U. K. Sounds a note of optimism. Make my day. Tough words from saudi arabias oil minister. Whoever gambles on this market will be quote ouching like hell. The under an hour away from start of cash Equities Trading in europe. Lets look what we have. Futures not all that convinced in any direction. Weakness in markets yesterday and equity markets, and nasdaq. Ar in u. S. Futures flat and mixed. We do see nasdaq futures heading to the upside. Because ofnificant the selling we have seen. Concerns about concentration and previous gains in the tech sector. We are digesting what we have heard from the fed. In assessments of weaknesses the u. S. Economy. The fiscal boost that will be needed. Lots of questions over the fiscal side of things. Modest gains coming through in asia. Asian stocks of around 0. 4 . The south korean market up a fraction of a percent. Elsewhere, fairly flat markets. Won up to anean eight month high. Dollar weakness part of the story. Keep an eye in oil prices. We mention
Monthly contraction on record as gdp falls more than 20 on april on the countrys first full month of lockdown. A resurgence of cases across the u. S. Fuels fear of a second wave as the imf calculates around the world already spent 10 trillion to fight the pandemic and warns america cannot afford another lockdown we cant shut down the economy again. I think weve learned well create more damage, not just economic damage but there are other areas. Weve talked about this, medical problems and Everything Else the six group seals the deal batching the nearly 3 million take over. Well talk with the ceo at 10 35 cet. Very warm welcome to street signs. Happy friday it has been quite a week for morning ets. We open the day in negative territory extending the losses weve bounced across the flat line into positive territory it has been a volatile choppy session already. The theme is certainly over the last couple of days in the reversal of the cyclical value parts of the market. That trade has bee
Awaiting in a valley a valuation for aramco. Branch toall of business. The u. K. Prime minister is set to office tax cuts when he speaks at the cbi annual conference and we are live at the event. A ban onng court rules facemasks is unconstitutional. The hang seng trades higher. Good morning, everyone. I am live from the cbi annual conference. And interestingly enough, this is the first time great to have you back, this is a percent they have been holding their annual conference in the midst of an election campaign. A lot of Political Uncertainty is hanging over this. The election will take place on december 12. We are used to holding it amidst the uncertainty of brexit. Boris johnson will be here later on perhaps offering and all of branch to business. Talking about property and r d. And in with that comes his deal on brexit. And on the other side, we have sir Jeremy Corbyn from the labour party who will also a here. He will be talking about taxation and adult education. Leaders attend
Carl quintanilla with Morgan Brennan and jon fortt. Interesting monday morning getting news a few moments ago that the president met with jay powell earlier today, tweeted about that got a statement from the fed as well as the market tends to struggle a bit this morning for some direction joining us, michael puree vis, and pete stall good morning, guys good to see you both good morning. News from the fed first and then the white house is interesting. What could they have to talk about . Seems like the macro i think it is interesting you listen to any Earnings Call in the last six months, how many of them are belly aching about cost of capital not hot enough, not low enough there was some belly aching about trade. And Dollar Strength, sure, but the Dollar Strength has been persistent but hasnt been dramatic not a reply of the 2015 and 2016 which threw earnings off it has been a gradual steady rise that allowed ceos to manage more effectively, at least to manage the street better on that
Walk back of Single Player singlepayer, now planning to do it in two stages. And Pete Buttigieg is doing very well in iowa. Down 2. 4 . Guy the dollar has been dropping in relation to these comments we have been getting, both from the fed and from the president. You can see that when you look at what is happening in the cable rates. I am also looking up the bloomberg dollar index. The cable rate now up by around 0. 5 . Some of that has come in the last 10 minutes. With stocks actually reasonably soft in the session, we are moving down toward session lows. Volume is very light. What is interesting is we have not seen much reaction in the bond markets this afternoon. A little bit on the bond market, to much, 34 when it comes the german tenyear. Vonnie the president s meeting with the fed chair, jay powell, the president tweeting out that they discussed Interest Rates and negative interests. Joining us now is bloomberg our gences demeans as Damian Sassower. We hear jay powell specifically