Tiktok launches a legal bid to stop President Trump from imposing a ban in america. He says the app is a threat to National Security and tiktok says the bands peer politics. The president marks the official nomination at the Republican National convention by criticizing mailin voting and saying the opponents his opponents want to steal the election. Shery u. S. Futures are opening flat after solid gains for u. S. Stocks in the new york session. Record highs for the s p and the nasdaq. We had optimism over vaccines and treatments for coronavirus. The s p 500 saw most of the sectors in the green. Small cap biotech got big moves from the authorization of convalescent plasma for treating covid19. Vaccine developers tumbled on this new focus on plasma treatment. The dollar weakness we saw earlier in the session did pervak. Did pare back. Look at what oil is doing. It rallied and gasoline surged to a fivemonth high at the moment under pressure headed to the 42 a barrel level. Laurae storms m
This discussion was held by videoconference. Good morning, good afternoon and good evening depending on where you are. Thank you for joining us. Im Vice President of the Global Economy and Development Programs at brookings Global Economy. Disrupting billions of life and jeopardizing progress. The Global Economic process which relates to todays conversation from a five of present and global gdp in 2020. This is the cheapest global recession since world war ii. Its a report defined by fundamental drivers of longterm growth including investment which would slow capital formation. Beyond the headline Economic Growth number, the pandemic is having a proportionate effect lower Income Countries in a way the economy isd dominated most limited ability to adjust to covid related measures such as confinement. Similarly, most vulnerable population in the economy are more exposed. The pandemic is likely to leave a legacy of water inequality between and within countries. Disruptive of the pandemic f
The june edition of the World Bank Global economic prospects which relates this conversation, 5 global contraction on global gdp in 2020. It is the deepest global recession since world war ii, and the biggest collapse in income since 1870. Its informed by an assessment fundamental drivers of a long time growth, which will slow capital formation. The dislocation of trade among others. Beyond the headline Economic Growth number, the pandemic is having a disproportionate effect and lower income countries, the large. Dominated by are the sector with limited ability to adjust for covid related measures like confinement. The most vulnerable population in the economy is more exposed. The pandemic is likely to leave a legacy of even wider inequality between and within countries and less the dimension is integrated. It was refreshing to see the report about covid and inequality. As disruptive as the pandemic has been around the world, there is still great uncertainty as to whether we have seen
Moment of negative Interest Rates as well. As you leave the hour, francine, the United States excuse me by theington transfixed battle between the president and mr. Bolton. It has changed overnight into new legal action by the president. Francine nothing like an injunction to sell a new book. Lets get straight to bloomberg first word news in new york city with ritika gupta. Take a coke china is vowing retaliation for u. S. Ritika china is vowing the government of the u. S. Has set , sanctions for any oppression of uighurs or muslims. John boltons book says the president meanwhile, bolton also wrote that President Trump asked xi jinping to help him we reading help him win reelection. Thevastating betrayal of president s Foreign Policy. President trump called bolton a the book tos asked stopping publish. Economists predict the central bank will expand its Bond Buying Program by 125 billion dollars. Meanwhile, investors will watch for any hint of radical policies such as negative Interest
Let the sun shine in the sun shine in let the sun shine let the sun shine in the sun shine in good wednesday morning welcome to squawk alley. Im Carl Quintanilla with john brennan and post morgan. At this hour the cairline ceos are meeting with the president this hour. We will give you updates as we get them and the rally, pretty impressive here stocks back in the green after the surprise fed cut rate tuesday. Steve milanovich joins us, tech strategist at World Research and the director of global mack affordability. I have been watching your tactical calls over the last week or so theyve been pretty sharp. You said you expected a rally this week. The question is now, what do we do with it yes, the markets remain in sort of a price discovery mode its unknown whether the low that was last friday, interday low at 29. 50 or so or whether its lower these are unknowable things because its a fastmoving development. But i do think friday we got to an oversold point and rally too, 3,100 was fai