Thats the worst performance in two weeks. The dow has been down. Nasdaq have been down five out of six the tech selloff was worst it continued down 3 led lower by stocks like apple the same old story big volatility coming. Those are really the tail thats been wagging the dog for a while. Youll see the nasdaq is lower once again the other two averages hanging in there the s p on the flat line nasdaq down another 50 points. Fur watching what is happening over the last two months they closed. Dow at the lowest level since the third. The 10year sitting at 0. 66 the story that seems to never end, tiktok. Here we go the owner bytedance applying for an export license in china as it pushes for a deal in oracle and walmart. They did not mention the pending deal and technology it was seeking to support calling the deal dirty and unfair they have no reason to approve it all of this raising questions about that prospect and what that would ultimately look like. What happened earlier in the week we
And german exports mark the biggest increase since 1990. Shares slump after a warning he wont hesitate to add more countries to britains quarantine list. Uber sees revenues fall almost 30 sending shares lower after hours. A warm welcome to street signs. Weve got some macro data. Frances trade balance fell to 7. 96 billion in june down from mays figure comfortably beating expectations in germany, exports are posted their biggest gain rising 14. 9 in june. Strong demand from china spurred a near 9 jump in industrial output chinese exports rose 2 easily beating forecasts. Imports contracted missing estimates of a rise. Officials are reportedly said next week to reach the talks asian markets have traded lower. Main land Chinese Markets taking a hit down 1. 4 amid escalations with washington moving to ban tiktok owner bytedance and we chat owner tencent European Markets have been open about an hour stocks are up 15 basis points. This follows a drop of 0. 7 . Yesterday, the u. S. Session als
We are also getting some breaking news out of china for end of july Foreign Exchange at 3. 1 coming in trillion. It is a touch above that. The markets also focusing on the stimulus in the u. S. That may or may not be coming. President Donald Trumps latest attack on Chinese Companies also stoked tensions with beijing, which is why we are seeing treasuries and dollar actually rising. The president signing an executive order prohibiting u. S. Residents from doing any business with wechat, tiktok, or the owners of these chinese apps. Now, lets get straight to the bloomberg first word news. There has been no headway in talks between the white house and democrats over a new virus relief package. There are still major sticking points and both sides are accusing the other of refusing to compromise. One key difference is the top line number. The democrats want 3. 5 trillion of aid. The republicans want 1 trillion. Another round of monetary stimulus is expected from the bank of england. Policyma
Options. Good morning, everyone, and welcome to bloomberg surveillance. I am Francine Lacqua here in london. Now, there is quite a lot going on in the markets, simply because the stimulus in the u. S. Is getting people quite excited. Part of it is what we are hearing from Central Banks around the world, the projections. This is what the markets are doing overall. Stocks are turning higher. Gold at the same time is ascent, and then we have the word on the latest american stimulus package. We need to mention pound, rising against the euro, after the bank of england said it did not plan to tighten policy until the inflation outlook is more clear. Now lets get to the bloomberg first word news. Here with me in london is laura white. Hi, laura. Laura as fast as they can, but that does not mean safety is being sacrificed. Dr. Anthony fauci he hopes the vaccine is at least 70 effective, but he says he would still feel good if it is at least 50 effective. Classical history of viruses, particula
Nine on the s p 500. The long end of the Treasury Curve outperforming. A flatter curve. The data at 8 30 eastern. Lisa we are looking for jobless claims, as well as continuing claims out of the United States. People are expecting slight improvement in the absolute numbers, but it is not just the numbers. It is the type of job losses, more permanent, less temporary. Didnt get numbers from uber and tripadvisor. I find this interesting after hilton posted a loss this morning. Also this morning, President Trump in ohio speaking about the economy. Interested to hear what he is proposing on infrastructure spending, or looking forward, what can actually stimulate the economy, not just prop it up. Jonathan much more still to come on that. In your equity market this morning, heres the thursday morning price action. Equities lower in the last minutes, off by 0. 3 . Eurodollarrket, 1. 1842. Yields down three on the 10 year to 0. 51 . In the fx market, in emerging record highlar t for the dollar l