Happy monday. This is bloomberg surveillance. Khan Francine Lacqua in london. Lets get to your markets. Investors, trying to win a number of infections rising with all of the extra stimulus being put out. If you look at what the market is focusing on, stocks are falling, gold is nearing highs on concerns about the virus, treasuries on the dollar hovering below 40 a barrel in new york. Market checks through the day. Lets get to the first word news in london. Here is dani burger. Disappointing crowds for Donald Trumps First Campaign rally since the virus outbreak. The event in downtown tulsa attracted far fewer supporters in the white house had touted. It was overshadowed by continuing criticism of the president s response to the pandemic and his reaction to protests against police brutality. You are warriors. Thank you. We had some very bad people outside. [cheers] we had some very bad people outside. They were doing bad things. I stand before you today to declare the silent majority is
He accuses the social media giant of stifling free speech. Welcome to bloomberg surveillance, everyone. I am Francine Lacqua in london. The markets are trying to guess how much tension there is between the u. S. And china and how that will halt the economy. This is what is playing out in the markets. The stoxx 600 gaining some 0. 3 . Crude oil before 34 per barrel. 71599. I the u. S. Considering a range of sanctions to punish china for its crackdown on hong kong. The Trump Administration weighs whether to declare that the former colony has lost its autonomy from beijing. President trump says he will announce action against china before the end of the week. Meanwhile, protesters in hong kong cured up for what there could be their biggest day of unrest in months against chinas increasing control of the city. Lets get straight to our chief asia economics correspondent. This has certainly ratcheted up quite a lot in the coming days. How big are the protests right now . We have had hundreds
Afternoon if you are watching from asia. Im Francine Lacqua in london. Ato era july manufacturing 46. 5, a touch above expectations. Watch,llar is one to also the u. S. 10 year yield. The markets broiled from what we heard jay powell say. Said they peace time rate cut has had an impact on the dollar extending. European stocks up. Pound is the one we have been watching for. 2110, this depends on whether goes for a hard brexit. Oil, 57. 8. We have an exclusive conversation with an exclusive executive and joining us later, the global head of research for blackrock. Before we get to all that, lets get to the first word news in new york city. Quarterpoint cut from the benchmark rate by the fed. That says it will stop drinking the Balance Sheet in august shrinking the Balance Sheet in august. This move dashes hope for a move. Er dovish it is intended to ensure against Downside Risk from week Global Growth and policy uncertainty. To promote a faster return of inflation to symmetric 2 objectiv
Surveillance. I am Francine Lacqua in london. Getting some breaking news out of the euro area. February services pmi falling to a level below what economists had forecast, 56. 7, instead of 50 7. 6. Manufacturing falling below 58. 5. Sts, at i do not think this will impact the eurodollar, 1. 2316. After the trading session that we had on yields and the huge bond auction that actually went according to plan you can see the twoyear yield over in the u. S. Practically unchanged at 2. 25 . Then we did see a reversal on european stocks. They were gaining on the back of asian equities and now they are actually down 0. 4 . Coming up on bloomberg surveillance, emerging markets and trade. Then we also talked canada and of course, more market movements ish blackrock and it budget day. We will bring you with the countrys finance minister, gigaba. Lets get straight to the bloomberg first word news. Under moreesa may is pressure with 62 lawmakers from her own party demanding a quick, clean break fr
This is bloomberg surveillance and im Francine Lacqua in london. We are just getting some breaking news from the oil markets. Its 2017 lifting growth demand estimate to the strongest in two years. This is significant because we heard, i guess from insiders that opec, along with its allies, are also said to be discussing expanding cuts by more than three months. What does that mean for oil . The iaea says the strongest Global Oil Demand growth in two years. Brent, 54. 32. We will be speaking, right here on surveillance. In the meantime, it is time for you data check. We saw gains over the last couple days. These stocks are definitely rallying. Treasury yields are declining. The dollar snapping a two day advance. I will show you crude and the pounds, ahead of the u. K. Jobs data at 9 30. Reporter apple has unveiled its 1000 iphone, which features of rented reality and facial Recognition Technology. The company also rolled out an updated apple watch and tv box. The product announcements w