Equity futures a mixed open in asia. A flood of corporate debt sales before the fed decision. Oil surge adding to inflation worries as saudi arabia and russia extend output cuts through the end of the year. Lets get a quick check of u. S. Futures doing nothing right now. We are well into september, but it has been the Labor Day Weekend in the United States so we only had two trading sessions in september. To say session was basically the s p down for tens of 1 . Traditionally some timber not a great month for markets. It is the worst generally unless they have already rally between 10 and 20 . Given that we have rallied, may be able not be so bad this year. We will have to see. Mike wilson says 3900 is where we will end the year. There are bears out there. Nasdaq futures pointing lower. We had bonds seeing yields rally 15 basis points partially because 40 markets Companies Went to market and sold bonds, so a massive amount of issuance that would have depressed prices somewhat. We had a
Suffered multiple setbacks. A fire at its gigafactory in berlin halted production. Higher interest rates, which put up borrowing costs, are also taking a toll and it has an ageing line up of vehicles. But it is the Chinese Market that investors are most worried about. Dan ives from Wedbush Securities blamed rising Ev Competition and a lingering price war for the challenges that the Company Faces in that market. The gloomy outlook, well, its driven teslas stock down roughly 30 since the start of this year. Still one bright spot it looks poised to retake the title of largest ev maker in the world from chinese rival byd, which on monday said it had sold around 300,000 evs during the quarter. Here are some of them might have, tesla and other makers of Electric Vehicles the Senior Minister in the Indian Government in charge of Road Transport has said that the country will have no diesel or petrol vehicles in the future. But the minister didnt give any timeframe for this and vicious target n
Crown prince discussed ways from prevent the war from escalating as the you and a best of demands secretarygeneral resign for saying the october 7 attack did not happen in a vacuum. Microsoft jumping in late u. S. Trading after the cloud unit is worth picks up steam. Rival alphabet sinking as they are offering lags. Bank earnings continued rollout. Deutsche bank meeting estimates where they spent finish pumping santander some better than expected thirdquarter net income. We will speak exclusively to the cfo later this hour. I want to get a recap on the numbers which is important when we look at Deutsche Bank. We are seeing estimates and they are kind of being met but you are not seeing much outperformance. This is stark contrast to what you saw with unicredit but thirdquarter net revenue is 7. 1 3 billion in the estimate was 7. 1 one billion. Pretax profit is 1. 7 billion euros. The estimate was 1. 6 billion. There 2023 Net Litigation charges are exceeding their 2022 levels as well. I
The anticipation builds for what we could see from the poster child of Artificial Intelligence is really high. Ahead of all that, what we have for markets is the digestion of a bit of the fed speak. We are seeing Japanese Equities underperforming because we did get some trade data. It shows the trade deficit in the country and shows how the week yen is weighing on the value of imports, perhaps, perhaps obligating things further. The bank of taiwan is outperforming, but its really about nvidia, which tracks the question, the extent in which we see in earnings upward supplies, if this will impact the broader market. We heard from Morgan Stanleys chief u. S. Equity strategist weighing in on this. Take a listen. Ai is everywhere except in the numbers. Nvidia has been the big winner so far. There have not been another a lot of big winners. A lot of spending going on, but it has not trickled down in a way that is rising the whole tide. Theres a lot of ai dollars out there, and they are being
You are watching daybreak asia live from new york, sydney and hong kong. Counting down to asias major market opens. Australia is online, the top stories. Relief after a retreat in treasury yields following a volatile session. Bearish bond views. Hamas frees two hostages and chevron vies hess in the second Major Oil Deal in a few weeks. Annabelle thank you, weve got the open of the asx 200. Pricing with a staggered start. What is happening in the bond space is where we have noticeable moves and sherry can get through the details but there was a pullback in yields coming across in the three and 10 year as we get trading underway. Whether we see relief coming through for equities and a softer dollar, we are seeing the a sx coming online fairly flat as we get underway but if it trades in the green that would snap three days of losses for the australian benchmark. Something to be monitoring. Ubs saying we can expect more volatility because the relationship between bonds, rates, the fed is b