nifty 50, to mention it, but i actually have a recollection of the nifty 50.'re still getting over the shock in america of salesforce.com joining the dow. tech is taking over. we have been taught -- calling it your digital dominance. is that what you see, digital dominance? >> i think these phrases are unhelpful. if you dig in deeply, what if you got? technology that is changing a number of industries, whether it is health care or shopping, delivery businesses like amazon, and they're becoming much more effective and efficient businesses. in some cases, they have monopoly-like profits. those are swept together. it is not so much the advances in at the hardware so much as people changing business models. i think it will really and drive economic growth. anna: maybe all companies in the end are migrating toward becoming tech companies. it is fascinating to see how tech disrupts another and another and even in places where you did not think it was possible. >> i think what grocery that is the growth of intangible value. thatthink what goes with is the growth of i

nifty down 95 points. we are watching some of these banks as well. the nifty bank index down 1.5%. a pretty broad selloff today. this is bloomberg. ♪ haslinda: onto the philippines or the bank central is likely to keep policy rates steady. the nation is easing lucked out rules in the capital as the government tries to balance supporting the economy while curtailing the spikes in coronavirus cases. our reporter is in manila. the bank likely to hold. yes. the central bank is likely to -- [indiscernible] the philippines has been one of the most aggressive rate cutters in asia. points rate of 175 basis this year. watching --ysts are what are the tools that can be used to help the economy? pump liquidity into the financial system through buying a government fund in the secondary market. yvonne: he signaled perhaps rate cuts -- perhaps there is no need for them in the near term. what does this mean for the growth prospects in the philippines? the growth prospect of the -- that is how a lot of analysts describe it. the philippines started into the session last quarter after containment me

it's a slide if incredibly one had put $10,000 into its ipo, a whopping 1.2 million that's nifty and then to put that in comparison, look here if one had put 10,000 since tesla's ipo in other marquis names. netflix would turn it at 10,000. almost a 3-bagger. amazon, 180, apple, 130. not bad. 10,000 to 130, but notice la in any event, the thinking here is it's a bit hot. dormancy, sideways. >> amazing first off, 10 grand into 1.2 something million, unbelievable. you think maybe the stock will be the same way. mike cho, what's the code now on tesla. >> it's interesting the setup because if you take a look at how options are currently priced, they're not expecting a dorm management period to put things in perspective, it's about 80% if we think about it, that means the options market sim plying the stock could be higher or lower by about 20% in a month, a little over 30% in a quarter and somewhere in the neighborhood of over a 12-month period that it could swing 50%, 60% or so the options market is expecting big moves while the tech jipt might be suggesting this run is over one of the t

that's nifty just to put that in comparison, the final slide, look here if one had put 10,000 since tesla's ipo in other marquee names netflix would have returned your 10,000 you'd be at 293. amazon you'd have 280,000. and apple 130. not bad 10,000 to 130, but no tesla. in any event, the thinking here is it's a bit hot, dormancy, sideways >> amazing first off, 10 grand into 1.2 something million. unbelievable your dormant chart made me think about charge time versus run time maybe the stock will be the same way. mike khouw, what's the trade now on tesla >> it's interesting the technical setup carter is talking about. if you take a look at how options are currently priced, they're not expecting a really dominant period. the implied voluatility on tesla in the options market is about 80%. that means the options market is implying the stock could be higher or lower by 20% in a month. somewhere in the neighborhood of a 12-month period that it could swing 50-60% or so the options market is expecting some pretty big moves after all of this while the technical setup might be suggesting some of thi

. >> this is a nifty piece of campaign. it's for claire booth. her reelection campaign. and it's quite handy. use this column when voting for claire booth luce and make sure you're pulling the levers to reelect claire booth. >> she would have been the republican counterpart of helen douglas. she was one who was well known to the general public. her career really had started as a writer and editor. she was the managing editor for vanity fair magazine in the 1930s. she eventually later in the 1930s married henry luce, the founder of "time" and "life" and fortune magazines. she had a prominent background before she came to congress. she was elected to two terms in the 1940s. she originally had been a supporter of the new deal and she turned against fdr's domestic policies. by the time she comes to congress, she's one of the more eloquent spokes people in terms of criticisms of fdr's wartime management. she's not an isolationist. she also is a woman who supports the equal rights amendment and enhanced role for women in the military services and outside the home. so she's som

