Business on robots in berlin welcome to the program the beijing motor show is finally taking place after an almost 6 month delay because of the coronavirus pandemic its the 1st major Auto Industry fast since the covered 19 outbreak and comes just months after reports a drop in car sales a record drop indeed the manufacturers passers by the economic fallout of lockdowns the event off as an opportunity to showcase their latest innovations as they strive to gain market share in the worlds biggest auto market one of the highlights is the array of socalled new Energy Vehicles thats electrics and hybrids which make up 25 percent of the exhibition this year. Lets speak to aunt ellen cost too much analyst with Investment Advisors bernstein how important was it for the Chinese Government to get this event off the ground this year. Well look i think its a hugely important to show the strength of the economy its back the consumerist back were handling the coronavirus relatively well in china and
Today. We start out of with the fed staying put. Jerome powell signaling the rates will stay near zero through 2023 stocks getting an initial pop, but reverse course as the fed share took questions from the press. Steve, what was it, do you think, that spooked the markets . You know, its always hard to know maybe one of those sell the news things there was a bit of history in the statement where the fed for the first time put in the statement that its new goal is to seek inflation above 2 that was in the longterm policy strategy but it had not yet been in the statement. This is the first statement following that change. It was a bit like there was nothing behind it in the sense that, the question that i asked, i said, well, how come your forecasts dont show you hitting the goal, not even in the fouryear horizon here the fed chair didnt really have a good answer for that you would think if you said, you know, im going to move this tanker faster, you know, youd be pushing the throttle do
S p up 42 at 4 00 oclock on wall street. Getting tough on china, acceptable or the tom cotton is here, introducing a bill to revoke chinas nation status and whether tiktok and oracle will keep your data safe. Ken cuccinelli on actions to block chinese products made with forced labor. Wild fires raging on the west coast as the gulf coast is feeling the power of Hurricane Sally, we have the latest on the deadly threats. One soda company has a new drink that could help you sleep. Mornings with maria is live right now. Maria lets check european markets, rising from may to july, cac quarante is up 20 and dax index in germany higher by almost 40 points right now. In asia markets mostly higher signs of make recovery in china. Up half of 1 in the month of august. Months are released by the communist party as we always like to remind people, shanghai up half percent. Some of the top stories that we are watching this morning. President trump headed to philadelphia this morning after pushing the
Mind lets go ahead and take a look at the state of the Global Economy and whats moving markets today with Todd Horowitz chief strategist at bubba trading and octavio c. E. O. Of optimists l. L. C. Thank you both for being here today octavia i want to start with you here i want to get your take on this Economic Data that we just talked about what do you make of this possible v. Shaped recovery in germany and with the rest of the eurozone facing inflation issues well off the e. C. B. As targets do you see the central bank injecting more stimulus to get things rolling. Well i think the projections coming from germany are new to the optimistic original the germans of being so minus the optimistic typically now their projections are predication quite a few things 1st of all theyre saying were not going to have further lock sounds and which means theres not going to be further outbreaks of covert im not quite sure how theyre able to make those projections i think the balance the risk in many
In the hot seat as the firm faces claims of Racial Discrimination well bring you up to speed on the latest lawsuits plus as the world handles dueling crises of the coronavirus and Global Economic slowdown greece and turkey have opened a new front for concern as tensions are high in the mediterranean with a packed show today so lets dive right in. And we lead the program with positive data out of europes largest economy in the German Government said tuesday their coverage is going better than expected issuing an upward revision of its Economic Forecast for 2020 german economic minister peter all meyer said tuesday the country is dealing with a v. Shaped of development. The recession in the 1st half of the year was less severe than we had and the upturn after the low and the peak of the restrictions has been faster and more dynamic than we had. However it is true that we are over the worst since may we have a significant recovery in the economy and in services in trade and industry we ex