A glitchy start. Microsofts Online Game Service is hit by an outage on the same day it introduces its newest xbox gaming console. We talked to the head of xbox this hour. U. S. Stocks dropping amid a selloff in big tech tuesday. Amazon among those caught up in it, falling as the ecommerce giant facing an antitrust complaint from the eu. I want to get to Abigail Doolittle in new york. Walk us through the factors dragging stocks down today. Abigail another mixed today. Another down day for tech and the nasdaq 100 in particular, having its worst two days in two months. You have other index is doing well such as the russell 2000 and other cyclically minded sectors. Nasdaq down for the second day in a row, the worst slide since september 8. Investors want out of this years stayathome trade. The russell 2000 gaining an alltime high as investors charging forward into the reopening trade. We have seen this playbook so many times this year, inout, inout. As for what was dragging on technology,
Against a u. S. Company in decades. Google says the government case is deeply flawed. Late tradenges in after missing on subscribers last quarter. Its outlook for the current period is below expectations and investors are not happy. Haidi we are just getting a little bit more of an update on these ongoing stimulus discussions in washington, d. C. Nancy pelosi saying she is optimistic a deal can be done before the election and that she is calling on Committee Chairs to resolve some of the differences when it comes to funding levels and language so they can get back to negotiations between her and secretary mnuchin as soon as possible, crucially saying she remains hopeful an agreement will be safer, bigger, and better, and will be retroactive as well. We are seeing that reaction when it comes to the futures markets. Lets look at the asian trading day. Sophie kamaruddin is here with us in hong kong. Seeing s pare eminis gain ground and a muted start in asia with the asx 200 coming online
Further. We are joined this hour by finance minister. The other big story today, lawmakers in washington take aim at the power of big tech. Saystitrust investigation they are abusing their dominant status. Australia coming online. Lets turn to Sophie Kamaruddin in hong kong with a checkup on markets. A two day rise, we are seeing pressure come through for the benchmark while the aussie dollar is testing that 71 popl after forming a double early this october. We are seeing action in the bond space. The front end of the aussie curb slipping with the three year yield falling as much as four basis points earlier in the session. This after australias updated debt issuance coming in less than expected. I want to highlight bhp shares. We are seeing the stock fall as much as 2. 3 this morning. Tesla bhp in focus be at flipping the board to check in on futures, s p eminis under pressure. The yen trading study but theres upward pressure on the stimulus deadlock. We are watching iphone makers aft
Does october start most interesting. As you well know, the president of the United States at walter reed hospital. He has been tweeting actively this morning, almost as much as jon ferro. In the markets, i would say weve got a bit of a celebration. Futures up 21, dow futures up 184. What do you make of the markets this morning . Jonathan a strong correlation between the president s health, his tweeting activity, and equity markets. We hope we avoided the local crisis, the chaos that many people were thinking about last friday. Up 0. 6 on the s p. In the bond market, this is where things get interesting for treasuries headed into election day. If the polling remains the way the polling looks right now, at a national level, the 14 point lead joe biden at the moment, at some point you do start to think about prices in the fiscal stuff. The key risk at the moment, i am catching up with Henry Peabody a little later tom on one of your other properties. Jonathan his view is that the risk the
Comes to the treasury market. The dollar taking it on the chin. Safe haven bid for the yen. Out yettting taken again after yesterdays slide, dragging Energy Equities with that uncertainty rains in the commodity. President trumps positive covid test and what is going on behind the scenes not the white house. Joining us is mario parker, Bloomberg White house reporter. What do we know at this moment . Mario everything is kind of unclear, given that the white house was taken by surprise with the president and first lady testing positive last night. We are starting to get some inckle sin some trickles in terms of who has negative results. We know that Jared Kushner and ivanka trump, two of the aides,nts other closest have negative tests, as well as his son barron. Right now we know that theres negative tests that have come in. We are not sure just yet how many other white house staff will be quarantined. Guy thank you very much, indeed. How on earth was the white house cut by surprise by th