Bubbles cannot mix unless at work. Tom im speechless. I was just talking to jon ferro, just getting up at the crack of 9 00 a. M. In london, about the uniqueness of it. There are two separate parallel worlds and the United States, where europe and the pandemic is off the radar. Clearly in europe it is unraveling. Francine it is. We are all dealing with the same virus, having the same effect on people, but if you look at germany come it is different on how they decide to do with it, compared to macron, with tighter measures. Now lets get to the bloomberg first word news with ritika gupta. Ritika the chances of Congress Passing a preelection stimulus are all but gone. Treasury secretary Steven Mnuchin is blaming politics. He says democrats dont want to give President Trump something to brag about in his campaign. Democrats say the white house never took the need for another stimulus seriously enough to push for a compromise. Senate democrats are all but powerless to keep Amy Coney Barret
Politics is taking over the trend. Im fascinated by the challenges to the leadership and belarus. Francine i am, too. Something the started last week that seems to be growing. We will followup on belarus and russias support to the leader. Lets get first word news with ritika gupta. Ritika nancy pelosi has called the house back from vacation to do with the Postal Service crisis this week. Warned 46 service has states that it may not be able to deliver their ballot on time for the election. Polls indicate joe biden maintains a solid lead over President Trump going into this weeks Democratic Convention. Biden was up nine points in the wall streets journal poll. In japan, the economy shrank in the Second Quarter by the most on record. Gdp declined at an annual rate of 27. 8 . There worlds thirdlargest economy was already hurting when the coronavirus outbreak hit. Japan had already slipped into a recession. In belarus, it was the biggest antigovernment protest yet. Tens of thousands demonst
Markets. It has been a wild ride this week. There was rotation on the back of positive news when it came to trade and then we saw stocks retrenching. A lot of the focus is on u. S. Tariffs in europe. Jeanclaude juncker says that is not so. A lot of focus on data out of germany. You can see the u. S. 10 year yield at 1. 91. Coming up, the intesa sao paulo chief executive joins us for an exclusive interview in a couple of minutes. We focus on earnings and the Banking Sector. First, lets get first word news. The u. S. And china agreed tariff rollbacks will be a key part of any agreement, the big question, is a deal any closer to being done . Donald trumps advisors dont sound certain. Yet to be decided, the time and place for signing this potential packed. Donald trump wanted ukraine to investigate joe biden, that was the message and it was clear according to one official. He says the words being pushed by the administration our investigation, biden, and clinton. Special visashere for doct
Abigail the s p 500 clearly outperforming, up 23 , on pace for its best year since 2013. The Energy Sector is a positive at this point this year but up 6 . Looking at beatendown sectors to get some ketchup potential. Energy is one of them. Some traders are going that way on the day. Renita im taking a look at marble technologies, which is rising to its highest since august, upgraded to outperform from market perform at wells fargo. Gary mobley says he has seen a we exhibition in the Data Center Capital expenditures. To put it in perspective, the stock is up more than 65 so far this year. He says marble is seeing robust demand for components from 5g base stations to nokia and samsung. That the company can generate 600 million in 5g customers. Its they also expect to see this demand for 2019 and 2020. Taylor i am looking at shares of uber. Set theing enough, lyft bar pretty high last week after they had pretty tough top and bottom lines. The pressure is on now really uber as they look to
Than expected. That means we have a bit of a risk off move. We had moves from the central bank of new zealand, and overall, new zealand stocks are gaining. There is quite a lot of movement when it comes to commodities and we will have a full roundup of centralbank action and its impact on stocks and commodities. Coming up, we speak to the commerzbank chief Financial Officer. Dont miss that interview live later on bloomberg surveillance. Lets get straight to bloomberg first word news in new york city. Chinas currency policy is staying at the forefront of the trade war. Referenceet todays rate at marginally stronger than seven a dollar. Avowing to keep the Exchange Rate is vowing to keep the Exchange Rate study. Westminster and brussels blame the other for the diplomatic breakdown. Michael gove is in charge of planning for a no deal and says the eu is not bracing for a new agreement. The Prime Minister has made it clear he will not sign a deal that includes the irish backstop from a red