From london, im guy johnson, with vonnie quinn in new york. We are counting you down to the european close on bloomberg markets. Vonnie grinding lower, but slowly. We are down zero. 4 on the s p 500 as more and more companies talked about the impact of the coronavirus shortterm and more intermediateterm on their businesses, including the apple, and of course which is what spooked the markets after a possible turnaround day yesterday. Apple said it would tried to china said it would try to shore up its economy. We are also getting some good earnings reports helping shore up some of the market. Gold futures above 1600 an ounce, and that is all just in the last few minutes. It does