In the last 10 days. The u. S. And china trade new barbs. Washington rejects chinas claim to the South China Sea. Top u. S. Senators are facing mainland sanctions. Haidi u. S. China sentiments dominating again with the grim overlay of rolling back restrictions around the world. This is how we are shaping up when it comes to u. S. Futures contracts, up by. 2 after what was a truly volatile session. We had the s p 500 touching levels prepandemic and we also have the nasdaq hitting a fresh record before finishing in the red and we spoke about tesla being a huge part of that tech eventual close lower. Nikkei futures up by. 2 percent. Sydney futures escalating in the red, point 8 lower, looking like a set up of. 5 lower, this as we are expecting an announcement today that the fed of New South Wales will ease back those restrictions when it comes to indoor gatherings at pubs after cases coming from the pubs. It is now over 20. New zealand trading modestly higher, about. 25 . Some significant
Suggest a post virus recovery. Highest andsides smart and Mark Zuckerberg toends the response controversial president ial tweets but his unstaffed is not agree. But his own staff does not agree. To shrug offng tensions on the streets, curfews being applied in major cities. We are seeing asia heading into the wednesday session looking likely to extend the basking in the globe we saw overnight. We have nikkei futures in australia as well as in hong kong, all pointing to a positive start to trade. The dollar fell overnight, the yen also slunk leading to some positivity out of trading. The rckiwi pair trading at its highest since october, really an indication as we see these outperform, investors feeling risk on despite gdp numbers that could show the first technical recession we are headed into in about 30 years. Pretty flattrading after seven consecutive days of gains. Americans are bracing for another night of unrest. Cities have extended their curfews. Trumpile, president feeling embat
Trade after huge gains yesterday. Lets get your top headlines today. The grand reopening. Italy removes most restrictions on life after months of coronavirus lockdown. International visitors will not be subject to quarantine. European futures gain across the merkelespite a delay in s stimulus plan. Lufthansa commits to a deep Restructuring Plan after seeing a firstquarter net loss of more than 2 billion. Plus, thousands deny curfews in the United States but clashes with police are limited. The pentagon sent activeduty army units into d. C. , calling it a planning measure. Just under an hour away from the cash trading in europe. Any of those negative headlines dont look set to deter this rally. We are looking at big gains in futures. The futures up 1. 5 after germany future index put up a points more than 430 yesterday, powering about 12,000, looking set to open very risk on. Today you can see ftse futures up more than 1 . U. S. Futures are gaining as well. Dow jones futures are up more
Yesterday, where you saw Peaceful Protesters essentially pushed out of the way by police using tear gas and stun grenades, and there has also been, by the way, a significant targeting of journalists by the police in the United States in these protests, as well, you should say, as some looting. Yvonne that is right. Close to two weeks of this now, and when it comes to the markets, they continue to avoid or shrug off the risk the rcn, whether it is the u. S. Protests or the geopolitical issues. Another day of gains in the asia pacific, up the past seven of eight trading days. Now, there are signs of overheating, the asian stocks the most expensive in 10 years, and just watching the msc i, one point now, jakarta just coming online watching the msci, 1. 3 now, and we are bracing for a cyclone to hit mumbai. It could be the biggest storm in a decade, and flights are canceled. And you may remember that we dropped to Single Digits in april. Taking a look at currencies, it was not much, a doll
Also, the Capital Management founder as well. We still waiting for world bank headlines, which i dont think in the meantime we are working it out. We are chatty, trying to figure this out with the delay. We will bring you them as they cross. Now we want to bring in michael spence. Spence, it is a pleasure to have you here. You have written quite extensively over recent weeks about what covid and the recovery of the pandemic looks like. Now in the u. S. , streets are literally burning how do these to reconcile themselves as they we try to recover . It certainly wont help on two counts it wont help with economic recovery, and secondly, although i am no scientist or epidemiologist, a number of them are saying we could, as a result of the very large demonstrations, have an additional outbreak which would require policy action to contain that, and that, in turn, would have an adverse effect on economic recovery. That is not the main event of these protests, obviously, but the side effect mi