Oil saying washington tramples on basic norms, and from mining to the oceans. In a billionaire tells us his waste andt plastic see the future. And the Global Semiconductor market is not in the clear yet. How global trade tensions are impacting microns future, but first, lets get you started with a quick check of how markets close on this thursday session. We had stocks down, treasuries advancing. We started lower in the session, given that whistleblower complaint at the center of the impeachment drama in washington was released and that was not helped by the fact that we heard from a u. S. Official that potentially the u. S. Could not be extending that temporary wally suppliers to two huawei. The dow lost about two points. The nasdaq also down. 6 . The Energy Sector was also the biggest loser, despite the fact that throughout the session, we did see crude gain back some of those earlier losses after we heard that the u. S. Could be military equipment to saudi arabia. U. S. Futures at t
Turmoil in Hong Kong Hits the swiss watchmakers first half sales. Chipmakers gain ground as Dialog Semiconductor raises its guidance and asml forecasts solid growth for the rest of the year good morning top of the hour on street signs. Lets go over some price action weve had over the last 24 hours ending with the wall street moves yesterday. What we saw on wall street is u. S. Equities slipped for the first session in four days the dow ending about 23 points lower. A tenth of a percentage point. A fraction weaker as we get into the heart of the earnings season the drops were bigger for the s p and nasdaq, but still about a third and a fourth of a percentage point the focus has been on earnings season with some of the key banks reporting yesterday. Goldman sachs, jpmorgan, wells fargo looking head we also get bank of america one of the ones you want to watch out for. As we were talking about, the focus is back on trade more commentary out of the u. S. President suggesting that they coul
U. S. China trade war. The yen currently, 107. 85. A little flat at the moment. One of the strongest performers in asia over the past three months. Hong kong dollar also one to watch. 7. 7 a. Much flat. 778. You much flat. Bond yields lower. Yields in asia pretty much tracking the u. S. Indonesia, the philippines attracting investors. When it comes to commodities, lets take a look at where gold is. Wti currently down 1 . I want to show you this chart. All of the twists. We are talking about yields. Chinese bonds, seeing much a search a surge. First time default in june compared to just one back in may. To put that in perspective, we started to see defaults in 2016 and still low compared to developed markets like the u. S. You are looking at india. Big day. The focus could switch to india quite quickly. It is budget day. Modisst after narendra election win. We saw the market move yesterday after we saw that economic survey. We also heard from the government advisor saying they will stic
Climate. Maria thats right. You saw recently in new york city theyre mandating pizza ovens have certain type of carbon emissions, if they dont they have to get rid of them. We have businesses that have been around for generations and now are put out of their place. Were finding that what lot of there was a guy the other day who bought a electric car, he had to undergo 130,000 worth of fees to get maintenance and it was in the shop. Its one of the things that theres so many things that havent been tested to the full extent. I think if youre a consumer, hold off as long as you can because hopefully by the time all of these regulations start to be enforced by the deadline, theyre all gone because we have someone sensible in office. Maria theyre using the securities and Exchange Commission as the agency to mandate certain things to your point in terms of t the Climate Change agenda. As relates to ev, im a free market capitalist. I think evs are the future. I think well probably naturally g
You know, an iphone sold in the us or europe might be designed in california and built in india using Semiconductors Made in taiwan from Raw Materials provided by china. So if any link in that supply chain breaks, it sets up big problems for the rest of the chain. And thats true for smartphones, as it is for pcs, and especially in Battery Production for those Electric Vehicles were buying more and more of. So what if one country decides to make it harderfor others to get hold of some of those critical Raw Materials . Well, thats what china announced just last month. Translation the Chinese Government implements i Export Controls on gallium and germanium related items in accordance with the law to ensure that they are used for legitimate purposes in order to safeguard National Security and better fulfil our international obligations. For quite some time now, the us side has been abusing Export Control measures to continuously strengthen its crackdown on chinas semiconductors and artific