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
As big as apple and starbucks and shut down a major form of personal communication between the u. S. And china. Doubtsre increasing about an agreement on another round of stimulus. The president now expected to bypass congress with more executive orders. Microsoft leading some of the declines today. Scarlet fu has been following the market action. Talk to us about the trading moves on the back of all this tension rising between the u. S. And china. Scarlet fridays in august are not usually known to be heavy news days, but we had a jobs report today and we had President Trump stepping up his campaign against chinese Tech Companies. The stock market closed mixed with the s p and dow little changed. Between a huge contrast small caps and the nasdaq. Focus really on gold. The relentless rally in gold prices and the selloff in the dollar, the better than expected jobs report reverse that trade. Gold still finishing the week up. The dollar finished up 0. 5 . There is concern that that jobs r
Deaths rise above 700,000. Double if theld pandemic is not stopped. And tiktok continues to make news. Microsoft may now be into its worldwide operations, while facebook continues to push a homegrown u. S. Rival. Shery we are seeing u. S. Futures coming online flat at the moment, after stocks climbed in the regular session. We had some optimism over a potential stimulus package, but investors are cautious. The s p 500 gained for a fifth consecutive session. Communication and tech stocks led the gains. Apple reached a record. We did get a lift for stock markets in the afternoon after President Trump said he could act unilaterally on some stimulus measures. We also have positive initial jobless claims numbers. Lowestll to the since the pandemic began. There will probably be a slowdown given the rise in infections recently. Take a look at how oil is doing, just under the 42 a barrel level. In new york, it fell for the first time in about a week after wavering between gains and losses thro
Companies listed in new york. Tiktok remains a major stumbling block. Uber delivers, but not where we might have expected. Food shipments top ridehailing for the first time as the decade of unchecked growth hits the brakes. Haidi lets kick it off with a check of the markets. U. S. Stocks are surging, pushing higher as hopes of a stimulus to deal in congress will be imminent as President Trump says if nodeal is forthcoming, he could take action himself. The are seeing s p futures looking flat at the moment after the s p 500 pushed its fifth straight positive session overnight. Chicago nikkei futures also pretty flat at the moment ahead of the holidays kicking off next week so as you expect, we are seeing traders shifting their holdings and also assessing a flood of earnings. The aussie dollar holding that threeday again before the rba Quarterly Monetary Policy forecast. That report due out this hour. 72. 33. We heard from phil evans in the previous hour saying he sees putting clear road
China sea. Coronavirus cases are in the u. S. Florida passes new york is the second highest state after california. Gold futures had a record, beating levels last seen in 2011. Sasol are plunges. Lets take a look at how export thesis shaking up when it comes to the start of trading here in asia. This is what we are seeing when we are seeing futures. U. S. Stocks fell for a second day on friday. There is a faltering sense of recovery in the u. S. This is expected to focus on unemployment insurance. Pelosi has called that passage contracted the futures is down by a 10th of 1 . Japanese stocks coming back online. Mildly positive. Sydney futures extending losses down about a half percent. A flat start to the cash trading session. Lets take a look at gold. That is always the been the story. Gold prices are not looking too far behind. General concerns about where the Global Recovery goes from here. Global virus cases have exceeded team. 1 million while there are signs the virus spread is slo