Winds that could reach 40 mph. It is headed for the Tourist Centers of cancun and kosovo. It could cause as much as 10 million in damage. It is to hit somewhere between louisiana and florida. Spacex has launched a rocket carrying 60 internet satellites. They will join hundreds of others in orbit around the earth. Recent launches have been plagued by a variety of problems. Spacexs billionaire ceo, elon musk, said he checked launchpads before todays mission. Global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york. 1 00 a. M. In hong kong. Welcome to bloomberg markets. President trump is back in the , painting a sign of strength and vigor. Any vaccineance for approval means it will likely come after the november election. We have all the latest. We will also talk with the herbal life chairman and ceo. Ins, how much is that doggy the wi
Only in credit, investment grade, high yield. That you go to the dow, which has typically been the laggard. Some of the big winners, caterpillar, home depot, boeing, classic industrial procyclical trade that our guest was referring to earlier. To more, i want to go back our guest from market field asset management. How do you make days like today when everything is positive, it seems like we are in the all clear, yet we know that might not be the case. Curious on days like today how much of this comes from a procyclical trade overseas in china relative to perhaps any optimism here in the u. S. Chinas stock has been on a tear. Ish of that you think filtering back through sentiment here in the u. S. Not that much. Today came after yesterday. We started off in the morning and fell like a rock in the afternoon. I dont actually think people are paying that much attention to china yet. I think they will be. I think the easy money to be made this year has been on technology, on stayathome, wo
Across the americas. The spread is unacceptable. South korea braces for a second wave. Lenders are backing away. Bank of considering cutting a credit line, writing off its and calling it quits. We are just getting some indications, early indications of the economic rebound in australia. The cva australia pmi manufacturing preliminary number for june bouncing back. Just in contractionary territory but certainly much better than the 44 from the previous reading. The Services Number also much better i we get parts of the Services Economy reopening after the restrictions coming in at 53. 2. The previous reading was 26. 9. That composite number for june, 52 point six. 28. 1 and out of contractionary territory. That is a preliminary reading but things looking a bit more positive. Also looking positive for asian markets, lets get over to Sophie Kamaruddin for a look. Futures are in the green with s p eminis and he restocks resuming gains while the aussie dollar remaining on the on foot at the
Lets break down the data. The ism manufacturing number has come in at 43. 1. That is shy on the consensus, which was 43. 8, but ahead of where we thought things would be at bloomberg economics. The headline number is a bit of ordersaly because of the and the duration of orders component, which messes things up a bit. That number is coming in as expected. The employment numbers picked up as well, and the prices paid number picked up strongly. Lets get a look at what this means for the u. S. Economy. Giving us that assessment is that shes shot is ashish shah. From Goldman Sachs. Lets talk about the data we are getting from the u. S. Economy. We have got the big payroll number coming up friday. My sense is these numbers are getting better, but not consistent with a vshaped recovery at this point. They still look pretty bad and still indicate that while things are improving, the u. S. Economy is still in a tough spot right now. Give us your thoughts. Ashish i think that is exactly right. I
No let up to the s p 500. After all that negative Economic Data, we have the 10 year yield back down to 65 basis points. Crude oil is trying to make a run for 20 a barrel, a whole . 14 lower their. The vix is trading just below 42. Halfway into the trading day. Lets get to Abigail Doolittle for some more detail. Abigail that was certainly a risk off picture. Thatinancial markets on dire Economic Data we have seen today. Subsector picture it gets worse. Look at the s p 500 energy index. Down 6. 3 . This antipathy in sympathy with the volatility for oil. We also have the bank index down sharply for a third day. More bad earnings from citigroup and bank of america. A global macro picture is not great. Auto down, airlines down even with a bailout. One area that is doing better is the faang index. It is doing quite well. A piece of this is tesla. Take a look at tesla over the last 19 sessions. Tesla has actually doubled. Goldman sachs has initiated on tesla with a buy rating, but it is extr