that's all for this edition of "dateline" i'm natalie morales. thanks for watching. [theme music] welcome to "street signs." these are your headlines european equities ralliied drivn higher after china reports a surge in car sales republicans ask democrats remain divided over a pandemic relief plan, but u.s. treasury secretary steve mnuchin tells cnbc he is confident in president trump's strategy. >> the president is determined to spend what we need to spend

the 3 trillion we've spent plus a trillion dollars more. that's about 20% of gdp. that's absolutely historic, and we're prepared to put more money on the table softbank returns to profit with a 12% rides se investor shares soared towards the top. sales grew by 67% in the second quarter. stock markets here in europe have been trading for about an hour so far, and the direction of trade has been very firm. we've seen a very decent rally play out after initial gains that's now translated to a pop of 1.7% on the benchmark index, a fair amount of green at a stock level sector level and by

industries you can see how the core markets are faring today we did see some early gains in the german stock market, and that is now actually outpaced by italian stocks taking the charge french and german stocks slight underperformance again by the uk's stock market, just 1 3/4 of a percent yesterday. it was curious we saw the german stock market, one of the laggards which is typically not the case, but certainly returning to some very decent numbers today as this rally unfolds here in europe some of it really coming from wall street. we saw the dow out in front versus the likes of the nasdaq broadening out some of the exposures. let's take a look at the sectors. you can see what is doing well in europe in particular. autos, very strong performance we were up 2%, now up more than 3% you can see travel and leisure, oil and gas stronger

some of the weaker areas, utilities and real estate. look at those gains, 1%. weaker performance real estate still up 1%. in terms of this auto number the chinese monthly sales jumped more than 16% in july to more than 2 million cars. china's auto association said sales are still down for the year, and are expected to finish 2020, 10% lower barring another outbreak they're both up roughly more than 3.5%. the best gain is in bmw, the luxury automaker rallying a very sizable 4.4% to the travel leisure space, a lot of appetite for names that have been hard hit this is a k are loo look at som airline stocks in particular that stock is 3.2% higher and rival accor fairly decent, 4

plus percent carnival and the cruise business rallying tui's got gains of 6.4%. chief investor at ravens cold front group. what do you make of this market? it does feel as though it's following in wall street's foot steps. >> absolutely. good morning, karen. yeah, i think what we're seeing here is just a recognition of economic activity is improving the data coming in from pretty much everywhere whether it's u.s., asia, even the u.s is signaling that gradually global economies are recovering as they exit from lockdown that together with huge policy support is lading eading to a r, which is shifting into some of the undervalued cyclical

sectors. >> back over here, the nifty 50, some of the early calls for dow eventually hitting 36,000, which of course didn't transpire, the big faang stocks what do you think we're going to see out of the end result of this pandemic? do we think we'll see some new leadership in the market >> i think that's very likely. i think it's almost certain that the conditions that you would normally expect to have strong leadership are very much in place. we have very accommodative monetary policy with zero negative interest rates and negative yields. we have plentiful liquidity. we have plenty of stories that are capturing the investors' imagination, and we have strong, deep, liquid markets which speculators are able to participate in from a long-term basis, i think we -- the conditions are very much in place for these trends to continue. from our point of view, we have long held the view that areas like technology, health care,

consumer defenses, the emerging consumer in asia, and the faster growing parts of the world are trends that will deliver superior returns for our clients. faster economic activity, solid earnings growth and dividends and therefore those are the areas we like. it just so happens that many of those areas have been strengthened as a story through covid-19 and the likely environment that we're going to see ahead. >> sounds like we could be forming some new acronyms in the future what jumps out this morning, we had some very strong numbers crossing from the likes of hello fresh showing this technology leadership that we're talking about, very strong growth numbers transpiring, but what happens if we change direction on the pandemic? it's been unpredictable all along. we've been debating this morning whether there is a change in direction because of a vaccine down the track how wary should we be talking about entrenched behavioral trends that could swiftly change on a dime down the track

