Rally has fed into crude. Propelled thates price. People look beyond the covid to a look beyond to a returned to normal. Gold pretty much stable appeared bitcoin at record highs. Up about two thirds of 1 . We have a u. S. Dollar index unchanged. Lets have a look at the copper price. Copper advancing. The highest price and a more than six years. It is under president elect joe bidens formal transition. The hope is there will be a move toward a Lower Carbon Energy future. That britain the outlook for its demand. As has what is going on in china up. Joining in all of that. Lets have a look at the transition in more detail as we get over to new york and join Karina Mitchell for the first word news. Introduced biden has his foreignpolicy and Security Experts as he seeks to calm relations with International Friends and foes. The president elect is promising a multilateral approach, reversing the America First tragedy of the Trump Administration. He will prioritize ending damaging executive o
Classes. Pricee the new york crude under pressure. We have this key meeting taking place of opec plus today and tomorrow. The gold price at the moment is showing weakness. Buy yourself finance. Bitcoin is erasing some of the 9 . Es by going up nearly lets look at the other first word news headlines. Lets join karina mitchell. Karina bloomberg has learned readingna the latest on chinas economy shows recovery is getting momentum. Manufacturing and services, pmi data both beat estimations. In aty performance came 52. 1. The economy is gaining strength despite sporadic epics of covid19. Bloomberg has learned chinese regulatory officials have said that the chances of jack mas stockoup revising its are looking slim. They are still reviewing changes needed to appease regulators. An additional delay would be a setback for ma. Has big dollars the fight to overturn his election will not reach the supreme court. He told fox it is hard to send a case there and he probably wont succeed. He rehashed
Policy speech. The city faces rising infection rates and a clamp from beijing. Joe biden names his Foreign Policy and Security Team as he with to calm Relations International friends and foes. He says america is back ready to lead. Haidi lets look at the set up at the start of trading. We are seeing some green shoots at the open, about. 4 higher. Global stocks as well as asian stocks continuing to be on a tear. We are watching keenly for developments in kiwi assets, given we had the rbc releasing its semiannual stability report. This is pushing the kiwi dollar higher. U. S. Ashed through . 70 yesterday and we are seeing expectations of negative rates dissipate even further. Unlovedtors rotate into areas, it may not mean the end of things that have been successful so far. John praveen is Portfolio Manager for qma. He joins us on the phone from new york. We are talking about what happens to big tech given the rotation trade gaining a more solid footing. Is it the behavioral changes, chan
Monopoly status in the most significant antitrust action against a u. S. Company in decades. Google says the government case is deeply flawed. Netflix plunges in late trade after losing subscribers. We get the outlook and expectations, and investors are not happy. Shery we are seeing u. S. Futures coming online slightly higher, by. 1 after u. S. Stocks rose in the regular session. It was a choppy one. We saw expectations of the next round of stimulus and House Speaker nancy pelosi now trying to negotiate that deal with the white house, investors watching that very closely. We saw the s p 500 index gain. 5 with 10 of 11 sectors rising in the new york sector. Nasdaq composite also gaining ground, despite we saw the Justice Department decision to sue google for allegedly abusing its power. All of this leading to the dollar sinking to a oneweek low, more optimism that perhaps a compromise stimulus is on the way. Look at oil at the moment, because we have seen oil slightly higher on this up
Nikkei, last 30 minutes of trade. Final stretch of the morning session paid south korea is being dragged down. Currency markets. Sterling, cable, eurodollar, aussie, the sing dollar. 136 following this weeks mas decision and policy response. Fairly flat. We could see more action later tonight and into next week, when you have the likes of chinese gdp numbers coming out. Gyrations on the political scene, i would imagine. Lets go to your first word news and get you updated on the virus situation in europe with the u. K. And france facing tough virus restrictions as global infections are heading towards 40 million. Households indoors going under overnight curfew as they have a new wave of covid19. Daily infections hitting record in germany, italy, ireland, and spain. Reporting the most new cases since april. President trump is ramping up rift with Senior Republicans, saying he supports a bigger stimulus package. He is blaming democrats for delaying an agreement, but says he goes further t