Daybreak australia. Im paul allen in sydney. Im annabel ruelas in hong kong. Were counting down to asias major market opens. Good evening from bloombergs World Headquarters in new york. Im ryan. The top stories this hour, us stocks slide into the close on bets an improving economy will keep rates higher for longer. Dollar strength sinking apac currencies to this years lows. China said to mull cutting stamp duty on stock trades as defensive reaction to a surprise rate cut shows president xi facing more tough choices. Plus, decision day for the reserve bank of new zealand with cooler inflation and higher unemployment supporting another hold. Us futures coming online in the Asian Session, were seeing a little bit of a muted picture after stocks fell in new york. We have the drop deepening in the final hour of trading. Investors really trying to digest those stronger than expected retail sales and also more hawkish fed speak. We had financials being weighed down. A warning from fitch that
Plus, well talk the state of electric vehicles as ev maker vinfast goes public via spac. We speak to the ceo about the deal and studio giants offer a new deal to striking writers in hollywood. Well bring you the latest reporting on that matter. But first, we dig into these markets. We look at here in the us, strong Economic Data over in china, a slowing picture, and we try and marry it all together as well as whats happening in the uk. From a macro perspective perspective, the numbers are so strong here in the us. When you look at retail sales rising, more than expected, what does that mean for a Federal Reserve that has to keep on perhaps pushing back against a very Strong Economy . Were off by half a percentage point. The nasdaq gets hit. In fact, all the major benchmarks here in the United States. On the lower side. Interestingly, though, were buying the dip when it comes to bonds. Weve seen, of course, the yields push higher over the last few days. Notable when were thinking about
And u. S. Steel rejecting 7. 25 million from cleveland. Most stocks actually higher. We are going to speak to the chairman and ceo later on in the show. From new york, im alix steel with guy johnson. Welcome to Bloomberg Markets. You look at the markets, the story is the dollar. The dollar index. Guy the question im asking today, if you were sitting on a beach somewhere enjoying yourself, what are you missing . Many would argue not much. But under the circumstances, there are some really big trends developing here. You talk about the real yield. I think that is a huge story. Should be hugely negative for stocks in the u. S. Economy. Plus this china story, for how long . Alix how seriously can you take any of these issues right now . A lot of people are going to wind up on the beach. The equity market is literally going nowhere. But i do wonder to the real yield question, if that is a strong dollar story, that will have repercussions elsewhere. Guy and you come back off your holiday, of
Good morning. Welcome to daybreak australia. We are counting down to asias major market opens. Im kathleen hays. The top stories this hour, markets struggling for motivation even as a Team Inflation report builds the case for a fed rate skip. A renewed jump in treasury yields, weighing on sentiment after a week 30 year bond auction. Alibaba returns to Revenue Growth across all major divisions defined chinas economic worries. But theres nothing new on the plant slip. And chinas market regulator will meet developers and financiers friday seeking solutions to a worsening property crisis. Lets take a quick check on what happened on wall street today. Stocks started on a fairly decent rally. The s p 500 was up more than one person at one point after the july cpi report weight suggest that inflation is going back to its twoyear ago level, something the fed could pause, when it comes to rate hikes. But later mary daly said the fed still has work to do, so stocks lost a lot of gain. The s p ba
Welcome to daybreak asia. We are coming down to ages major market opens. Haidi the top stories this hour. The market searching for motivation as a tame u. S. Inflation report the case for a fed rate skip. A weak 30 year option. Alibaba returns to Revenue Growth across all major divisions define chinas define chinas economic woes. Bloomberg learns chinas market regulators will meet developers and financiers on friday seeking solutions to a worsening property crisis. Kathleen we are waiting for the Rate Decision from the banco ce ntral peru central bank. Expected to hold again even though inflation is falling. They did holder key rate at seven and recorders percent exactly as expected. We are going to be looking for messaging because Goldman Sachs had predicted they might cut their key rate today because inflation has had a nice downward trend lately. If not today they will do it at their next meeting. That is the latest from latin america. We will be waiting for any Additional Informati