Warren buffett and Berkshire Hathaway in a big way. And later in the show, a live stream update on the musk and zuckerberg cage match. It is monday, august 7th you are watching Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready for the day. We kick it off with the u. S. Stock futures. Green across the board nasdaq doing the best up. 30 . At this hour, the dow would open up 70 points higher. This is after the poor showing last week with the s p and nasdaq coming off four Straight Days of losses and the worst week since march 10th. You see the nasdaq down 3 s p almost by 2. 5 it was rough for the tech sector the sector coming off three Straight Days of losses. The sharp decline down 1. 5 . Excuse me. 4. 25 . The fitch downgrade is playing a factor it was dragged down by apple which had its worst week since 2023 we had a very busy week for fixed income and new longterm issuance yields here with the 10year treasury at 4. 09 yiel
Daybreak europe our flagship show from here in london. Manus i am manus cranny. Biggest twoday rally on record, bang, turn it around, the biggest draw. Added,ugh the bazookas the pboc. They manipulated the liquidity. Here it is. Overnight, we have dropped by reserves,got the fx which, in on the cusp above 3 trillion. The question for the market is down, are more capital controls to come. The pboc making life difficult. That was the cause of that pain for shorts. This is a deviating it somewhat. We see how close we are to that seven number, six. 9, on the radar before then. Back, weakening, 6. 88 or so, looking towards that 6. 9 level. We did not, they did not have to drop fx reserves below that 3 trillion level to defend, but how long that remains the case. It did drop for six straight months. Manus this is the real momentum. Theresa may making it clear that exiting the eu and regaining control of the borders is a critical point for her. ,re we moving to a hard brexit a break of 122 in
Japan s proposed export curbs on corresponding technologies and products will significantly affect the normal trade between Chinese and Japanese companies, undermining the stability of the global supply chain, a spokesperson of China s Ministry of Commerce (MOFCOM) said on Monday.
A dearth of critical supplies for AI development, exacerbated by Washington’s tech-curtailment moves against China, is seen reflecting the need for a unified and better-funded domestic market.
Large-scale chip testing in orbit is crucial for the space ambitions of China, which believes its biggest competitive pressure no longer comes from Nasa but from private space companies.