Written by Econintersect
Early Bird Headlines 02 July 2019
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, published Monday, Wednesday and Friday, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
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Notice: We have changed the form of content coverage for Early Bird. We will provide discussion only for Asia Markets news and a small number (often 1 or 2) other articles. The remainder of the content will be headlines (with links) only.
Key Articles
​Global
- Asia stocks mostly edge up as Australia’s central bank slashes rates to new all-time low (CNBC) Stocks in Asia mostly edged up on Tuesday, as the Reserve Bank of Australia (RBA) slashed its cash rate to a new all-time low. Mainland Chinese stocks were mostly higher on the day. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.759 after rising from levels below 96.6 in the previous session. Brent crude futures added 0.26% to $65.23 per barrel, while U.S. crude futures gained 0.14% to $59.17 per barrel. Spot gold was up 0.4% at $1,389.73 per ounce at 0414 GMT, after falling 1.8% in the previous session, its biggest one-day percentage decline since November 2016. Treasury yields moved lower.
U.S.
- With earnings season looming, 77% of companies issuing pre-announcements say their profit picture will be worse than Wall Street is expecting.
- That’s the second-worst quarter on record going back to 2006, according to FactSet.
- Two tariff-sensitive sectors, tech and health care, have seen the highest amounts of negative announcements.
- CNN Poll: Harris and Warren rise and Biden slides after first Democratic debates (CNN) Sens. Kamala Harris and Elizabeth Warren have made steep gains after the first Democratic presidential debate, a new CNN poll shows, with former Vice President Joe Biden’s lead over the field shrinking to a narrow 5 points. The results indicate a significant tightening in the race for the Democratic nomination.
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Other Important Articles
​Global
- ‘Precipitous’ fall in Antarctic sea ice since 2014 revealed (The Guardian)
OPEC agrees to extend current production cuts by 9 months (CNBC)
China wants to create a tech landscape where the US can no longer hurt it (CNBC)
U.S.
- Harris hops past Biden in early race for Black Caucus support (The Hill)
- Ocasio-Cortez and other Democrats detail ‘horrifying’ conditions at border facility (The Guardian)
- Ocasio-Cortez says ‘humane’ shelters have space following visits to border facilities (The Hill)
- US must spend $4.5bn to prevent more child migrant deaths at border, warns CBP (The Guardian)
- Schumer: Trump’s meeting with North Korean leader ‘one of the worst days’ in American diplomacy (The Hill)
EU
UK
- Angela Smith launches bid to commission report on no-deal Brexit risks (The Guardian)
- Stowaway falls into a south London garden from Kenya Airways plane (CNN)
Iran
- Iran has violated the nuclear deal in a small way. But the implications could be huge (CNN)
- France warns Iran against further breaches of nuclear deal (Reuters)
- EU powers resist calls for Iran sanctions after breach of nuclear deal (The Guardian)
- Iran rejects U.S. accusation it long violated nuclear deal (Reuters)
Afghanistan
India
- Mumbai rain live updates: 12 dead in wall collapse in Malad (The Hindu)
- Officials blame climate change as Mumbai goes under again (The Hindu)
Indonesia
China
- China condemns violent Hong Kong protests as ‘undisguised challenge’ to its rule (Reuters)
China’s second-in-command: We’re building an even playing field for foreign firms (CNBC)
Australia
- RBA cuts interest rates to new low of 1pc amid slowing economy, prompting big four banks to respond (abc.net.au)
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