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we look at the implications for financial markets. days away, we focus on the financial battle i am monica miller. we begin in china, where markets closed lower, biggest economy for the second quarter. a cause for concern. another worry for market watchers, the direction of us interest rates and the fed meeting that takes place next week comes amid an earning season showing strong results for corporate america. earlier, i spoke to portfolio managerjun bei liu, who told us that she is expecting china s government to step up support for the economy. to be quite frank, over the next six months, we should see increased stimulus out of the chinese government, because china have set a growth target and they will try very hard to get there. clearly the last quarter result was very disappointing and it caused a minor shrink in what was achieved stepped up in the last month or so its support for the cyclical sector such as housing. month of thejune quarter and we do hope that ge ....
good morning, everyone. glad you re with us. i m poppy harlow with phil mattingly in new york. we begin with breaking news overnight, house republicans inching closer to doing something that has not been done in nearly 150 years, impeaching a cabinet member. house committee overnight passed the impeachment resolution against alejandro mayorkas. live on capitol hill with where this goes next. speaker mike johnson says the senate s bipartisan immigration deal is absolutely dead. and today, we could find out exactly how much of donald trump s donor s money went towards donald trump s legal expenses. sources say it s in the tens of millions of dollars. cnn this morning starts right now. we begin with the breaking news overnight, for the first time in 148 years, house republicans are barrelling towards the impeachment of a cabinet secretary. this is what s going to happen, the house of representatives is going to impeach secretary mayorkas and there is absolu ....
sending controversial cluster munitions to ukraine. what that could mean for the war. also today, extreme weather. millions are at risk of record-breaking temperatures and severe storms as well. and then in washington, new fallout from the discovery of a bag of cocaine at the west wing of the white house. what congress is now demanding. and a medical breakthrough, the fda gives full approval for a new alzheimer s drug, but it comes with a serious warning about potentially deadly side effects. we begin this hour, everybody, with another sign, the economy may in fact be cooling. the government reported that employers added just 209,000 jobs last month. below the 240,000 the economists had expected. and the unemployment rate fell slightly to 3.6%. when you break it down by race, black unemployment rose by .4%. and hispanic unemployment rose by .3%. the president reacting to the news in a statement saying in part this, we are seeing stable and steady growth. that s bideno ....
on the technology. so, is all that investment starting to pay off? i spoke to ubs tech equity strategist sundeep gantori a little earlier. if you look at the headline numbers, it suggests that results are mixed. but actually when you look at the actual results and also what companies are telling, there are two factors that matter to us, a, monetisation and b, capital expense. they look at monetisation, for example, across the board, we are seeing revenue and contribution is almost like 5% for some of the companies out there. so that gives us comfort. in terms of graphics, clearly companies are spending on it, but in terms of compute, this is one area where they have been quite bullish recently. long story short, despite the future suggesting, we think the bull case for al, we still think is intact. we think that any excess correction is a buying opportunity. what is the implication of these big tech companies pushing more to monetise their investment into ai? what are ....
if you look at the headline numbers. is suggest that results are mixed. but actually when you look at the actual results and also what companies are telling, there are two factors that matter to us, monetisation and capital expense. they look at monetisation, for example, across the board, we are seeing cloud revenue and contribution is almost like 5% for some of the companies out there. so that gives us comfort. in terms of graphics, clearly companies are spending on it, but in terms of compute, this is one area where they have been quite bullish recently. long story short, despite the future suggesting, we think the bull case for al is still think is intact. we think that any excess correction is a buying opportunity. what is the implication of these big tech companies pushing more to monetise their investment into ai? what are the implications for us as consumers? i think at the end of the day, we think that given how intensive it is, we believe that it is getting bi ....