>> well, i think thunderstorm tr that's true. the narrative might change investors are looking long-term here we're looking to a scenario where there's a lot of policy support, a lot of liquidity in the system, we will eventually get a powerful economic recovery, and i think many institutional investors are still on the wait and markets are climbing this wall of worry. so the narrative and the story and the leadership may change, but ultimately, that is a pretty good combination for equity markets further down the road. and of course also it means that at this point in the cycle, markets are more likely to be driven by growth and earnings recovery, liquidity rather than valuatio valuations and although valuations are mixed generally, they are expensive in some of the mega cap tech areas but valuations would well go on to reach very high levels given all the criteria and liquidity and policy support that we see

in place >> you've also flagged up another area of the market that investors like, and this is in the pharmaceutical space you point out to us you think pharma, bio tech, life science companies will be part of the future play book for investors if you think back a couple of years ago, the narrative was we were seeing the sector challenged by price gouging, that they might be up against a political storm. this has quickly changed given all the behaviors we've seen from the sector trying to come up with treatments and vaccines, collaborative efforts working together to be nimble to come up with an answer to covid-19 >> absolutely. this sector really, covid-19 has been a catalyst for change here, and it has shown really how governments are under invested in this space for many years, and so that has changed significantly moving forward this sector also faces a number of other structural tail winds we are the world global population is getting older. we're all living longer. the incidence of chronic

diseases has increased as the world becomes wealthier and particularly middle class grows in areas like asia, that means governments, individuals, everyone investors more in this space. even in developed economies we've seen expenditure in the u.s. double over the past 40 years on health care, and it's yet to catch up with many other developed economies. of course those trends are going to accelerate from here on in. it's a combination of the structural forces that were already in place together with the new post-covid-19 world where everyone is going to be looking to increase and invest further in these areas, and again, where a lot of leadership is going to be led through technology-based solutions >> kevin, it feels as though there's plenty of good news in this market too for the gold bugs have rallied to the 2000 handle we've also saw a weakening in the u.s. dollar, question marks around whether we see any real yield return on the bond side even right here in europe.

what do you make of the investing case in gold even at what seems like lofty levels in this space >> we've been long-term bull on gold for a long time the environment is supportive for precious metals for some time into the future not only do we have the dollar has peaked and will decline obje on the back of massive government spending by the u.s. not just this year but on an ongoing basis. we think the dollar will weaken. equally importantly, we feel that basically we're going to see a very accommodative monetary and fiscal environment at a global level for years to come that will likely lead to further currency devaluations. although the current covid-19 shock is obviously a deflationary shock, ultimately the combination of the policy response together with maybe some supply side changes could lead to a new era of rising inflation, which, again, would

be expected to be positive for gold and generally, i think the macro environment moving forward is very challenging and that's likely to lead to increased volatility pretty much across equities and all asset classes moving forward, and generally gold is perceived as a safe haven in that type of environment. i think for all of those reasons, we think gold is likely to be in demand for some time to come and should form a part of most investors' portfolios. >> looking at an entry point this morning as we slip below that 2,000 handle. thank you very much for the update this morning, chief investment office at ravens croft group. the u.s. market yesterday was a little bit mixed, funnily enough we saw a switch in gains towards the dow and s&p away from the nasdaq that was weaker. but this morning in lock step they look like they'll move into positive territory at the start.