you go well belarus says exiled opposition leader has given her 1st media conference since from 2 nifty renia set to kind of skype use the opportunity to tell foreign countries to respect the software and to your fellow earlier she addressed her fellow citizens in a new video message urging them to keep up the pressure on president bush and co with more workplace strikes. as of us talk at absolute strikes are entirely legal and powerful weapon against the regime and they know it that's why they intimidate you leave the fear mongering to the dictatorship remember you are not alone i'm asking you to keep on striking who will make the coward hear our voices the voices he has stolen from us well with both the e.u. and russia being locked to mediators in the bell russian crisis we asked people in minsk who they'd like to see play that role. as for me i prefer russia because i'm a bit skeptical about the e.u. i would rather stay with russia but at the same time i want belorussians to be belorussians but then of course despite having russian and bell russian roots i feel closer to the e.u. her

okay back then avon was a nifty 60. 55 times earnings., 48 times earnings ibm, 37 times earnings polaroid, 90 times earnings. revlon's 30 times, sear roebuck, 31 xerox 41 okay we don't have -- back then by the way, in 1972, the government was 6.5% today ten year government 70 basis points while expensive, not outlandishly expensive and pick your poison. i have a few there and what we have to understand in the nifty 50 of today, a certain failure rate as there was. polaroid no longer with us avon didn't turn out to be what people thought it was. ibm didn't turn out what we thought. sears gone, kmart gone xerox taken over by the japanese same thing now identify nifty 50 of today and a certain percentage will not perform. they'll be disappointing you take the loss against the ones that work and expect return from that portfolio which wasn't particularly impressive. the robin hood market, i touched on it before i won't repeat it, a nuts market you know apparently from my read 13 million 30-year-olds that are trading the market and have to say

that is a >> this is a nifty piece of campaign ephemera. it is for clare booth luce, her reelection campaign. it is quite handy. it tells you what to do. "use this column when voting for clare booth luce." it has a little arrow, and how to make sure that you are pulling the levers. >> and clare boothe luce would've been the republican counterpart of helen douglas. her career had started as a writer and editor. she was a managing editor for theity fair" magazine in 1930's. she later in the 1980's, married henry luce, the founder of "time" and "life" and "fortune." she had a prominent background before she came to congress. elected to two terms in the 1940's. she was originally a supporter of the new deal and then turned against fdr's domestic policies. by the time she comes to congress, she is one of the more eloquent spokespeople in terms of criticism of fdr's wartime management. she is not an isolationist. she is an internationalist. she also is a woman who supports the equal rights amendment and an enhanced role for women in the military

. >> this is a nifty pace piece of of campaign if amara. it's for clear booth loose, reelection campaign and it's quite handy. it even tells you what to do. use this column when voting for clare booth loose. how you go into the voting booth, make sure you're pulling the leather lovers to reelect her. >> clare booth loose would've been the republican counterpart of douglas. she was someone who was well known to the public, her career really had started as a writer and editor. she was a managing editor for vanity fair magazine and the 1930s and she had eventually later in the 1930s married henry loose, the founder of time and life and fortune magazines. so she had a very prominent background when she came to congress. she was elected to two terms in the 1940s. she originally had been a supporter of the new deal and then she turned against fdr is domestic policies but by the time to come to congress, she is really one of the more eloquent spokespeople in terms of criticisms of fdr's wartime management. she's not and isolation as, she's an inte

the index, the sensex up 0.8%, the nifty is up, most sectors are up.see also raising money through a qip, the same thing for ici bank which had a similar offering. i think you have something on india's biggest airline, haslinda. haslinda: indigo is planning to raise more than $530 million i selling new shares after the pandemic halted air travel and cash flow. let's get details from our reporter. echo --sperate for cash for cash? >> indeed. indigo last month said it is burning through 300 million rupees of cash every day despite drastically reducing flights, cutting jobs and slashing salaries. that led indigo to decide to to 400stimated returns billion rupees and raise a $500 million after the pandemic halted things. what other options, what is on the table also for indigo? >> good question. indigo is raising 20 billion rupees by selling unencumbered assets in an addition to a previous plan to raise money through renegotiating contract terms with suppliers. indigo had over 700 billion rupees and 109.2 billion rupees as of june. it was looking really gr

