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
Last we checked. Markets are coming online at lake jakarta in the last hour. Taiwan, down one and a half percent. 19,000 on the hang seng index. It jakarta coming online as well and there is a lot to get through, everything from china, weakness across asia fx, 30 year bond option looking ahead to. The inflation print of the United States. What are you watching . Yvonne you talked about u. S. Inflation. It is interesting to see yields are lower on the back of yield options. Many were thinking this would be a selling week. It goes to show there is demand and it is looking solid overall. What fixed downgrade . It seems investors are overlooking that so even if we see in inflation overshooting if it is marginal maybe it wont change anything in terms of the bond rally. China is another discussion. Inflation, what does it mean for the world economy. Theyre going to be front and center to really engage where the consumer is. Rishaad growth in commerce revenue and we had four consecutive decli
Lets talk about the markets. We are up about 8 . Stocks falling back to 64, spot 24 is where we are trading right now. What is driving that . Luxuries. I would argue china is one of the biggest effects on what is happening in europe today. Maybe more so than what is happening as a result of the cpr cpi we saw. Lvmh is up by 3. 5 . China is going to allow tour groups once again to visit the u. K. For, france, italy, you name it. As a result, luxury stocks will benefit. That is a big pickup. You can see the benefit in the stock it the engineering giant, there are issues with the digital business, but china is another factor. China boosting lvmh, china hitting siemens. You can see the share price reaction and both of those stories. China as ever continues to be a large factor for your. Lvmh is up and siemens is down by five. That is what we experience. Manufacturing versus services. You go buy a bag. You dont spend money on manufacturing. S p is up by. 7 . We are fading the rally. We are
Kingdom. And ahead, the future for the Company Formerly known as twitter. We will sit down with x corp ceo coming up in the next hour these are numbers that you want to see if youre bull earlier this week there were a number of articles about how we overbuilt apartments and theyre about to come on if thats the last sicking point, the fed cant dough claire victory i think they should do one more just because you want to be sure that the vampire doesnt rise up but this is going jays way. Its not a soft landing or hard landing, its a glide. And the dichotomy, i think that theyre fanciful and speaking more fiction than fact it will be welcome news to those who are long, for example, fang or what we like to call the magnificent seven. Were down, what, 4 and theres negative news out there for nvidia someone saying they cant deliver all the chips. Youre not allowed to say true or false it is not a great move for fang. I do think the trade desk made me feel much better last night for alphabet.
Investment in chinese technology. Later on, renting in manhattan just got a lot more expensive. Its thursday, august 10th, 2023 you are watch wiing Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im dominic chu in for Frank Holland this morning lets kickoff the morning with the down day for the stock market s p is implied higher 24 points. Dow jones industrial average is 17 177. Investors are geeg gearing up for the latest read at 8 30 a. M. For consumer prices. The estimates right now are for 3. 3 gain year over year after the 3 gain for the july cpi checking on the bond market with the cpi print. Benchmark yields are rising. 10year treasury is 4. 018 2year treasury at 4. 811 . In energy, energy could be a key driver of the inflation story this time around you see wti crude at 84. 65. That is up. 30 . Ice brent crude futures at 87. 85 nat gas prices which were on a tear yesterday, is flat today. Time for the mornings big money mover. That is disney Silvana