SQUAWK BOX, FRIDAY 12TH JULY, 2019
Another milestone for U.S. stock markets with the Dow breaching the 27,000 mark for the very first time, a day after the SaP tops 3,000.The Federal Reserve chairman Jerome Powell has kept July rate cut hopes alive, saying that the central bank would respond to increasing global risks. In addition, Powell voiced concerns over Libra during his Senate testimony while President Trump has also hit out at Facebook’s crypto-currency, saying it will have “little standing”. He also slammed Beijing for not sticking to trade promises ahead of June Chinese trade data being released. And in corporate news, China’s Fosun Tourism Group prepares a £750m capital injection into ailing UK firm Thomas Cook.