looking at the nifty, looking like a flat picture in mumbai.ingapore, they contract traded in singapore. looking at the vodafone idea. petroleum, and a host of others are said to report their first quarter results later today. biting at the rupee, a stronger. that's in the face of dollar weakness more than anything else. rish, let's delve deeper into the markets. our mliv asia strategist joins us. said the august will be a month that could be pretty volatile for stuff, but they are rising. well, not today, but they have from geopolitics and concerns of high valuations. should we start to worry or are there good buying opportunities? >> my short answer is going to that the markets could continue to come back. we see positives and negatives. another negative news on the china-u.s. side. it is still the same story. but on the positive side, there is more progress in the vaccine world and relief over the big company having a surge. between the negative and positive forces, you can continue to look on the bright side and move higher. i am seeing the

percent of their sales in india the sensex well it's up for the week the index gained 1.5 percent the nifty bank outperformed estimates and 59 points higher bank and i see i see i bank they contributed largely to those gains while energy stocks they also pushed the index up. the a.s.x. was up for the week following a few turbulent trading days the index saw gains on tech stocks surged in the us but did see some losses a before close although not enough to erase the gains for the week and the all share in south africa is in the red for the week this after the federal reserve released their minutes expecting kobe 1000 may weigh heavily on the economy for some. time now the mining sector also fell to its lowest level since early august and that mining sector has really been pushing those markets up moving over to europe to america and the americas as where things are really mixed as well in london the footsie it's in the red for the week on economic data coming out of the u.s. the index took a big hit on friday after u.k. borrowing record levels debts hit 2 trillion euros for the 1st time ever

let's move to india where the sensex it is up for the week as well after that pretty flat friday the nifty 50 s. top gainers asian paints and surged nearly 5 percent still india has a long road to recovery as the country has recorded more than 2000000 coronavirus cases and more than 41000 deaths in australia the a.s.x. it's up for the week as well despite 8.62 percent decline on friday when the reserve bank of australia issued a bleak economic outlook still mining continues to push the index up and moving to south africa the all share is in the green after for sure 8 days of gains the country's stock plunged again on that u.s. ban on chinese owned tick tock and we. had apps which will happen in the future we're going to is going to move over to europe and the americas and see how western markets ended the week in london the footsie it's up for the week after a surge earlier this week investors kept their eyes on better than expected unemployment numbers out of the u.s. on friday they're also looking at those u.s. china tensions on that tech band now the french cac in the german dax there a

percent of their sales in india the sensex well it's up for the week the index gained 1.5 percent the nifty bank outperformed estimates and 59 points higher bank and i see i see i bank they contribute largely to those gains while energy stocks they also pushed the index up . the a.s.x. was up for the week following a few turbulent trading days the index saw gains on tech stocks surged in the us but did see some losses before close 'd although not enough to erase the gains for the week and they all share in south africa is in the red for the week this after the federal reserve released their minutes expecting kobe 1000 may weigh heavily on the economy for some. time now the mining sector also fell to its lowest level since early august and that mining sector has really been pushing those markets up moving over to europe to america and the americas as where things are really mixed as well in london the footsie it's in the red for the week on economic data coming out of the u.s. the index took a big hit on friday after u.k. borrowing record levels debts hit 2 trillion euros for the 1st time ev

nifty 8/10 of 1% higher. haslinda: reversing yesterday's losses.ng down to the rba decision and expected to keep rates on hold. the stricter lockdown in victoria may hit forecasts. we will have a preview. this is bloomberg. ♪ rishaad: global coronavirus cases past 18 million with the pandemic adding one million new cases in the last four days. even with the figures, the vice dean of john's top ends bloomberg school of health told us could get worse when flu season comes around. >> it's a major concern. i think the world is hitting records in the total number of arenavirus cases so we really in the thick of the pandemic and we are seeing surges in the philippines and in vietnam, which have not had serious coronavirus outbreaks to date. even japan has had the highest number of cases it has. i think in japan, the answer is clearly that they completely opened up. they acted like the virus was behind them. that is a mistake every country in the world make at its own peril. other countries had been almost completely spared at the beginning and people won

i'm not too worried about nifty -- i'm not too worried about brexit going forward.t housing prices, they started to rebound. we would expect once covid relaxes and as restrictions relax, we will start to see an increasing in house prices going up and that means more of an indication about whether there is external fear of brexit going on. anna: thanks very much for joining us. curt custard, newton investment management cio. the will be continuing conversation on bloomberg radio, 9:00 a.m. u.k. time dab.us on london let's get a business flash with laura wright. undergoing aro is revamp. trade andop providing commodity financing altogether. it comes as the bank is trying to turn around its investment banking division, hard-hit by the coronavirus crisis. in a is splitting shares 5-1 exchange to make the stock less expensive for individual investors as the carmaker's recent surge pushed its valuation to $215 billion, more than ford and toyota combined. trading on the split basis was august 31. microsoft is delaying halo infinite, the biggest game for the launch of its n