u.s. president trump is under fire for going around congress ordering his own version of coronavirus relief. this as the white house and democrats remain deadlocked over a stimulus package nbc's alice barr is here with the latest. >> reporter: in baker county, florida, today students stepping back into the classroom and into the heart of the controversy over reopening schools. >> i didn't see a lot of mask wearing, and i think that that should have been something that was mandatory. >> with the u.s. now topping 5 million coronavirus cases, a growing number of children are becoming infected. according to the american academy of pediatric us, more than 97,000 kids tested positive in just the last two weeks of july, a 40%increase since the pandemic began medical experts saying it's time for tough choices. >> do we want bars and restaurants or do we want our schools? which ones do we want? it's our choice. i think that's what we're up

against right now. >> reporter: meanwhile, president trump today facing sharp criticism from both parties for going around congress issues four executive orders the orders include $400 weekly enhanced unemployment benefits, down from the $600 democrats have been pushing to reinstate states would have to contribute $100 of that money >> states don't have the money to do that they have expenses from the coronavirus. >> reporter: the president also announcing a payroll tax suspension for people making less than $100,000 a year, though that money, which funds social security and medicare would still be owed next year. president trump pledged he would push to make the cuts permanent if he's reelected in november. critics say the president's orders offer little help to those who need it most and even some republicans are accusing him of overstepping the powers of the executive branch. the president's orders also defer student loan payments and take steps to discourage

evictions. both sides say they want to keep negotiating, but right now, no signs of progress. in washington, alice barr, nbc news. >> speaking of washington, you're looking at live pictures of capitol hill. nbc's scott mcfarland will be joining us later from the capital with the very latest on the political situation. stunning shot coming through to us live. lebanese prime minister has submitted his cabinet's resignation after days of antigovernment protests. demonstrators blamed endemic krum corruption and mismanagement for last week's beirut port explosion that claimed the lives of 220 people and injured thousands while leaving large parts of the capitol in ruins. the prime minister voiced his support for meaningful change. >> translator: now we refer to the judgment of the people, to the demands that those responsible be held to account for this catastrophe that's been

underway for seven years today a desire for real change from a government of corruption and malice, of brokers and theft into a country of rule of law, justice and transparency to a country that respects its people. hong kong newspaper apple daily has vowed to fight on following the arrest of jimmy lai. the pro-democracy paper says it fears more arrests will come >> reporter: hong kong's pro democracy daily, apple daily is coming out defiant with its front page headline today saying it's fighting on this follows the arrest of a pro-democracy activist, jimmy lai the founder of apple daily yesterday under the national security law for alleged collusion with foreign forces. while china's hong kong office has expressed support for his arrest saying he had called on people to fight for the united states and organized a legal

protest while other countries, including the united states and the uk expressed their concerns over the law as well as potential erosion of freedom here in hong kong. another reaction to his arrest was in the stock market. shares of next digital, the parent company of apple daily, soared for another session at one point putting the two days' gains at 1,000 % some link this move with investors expressing their support for apple daily and media freedom in hong kong agnes chow was another high profile arrest in yesterday's sweep. her official facebook page says the police accuses her of inciting succession and colluding with foreign forces by calling on foreign countries to impose sanctions on china on her social media accounts since the enactment of the national security law she was a close associate of

joshua wong another former student pro-democracy activist, they founded a political party now disbanded as the national security law was imposed last month. coming up on the show, softbank returns to profitability in the first quarter, but the japanese conglomerate still faces tough questions over recent investments. more right after the break you say the customers make their own rules.

let's talk data.

only xfinity mobile lets you switch up your wireless data whenever. i accept! 5g, everybody's talking about it. how do i get it? everyone gets 5g with our new data options at no extra cost. -that's good. next item: corner offices for everyone. just have to make more corners in this building. chad. your wireless. your rules. only with xfinity mobile. now that's simple, easy, awesome. switch and save up to $400 a year on your wireless bill. plus, get $400 off when you pre-order the new samsung galaxy note20 ultra 5g.

