Warren buffett and Berkshire Hathaway in a big way. And later in the show, a live stream update on the musk and zuckerberg cage match. It is monday, august 7th you are watching Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready for the day. We kick it off with the u. S. Stock futures. Green across the board nasdaq doing the best up. 30 . At this hour, the dow would open up 70 points higher. This is after the poor showing last week with the s p and nasdaq coming off four Straight Days of losses and the worst week since march 10th. You see the nasdaq down 3 s p almost by 2. 5 it was rough for the tech sector the sector coming off three Straight Days of losses. The sharp decline down 1. 5 . Excuse me. 4. 25 . The fitch downgrade is playing a factor it was dragged down by apple which had its worst week since 2023 we had a very busy week for fixed income and new longterm issuance yields here with the 10year treasury at 4. 09 yiel
Us a bit of support. A little bit of strength on the yen. The bank of japans yield curve control may not impact the markets which some are expecting, so do not expect any great strength. Crude oil, and opec meeting coming up. Yvonne you have the dollar sinking the most in two months so there was this fed commentary about how it looks like what the fund is leaning towards is a positive or a skip in june. That is helping lift overall the risk move. Even china, you take a look at the rally we are seeing in the hang seng. The extreme bearishness is coming off a little bit now. Rishaad yesterday if we wanted to go to the advice of the hang seng in 2018, you would need to have an 18 improvement. But ecb inflation. Christine lagarde has a bit more wiggle room, came in at 6. 1 inflation. Compared with pakistan yesterday, 37. 97 . Yvonne yikes. But the euro story will be interesting. If they are also close to a positive we heard from some of the ecb officials that may be the next few hikes are
And butter, focusing on what the Central Banks are saying. The fed minutes bringing some of the air out of the recent rally we have seen in the u. S. , higherforlonger has been the narrative from Central Banks there as well. New zealand yesterday. The bank of korea today. Take a look at some of the data processing, gdp numbers from singapore. The 2025 growth estimates being maintained between 1 and 3 permit First Quarter gdp rising hotter than expectations. The final firstquarter gdp on a quarter or quarter basis seeing a rise of 0. 1 . The estimate was for a small degree of contraction, 0. 3 . So a bit betterthanexpected numbers. As we get the cash trading session underway. Thats right, markets are just coming online this morning for japan, korea and australia. Lets look at how japan and korea are getting underway. Its a mix of what were seeing in the numbers. Broadly, we have some upside coming through. Its a few different themes we are tracking. You have a bit of Dollar Strength, th
Haidi welcome to daybreak australia. We are counting down to asias major market opens. Annabelle the top stories this hour, asias chip and tech stocks sent to take the spotlight after nvidia delivers a bullish sales forecast, bolstering confidence in the ai frenzy. Haidi Anglo American agrees to talks with bhp, opening the door to what could become the biggest mining deal in over a decade. Annabelle plus, we speak would live with rbnz governor adrian orr about the Central Banks office hold and why he is still worried about sticky inflation. Haidi that is a Big Conversation as we continue to talk about risks when it comes to economies deciding when the first easing move will comp it we have more data coming through across the bloomberg and it australia pmi. The may flash manufacturing pmi coming in unchanged. Still in the contraction territory. The composite number coming in at 52. 6. Also that a bit of weakness from the previous reading of 53. The preliminary Services Number maintainin
Shery hello and welcome to daybreak asia coming down to asias major market opens. Haidi australia open for trade. Israel and hamas trade lame after a deadly explosion at a gaza hospital. President bidens summit is canceled. Asian stocks are set for mild gains and traders are awaiting thirdquarter gdp and monthly activity read nvidia warns of tighter u. S. Restrictions on ship sales to china. Lets get you to the start of trading in australia as sydney trade comes online. Again of 4 10 of 1 , particularly watching some of these minerals names. The haven deal to buy coal from mines operated by bhp, two names to watch as they come online. Modest upside in the first few minutes of trading. Watching the aussie dollar which saw a bump up when it comes to hawkish buyers. The low tolerance, inflation returning to targets. Michelle bullock speaking at a panel saying the Housing Market has surprised her amid the Inflation Expectations that the Global Economic paradigm that has not changed since t