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The elon musks qualifies for a package as teslas average market valley reaches a milestone. The big test comes today as the electric car maker reports. Welcome to daybreak europe. We are seeing a little bit of a mixed picture in the as ingestion, perhaps slightly slower for asia index. We have some breaking news coming through just now. Akzonobel saying covid19 will continue to impact the second half of 2020. It also says that headwinds related to covid19 eased during the quarter, so that is a quarter they are reporting on in terms of the Second Quarter. Saying that results showing a strong focus trying to get through the rest of the line on that headline. Basically in terms of the quarter we are reporting for the Second Quarter, covid19 eased headwinds related to covid19 eased but it will continue to impact the second half of 2020. Akzonobel saying it suspended its 2020 fina ....
Philadelphia Semiconductor Index and the transports were higher. Aboutw transports up 0. 3 . Wellnot a huge selloff but off the highs earlier. That chip rally not enough to keep the nasdaq in the green. Romaine tesla up 4 today. The biggest mover of the day, apache. They found a bunch of oil. Deeperive a little bit into the action with our markets reporters. Abigail apache having its best day in almost 50 years, all the way since they ipo din 1980. This is based on the Oil Discovery off the coast of serena, of suriname. There is a Short Interest of about 7 . Some of this could be a short squeeze. We are seeing an area where investors are becoming a little bit more bullish. Bonds, whenapache it goes wide, it is ensuring the debt. Last year, you can see, going wide by about 200 basis points. Last year, there was the id ....
Are watching. Range charte is the we looked at. He s p 500 unable to get above last years all time highs, we have a set this year stalling again, the r. S. I. Putting in a bearish set of lower highs telling you bullish is simply rolling over. The bears stepping in. 50day the s p 500, the moving average today suggesting we could see the s p 500 drop range, we were just told about an option trade that suggests some traders are 2700, one reason to think that could happen, take a look at this chart of the s p in white and the i. S. M. Manufacturing data in blue over and we see e years that they roughly tracked each other over the last couple of the , the s p 500 rising, Manufacturing Sector expanding above 50, but more recently here course, have two months of contraction for that sector, huge divergence, it could be a bit painful for stock investors, taylor. Abigail, im looking at the stocks index. T was better performing than t ....
Thank you for watching bloomberg surveillance. The stocks europe 600 down a touch. A lot of the focus is on the jay powell. You can see the u. S. 10 year yield at 2. 10. And we are looking at the pound. Boris johnson is the person who will probably become the Prime Minister and keep saying no deal brexit should still be on the table. We seeing Market Movement with the pound extending. You can see cable at 1. 2458. Coming up, we talk commodities with blackrock at 10 30 a. M. London time. But first, lets get straight to bloomberg first word news. China are. And holding the first highlevel talks since a truce was called in the trade war. Top trade officials are speaking on the phone. Larry kudlow says the initial talks were positive. There was headway last winter and spring, then it stopped. Hopefully, we can pick up where we left off. Ambassador lighthizer and secretary mnuchi ....