Coronavirus cases and political tensions. The Trump Administration rejects beijings claims in the South China Sea, accusing it of bullying. The u. K. Is set to ban huawei from its 5g mobile network. The plan would mean British Companies need to remove huawei infrastructure by 2027. Welcome to the program, everybody. Lets check out the futures. Lots of moving parts in terms of the market action. Lots of geopolitics to talk about as well. We have futures pointing to the downside in europe. We have to play a little bit of catchup with the united states. Lets get to some of the breaking news out of the u. K. That is certainly going to be one of the focuses in our program. The u. K. Economy shrank by 19. 1 in the three months ending in may. Getting a three month figure. Main manufacturing production rising by 8. 4 . Somecoming out manufacturing facilities coming out of the Strict Lockdown measures, working out how to manufacture in the current environment with covid safe practices. Mayecono
Cases continue to surge at home and abroad. The World Health Organization reporting a new record high for u. S. Oneday infections. This person has been in the job for three different governments. Taking a look at how the markets are faring, u. S. Futures trading mixed. Lower onr we saw friday at the end of a risk on week for u. S. Equities that saw big gains across the board with the nasdaq closing at a record high. It was the first down week in four for the u. S. Dollar going into the july 4 weekend. Longesta stop to the winning streak since january for the greenback. Funding rates continue to decline with dollar libor falling to a low on friday. And the best week for the bloomberg gauge since 2016 with copper notching a second weekly 1800. D gold closer to spreadseeing contango widening. Wti is off, and Brent Holding above 32. 84. Haidi take a look at how things are shaping up early in the monday morning session. Seeing new zealand up. 2 . Chicago nikkei futures pointing to a mixed t
Cases continue to surge at home and abroad. The World Health Organization reports a oneday high for global infection. Japan plans to pitch for ancial workers under g workers uneasy about their future. Lets take a look about a look at how markets are setting up. Asian risk assets likely to see a selfstarter this monday as a sections are weighed up against improving Economic Data. We have a calendar today with hong kong pmi and indonesian Consumer Confidence on cap. Kiwi stocks, little change. Fluctuating. P moving to a 10th of 1 . Haidi to our top global stories, one that is going to preoccupy markets in the second half. Local coronavirus cases topping 11. 3 million. The World Health Organization reports a single day record in new infections globally. Cases any the u. K. , south africa, japan and the philippines continue to rise. The u. S. All the daily infection rates low. Calling for more restrictions to curb the outbreak. In australia, nine Public Housing tower blocks with 3000 peopl
Rate declining. Japan lifts its emergency measures in tokyo, saying theres no need for further restrictions. Scott morrison addresses the pandemic file that later. He is being told he has a once in a generation chance to reform the australian economy. Consider. S to as we get underway this Tuesday Morning in the asiapacific, keep in mind lots of markets were closed monday including the u. S. The futures, to use that is any guide, we can almost say we are in the asiapacific. We are getting this coming online. Up 30 points clear of where you last traded on the s p back on friday, in terms of the cash market. Spy futures indicating a big pop. On top of the best day on monday. Highs. March 111 philip the board and take a look at the currency markets with ecb in focus and perhaps we are getting signals and some comments from key policymakers, we could get more stimulus, probably on the way. I will be generous. The record low. The aussie offshore rate back in september. There we go in terms
Its lows and the s p is higher again thanks to banks. Up about one quarter of 1 , theater and on the 3000 level. As he can see, we were watching for the last few hours with the offshore one trading just below 719. A big fiscal stimulus package proposed as well and that spreads, narrowing the italian german tenyear spread. Lets get a deeper dive in the s p 500. Mentionedthree stocks on the call to investors a short time ago. Effect ond quite an how they have been trading. 2 . Hotels, still up quite substantially after that announcement. I look at the nasdaq and it is the second day in a row it has fallen. Facebook and microsoft, sectors of the market, sensitive stocks are the ones outperforming today. Is shifting the dynamics of the broader market. Make a caps on what contributed to the u. S. Market dominance. Youre looking at the s p 500 relative performance, were seeing the relative outperformance to small caps. The s p 500 although it back in may of 2018. Small caps were reflecting o