Record high after a global meltdown melt up on monday. Futures are pointing lower. The cash trade tray is less than an hour away. Hong kong on notice. Microsoft joins google, facebook, and twitter in pausing government user data requests. Tiktok also pulls out of hong kong. The risk rally pauses. Equity markets and futures trade grow aboutncerns rising coronavirus infections. Bloomberg learns that Deutsche Bank and google are planning a 10 Year Partnership on cloud and tech investment. Computing and tech investment. Just under an hour away from the start of cash equity trading across europe. Futures are down right now. We see losses on ftse futures of 0. 5 . About 0. 6 . Es, futuresxx you choose down about 0. 7 . Yesterday we got germany factory orders, missing the mark. Coming out at a 10 gain compared to a 15 estimate. Now we are getting german 7. 8 . Rial output rising that is the month over month figure. The estimate was for 11. 1 . Dataagain, german economic missing the estimate,
Responsibly. Welcome to surveillance. I am may originated in london. Betterthanexpected jobs data. We have u. S. Stock and bond cash market closed today for labor day. If you are watching in the u. S. , happy labor day. The nasdaq at a record against the s p 500, of course, as well as a record, what blistering momentum we have seen so far this year. It is sustainable is it sustainable . We will discuss that with our guest this hour. In terms of the bloomberg dollar index, a weekly drop in a month. You see a little bit of weakness in oil, but it is heading for a weaker gain. Toois edging higher, not much momentum on this friday, but Global Equities poised to cap their best week in a month at the end of this week. The first wordo news, we have got breaking news, euro area june services pmi coming at 48. 3, so we did get the german pmi coming in better than expected. It is contractionary territory. Europe, betterthanexpected, but still in retraction mary territory. We have also learned th
Nonfarm payrolls surprised to the upside but continuing jobless claims show maybe market weakness persists. However, asian stocks are higher. U. S. Equities of course will not trade on this fourth of july holiday. Today is the third of july but this is the holiday, the bank holiday, as you would say, for tomorrows Independence Day celebration. And case closed. Thean lawmakers end nations illegal standoff with the bank voting to accept that the qe measures taken were proportionate. Western one hour away now from the start of cash equity trading in europe. Lets take a look at how futures are shaping up. We had a mixed picture earlier. Now, we are looking at green arrows for the most part in terms of european futures. Actually, very Little Movement there. And if you look at a broader board, you would see a more andrse picture with cac ibex 35 futures down but also not by very much. Still sort of searching for direction. Lets get the berlin burger the bloomberg first word news. Top stories
Global one day record over the weekend. Expects a deeper contraction in the u. S. As the infection rate stateside rises to 2 , but equities prove immune to the bad news with chinese stocks leading gains. Wall street is playing catchup after fridays Independence Day holiday. Vacuum. The power Commerce Bank looks to fill its top jobs as soon as possible in a bid to end shareholder revolt led by activists investor cerberus. Germangetting right now factory orders up 10. 4 percent. Sounds like a big number, but of course, its from a low base and it misses the survey by a lot. The surveyed factory order, the expectations for factory orders soth over month were 15. 4 we only got 10 point 4 . Much better than the prior month s 26 drop and it looks like german factory orders and a lot of things may be in this coming quarter may have a similar feel as Goldman Sachs cuts its expectations for u. S. Gdp growth in the Third Quarter. Here, you see european futures, big gains. Your stock futures up 2.
And the Asset Classes over there. The british pound is weaker by 1. 5 after a big run up. 1. 35 in change, looking to get everything done by the end of december. We will talk to our next guest about whether that is actually what is going on. Gilts at 77 basis points on the 10 year. The ftse 100 unchanged, but lots going on beneath the surface, including the banks. They are lower today after the bank of england yesterday doubled the capital buffer they on the idearom 1 , that there might even be a rate cut in january. This from Deutsche Bank and potentially others. Obviously come of the scene is not so great for the british banks. Lets get to the latest on boeing. Shares falling today after southwest became the latest airline to say it wont schedule any flights on 737 max jets until april 13 at the earliest. The move comes a day after to haltet a plan production of the 737 max indefinitely. Us with an outperform rating on boeing and a price target of 100 34 per share, did southwest do w