in earnings news today, hello fresh has seen its second-quarter revenue more than double year on year to 972 million euros. as lockdown restrictions drove up demand for meal kit deliveries the berlin based company has raised its 2020 guidance revenues are expected to grow by as much as 95% on the year the ceo said he's seeing signs that customers are forming new habits around deliveries and home cooking curious to hear whether you've changed your habits. meantime, intercontinental

hotels has reported a $233 million group loss for the first half of the year this after average revenue per room more than halved. the group is not proposing an interim dividend and said it is seeing very early signs of recovery we're going to take you to softbank now there's been a presser that's been unfolding we've been seeing some interesting slides crossing. this is the latest i'm not quite sure what to make of what we're seeing there anyway, the one that really stood out was the company saying that cash is softbank's defense against coronavirus outbreaks offensively, they're in a defensive posture, very kirc different to unicorns flying which is what we were seeing back in may. this was the british business that softbank acquired and folded into its operations now looking at trying to realize some of the sum of its parts the latest says part of all of

arm is one option for them, also bringing forward the ipo is another. now argen has been taking a look at all those numbers including the return to profit for the first quarter with a 12% rise in net income what do you make of the sale of certain parts of the assets, two-thirds of its stake in t-mobile, also what we're seeing in the update in terms of arm? >> yeah, i'll just run through some of the highlights here, karen. of course the return to profit after we saw in the last fiscal year softbank group reported a record loss on much of the botched ipo of wework some of the listings around uber and some of the money softbank lost there. what we are seeing is a return to profit partly because it sold two-thirds of its stake. it's selling down some of the its stake in alibaba as well, so that's been a positive we've seen the rally in tech

stocks filter through. what was interesting in the press conference i've been keeping an eye on as you noted, defensive cash and having cash on hand at the moment, which is as you mentioned very different to talking about unicorns and all these exciting tech companies. i think it's something investors will welcome, no doubt given sometimes the fact that softbank has been very aggressive they've been criticized of paying high valuations for loss making companies as well perhaps a little bit of discipline might be something that the shareholders of softbank may welcome you mentioned ahm as well. softbank's exploring a sale of ahm, and just now confirming that the company is looking at either selling part or all of arm or a second option would be to ipo arm arm was once a publicly listed company until softbank bought it in 2016 for $32 billion, so softbank now saying that the ipo is an option

some of the reports suggesting a time line of 2023. saying that could even be brought guaforward as well. that is an option for softbank lots of news coming out. i think the numbers on the whole overall seems to be a positive given that slight rebound. a lot of questions about the sustainability of this giving it's rested a lot on these gains from the sales of assets and also the recent tech rally as well >> an interesting comment there because i do think it does are provoke a debate as you mentioned cash discipline whether it's welcomed by investors. people not investing in softbank, they're investing in this company for very heavy growth rates >> yeah, absolutely. i think it's more sort of the signal that perhaps, you know, there's being to be a little bit more discipline in the way that softbank's going to go about investing in the vision fund of course, you've got to remember they're looking also to raise that second vision fund as well perhaps this idea of being

slightly more responsible in the way they're going about investing may be something that will be perceived as positive as well, just given, again, some of the issues we saw around wework, many questions about masioshi and a number of other. the listing of lemonade which has seen its shares rally since its ipo as well. there are some sort of positive signs going forward. i think the investment strategy has come under question. it's going to take some more positive moves from some of softbank's portfolio companies to prove to investors that it can continue to invest in a way that's going to bring long-term gain for shareholder. >> thank you very much for that. as we talk about unicorns, second quarter of revenue have soared 27% to 2 billion euros. the german online retailer warm fronted from the shutdown of brick and mortar stores, which

drove new brands the company had already upgraded its four-year outlook. we are seeing very choppy action in the share price it's now up very strongly. early on today it was also trading negative let's get to annette for the interpretation on these results. >> it's a very strong number set, and also, the outlook seems to be quite promising because what has happened to zolando instead of just being a pure play fashion sales point on the internet or seller, i should say, they have moved into being more of a platform and also attracting brands and other customers to sell their goods through their zalando platform they have gained 20% more customers for the first half this year with the revenues up 27% in the second quarter and also the outlook, as i was

