Across the americas. The spread is unacceptable. South korea braces for a second wave. Lenders are backing away. Bank of considering cutting a credit line, writing off its and calling it quits. We are just getting some indications, early indications of the economic rebound in australia. The cva australia pmi manufacturing preliminary number for june bouncing back. Just in contractionary territory but certainly much better than the 44 from the previous reading. The Services Number also much better i we get parts of the Services Economy reopening after the restrictions coming in at 53. 2. The previous reading was 26. 9. That composite number for june, 52 point six. 28. 1 and out of contractionary territory. That is a preliminary reading but things looking a bit more positive. Also looking positive for asian markets, lets get over to Sophie Kamaruddin for a look. Futures are in the green with s p eminis and he restocks resuming gains while the aussie dollar remaining on the on foot at the
Lipton with the details. Josh so melissa, apple of course already designs processors for iphones, ipads and watches now it is the macs turn apple has reportedly planned to announce later this month that it is switching from intel chips on its Mac Computers instead, macs will have an arm based chip designed by apple apple stock is on a roll the team at ever core likes what they heard here. They say apples ability to design chips like this inhouse is under appreciated by investors in their opinion as they believe this can help give Gross Margins a boost. The report indicates these new chips are more power efficient with better graphics lighter, thinner macs could be on the way if these machines are attractive, it could help them stand apart from laptop rifvals bottom line, how concerned should intel investors be by all this this wont have a big Financial Impact for the chip giant. By his math, apple is a low single digit customer. But it could have a reputation impact if consumers get mo
Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more money on the table and also protect their own economies . There has been a lot of backandforth. Perhaps a 2 trillion euro package. But all of this is still very much in the
Look, any way you take it, employment in april was a disaster. We are looking at an Unemployment Rate that is likely approaching 20 . We get those numbers, the unemployment numbers for the whole country, next friday. However, got to tell you the backtowork movement is really gathering steam. States across the nation are modifying their stayathome rules. Businesses are reopening. Oklahoma reopens some businesses tomorrow. California will allow some elective surgery. This, however, is receiving mixed messages. President trump says georgia is reopening too soon. He says he strongly disagrees with georgias decision. However, he will still leave it up to the states. Heres a positive. The Field Hospital built specially for virus patients in houston, texas, may be dismantled, not needed, underused. Lets get to the markets. First im dealing with oil. Look at this. Moving back up again in price. 16. 71 is the production price right now, but production is being scaled back very very sharply. Sup
Fullyear guidance. Not having much visibility into the full year. Again, for the first quarter, adjusted eps and revenue higher than anticipated. Quincy,o bring back chief Market Strategist at prudential financial. These earnings, whether it is for intel, other companies. Let me add another. 18. 5quarter revenue of billion. The consensus estimate was for 18. 0 8 billion. An increase from what analysts were looking for. It be a bellwether for the global chip industry when you hear these kind of numbers versus localized situations . We know that the world is becoming less and less global and are trying to secure supply chains inside the country. Quincy i think you have to take semiconductors, chips together. Some of them are for working at home. There are others that have to do with gaming. Also working at home one you take a break. Future, 5g once we pick up. You put them all together and they have become a major bellwether. I started following them in 2018 whenatching the group move it