To decision by ab inbev do can its ipo has major implications for the hong kong market. Shery lets look at how markets closed, another day of record highs with the s p 500 closing above 3000 and the dow reaching 27,332. We had tech and industrials leading the gains. Energy stocks gaining ground as crude rallies on potential impact from Tropical Storm barry in the gulf of mexico. Seeing the nasdaq up. 6 , u. S. Futures not doing much. We saw data last week showing u. S. Producer prices gaining more than expected. Still u. S. Stocks managed to rent at a record high to end at a record high. We have japan away on holiday. Sophie looking at asian futures, they are looking mostly higher but sydney looking to open lower at the start of cash trade. Japan is offline, busy start to the week. We have chinese gdp and a bunch of activity data from the mainland. Stock markets flashing Warning Signals on the china composite with the worst week in two months on friday. We will gauge reaction to the ne
Evasion. Big numbers and equally big questions. Critics say the recordbreaking da vinci is too good to be true. Yvonne just when we thought we got over this big hurdle on tax reform in the house, clouds looming in the Trump Administration when it comes to russia. A wall street journal report just breaking special counsel Robert Muellers team last month had issued a subpoena to president Trumps Campaign requesting some of these russia related documents. We are seeing some moves in the market on the news. Betty we are. The subpoena did not compel any officials to testify before a grand jury, but it caught the campaign by surprise, and also noted that bob muellers team is expected to interview current and former white house officials, including the Communications Director hope hicks. There is certainly more to come in this story. Some of the away bullish headlines from the u. S. About tax reform. In the meantime, lets get more on that with first word news with courtney collins. Reporter t
Aside at googles parent alphabet. Period of17 year long his Senior Leadership. Betty it seems like everybody is trying to ram and all the news before the christmas holidays. Catalonia, google, and of course the spending bill passing the house. All of that and stocks today rose, breaking the today losing streak. We will quickly pull up the boards and show you how the u. S. Markets ended today. The s p 500 slightly higher, and nasdaq also trading a little bit to the upside, but fairly unchanged. Investors trying to absorb what the impact is going to be from the tax reform package. Yvonne yes, just a moderate bounceback. We see some positives as we get closer to the christmas holiday. Lets look at asia, said to track the gains set to track the gains we saw on wall street. New zealand up. And we are Holding Steady. Australia, getting underway in sydney. 6100, it could be a big we will see if it reaches that level. 7702 for the aussie. Treasuries mixed overnight, the curve sharply flatter.
This is Bloomberg Markets asia. Lets have a look at whats been going on. There has been a steeping of the yield curve going on, more flattening taking place. What we have is perhaps an economic slowdown in prospect. Lets have a look at this chart. It goes back to 1986 and it tracks whats going on in the white line into the two to 10 year yield spread. That is indicated by this axis here. Just over 60 basis points between the two of them. The green line is where gdp is. This is inverted. You can the lowest number of growth here, 4 contraction. What happens next is that the yield curve perhaps sees more flattening. We see growth has been improving of late. What happens in the future . We have a strong correlation between the two of them. One of the head scratchers in terms of what we been looking at this year. We had off to christmas break and volatility has been settling going lower, that if we can hold on to the moment in what we are seeing for this rally, we are going to see the asiap
Blockchain is shaking things up at oldschool giants. Inis now creating new life the stalwarts like ibm and oracle. Betty david, bitcoin was up, apple down, right . You saw some of that in asia yesterday, the apple suppliers getting hit on speculation about the numbers coming in far short of forecasts, in fact to 10 million shorter than what some analysts had predicted. I want to pull up a chart that you are familiar with. This is a 254. It shows you the Revenue Breakdown 8254. It shows you the Revenue Breakdown by segment and shows you how important the iphone revenue is to apple, but that decline we have seen a bit worrisome. This replenishment cycle really going to turn out to be the way apple believes it will be with the iphone x come or is 1000 the breaking point . David that is a lot of money for a handset. Betty yeah. David you look at these numbers and forecasts, you mentioned 10 million short. Coming out, may be shipping 35 million handsets in the First Quarter, still a big num