Youre in the United States, we are seeing stocks come off their highs. The s p up 0. 1 . Apple contributing big, up 0. 5 on a positive note. Tesla is down about 0. 3 . Lets get straight to someone who can tell us more about all of that. Joining us from dallas is Burns Mckinney, Allianz Global Investors managing director and Portfolio Manager. We are seeing a mill top in the stock market a melt up in the market through christmas. Nothing major, but we didnt really make any losses. We didnt lose anything we gain through the year. Tot you attribute that what do you attribute that . Burns volumes are very low this time of year, so it doesnt take a lot to drive markets up. This is probably just a bit of a continuation of the early Christmas Gift that the markets got in middecember, where they resolved several geopolitical issues that had been weighing on uncertainty. Namely, the resolution or the detente in the u. S. China trade relations, as well as brexit, and establishment that the fed d
wacom welcome to daybreak australia. i m haidi stroud-watts and. shery: i m shery ahn. president biden reboots effort to counter china s infrastructure initiative after an earlier campaign faltered. the fallout of the u.s. supreme court move to overturn abortion right. a new poll suggests a majority of americans disapprove. u.s. futures across asia after we saw a rebound in the equity market with the s&p 500 gaining more than 3% friday, the best day since may. for the week gains were up more than 6%, the second-best reading this year. the vix is well below the levels we have seen it, past bear market. we are talking a level around 27. we continue to watch the oil space. we are seeing a little pressure in the u.s. session. in the asian session also we are talking about two consecutive back-to-back declines for oil prices since early april. that is to do with concerns about demand disruption given we have continued to see concerns about recession reflected in the treasury spa
Now. We have spent enormous amount of time with democrats and republicans talking about our infrastructure plan. Money in the budget. We have a plan that we are confident will work. The president money in the budg. Will announce it over the course of february. We do think infrastructure is important. Lets get some details. Give me some color. Is that something you would support . Gary we have three key principles. We are going to invest a trillion and a half dollars. The approval process is the most important aspect of our infrastructure plan. We have to shorten the approval process to under two years. We have to take care of overall communities. You get it passed before midterms . Gary we think we have a good chance. We have been meeting with republicans. It has to be a bipartisan plan. We have momentum. Everyone is excited. We know how important it is. It is going to affect every american citizen. It polls at 84 positive. Everyone is excited except for the treasury people. Jon the fi
Ross spoke to bloombergs Francine Lacqua over reports that he did not disclose a business relationship with Vladimir Putins soninlaw. It has to do with his ownership stake in a shipping company and its links to a Russian Energy company. Secretary ross there is improper either in the way we handled the investment itself. Francine when you keep the stake . Secretary ross probably not. I have been selling it anyway, but that is not because of this. Mark u. K. Labor party leader Jeremy Corbin wants offshore investigated including the holdings of queen elizabeth. Documents from a law firm show that the queen made a serious investments in a Cayman Islands fund. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. Julia live from bloomberg world that was in new york, im julie chatterley. Scarlet im scarlet fu. Joe im joe weisenthal. Julia stocks are rising, bonds are advancing, the dollar drifting from and