they're not cheap but by -- historical standards and the nifty fifity of 1972 and the technology bubble're not in any way expensive. and people could conjure up whatever they want to conjure up. annmarie: that was leon cooperman, omega family office chairman and c.e.o. he's talking about three market, one being the fang market. i think you've seen this exceptional stunning rise in apple. it's trading at the highest percentage premium since november, 2007, and of course the freeze on the block when apple shakes its tree everyone feels it. the dow we now have exxon leaving the dow. making way for others like cloud computing companies. manus: look. this is the risk isn't it though? the market breadth. even i wasn't around in 1972 that leon refers to. he doesn't say the valuations are stretched. apple up for the fifth day in a row. rgan stanley at -- $520 from $431. ok. that is the apple phenomena. need a new phone. coming up, the year of the day trader. we take a look at the urge in retail investments around the world. right here. this is bloomberg. ♪ annmarie: good morning. is 2020 the ye

they are not cheap, but by historical standards with the nifty 50 of nathan 72, and the technology bubble are not in any way expensive and people can conjure up whatever they want to conjure up. tom: into the world of steven rattner, you learned in columbia business school of a 60/40, or a the business market of asset allocation. what is the leon cooperman theory even the distortions that we have now? can you stay with original investment science, or do you have to invent something new for the next 10 years? age, look, i'm 77 years of i have no clients, i retired at the end of 2018. right now i have very, very few bonds. i think bonds represent a return-free risk, and i would begin to explain to you there are three markets out there -- there is the faang market, richly appraised but not ridiculously appraised. a robinhood market, which is totally ridiculous. tvrettably, i set on this on -- i said this on tv a month ago. carl icahn is as bright as they come. he liquidates his position at $.72 a share, and three weeks later trading at five dollars. eastman kodak -- robinhood platform. tesla

youth choir members across america are set to sing the each member of the nifty seven part children's choir will represent a different state or territory. the republican national convention takes place next week. it is expected to follow a mostly remote formula. >>> taking a live look out at capitol hill where house speaker nancy pelosi is cutting lawmakers' summer recess short. she is calling lawmakers back to lawmaker to take action on the u.s. postal service crisis. in a letter to democrats, pelosi wants members to vote on legislation barring the usps from making operational changes which weren't the year. president trump's new postmaster general, louis dejoy has sparked outcry over cutbacks and mail delallstatesand e district of columbia ing moats havecalled dejoy to te testify on capitol hill. >>> uber and lyft are ratcheting up a fight with california. diane king hall joins us with that story and more in this morning's money watch report. good morning. >> reporter: good morning. uber and lyft are threatening to suspend service in california this week. on thursday estate lot tics

starr from the planning department, is there anything you would like to add to that nifty synopsis that i just gave, or ms. merloni, or anybody from planning. we're fixing a mistake. >> i believe that we are satisfied with your description, chair peskin. thank you. >> chair peskin: thank you, miss merloni. are there any questions or comments from members? seeing none, is there any public comment on item number 2? >> clerk: thank you, mr. ch r chair. michael is letting us know if there are any public callers. if you have not done so already, please press star-three to be entered into the queue. if you have not done so. please wait until you are unmuted to begin your comments. >> there appears to be no comments. >> chair peskin: thank you, michael. public comment is closed, and i would like to send this forward with a positive recommendation in due process to the full board. roll call on that item, please. >> clerk: on the motion as stated by chair peskin -- [roll call] >> clerk: you have three eyes. >> chair peskin: could you please read the next item. >> clerk: yes. item number three is

starr from the planning department, is there anything you would like to add to that nifty synopsis that i just gave, or ms. merloni, or anybody from planning. we're fixing a mistake. >> i believe that we are satisfied with your description, chair peskin. thank you. >> chair peskin: thank you, miss merloni. are there any questions or comments from members? seeing none, is there any public comment on item number 2? >> clerk: thank you, mr. ch r chair. michael is letting us know if there are any public callers. if you have not done so already, please press star-three to be entered into the queue. if you have not done so. please wait until you are unmuted to begin your comments. >> there appears to be no comments. >> chair peskin: thank you, michael. public comment is closed, and i would like to send this forward with a positive recommendation in due process to the full board. roll call on that item, please. >> clerk: on the motion as stated by chair peskin -- [roll call] >> clerk: you have three eyes. >> chair peskin: could you please read the next item. >> clerk: yes. item number three is

