i am tom mackenzie in london. the u.s. and its allies prepare for a significant set of attacks against israel from iran that could come as soon as this week. western leaders urging restraint. oil slips after a five-day advance with the threat of an escalation in the middle east offset by signs of weakening global demand growth. japanese stocks surge, recovering from last week's rout. confidence in china continues to crumble, with transactions sinking to their lowest level in over four years. u.s. inflation data in focus later. let's check in on these markets, then, after essentially a flag day across europe and u.s. yesterday. .3% up. ppi out of the u.s., the inflation print to watch today as we lead up to the cpi wednesday out of the states along with inflation data out of the u.k.. the ftse 100 up one before points -- nasdaq futures pointing up by 51 points. let's lacrosse asset. weakness continues. the markets are back. you are seeing gains come through from japan. the japanese yen down .4%. the benchmark u.s. 10 year a

i'm tom mackenzie. surge, futures point two gains and mary daly emphasizes the fed does not react to one point. kamala harris wins and we discussed her running mate options. a judge rules google acted illegally handing the government its first win against a tech giant in more than 20 years. alphabet taking a hit, futures point higher. there is a pause in the selling yesterday, but for how long? european futures pointing higher after losses of 3%. ftse futures adding after losses of 3%. nasdaq pointing higher. worst start since 2008. flip the board because today there is some selling, yields are up, edging back at the front and after dissing version. japanese currency is down, brent gaining 1.2% and 10% route in bitcoin, paring losses for the crypto. getting earnings from a company challenged year to date. in terms of earnings, and the second quarter, adjusted earnings in line with estimates. in terms of the top line when it comes to the second-quarter adjusted earnings, raising sales for pharmaceuticals

i am tom mackenzie in london. are the stories that set your agenda. >> a reduction in our policy rate could be on the table as soon as next meeting in september. tom: u.s. futures point to further gains for the s&p after the fed signals a rate cut as soon as the next meeting. on a knife edge. markets but the bank of england could vote for the first interest rate cut since the start of the pandemic. plus, meta beats on sales as facebook delivers on insta results. we will have a look at apple and amazon later today. to the autofocus story in europe and a focus on the journal oddsmakers -- german auto makers. a miss for bmw and they can blame china for that. a miss coming through for bmw of around, in terms of the revenues i should say, 32 billion. the revenues in terms of the second quarter marginally above estimates but in terms of the margin, that's the miss. 8.4%, the estimate had been for 8.5%. we know china has been a challenge. in terms of their full-year margin guidance, we know analyst have been watching for

tom: i'm tom mackenzie in london, this is "bloomberg daybreak europe." inflation optimism, asian stocks extend wall street's rally after a soft reading on u.s. factory prices adds to hopes for a rates cut. the fed warns they want more data before easing. we were preview today's key cpi print. stepping aside, japan set to get a new prime minister after the prime minister says he will not run for a second term as leader of the ruling ldp. ubs posts higher-than-expected profit in the second quarter as net income hits $1.1 billion, smashing the estimates. we will bring you the details. ♪ tom: a massive beat from ubs in the last 50 minutes, net income coming in above 1.1 billion in the second quarter, double the estimates of $520 million. ubs said we know this is crucial to investors still targeting up to $1 billion of share repurchases in 2024. it is reaffirming their plans around capital returns in 2024 saying they have that resilience on the balance sheet. ubs on track to reach profitability levels pre-swiss credit merger, and they see that momentum contin

coming up, joyce chang, tom mackenzie, tom for sally -- percelli as we wait for the doubleheader of retailthe truth is the economy is doing great. >> what we need to see is continuation in terms of inflation easing. >> the fed and the market are comfortable that inflation is down. >> we do not want the fed to be cutting rates too quickly. >> the fed is an ok place. >> this is bloomberg surveillance with jonathan ferro, lisa abramowicz and annmarie hordern. annmarie: walmart-- lisa: walmart earnings and then more coming up. retail sales as well as jobless claims. welcome back to the third hour. annmarie, lisa, and dani. jon is off right now which is a good and beautiful thing and he will be back on monday. after getting walmart earnings that seem to defy some gloomier prognostications about the economy. dani: the ideas if walmart is doing well consumers are trading down but you are seeing a walmart that is investing a lot to complete -- to compete with amazon and offer value products. that suggests a walmart capturing consumers willing to spend. they are just being more discriminating. lisa

