Damaging as the financial crashes. Italy is taking steps to contain the worst infection rate outside of china. All businesses and pharmacies are ordered to close. Shery lets get you a check of the markets in the u. S. We had the dow fall into a bear. Arket territory, falling 20 the s p 500 a hair away from the 19 lower than the previous high. We had every group on the s p 500 sinking more than 3 . The nasdaq down 4. 7 . U. S. Futures under pressure. We have seen no more details on the substantive stimulus that President Trump had promised. In the afternoon, he said at one point that the u. S. May not need the fiscal measures. That did not sit well with the markets. U. S. Futures gaining 2 10 of 1 . We will see how we do without how we do throughout the rest of the session. News and headlines dominate market sentiment. Sophie a lot of caution. A she futures pointing lower despite the global stimulus engine being revved up. In new zealand, a fiscal response is being considered. The rbnz
And says it will support a slowing economy. Australia fights bushfires on two coasts as the fans flames are fanned. Hottest days since record began. Shery clicks check foraw the dow gaining. 8 the first time surpassing the 28,000 level as we had a broad risk on session. S p 500 being led higher by health care and trade sensitive tech stocks. More positive trait headlines and that helped boost the stock market. Semi conductors, the Philadelphia Semiconductor index at a record high after Applied Materials came out and boosted sales forecasts. Nasdaq also at a record high come up. 7 . Haven assets broadly falling. 10 year yield rising for the first time last week not to mention that the dollar also saw a weekly loss. We will keep a close eye on what happens in hong kong this morning as we are now Hearing Police are ready to storm into the Polytechnic University in hong kong. Lets see how things are shaping up in asia. Sophie hong kong certainly is a focal point this monday morning. We are
More on our website and the news app. Now on bbc news, live to singapore for Asia Business report. There australias brexit beef. Why the United States and china are back in canberras call for compensation from britain and the European Union. India embraces body positivity. Social media influences have helped to change attitudes. Hello, and welcome to Asia Business report. Im sharanjit leyl. We begin with brexit, because the worlds two biggest economies, the us and china, are among the group of country arcing a demand from australia for compensation from the uk and the European Union over losses incurred by its beef and lamb exporters. Backing a demand. More now on the story from a reporter mariko oi, who joins me in the studio. What is going on . Australias argument is that its businesses have really been affected because of brexit delays, because they stopped exporting beef and lamb ahead of those three possible deadlines, remember, those three dates in march, april and then in octobe
Negotiator says talks have gone well and they are on course for a partial deal. The 20th weekend of protests in hong kong, targeting chinese owned his misses. Chinese owned businesses. Imfleen coming up, the reading in washington including conversations with John Freudenberg and others. U. S. Stocksow ended, look at the big picture, ongoing trade war worries. Lower across the board. One big name which was responsible was netflix, closing down across 6 . Forecasters of cyber growth falling short. It hit the nasdaq 0. 8 lower. Johnson johnson recalled baby powder that came up with traces of asbestos. Boeing, questions by the faa about what they knew before the max was reported. 4 . Dow is down, s p down there was good news. Jpmorgan numbers better than forecasted. Cocacola was very solid. For the week and the second week, the stocks closed higher on average. Positivity out of the negativity. What are you looking at . Sophie asian stocks going for a mixed start after a weekend of imf meet
Ladies and gentlemen, the president of the United States and the Prime Minister of australia. [applause] President Trump thank you very much. Please. Andad a spectacular morning it is an honor being with the Prime Minister and mrs. Morrison. Thank you very much. Australia is a fantastic country and a brilliant ally. We just spent a lot of time together with our representatives and they get along very well and we are doing a lot of deals. Military, trade, we talked everything you could talk about. And we came to the same conclusion i think in every single case. But i just want to say that it is an honor having both of you here. Thank you very much. You have a truly great country and i dont think we have had a better relationship and we have right now and tonight, we will have something very special in the rose garden. All of the money we spent and the month and the weather predicting equipment, they say there is no chance for rain. If there is, we will run back into this room. First lad