markets are pretty much in .ositive territory i the sensex and the nifty index, 0.61%.ing by the rupeeoften by strong inflows into share sales. the weak dollar also contributed to a stable currency, it has been trading within an error range so far. let's look at some of the movers -- trading within a narrow range so far. let's look at some of the movers. reliance is currently up 1.14%, buying a state in another company. vodafone is also in focus. there is a hearing on wednesday. india is asking auto companies to cut royalties to foreign plant, according to a reuters article. suzuki's up. up, businessesaping reopening in the city in hong kong. bloomberg intelligence sees wide opportunities. details later. this is bloomberg. ♪ yvonne: looking ahead to the trading day in hong kong, which has yet to open after the typhoon forced the morning session to be canceled. that should be happening in just time.over an hours it all comes just as the hong kong exchange is to report earnings of the top of the hour. let's get a preview with bloomberg intelligence senior analyst. expecting,t you are and

if you not fully invested, if you are not long the hot stocks of the day, whether it was the nifty 50the 1960's or the faang stocks today, you are missing out, and you can throw in tesla and other names with that. the question is how these people do over an extended cycle, not just the fat part of the up cycle, which is what we've been experiencing since april. no the math -- you and i know the mathematics of this. you can market time and be successful, but there is always big -- there is always one big move. the cost of missing that one big move absolutely destroys your alpha. robert kirby was legendary on this. if you try to be spx by 200 basis points over 20 years, if you miss one or two of the big moves up, you're 200 basis points evaporates, doesn't it? barry: it is even worse than that. two of the guys in my office have done research that shows the biggest moves up and down all tend to come bunched together. they tend to come very close. if you are and timed it perfectly, you have to be ready to jump in before the next 3% or 4% up move. they all have very sequentially. you miss

it reminds me of the early 1970's when the nifty 50 took the market higher and the at the market collapsedeptember, october, november that year. it bothers me it has become this small, this tight, this narrow, and i think it should be paying attention to that fact. anna: is it all about retail investors? >> i think it is somewhat about retail investors. it is bothersome to me as a long-time pro in the market that you have got robinhood taking the lead on some -- so many things. you have people saying this is a business, buy stocks and they go up. that is not exactly true. if you bought microsoft, apple, any of the -- yes, they go up. if you bought banks, not so. energy, not so. if you bought agricultural stocks, not true. narrowness bothers me a great deal and makes me less enthusiastic about stock prices at these levels. tom: dennis, there seems to be two americas. mr. kudlow talking about the prosperity out there. we see that in the equity markets. a lot of valuations. that is all fine and well, but how do we pick up the rest of america right now? are you in support of immediate stimulus

here's the how-to book this is "50 nifty ways to jazz up your jeans.ns, man. this is perfect for the pandemic, i think. let's see what's in here oh, yeah, i like this one here this one's called party pants. very simple. you just glue a tic-tac-toe board on your jeans. then you ask everyone to just draw on your nether region oh, actually - >> boy >> jimmy: it says, note, you should not wear your jeans because the blue could seep through and you could be stuck wearing your party pants for a long time. >> now you tell me >> jimmy: how long you been wearing your party pants >> dude. too long >> jimmy: this next up is a children's book. i love kids' book, you know that, man. this one's called, "what's growing in grandma's garden? a book to help grown-ups have a conversation with children about cannabis." >> wait, what? >> jimmy: never too early to tech your kids about how grandma loved to get baked there you go take a look at some people there eating kids playing under a tree. then there's grandma, sitting by herself in front of a locked greenhouse >> she's

cheap, but by the historical standards of the nifty 50 of 1972 and the technology bubble of 2000, theyot in any way expensive. people can con drop whatever they want to conjure up your tom: i want to go -- they want to conjure up. tom: i want to go through this. cooperman ofeon omega. also mr. ratner writing an essay on markets. steve rattner managing some of the assets of mike bloomberg. he has appeared with us many times before. leon cooperman, to the world of you learned that columbia business school ewa 6040 efficient market -- of a 60/40 efficient market. what is the pooper and theory given the distortions we have? can you stay with investment science or you have to invent something new for the next 10 years? leon: i am 77 years of age. i have no clients. i do what makes me comfortable. right now i have very few bonds. i think bonds represent return free rest. i was beginning to explain to you there are three markets, there is the faang market, ritually appraised but not ridiculously appraised. then the robinhood market, which is ridiculous. totally ridiculous. i said this on tv a

