Anna welcome to countdown. Im anna edwards. Ryan im ryan chilcote. Anna at 6 00 lets have a look at the tech sector. Lets start with apple, because i have a chart here that shows the afterhours move we saw this was even after the Company Reported a record thirdquarter profit number. Revenues were disappointing. Ryan this threatens to remove again that apple saw that huge rally of almost 10 . It could be one of the biggest losses ever. Anna more generally, this was the biggest tech rally since october. Will that change in the session today . We have lots to talk about. Apple was just one of a few tech giants that reported in yesterdays session. That came afterhours. Lets get Caroline Hyde and paul sweeney. Great pleasure to have you. Lets continue the conversation with apple and what it is. Caroline its phenomenal when you put it in perspective we could see 66 billion dollars worth of its market cap erased. In perspective, that is more than bmws entire market cap. It is a record thirdqu
Equity markets are higher and higher. The fed and the boj coming through. How do we phrase this . Where we go from here . Dust of the few minutes ago we were talking about how the boe and the bank of canada raising rates in the fourth quarter. Requiring it to throw the conversation for next year. Have a look at this chart, the question really is how much can the likes of the boe and the bank of canada, given how strong their currencies have become, continue to follow the fed on its current rate policy . At what point does a policy notngthen, and become inflationary . Charts, whatat the it shows you is financial conditions in the United States in the bottom part. They are still fairly loose, and what that means is that despite the fact that you have a weak u. S. Dollar and currencies like the pound trading at fairly strong levels, it is not yet creating conditions where you would actually see disinflation coming through. In other words, there is scope for a lot of these big Central Bank
Estimates in macau. Will this be another golden week for operators . Betty a lot of investors making their bets as well the u. S. Markets will continue higher. We saw that today. Might see this chart. I want to pull up g btv 1516, which shows you the Credit Suisse stop hedging index, otherwise known as the fear gauge. The lowest since february. Imagine that. This might geopolitical tensions coming upise what is from the headlines on tax reform, it looks like investors are pretty optimistic about the markets. They are not fearful at all, and you see the msci all country world index continuing to push higher. You saw that in the equity markets after the manufacturing numbers came out better than expected. Let us pull up the boards on that. Another record, up. 4 . The dow adding on 152 points. The nasdaq gaining ground,. 3 . No stopping this bull market, yvonne. Case. seems like the the big question is whether investors are pricing in more about reflation and the trump trade on tax reform
Past 9 00 a. M. , we are an hour away from the open of asias first major market and the start of a new trading week. It is just past 6 00 in new york. Weekend for Central Bank Policy makers the world. I spent the last three or four days in new york. It is kind of like a monetary rock festival. The final act, the g 30 this weeing in new york, the hours in hong kong. We had janet yellen, kuroda, it was amazing. Yes, sort of like coachella for nerds. It is interesting. This kind of mantra of saying we are going to get tightening and we are on track, and yellen and draghi are saying inflation will pick up next year. Have we all been underestimating it . There you go. We will get into this quite a bit through the show, and including the inflation number , a little bit of a sour note but ignored for now. Trying to say quickly, stocks close higher across the border, across the board, bonds rallied after the cpi came in weaker. You can see s p up two points, the dow up about 1 10, the nasdaq g
But short on spending. And we have the world covered on daybreak asia and we will go to solvi seoul. It is budget day in australia, just hours away from the revelation of details. We are going to head to sydney for the latest. This is bloomberg daybreak asia, coming to you. Im betty liu in new york, where it is after 7 00 p. M. Yvonne it is just after 7 00 a. M. In hong kong. It seems like politics are going to be dominating the market. Not the typical d. C. News flow to get out of the Trump Administration, but south korea voters, 52 million of them heading to the polls today, and budget day down under. Betty as we have noted, it looks like korean stocks seem to have priced in the volatility in those elections. They are just going higher. Markets are actually quite attractive in south korea. Topics is going to be the aaa rating, and what the budget details on whether that rating is in fact going to be jeopardized, or is all that talk just much ado about nothing . Meanwhile, stocks in t