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Wisconsin protests. World Central Bank Leaders coming together virtually, Federal Reserve chair jay powell speaking at key economic conference and investors closely watching what he has to say. Ahead of the speech, few hours are lower. We are taking a look at decline at start of trading. S p and nasdaq hit record highs again yesterday. This morning dow futures down 88 points. Mornings with maria live right now. Global markets this morning are red across the board. Take a look at european indices, the cac quarante down 31 and the dax index lower by 52. In asia overnight markets mostly lower, worst performer was korea down more than 1 . Top stories that we are watching this morning. Night 3 of the Republican National convention honoring americas bravest, devoting their lives defending our freedom. Since 9 11 iv ....
Injection of liquidity from the pboc. House democrats will cut short their summer recess to work on legislation and on shoring up the u. S. Postal service. This after it warned states of mailing ballot delays are ahead of november. And japan suffers its biggest economic slump on record. This comes after a state of emergency and lockdowns hammered Consumer Spending, production, and exports. We have just gone 6 00 a. M. In london. It is 9 00 a. M. In dubai. It is always an inauspicious start when i have the wrong but i from the very start am laser focused on you. What if the bond market started trading like a v . The ratchet in the bond yield what would that do . Are we under assuming that narrative . Fed all come back to the doing more. Good morning. It is alwaysy, monday and things happen with the cameras. I like that you brought up scott minor. Atsees the 10 year yield cap 1 and he says it will go lower to 0. 5 . Is this recor ....
There it is with the gains now approaching for netflix 5 lets get to bob for more on this big market rally. Bob. Its hard to believe but we have retraced 50 of the losses in the s p 500 from those numbers about towards the end of february towards the end of march 23rd that was the lows. We traced 50 of those lows. The biggest ones out there microsoft, apple, amazon, google, facebook this is more than 20 of the s p, these five. Apple shipped 2. 5 million phones into china last month. That was much higher amazon is sitting at a historic high when these five stocks move like this, everything will move everybody is looking for good news today roku suspended their guidance. Thats not good news they also had good number on their earnings and highlighted new account growth the stock is trading up. Thats a path people are looking at suspending guidance reserve building moves could be meaningfully higher in aggregate over the road we took. I think thats a welcome bit of reality about what the f ....
The two handle for wti, the brutal level as the dollar continues to tread lower in the market. Guy . Guy long food, short travel seems to be the trend in europe. Like you in the United States, we are off our lows in your. We did not get the squeeze friday. The stoxx 600 is still down. Every single sector is negative territory. Health care, food and beverage, and basic resources, where we are seeing the least losses. Insurance, travel and leisure, construction are the biggest losses, another big selloff in the btp market in italy and we begin to see volatility pushing ever higher. We are off our lows on the day but european volatility shows no sign of letting up on the outside. Lets get back into one of the big stories weve been covering over the last hour. Proposed,an union has this coming from the European UnionCommis ....
Dow than in any year since 2008. That is not just a week, that is in a whole year. Any year since 2008. That will give you some idea. The tenure yield dropped down. At 117ff of its low waiting for the fed to speak. The vix up to 45. We thought we were high yesterday at 33, we are much higher than that now. Crude Oil Continues to settle. We are just about 45 per barrel. Gold is also selling off today. Down 1. 3 . The stoxx 600, 372 which is down by 4. 5 . Continuing in the german tenyear. I want to show you what the gma looks like. Just to give you an idea of the magnitude of the selling that we have seen around the world over the last few days. This has been since monday morning to now. Greece, 20 . Netherlands, 14 . Yen is up by 3 . Do norwegian is up by 1. 65 . The Australian Dollar is down by 1. 5 . Year, a 45 basis point move this year alone this week alone. It is 100 c ....