. >> 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 activ

>> yeah, if you look back at the 1972 list of what was called the nifty 50, you had stocks like xerox, burrows and all of them are diminished or gone now part of it with technology is they have a short life cycle, so putting apple in a short life cycle just doesn't add up. that's one of the drawbacks on this current market. it's bubbly for repressed interest rates and it's forcing people to speculate on companies that really don't have that long of a life cycle. >> let me ask you, though, about this changing business model, because i totally take your point about how technologies changes, but at the same time if apple is trying to basically be trying to take a portion of everything we spend on its phones, the subscription model they're looking to roll out, even a bigger subscription model, and as you know better than anybody, look at adobe, look at microsoft, all these names at unheard of valuations are doing so because people don't see a reason why they shouldn't just continue to take a share of gdp >> it's a great story now. it reminds me of a book i read about 30 years ago called "

we have the nifty banking index, 1.2%. have thai trade numbers. exports falling.coming in at $3.34 billion. the estimate was for 1.2. exports are very important to thailand, along with tourism. both have been slammed. the pain has been compounded by the strong baht. weighing on the economy as well. still to come, we hear from the of the teachers retirement fund about the value of tech stocks and whether that is sustainable. haslinda: gains in asia, according to -- the s&p posted record highs. tech providing underlying support. the days leading to jackson hole could be volatile. all the money is staying on the sidelines. u.s. futures, there you have it, positive territory. public: california state pension fund saying the tech field rallies may have more room to run. the $250 billion fund is looking elsewhere. the cio tells us why he sees a huge -- t for tesla, add a those are all doing well because of covid-19. eventually, we will solve the health crisis. then there is the question is, what happens on the others? microsoft and apple combined are bigger than all of

the nifty index, let's have a quick look at what it is doing.enchmark is on the way down by 0.5%, haslinda. haslinda: staying with india, coming up, a close colleague of indians per -- india's prime minister has tested positive for coronavirus as the nation's total cases head towards 2 million. we will have the latest from new delhi. this is bloomberg. ♪ haslinda: general motors is working with an electric vehicle charging operator. the gm president spoke exclusively to bloomberg. >> the energy source for that tv charge network -- for the evgo charge network is 100% renewable, so that is a powerful thought you think about that. that's why we are proud to ittner with ev-go, because is very competitive with general motors. -- obviously it is going to serve you well as you roll out general motors. electric roll out motors. what about tesla? >> tesla made a decision to do something different from a connection standpoint, so that was their decision. the plugs and the connections an, generally speaking, sae-type standard, soper lots of other-- so

nifty pointing to its marginally lowest start.nsumer pricing coming in a bit more than economies expected in july. 6.93%. there we go. at the moment, unchanged. a fourth consecutive week of gains against the dollar coming against the backdrop, approving additional budget to counter drought and flooding. it just came on to start its trading day. fraction below the gain line. that against the backdrop of the prime minister saying that the country is facing its worst economic crisis in record and that it will endure until the end of next year. a quick look at treasuries. 10 year yield at the moment. 70 basis points. that is what we have. against this backdrop of one of the worst weeks and months after an attempt to sell a record quantity of 30 year bonds, received a less than enthusiastic response from buyers it managed to limp over the line. marketsve away from the to first word news. palestinian leaders said to be rejecting claims that israel and the uae are close to a diplomatic deal. the white house says it would be an historic t

the nifty is pointing to a higher open, up 0.3%. at 74.82.er for hong kong officials after sanctions by the u.s. banks are taking steps to comply with the restrictions to secure access to crucial dollar funding. steps were taken by other global banks to remain in compliance with the sanctions. steps are these chinese entities taking to fall into line with what the americans are doing? >> good morning. as you mentioned last week under an executive order from president trump, the u.s. sanctioned 11 chinese in hong kong officials including the chief executive carrie lam. this was not entirely a surprise for banks, they have been bracing for this for months. and large foreign lenders like bankingp have increased clients in hong kong. most surprisingly, we are seeing for the state run chinese banks including the bank of china, china construction bank, they have turned cautious a new account for individuals, one has been suspended, and transactions have an added layer of compliance checks. some lenders have banned u.s. transactions. haslinda: why a

