A slight bid into the back of the bond market. Lots of supply coming on next week. That is front and center, along with the repo market. Time now for global exchange. We bring you todays market moving news from all around the world. From mumbai is bloombergs south brussels, iann wishart. In india, the government unveiled a 20 billion plan to boost growth, including cutting Corporate Taxes to the lowest in asia. Stocks having their best day in india and a decade. We have more from mumbai. Reporter as you mentioned, happy friday for companies. They are a big they are calling it a big bang of sorts. However, bonds obviously felt because they see huge stimulus coming, they dont know where and how the government will fund it. As you mentioned, and yet will be one of the lowest tax regimes , and that could attract a number of Foreign Investors and Foreign Companies as they seek find new venues to set up Manufacturing Companies amid the u. S. And china trade war. I think it has been a very ex
Fierce. About 90 miles east of daytona is where it sits right now after really devastating the bahamas. David i dont think we still understand the extent of it. It is really tragic what happened in the bahamas. Theres a lot of rain and water coming. The storm surge they are worried about up and down the coast. Alix in the markets we are paying attention to the broader political sphere. 8 10 upres up by by 0. 8 . The cable rate up over 1 . Yields in the u. S. Now up by three basis points. Commodities, buy everything but the u. S. Dollar. Time now for the global exchange. Joining us in hong kong is bloombergs chief north asia correspondent stephen engle. From outside westminster is bloombergs anna edwards, and from new york is bloombergs michael mckee. First we want to start with hong kong, where leader carrie lam announced the government will formerly will formally withdraw the extradition bill. M the government will fully withdraw the bill in order to relay consent. Alix can we say the
The worlds biggest Investment Banks, what Goldman Sachs has in stores for some of its top partners it is thursday, august 5th and Worldwide Exchange begins right now. Lets go lets go all right, good morning, good afternoon, good evening, welcome. Im Brian Sullivan thank you for joining us on Worldwide Exchange. Here is the stock of the day the ticker may say work. But something isnt working at least for investors right now. Online messaging firm slack shares, theyre down 12 right now in the after hours market. First Quarterly Report as a Public Company disappoints well dig more into these numbers in a moment. First, to the overall markets, where stock futures are going the opposite way, rising, dow futures up a nice 238 now. This is a report says the u. S. And china are set to resume face to face high level trade negotiations next month with preliminary talks happening as soon as next week. As stock futures go up, bonds go down, a little bit benchmark ten year note yield 1. 51 . We are
since back in 2020 and it s a broad-based sell-off every sector lower right now in the s&p 500 which is down about 4% the hardest hit area of the market consumer discretionary. that sector alone down about 7%. consumer staple is right behind it down about 6% and technology, the growth names, getting hit again, especially the mega caps, which have really been dragged into the selling late in this process but down heavily today talking about apple and amazon, even energy is down again that s been the strongest performer so far this year still up 45% heavy selling today. industrials, materials, communication services what s holding up the best defensive groups, utilities and health care. but even they are lower today. the five worst performers in the s&p 500 right now are almost exclusively in retail offof that target earnings miss which is a big part of the story look at target down 27%. the ripple effect here is large. dollar tree, the dollar stores, the retailers in grocery,
if you take a look at revenue, coming in better than estimated, over $1 billion. looking for a little bit shy of $1 billion. headline numbers, upping their guidance for the first quarter. the estimate was for about 800 aboutmillion for $862.9 million. beating by about $148 million. is down by about 0.1% in premarket. let s take a look at the broader market. on the one hand, you have warnings from jp morgan on risk. citigroup also calling potentially for complacency. s&p futures still grinding their way higher, up 0.4%. we did see another record close yesterday for the s&p. global stocks also shooting higher. euro-dollar unchanged, despite the fact that german factory orders disappointed, raising questions about the recovery in europe. you are seeing selling in the bond market in europe. in the u.s., yield down by about one basis point. crude taking higher as well. maybe we ll get some opec support coming down the pipeline. lots of things happening in the market today. let s