i'm tom mackenzie in london. these are the stories that set your agenda.point higher as traders weigh the prospect of a second week of volatility. investors argue a u.s. inflation print could be key in next month's decision. he have accuses russia of starting a fire at europe's largest nuclear power plant as ukrainian troops continue to hold ground gains during a surprise incursion into russia. plus, a new poll shows kamala harris leading donald trump in three key swing states. we will bring you the latest on the race for the white house. european futures pointing to gains as we kick off the monday session. looking forward to kicking off the session at 8:00 u.k. time. up around 0.5 percent. european stocks have made up all the losses that came through after that volatile and historic day last week. this time last week, the market slump that we saw, those losses have been paired. futures pointing up. the ftse 100 looking to add 33 points. iron ore a little softer in the session. s&p futures flat. michelle bowman of the fed saying she is not convinced the wo

i am tom mackenzie in london. sealing the deal, global stocks gain after easing u.s. inflation makes a september rate cut all but certain. we look ahead to u.s. retail sales, u.k. growth data and results from walmart. chinese stocks find support with signs of life in the consumer sector as retail sales pick up, but infrastructure spending surprises to the downside, underscoring the economy's long-term headwinds. hedge fans load up on apple shares while trimming their holdings of nvidia. we will break down the latest filings. so the data is aligning for investors this morning, stronger picture out of japan, a jobs number out of australia that looks more positive, and the inflation dynamics in line when it comes to the picture in the u.s., inflation heading in the right direction and opening the door for the potential september cut. voice coming through from the fed speaking suggesting fomc members are aligning to suggest september good to suggest september could be go on the first guy. european futures pointing to gains of .5 of 1%. we await the gd print out of the u.k

tom earlier made the comments that's a briefing in geneva in. can you the leader of a christian doomsday colt as go on trying the keys to months little to pull that mackenzie was arrested after the remains of more than 400 people were found at a far as last year? he's accused of encouraging followings to stop themselves to death, telling them that they would go to heaven. mckenzie and 90 full co defendants also face to charges of mad terrorism, getting nothing. and torture of children's this is the main stories here on office there. i'll be back with both of these in just in the house those time, but next on the out is there is people in town on the team here in the thanks for your time and your company the from august 19th until the 22nd and delegates will gather in chicago for the democratic national convention. carla harris will make history as the 1st black women and asian american us presidential nominees to walls is who are running in less than 3 months handling with the election full coverage analysis. here the the breakup of yugoslavia in the early 1990 led to a series of brutal, comfortable ethnic tensions and the struggle for independence. punch

the sun, kelvin mackenzie , and the former labour mackenzie, and the former labour special adviser paul richards. kelvin, we'll start with you. clearly tomendhat is trying to put himself as sort of a centrist figure between the left and the right. is he landing the right tone? >> well , i the first point right tone? >> well, i the first point is that people aren't interested in this. there's a poll out tonight which shows that 62% of the country couldn't care less . and country couldn't care less. and actually, among that lot, there isn't a natural, a natural leader come competitor, come fighter, which i would walk easily behind, secondly , easily behind, secondly, tugendhat is trying to be all things to all people. the thing i most dislike about him is that not in that speech, but in a previous speech, he said that he would scrap a echr right now, not. look, he he's a one nation tory, right? not a word about echr has passed his lips now in. i don't know how long he's been in power. i think he he will finish somewhere near last anyway, because the politics of the conservative party, such as they exist today, are to the right. and so i am