The bloomberg. Forced to come. Jerome powell said the u. S. Economy is heading into in uncharted territory. Morgan stanley warns the nasdaq 100 could enter a bear market. U. S. Tissue paper Prime Minister Boris Johnson is set to sound the up Prime Minister Boris Johnson is set to sound the rise. After covid19 cases hsbc orders a halt to social media posting after a leaked report linked to the bank to suspect transactions. Shares slide in hong kong for the second day in a row. Just under an hour away from the start of cash equity trading in europe. Take a look at futures after the big, fat drops drops we saw yesterday. The dax fell 4. 3 . The drops were much bigger in europe than they were in the u. S. The u. S. Saw drops between 1 and 2 yesterday. U. S. Futures are still down about 0. 5 . Anna, what do you see on the gmm . Anna lets get to it. We have the reaction we are getting in the european session. What we saw overnight in the u. S. , rather. A bit of selling. It is quite dramatic
Or rather, which is worse than expected. We had expectations of 0. 1 . Rishaad exactly and thats currently where we have industrial production. Coming inese are pretty much bang in line with what we were expecting. The retail sales and only showing this contraction for july. Lets get over to bank of chief chinarities economist. Headlines pretty much what we were expecting, but tell me, what sort of picture is it painting for you . That atlly, i would say first glance, this set of numbers does not look extremely encouraging. For several, industrial output ip we would have thought it would be somewhere around this in belowt still coming 5 implies that the momentum of continued industrial recovery seems to be moderating. I think that is number one that i got out of the data. Number two, if you think at investment, thats roughly in line, but we need to look at the breakdown for example properties versus infrastructure to know what is going on. More importantly, retail sales i think to a la
Hoping to get a recovery after drop that we had since december. A s flip the board and have look at your individual benchmarks as well. Reported, a bit of a surprise when it comes to recovery broadbased as you can see across the markets there as well. And flip things along change things, have a look at your currency markets there, the second one is perhaps one of the measures, if you will, have u to be able to say we properly priced in risk remium on the iran story and has it been priced out. You see the second dollar, not retracing all the way back. Quick ng dollar and a check of your commodity markets, we checked and rude is off about 2. 50 per barrel, the highs yesterday, the 10yearyearold, nothing 8. 811 . Ng there, thats your market story for now. Stable. Are lets take it to new york with su keenan. Begin with former National Security advisor john to on says he is willing testify if subpoenaed during President Trumps impeachment trial in the u. S. Senate. Drama in the h it complic
This is what were saying when it comes to hong kong, up more than 2 at the moment. The bestints or so, rallies of the year when it comes to the hang seng. Large caps also up by close to 2 . The nikkei doing quite well, the only thing really on here that is red is the japanese yen given the risk on session we are seeing. Singapores coming online also, up more than 1. 4 . Asian currencies, were seeing quite a bit of strength, following the offshore renminbi. 689 overnight, we are hovering around 690. This is after we saw the biggest move higher for the currency since april. We will see if the trade optimism it is certainly lifting asia fx. We will see what we are seeing my comes to the overnight session. Aboutenure treasury up one basis point, but we are getting closer to the 10 . Ecb and mario draghi talking about how stimulus measures are on route, that rate cuts are still be key weapons they will be using. We are seeing the bond market continued to head lower. Hit zero foryear the fir
Perhaps some morning sprinkles and perhaps through the afternoon more high and midlevel clouds. Chance of showers not only today, but tomorrow into the labor day holiday. Cooler temperatures in your forecast. Thank you, lisa. Caltrans will give us an update at 8 00 this morning on how work is progressing to open the new bay bridge Tuesday Morning. This is a live look across the span towards oakland from our Yerba Buena Island camera. They said everything is on schedule to open first thing Tuesday Morning. A spokesman even talked about a possibility of opening sooner than 5 00 a. M. Sergio quintana gives as you peak at what its like driving across the new span. Reporter as crews get closer to finishing up their work on the new eastern span of the bay bridge, there are a few people who have had the unique experience of driving over the new span. Chp officer daniel hill is one of those lucky driver. From a personal perspective and from the perspective of a highway patrolman, the driving e