Delivery of 7 . Look how we are in terms of the major indexes. Asian markets, most in losses tracking to 3 drop on wall street overnight. Opened slightly earlier love earlier. Slightly lower earlier. We are watching petrochina down at this point in time. The hang seng, down about 1 . Kong announced an expansion of its restrictions aimed at curbing the spread of covid19. That would weigh on the economy even more. The sti, down more than 3 . This is a market that returned to bull territory recently and citi said investors are pricing in post recovery. Singapore reports higher cases, more than 1000 for the second day running. I want to dial back to the oil story because we see oil moving to the upside after two days of unprecedented action and a spectacular selloff. Opecplus ministers holding an unscheduled conference to discuss what has been going on. The closing statement signals there are no new measures planned at the moment. Lets bring in mliv asia editor. Oil is on the up. We had tw
The week. Opec and its allies will meet thursday to discuss a new plan. The virus has farreaching implications for businesses. A new study says global trade may be cut by one third, more than what was seen during the financial crisis. Shery lets get you started with a quick check of how markets ended in the u. S. We are seeing u. S. Stocks again pushing into bullish territory after failing to do so in the last session. U. S. Stocks now gaining more than 20 over the march 23 low. Every sector in the s p 500 was in the gleam green, led higher by Energy Stocks. Dow gained more than 3 . U. S. Futures unchanged. Nasdaq gained 2. 6 in the regular session. Take a look at what oil is doing, because we saw it rebound from the weakest level since the start of the month. It spiked a few minutes before the close, after the opec plus meeting will discuss and output cut of 10 Million Barrels per day. At the moment continuing to add to the gains, up 4. 6 . Just breaking on the bloomberg, a saudi arab
Markets in the weeks ahead. Still pumping more oil into the market from saudi arabia. It comes to the coronavirus story that continues to dominate, President Trump says the u. S. Should be prepared for a painful couple of weeks. Infection rates continue to rise in the u. S. We are hopefully seeing some stabilization in countries like spain and italy. Overall, the global infection rate has passed 800,000. Yvonne. Avon the ecb scrapping european banks. Thats what is weighing on the hang seng. Earnings coming through, really a key indicator in the next couple of weeks. Autos reacting negatively. Down six. 5 . The pboc should impact further cash injections and local authorities should issue more infrastructure bonds. Supporting the economy amid the worsening coronavirus pandemic. Selina wang joining us now from beijing. How significant is this . How should we read into that yvonne that . Selina those pmi numbers coming in better than expected. Back into expansionary territory. Compared to
The focus has been on what is happening in washington. It was fascinating to see the fade on equities today. European equities are off session lows. We faded pretty precipitously earlier on. The pound is also off its earlier session highs and has certainly faded the early move. A similar story in brent as well. The initial burst of enthusiasm around that deal starting to ease back a little bit. The real question, this is just dealing with the here and now. Are we going to need further help from washington and other governments around the world to get the bounceback that may some people are looking for . Vonnie just getting a headline now that german lawmakers have approved a 156 billion euro stimulus. A few things happening in europe as well. Back to washington, the white house and senators have finally come together in an effort to bolster the economy. Senate Majority Leader Mitch Mcconnell spoke earlier on the senate floor. Sen. Mcconnell at last, we have a deal. After days of intens
The Vice President is the governments point person. Plus, is jack dorseys job on the line . An activist investor with a sizable stake in twitter is pushing for changes. First, some ominous news in the u. S. More deaths here stateside. Despite that, the market is going green. Cindy . Es it look like it in sydney. Paul it going pretty well. Markets reacting on promises of support from Central Banks. A strong rally, higher by 3. 5 . Futures pointing higher, better than 1 as well. Alsoi futures and kospi stronger. The yen has weakened. The boj will do what it can to support markets. The aussie dollar still has a 65 handle. It is reserve bank of australia decision day and the consensus now is that the rba is likely to cut the cash rate to half of 1 . Lets take a closer look at what happened here. Stocks surging. Ending up over 4 with investors hoping that Central Banks will be coming to the rescue. For more, we are joined by Abigail Doolittle in new york. What is driving the optimism . Abig