People disappear from westminster and it is quiet. You have been reading about the problems, and that is something on the social scene i suppose, and the controversy over which songs should end the problems, a musical event that happens every year. Of course it is much scaledback. I am preoccupied by the latest comings and goings. Tom we have Economic Data on thursday, jobless claims. What is the trend of the economy that you see . Right now in america aims to be almost a two art economy, very separate. A twopart economy, very separate. Anna we are talking this morning about the kshaped recovery. Going to john olsens great piece this moaning about how tech stocks do well, value stocks, other left behind sectors not doing as well. Even as we look at the u. S. Right now. Also really dominating in the news overnight. Anna a recovery, kitd juckes writing on that as well. An unusual august. For our briefing with first word news, there is ritika gupta. Ritika President Trump and speakers at
Emirates to take this step to become only the third arab state to do this. Effectively it smashes whatever unity was left in the arab world towards israel really is a huge, huge step. Having said that, however, there is no doubt that in one sense this only puts formality to a relationship which p pretty muc existed in any case, although nobody spoke openly about it. I think the key issues probably for the United Arab Emirates were iran, shared concern with israel, and also saudi arabia, of course, on the position of iran. The prospect that doing a deal with israel would open the doors to closer ties with the United States and in particular the supply of weaponry, sophisticated weaponry that it couldnt get its hands on so long as it didnt recognize israel, but also the question of the annexation. This was at the heart, i think, of the decision to go ahead with it. They were concerned, like with saudi arabia, that if annexation went ahead, it wouldnt just be the end of the possible twost
The call they plan to educate the public about the dangers of the fire works. If you would like to register for the call, you can go to abc7news. Com, that call is set for 4 00 this wednesday. Amy hollyfield, abc 7 news. More parts of the country are entering phase two of reopening today, but there are new warnings about an alarming increase in covid cases. At least 11 states set record highs this weekend. Former head of the fda says arizona, texas and florida could see exponential growth this week. More than half of the reported cases in florida on saturday were patients under the age of 35. Anyone who has attended a large gathering is urged to get tested. And the San Jose Sharks are teaming up with the county to open a free testing site. The team mascot will join city officials today to show off the new site right out sap center. It will be open tomorrow through there is a big push for e unty is recommending t regular testing for people who work with the public even if you do not hav
Country two systems framework while ensuring hong kongs longterm stability. Officials in beijing say the plan would allow intelligence agencies from the mainland to set up in the territory if needed, b but many of the specifics remain unclear. The proposal has brought thousands of protesters into the streets of hong kong again after months of relative calm due to the coronavirus. Concerns are spreading that the proposed legislation would undermine the territorys autonomy. On thursday, one of the leaders of the prodemocracy movement called on resints to statand up and fight back. I think now is the time we will continue our International Advocacy and seek for bipartisan support. The plan has also provoked international criticism. On thursday the top diplomats of the u. S. , britain, australia, and canada issued a a joint statement. It says they are extremely concerned that chinas action will worsen deep divisions in hong kong society. We urge china to step b back frfrom the brink andnd
Thats unbelievable. Bob has more on whats driving the action bob. Thank you were seeing some rotation today. Its about time and thats a really good sign for the market. Well see if that holds. These things come and day. The banks have been drooping a bit. Nn energy, first rally really in a month. Tech is sort of inline today thats interesting i want to show you something health care is lagging nap was the Leadership Group this the the rotation im talking about. How about tech tech is up its an interesting form of tech its Old School Tech hewlettpackard is up nice today. Xerox is rallying. Corning is rallying. Thats old school stuff. Hoe about the megacap stocks the big five names theyre up i want to point out, they were very late to the party today those stocks were all flat at the open a lot of people are offsides today. Look at the estimates out there. Theres been some conneequity ad mutual funds that tells you a lot of people are not very optimistic. 2939 that was the old high at te