Infection rates low in tokyo but hong kong says the situation is increasingly severe. Jack ma looks to make more headlines. He is aiming for a 200 billion valuation with between listings in hong kong and shanghai. Look at how take a we are setting up when it comes to the asian open. We have a lot of positivity carrying on from that session. Investors are backing that buy the dip trend. The nasdaq hitting the alltime high. The s p hitting positive for the year. S p active futures contracts a little bit lower at the moment but it seems like the positive. Evelopment on vaccines trading sideways if you will. The dollar was broadly weaker in g10 except for the yen. We had Dollar Strength and yen weakness overnight. That is the handle we are looking at ahead of Inflation Numbers out of japan and getting machine tool numbers as well as some Retail Sentiment numbers by way of Department Store sales. Crude and gold were both a little bit lower in the asian start to the session. Some positive de
Reaches a milestone. Good morning, everyone, and welcome to bloomberg surveillance. Im Francine Lacqua in london. We have breaking news the last 20 minutes. China says that the u. S. Has abruptly closed its consulate in houston. That is having an impact on the market. Lets get the markets. Risk sentiment looks a lot shakier after china says the u. S. Abruptly ordered the closure of its consulate. Most european indices have extended declines to session lows. S p futures accelerating their dissent. I did want to show you gold and silver. Lets get straight to the bloomberg first word news. Ispresident donald trump restarting virus briefings. There was a shift in tone with the president urging americans to wear masks and avoid risky behavior. The death toll for the virus in the u. S. Has topped 140,000. Cases are still growing, especially in southern and western states. President trump it will probably, unfortunately, get worse before it gets better, something i dont like saying about thin
Francine, but this is really extraordinary and really, really important. We have consulates in china. Clearly the chinese have said they are going to act rapidly on this. The backstory of this is intellectual property, which is nothing more than the stealing of trade secrets. Ellen not a shema in the Washington Post in recent days writing up the trial in houston phone that holds oil platform in the water. Where there is literally a court case going on about the intellectual Property Value of the foam that holds up big pieces of steel in the water. Just one example around this breaking story. Francine this also comes on the back of what we heard yesterday, right, tom . The u. S. And other countries accusing china of hacking and Getting Research information regarding covid19. Tom no question about that. Let me get a data check. Futures 17. The story is safe haven, and you see it quickly in yield, where the 10year yield has come in. 58 a vengeance,. 59, a handle. The twoyear United Kingdo
600,000. Los angeles is facing a new lockdown. Tokyo and hong kong reporting record numbers. Australia is set to deliver a new budget, may be the biggest blowout since world war ii. Lets take a look at how we are setting up when it comes to markets. Ures this is how it is shaping up when it comes to the future contracts. A Third Straight week of gains when it comes to the s p, managing to withstand the lakesession latesession wound. Slow but steady rotation away from growth in tech. Much more going into value. Futures are up by about 0. 1 . Positivity when it comes to the trading in tokyo, just about 0. 2 higher. Chicago nikkei futures are higher, all eyes on whats going on in brussels with now three days of negotiations in the eu to reach this agreement on the stimulus package and hand out details. We are hearing details, including that the netherlands and austria remain the strongest holdouts in the eu recovery talks. A bit of anxiety playing through when it comes to the eurodollar t
600,000. Los angeles is facing a new lockdown while hong kong and tokyo have new record numbers. Australia set to deliver a new budget that may be the biggest since world war ii. Shery lets get you started with a quick check of the market trading. After upside of. 1 , this another risk on week. The s p 500 ending higher on the friday session, seven out of 11 s p 500 sectors were led higher by utilities. We have the dow losing. 25 and the nasdaq was up. 3 . It was interesting it was the first week of 2018 with a nafta nasdaq was down and the others were up for the week. The thirddown week for the dollar, we will get another week of weakness for the dollar that will be the first time this year , a whole month of weakness in the greenback. Take a look at how oil is doing, Holding Steady at that 40 a barrel level. You have some weak ecodata. U. S. Consumer sentiment posting a decline in july that was factored into the oil markets. Now we are seeing it unchanged at the moment. This is a bus