saying it sounds quite promising because more and more stationary retail rers trusting zalando to be a good place to be in order to sell their goods. also, on an online platform. in the second quarter of this year, 180 new partners joined their partner program, and they are also now expanding their partner and connected retail program in the second half of this year meaning they're planning on investing and speeding up that expansion well into the second half of this year the only weakness in the numbers, if you want to find one is the margin, which is slightly lower than the margin in the first half of last year, but of course there was considerable weakness also in april, so i guess that's why the margin development is lagging behind a little bit analysts is very much convinced about the shares

two-thirds of them covering. the company are recommending to buy zalando's shares back to you. thank you very much. coming up on the show, ibm cloud sees high revenue during the pandemic as covid pushes more companies to boost their online capabilities we'll be right back to discuss

welcome to "street signs." if you are just joining us, i'm karen cho. european equities rallied driven higher by auto stocks that accelerated after china reports a surge in car sales in july rising over 16%. republicans and democrats remain divided over the pandemic relief plan, but u.s. treasury secretary steve mnuchin tells cnbc he is confident in president trump's strategy >> the president is determined to spend what we need to spend the 3 trillion we've spent, plus a trillion dollars more. that's about 20% of gdp. that's absolutely historic, and we're prepared to put more money on the table >> softbank returns to profit

with a 12% rise in first quarter net income the ceo is expected to face some tough questions from shareholders over a slew of failed tech investments. sales grew by 67% in the second quarter we've got some numbers crossing from prudential in our first half update, and the company says its new dividend policy is aligned with the group strategy focused on their creation through growth this as the numbers cross, it intends to fully separate jackson from the group commencing with a minority ipo plan for the first half of 2021 and for divestment over time, so a strategy to streamline the business, it will fully separate jackson from the group so that is one of the key updates on the separation of

this business, which will, it hopes, allow to focus on the high growth asia and africa markets instead. so the company giving us an asia adjusted operating profit that is up 14% as it posed those numbers today. the company does not currently expect jackson to remit any regular dividends in 2020 or 2021 prior to an ipo so a lot of updates around the strategy from here the group would have listings in both london and hong kong, secondary listings in singapore and the united states. this news around jackson expected to be solely listed in the u.s. the company's clearly focusing a lot of this update today on jackson. it expects to commence the separation by way of a minority ipo targeting the first half of 2021 so lots of news on the time frame today, if market conditions are not supportive of an ipo, the group's current

intention is that the separation would be facilitated through a demerger, so it has a plan a and a plan b by the sounds of it jackson is expected to target an ibc ratio in 425 to 475% range at the point of proposed listing, and the company going on to say that for 2020, the first interim dividend board has approved a dividend of 5.37 cents per share. so a bit of a mix of an update around jackson also an update on what we're seeing in terms of the dividend strategy the life new business profits, that's just hitting the tape now down 45% profit after tax, that is down 54%. so lots of news crossing from the insurance jump this morning. in other news, the uk suffered its steepest quarterly job losses in over a decade

during july ahead of the government unwinding its furlough scheme. employment numbers fell by 220,000 in the second quarter, mainly among the self-employed meanwhile, tax data shows that payrolls in july were down by 730,000 compared to march when the lockdown came into effect. addressing the latest figures, the chancellor said while the government can't save every job it has a plan to support and create new jobs. let's push on to some of the market activity here in europe, a very decent rally has been playing out in the morning session. gains of more than 2% across some of these markets. that's now extended particularly on the italian stock market, the ftse up 2.5% it's put on another quarter of a percent since we last checked, stronger above that 2% mark for the french and german markets getting closer to the range, the and uk stock market 1.94% pop. foreign exchange markets, we are

seeing a little bit of dollar defensive strategy the euro gaining, sterling also climbing gains of about a tenth of a percent a dollar is versus the japanese yen. you're seeing gains there as a bit of safe haven appeal has started to weigh with risk on moves particularly reequity flen that equity market rally the dollar index is now down by about a tenth of a percent plus 93, 43 is what we are witnessing a number of participants suggesting the dollar decline is firmly on that we are seeing that in this trade others maintain that it's just a bit of a wobble from what has been a very long dollar period of time for the last couple of years. u.s. futures, the trading session we are firming up again. you can see on those futures looking decent before the starts of the trading session and right across all the components yesterday the nasdaq showed a bit of a wobble as

