Prepare for their first debate. Says it is close to compromise in australia that would force it to pay for news desk get a quick check of the market. Usurers are under pressure. Futures are under pressure. The s p 500 lost half a percent in the regular session. The volume was lower than the 20 Day Moving Average given that we had the first president ial debate coming up at about three hours. Data was positive. Consumer, its jumping u. S. Consumer confidence was jumping. Companies imported more on demand. That news sent the dollar weaker. We got some fiscal stimulus negotiations and talk about a potential deal continuing to affect the markets. Look at what oil is doing. It continues to fall down toward 39 per barrel. Thats the lowest level in two weeks. It is plunging below the 100 Day Moving Average for the First Time Since june. Top traders are saying that oil will not meaningfully recover for at least another 18 months. The resilience of the chinese economy that drives the ecocalenda
Boris johnson sparked outrage. News out ofing south korea. We are getting the jobless rate falling to 3. 2 percent. The expectation was that the jobless rate would come in at 4. 2 percent so this is much better than expected. We are also talking about the sixth straight month of decline in jobless rates. That 270 4000ring jobs were removed in august from a year earlier. We know that south korea has seen its government really boost those job creation efforts not to mention we could have seen domestic demand being held by the Summer Holiday season and more jobs being available. The government pushing for a fourth extra budget. This is of course helping workers and businesses who lost income due to the latest restrictions and jobless rates. 3. 2 . In for august at watch out for what happens later in the following months given we have seen this flare up in virus cases towards the end of august, haiti. Haidi. Haidi pretty dire numbers coming out and we continue to watch what happens when it
More Domestic Travel to a little more overseas travel now. Theaad lets get to markets and have a look at what is going on. Nikkei, in with the leading japanese shares, just seeing stocks drifting to the upside. We did see jobless numbers come out. Slightly better than expected, looking for a 3 jobless rate, but 2. 9 . Looking elsewhere, retail sales out of hong kong, looking also at the futures for the u. S. , pretty much flat. Asian equities drifting slightly to the upside. Looking at the shanghai composite, lets look at how the gpi is behaving as well. Just about flat. The shanghai comp, 0. 2 lower. Chinese Economic Activity continued to rebound. Expansion in manufacturing activity, just slowing slightly there. A Rate Decision out of australia later on. Expecting the rba to keep rates. And the singapore market 0. 6 lower. Quick check on the currency is, weve got a fifth straight monthly drop for the dollar. Bloomberg dollar index down by 0. 25 . The yen, a tad weaker. Euro currently
France relaunch. President macron unveiled his stimulus plan. The focus shifted beyond covid into longerterm problems. Russian tensions rise. Angela merkel says there is proof that an opponent was poisoned as he was tested in germany. And mercedes considers an electric version of its luxury maibach to defend its luxury anna welcome back to bloomberg position. Markets european open. Are just an hour away from 53 minutes into a positive the start of cash equity trading European Equity session. U. S. Futures have pared some in europe. Lets take a look at futures losses as well. That is worth keeping in mind. Right now. They are higher in europe. Lets talk to laura cooper from markets live team, where she is we are looking at gains across the board. Macro strategist. One of the things we will be watching for his initial jobless claims. I am drawn to a piece you have futures are higher. Written about the importance of data or the way that data that we usually see driving markets we see drop
Fallout to spread beyond the walls largest economy. As the brexit bluster ramps up, why Boris Johnsons threat is leaving most economists and traders unruffled for now. Haidi lets take a look at how we are setting up when it comes to the asian trading session this tuesday. U. S. Markets remain largely close for the Labor Day Holiday and this is how we are shaping up when it comes to the futures session, looking like we could get some positive momentum going into the resumption of trade. S p active futures up. 7 after the s p closed at the lowest level since august. We have the tech selloff really continue until full force on friday and will have to see whether that resumes when trading resumes later on this week. The nikkei 225 is up by. 3 when it comes to the future session as we get the leadership race in japan officially kicking off dollaryen pretty steady. 106 and a. We have the dollar rising against every g10 peer. The u. K. Is getting closer to that Nodeal Brexit scenario. New yor