whatng a we can expect from the india open after yesterday's advance, on the singapore contract on the niftytory output declined again, the economy struggling to reopen amid the coronavirus pandemic. looking at gold, the big story, two point 4% down, erasing some of the losses but still below $1900 per ounce. look at the yield on the 10 year, creeping up 60 four basis points at the moment. the rise that pushed gold to these record highs coming to an abrupt halt. the haven, boasting the biggest drop in seven years because of the bond yield story which had been supporting what was going on with gold. treasury bond yields climbing, cutting into the negative real rates. 10 year treasury yields jumping the most since june ahead of an expected flood of corporate and government debt issuance. positive data, helping with u.s. producer prices, increasing faster than have been anticipated. u.s.-dollar index moving up by 0.1%. biden has named california senator kamala harris as his running mate for november. he is betting her ties to the african-american community will help propel him to the white hous

the nifty bank has opened 1% to the upside. we were going to look at movers.e to what we have coming up. a massive explosion has rocked beirut, leaving thousands dead and thousands injured. it is a developing story and a tragic one. this is bloomberg. ♪ haslinda: dozens of people have been killed and thousands have been injured by a massive explosion in beirut. the blast on the port was so powerful it blew out windows across the city and was hired in cyprus. officials have yet to confirm whether it was an accident or a deliberate attack. bloomberg's africa executive editor has the latest. what do we know about the cause of this blast? minister has blamed ammonium nitrate. it was apparently being stored at the port of beirut. they said that supply had been there since 2013. that seems to be at the moment the cause of the explosion according to the lebanese government. and theret is early will be a lot of questions about how it exploded, what triggered the explosion and at the moment, i think people are focused on the casualties and clearing up after the event.

nifty six in the santa rosa now. 58 in san francisco. low 60s and oakland and livermore. the marine layer is at 1200 feet. inland cities waking up with sunshine but many of us have cloud cover and drier air and cooler down by 5 degrees in most areas. it has to do with the onshore breeze that is blowing all the way through the delta this morning. when it comes to the fog, visibility is tough along the coastline. half moon bay reporting less than a quarter of a mile but everyone else looking okay. look at what's going on with the added relative humidity, the fog is back. a bit of an onshore flow going on as well. right there at the czu complex fire, we got great humidity. temperatures are good and the winds are light. getting into the afternoon for air quality, unhealthy for sensitive groups. north bay in the san francisco coastline and through the center bay and east bay, it will be unhealthy once again today. afternoon highs cooling off slightly as we go into the next few days the afternoon highs and plus what to ask act in the bay area, coming up in a moment. let's check

i'm old enough to remember the nifty fifty. so speculation can continue for a long time. a good valuation. when you see companies, i mean, hike a spotify with $50 billion in market cap and no earnings, must give us pause you have to be cautious. it's for people when want to, you know, play black and red on the roulette wheel >> pivoting back to the bigger tech names you didn't put into the most concerning basket including apple which you own, pushing up against $500, up another 8% this week worth over $2.1 trillion. i mean, do you start to consider selling your stake in apple? how you are thinking about that particular stock right now >> it's about 2.4% waiting in our portfolio. it's the largest hole. i suspect if it gets above 5%, we trim a little bit of it sitting for $80 billion on the net cash that is bigger than the gdp of a lot of countries around the world. i'm not saying that these aren't great companies. they are but when you get upwards of 30 pes, they're expensive >> when you compare it to the russell 2,000 which underperformed the market, the russell essential

we offer a house plant, which is a nifty blend of five types of spanish olives, which incorporates this offer a tangerine olive oil, a new product, fresh tangerines. you taste possessed from the appeal of the tangerine. -- you taste the zest from the peel. >> emerge very well. excellent. they sell different types of salt here which are a big thing in it killing our world. i have found at home that it makes a big difference the texture of the salt, not word is from -- where it is from. where is this from? >> it is from france, the top layer of of salt, a very fine salt. for every 80 pounds of the great salt, 1 pound of this is made. >> we did not really talk about the clock tower yet. at 230 feet tall, this is built as a replica of of the clock tower in spain. this was electrically i polite. electrically operated? >> correct, but it still can be run mechanically. ithe clock master comes in at te time that it is changing. we also have clock watchers across the street who tell us if it is off by a second, so he is very attached to the clock. >> we have a clock master. and look at this, the