investors peeled their attention away from the faangs and invested else where, airline stocks and boeing. to more european earnings, second quarter operating profit came in nearly 75% lower than analysts expected. the largest wind turbine manufacturer said it expected a smaller profit margin than previous efforts the ceo discussed the company's operational challenges due to coronavirus. >> we careerlearned early on wh works and what does. for me to sit here today, i'm just kbrgrateful to see a team colleagues that are sticking to the protocols that keeps us safe under the circumstances. so we treat covid-19 and the protocols there as normal safety rules, and therefore, this is about being able to have the teams working, whether it's in

the sourcing, it's in the factories, it's on site where we keep the turbines manufactured and producing the electricity. so we are really pleased to see that work. so therefore, we actually say here more of the same. >> the first half profit more than doubled to 691 euros. the german utility group further extended the delay in reopening its russian plant, which cost the group 120 million euros to an annual profit to the end of the year another plant has been shut down since a fire back in early 2016. ibm cloud has secured a new multiyear deal with coca-cola european partners. the world's largest bottler of the soft drink based on revenue. joining us now is howard boville, the senior vice

president of ibm cloud clearly a big winner, but it also tells a story about t digitalization taking place out there on the back of the pandemic walk us through some of the details today. >> we're very grateful to be helping coca-cola with that transition, even more into digital channels 300% uplift in terms of the use of those channels for the pandemic we've seen it more broadly for our customers wanting to accelerate with brands such as bank of america and ufg in japan. in all regions is this need. >> a good lot of companies moving in one direction to digitalize their operations. this deal today with coca-cola, they mentioned that one of the catalysts was a 30% tick up in online food ordering how permanent, though, is this change in behavior >>ic it's an acceleration of a change in the market praise that

was already taking place the very sad circumstances of the pandemic have accelerated that we'll see many more customers and companies around the world once it continues to be on this path. >> your previous ceo about the business community was in this transition towards digital, it felt as though despite the news flow very early on in that digital transformation now that we've seen this acceleration in some of the trends, where do you think we are in this journey? >> we're at the end of chapter 1. companies are simply looking to move their applications from their external data centers. kaines a companies are looking at that more expansively at how they can better serve their customers and ensure that they build them upon open hybrid secure clouds. at zbl at the start of the crisis, we were trying to

interpret what the impact would be on cloud revenues, and a lot of the corestuff would remain but anything non-core might suffer a bit of a hit. what would you say about business momentum now as we move through the pandemic versus where we were at the start of the year have you got more companies willing to press the go button >> we're seeing any concerns now starting to melt away, particularly with the quality of the offering around our security areas. and that's been evidenced by the quarterly earnings we anounounc last week. help customers on their journey to an open hybrid cloud, which is a more secure in the industry for the enterprise. >> we've all had to become virus experts, watching infection rates and what we have witnessed a big spike in the united states, some problems in europe with the travel season upon us do you have any concerns that the momentum you're witnessing in the business will be impacted

by a second wave of infections or a spike come september or october this year? >> i think it just continues the actual path that customers are on to accelerate their digital transformation >> in terms of what we're seeing from the big companies, you mentioned some of those very big names to us that have been inking deals i think one of the concerns is that very big businesses with fairly deep pockets and access to capital markets have the ability to bring about fairly significant change where does it leave small and medium cap companies at the risk of losing out as you ski some of these bigger players capitalize on these trends? >> ibm has always been in a position where it can help customers on the journey, not in terms of the actual technologies but also how we look to manage their balance sheet. in the case of the coca-cola transaction, we're only improving the quality of their digital channels but also

