SQUAWK BOX, TUESDAY 28TH JULY, 2020

Republican lawmakers announce they have agreed on a $1tn virus stimulus bill with Senate majority leader Mitch McConnell saying the U.S. “has one foot in the pandemic, one foot in the recovery”. Market uncertainty keeps gold at record highs but just shy of the $2,000/oz. price. Spanish Prime Minister Pedro Sanchez slams the UK government’s blanket quarantine decision as ‘not justified’. London has extended the measures to include the Canary Islands and Balearics, prompting sweeping flight and package cancellations from travel operators. And in retail news, there are disappointing H2 earnings from Moncler as well as luxury giant LVMH which posted a near-70 per cent slump in operating profit.