Companies listed in new york. Tiktok remains a major stumbling block. Uber delivers, but not where we might have expected. Food shipments top ridehailing for the first time as the decade of unchecked growth hits the brakes. Haidi lets kick it off with a check of the markets. U. S. Stocks are surging, pushing higher as hopes of a stimulus to deal in congress will be imminent as President Trump says if nodeal is forthcoming, he could take action himself. The are seeing s p futures looking flat at the moment after the s p 500 pushed its fifth straight positive session overnight. Chicago nikkei futures also pretty flat at the moment ahead of the holidays kicking off next week so as you expect, we are seeing traders shifting their holdings and also assessing a flood of earnings. The aussie dollar holding that threeday again before the rba Quarterly Monetary Policy forecast. That report due out this hour. 72. 33. We heard from phil evans in the previous hour saying he sees putting clear road
Halston, 12. 5 . San miguel withdrew its tender officer for the company as the timeline ran out. Ayala down. 31 . The overall composite half a percent higher. Lets move things along and get to new york and look at some of the first word news. Global Coronavirus Infections continue to rise and now top 4 million with jess at about 280,000. The u. S. Has by far the most cases and fatalities with 1. 3 Million People infected and almost 79,000 having died. The virus was first reported in china and beijing has confirmed about 83,000 cases with just over 4600 fatalities. Saudi arabia says it is planning to cut spending and triple vat to 15 as it looks to offset the impact of the virus. The finance minister says the pandemic combined with Falling Oil Prices has cut revenue input and president and pressure on the public purse. The kingdom reported its biggest surge of new cases sunday, rising to almost 39,000 confirmed infections. To apply more powerful stimulus. The pboc were released a quarte
Boris johnson announces the first step to easing its lockdown. Donald trump combats an outbreak in the white house as he tries to return to work. Vice president mike pence spends the weekend in selfisolation. The European Commission threatens to sue germany. Therong rebuke over Constitutional Courts ruling on ecb bond purchasing. This is the picture weve got. Welcome to mondays program. Of futures, euro stoxx 50 futures up by 0. 4 . Ftse futures upice 0. 7 . Up by 0. 7 . We have seen the nikkei doing quite well. The hang seng doing quite well. Less well in the chinese market, but broadly speaking, positive. In response to a lot of talk about stimulus, we have had talk from the pboc and china, policy coming through in india. Lots to think about in asia. Also thinking about the european context. We will look to where all of that conversation goes. That expectation of fiscal policy doesnt seem to be underscoring the positive move in equities. Reopening gradually, very gradually. Economies
Damage. China near a takeover of the airline hna, saying it wants to stem the economic fallout from the coronavirus. Cruise passengers return. The first batch of hong kong residents from the diamond princess are due back in the city today, but there is lingering confusion about their arrival. U. S. Attorney general william barr tries to invoke an old law that protected tech companies. Ike google and Facebook Paul nothing has been happening released since you have been gone. Lets check in on futures in asia today. New zealand already trading at the moment. X higher by a quarter of 1 . 1 in by 1 5 of australia. 771 millioned profits. Pretty flat. Qantas seeing an impact from coronavirus. Few catalysts to watch out for. Aussie jobs expected to rise a little and china expected to cut its loan prime rate. We have machine tool orders out of japan as well. Emily i want to look at where u. S. Markets closed today. Lets get to bloombergs taylor riggs in san francisco. Taylor risk on across the
Argentinas debt levels are unsustainable. This is after the review we had been expecting. We will dig a little deeper into any and try to let you know impact from that decision. Lets dive a little deeper into the action with our markets reporters from equities want. Watching . Hat are you abigail i have volatility on the mind. The vix maybe receiving the panic index. The skew index is an interesting to. It could be hedging against a big move higher for stocks or could be an early look at volatility. In 2018 in the summer when the vix was smooth was snoozing, that is shown in yellow. Part over the last year, both the vix and the skew index down. We see the skew index going back to levels seen in 2018. That is ahead of the pullback we had last month around the coronavirus tragedy. Take a look at this. We have a big divergence between the skew index and the vix. Something worth keeping in mind. Taylor i wanted to take a look at the stocks index. It has been outperforming the general marke