helping reduce their operational spi expense expenses. >> the extent of the network, and it's fairly sprawling, 60 cloud data centers across 19 companies, 18 availability zones. that suggests an incredibly complex network. prar talk us through some of the security challenges now as we see more remote working or more information shifting to the cloud? >> yeah, security's always a primary concern that customers have you have to look at that from threat vectors in terms of where bad situations can arise the capabilities we provide cover all of those and our cyber security practice, which is one of the strongest in the world. in addition to, that the key elements is the architecture you put in place, and we're very sensitive to the needs of our customers' data and very sensitive that it's their data and not ours that's evidenced by things such as keep your own encryption keys where the customer has the keys

to encrypt the data, we don't. the only person that can get access to their data is themselves we simply manage the bits and bytes. >> thank you very much for joining us much appreciated thank you for giving us a window to what's taking place behind the scenes there we have some crosses now from russia this morning and this from vladimir putin the latest is that russia's health ministry has given regulatory approval for the world's first covid-19 vaccine that has been developed by moscow's institute after less than two months of human testing. this according to the president vladimir putin, the move does pave the way for mass inoculation even at the final stages of clinical trials to test safety and efficacy, those continue and effectively the company is saying the speed at which russia is moving to role

out the vaccine highlights the determination to win the global race for an effective product. there have been some concerns about what this means globally putin says his daughter was vaccinated from coronavirus, so that is very much putting some skin in the game if we can talk about it that way. but russia very much moving towards this mass production of the coronavirus vaccine, and we will continue to watch the updates from russia and see how successful they are in their endeavors and i think we all wish them well we're hoping there might be a way forward for the rest of us as well. the latest update from russia. coming up on the show, money on the table, u.s. treasury secretary steve mnuchin says the white house is willing to spend what is needed in the hope of breaking the stimulus bill deadlock you say the customers make their own rules.

let's talk data. only xfinity mobile lets you switch up your wireless data whenever. i accept! 5g, everybody's talking about it.

how do i get it? everyone gets 5g with our new data options at no extra cost. -that's good. next item: corner offices for everyone. just have to make more corners in this building. chad. your wireless. your rules. only with xfinity mobile. now that's simple, easy, awesome. switch and save up to $400 a year on your wireless bill. plus, get $400 off when you pre-order the new samsung galaxy note20 ultra 5g. global coronavirus cases have topped 20 million as the pandemic continues to accelerate around the world the three most affected countries, united states, brazil, and india account for

more than half of the reported infections the white house is considering a measure to ban u.s. citizens and permanent residents from returning to america if they are suspected to have coronavirus. the draft regulation would give the government authorization to block anybody entering the u.s. if it reasonably believes they might be infected. the fed has unveiled requirements for america's largest banks for the first time ever that follows stress test early this year. goldman sachs and morgan stanley will be required to hold their biggest capital buffers. the fed rejected an appeal by goldman to reconsider the proposal. robin hood has reported more monthly trades than all other publicly traded stockbrokers the trading app a 4 million daily average revenue trades last month, which is higher than e-trade and charles schwab combined the startup has added more than

3 million customers since the beginning of the year, but it also faced multiple outage days in early march as well as pressure to update its trading restrictions. the treasury secretary steve mnuchin says chinese firms which do not meet u.s. accounting standards face delisting from american stock exchanges from the end of next year >> steven mnuchin has said as of the end of next year chinese companies that don't comply with u.s. accounting standards will be delisted from u.s. stock exchanges. now, this comes after u.s. president donald trump called for recommendations to protect u.s. investors from what he says is china's failure to allow audits of u.s. listed chinese companies. so these are now the recommendations that treasury secretary mnuchin and other u.s. officials have put forward in order to ensure that chinese companies do follow the same standards and regulations as american ones do, and of course it comes amid mounting pressure

