At least thats happening on the dow and s p. The nasdaq still off the most and near the lowest of the session. Thats a theme we have been seeing. We are taking a look at the fiveday s p 500, where we have big selloff and then you start to recover is the day gets over. Looking to see if we can repeat that pattern again, the nervousness of the investors in the morning off of the headlines overnight and then perhaps trying to recoup some of those losses as we take a deep breath throughout the rest of the day. Some of the selloff we are seeing is happening across asset classes, particularly were looking at the bloomberg Commodity Index and oil is trading below 56 a barrel. With the bloomberg Commodity Index, its off 1. 3 , having its worst today since may, when it was off about 1. 8 . Now looking at the lowest since october 27. At 85. 87. Was looking at the commodity today. Wrapping up, i want to check in on some of the nervousness of investors that we have been , ining a little bit about
David it has been quite a week. I know we will be talking about the japan data in a moment. , ae a look at my chart simple look at Household Spending in china. Year on year change, a longerterm look because this tends to be a volatile number. What you are seeing is more red than green. In other words, we talk about a demographic problem in japan. Despite what they are doing, there is an underlying current that prevents this from spiking backup. This bike is the frontloading before the sales tax. Here is your base effect. Are come up for the First Time Since 2016, not bad. Full and slowly is the best way to describe this. Haidi it still feels like they are trying to shake off that sales tax implementation. The takeaway is it does not move the needle when it comes to boj policy, still nowhere near that 2 inflation market, getting further and further away from that. We will unpack that data and policy implications. In the meantime, what a roller coaster ride in the u. S. Session , the dec
In hong kong it is just past 8 00 a. M. The am julie hyman and political stories continue apace in the United States where the ands today was on mexico that cancellation of a meeting with donald trump and theresa may coming over as well on earning season in the u. S. A lot for investors. Yvonne absolutely. Picture on wall street, it is mixed. Relatively leading into asia, we are seeing positive asian stocks. Positive move in asia ahead of the holiday. We do have the nikkei 225 opening higher. Extending the gains that we saw on thursday when it was higher over 1 . Trading could be choppy given the stronger dollar and the mixed picture on wall street. Tensions between the u. S. And mexico over the border wall and markets in china, south korea, vietnam closed today along with partial trade in Hong Kong Hong kong, singapore. We have stocks in wellington snapping a two day rise. Australia adding. 5 after coming back from a thursday holiday. We do have miners dragging today on the index. The
Headquarters in hong kong. Happy friday. Lets go straight to markets. Koreaut. 1 , lets go to to the kospi. Hours, we sawthe it showed little bit of an upside. Up about. 1 . And of course, japan, we got a data dump in the last hour. We will talk about that in just a couple moments. Stocks heading south here at the start of the open. About. 5 toyen 104. 8. So lets head back to japan now. It disappointing data. They broke those figures for us. There is speculation about what this really means. They knew what they were going to do this afternoons o the intensity of scrutiny builds over as you get close to releasing that policy message. Its a mixed bag but there are some bright spots. Headline inflation number dropping for a fourth consecutive month really showing how far japanese price pressures have to go before hitting the 2 target that has been set by the bank of japan. Consumer prices including fresh food, it fell. 5 from a year earlier. Decline. Oking for a if you strip out energy, i
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