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Responsibly. Welcome to surveillance. I am may originated in london. Betterthanexpected jobs data. We have u. S. Stock and bond cash market closed today for labor day. If you are watching in the u. S. , happy labor day. The nasdaq at a record against the s p 500, of course, as well as a record, what blistering momentum we have seen so far this year. It is sustainable is it sustainable . We will discuss that with our guest this hour. In terms of the bloomberg dollar index, a weekly drop in a month. You see a little bit of weakness in oil, but it is heading for a weaker gain. Toois edging higher, not much momentum on this friday, but Global Equities poised to cap their best week in a month at the end of this week. The first wordo news, we have got breaking news, euro area june services pmi coming at 48. 3, so we did get the german pmi coming in better than expected. It is contractionary territory. Europe, betterthanexpected, but st ....
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Fe ....
Tier levels of candidates include senator Kamala Harris from california. She will look to have one of those breakout night to try to continue her momentum into the top tier. Miami, i can type a lot of folks from other campaigns are talking about bullying castro are talking about julian castro, the former hud secretary who went headtohead on immigration policy with beto orourke. Elizabeth warren laying out her Economic Vision for the Democratic Party and for the country. She attacked not just President Trump but big tech, big business, and big pharma. David i want to come back to you on that subject. First, lets turn to erik on capitol hill. Were all mindful of what is going on the southern border. We have a bill from the house in the senate for emerging for emerg ....
And ibm. The bloomberg dollar index right now down nearly 1 at session lows. On paper, its worst day since march of last year. This after treasury secretary Steve Mnuchin said in davos that a weak dollar helps us, good for u. S. Trade. We see the dollar down on this following a big down your last year. Lets take a look at the fact that was secretary Steve Mnuchin was talking about. The bloomberg dollar index down nearly 1 , its worst year on record. The dollar index, its worst you last year since 2003. The point we want to make here is when we have declines, they come in clubs of twos. A twoyear decline seems pretty fitting even though it is early in the year. Lets take a look at the big movers of the day. Ge down. 2 . This on the news of the sec probe into the company. Recently announced a charged related to the legacy business. Texas instruments down on earnings. Ual, same de ....
Make it easier for exporters to sell overseas or last off, if they fell last month over 8 . Earlier on bloomberg surveillance, we heard from blackrocks chief strategist. At the Market Reaction in the bond market and it is a risk off move. The of Interest Rates leading the rally. It is a testament to concern that chinapicture coming after the export data is making a move on the currency. A lot of ramifications. The initial concern is, what is the saying about global growth. Stephen says he thinks chinas currency will currency wars will get worse. The agreement will give the greeks as much 4 billion in loans. 86 billion and euros. Greece has a payment due to the European Central bank on august 20. Stephanie google wants to become the Berkshire Hathaway of the t ....