as well from congress to crack down on chinese companies. of course back in may, we saw the u.s. senate back a bill that could prevent some chinese firms from listing their shares in the u.s. if they don't play by the american rule book now, these latest recommendations did actually prompt the chinese securities regulator over the weekend to to call for dialogue between the two sides and has recently sent proposals on joint inspections with its u.s. counter part but of course this prospect of potential delistings have certainly seen this resurgence or prompted this resurgence of chinese companies heading home to list. and responding to this today, tencent music which makes streaming services for the chinese market said it's premature to speculate over delisting adding it's not the only option for companies. this does come as china's

reforming its capital markets. high-tech strength and throwing its support behind home grown companies in the face of a lot of this u.s. pressure, and it also comes interestingly as china is also looking to crack down on misconduct in the markets, not just at home, but abroad as well including setting up a framework that keeps an eye on overseas listed chinese firms. in sydney, i. steve mnuchin says white house officials are open to resuming talks with congressional democrats as they look to break an impasse over a massive new stimulus package mnuchin did not say when the negotiations would restart, but claimed the trump administration was willing to green light more fiscal health for the economy. >> the president is determined to spend what we need to spend the 3 trillion we've spent, plus a trillion dollars more. that's about 20% of gdp.

that's absolutely historic, and we're prepared to put more money on the table >> senate minority leader chuck schumer also said he would be willing to resume talks urging the white house to make compromises to help reach a deal. >> the only way to crush the virus and truly protect american working families is to pass a comprehensive bill in congress that is equal to the challenges facing our country democrats remain ready to return to the table we need our republicans to join us there and meet us halfway and work together to deliver made relief to the american people. the president, his aides, his party in congress are not even awake to what's happening in this country that is the reason why senate republicans delayed for four long months a, and that is the reason we've been unable to find agreement with the white house

>> nbc colleague scott macfarlane joins us live from washington, d.c. what we're hearing in those soundbites, everybody's willing to talk, so where's the deal >> reporter: well, it seems clear to me they're not negotiating a covid-19 relief package. they're fwoernegotiating when aw to start negotiating again the president spoke to the reporters about the executive orders he's taking in the meantime including the one that would provide a new $400 a week unemployment benefit that'd be partly paid for by the states and it's unclear if the states that are budget strapped have the money to make that happen or if the president has the power to make that happen. he also spoke about his payroll tax executive order, which would postpone the payments of that tax for some workers who earn less than $100,000 the president specified that would go until the end of the year, but again, his critics are questioning if he has the constitutional authority, and they're questioning whether that would strip money, starve money

from social security and medicare as this was happening, schools in the u.s. throughout the company grappling with whether to reopen their buildings, a suburban washington, d.c. school district announced it's not going to reopen. it's going to go virtual the president said kids receive only minor impacts of covid-19, and he repeated his claim that schools must reopen. back to you. >> scott, thank you very much for the update scott mcfarlane from nbc news. let me take you to the market, might see a record day on wall street we had record levels on s&p 500 futures now, and you can see open 21 point. so far the market's been off the record high, but 25 odd points roughly from when we closed up shop yesterday the market to close a gap of roughly about 1% to get to that all-time record level. certainly was momentum away from technology stocks yesterday,

broader leadership from some of the big names in transport stocks, particularly the airlines ask acrond across to b stock as well. investors were picking up some of these assets as they play some of the recovery story microsoft, investors weighing how difficult it might be to try ask cut a deal to take over those u.s. operations of tiktok. so investors thought they may play the catch up trade. that's what we're watching today to see whether we get a record intraday level or record close on that s&p 500 index. thank you very much for joining us today on "street signs. coming away on colleagues stateside on "worldwide exchange." u colleagues stateside on "worldwide exchange." r colleagues stateside on "worldwide exchange." hike!

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it is 5:00 a.m. at cnbc. markets can't stop, maybe won't stop keeping the gains going and looking for it the hard way. even as in washington stimulus talks remaining at a standstill, the president mulling going it alone to try to help the economy. china firing the latest shot aimed at continued tensions with the united states. this time at the lucrative semiconductor industry live in beijing with more. uber and lyft suffering a big legal blow as a judge orders the companies toec