Honor to cross the line. And goodbye g20 and time for summer davos. We are live at the World Economic forum at this hour. Shery lets get you started with a quick check of the markets. U. S. Futures rallying about 1 at the moment, this, after the s p 500 saw its best month since january. We have optimism over potential easing trade tensions between china and the u. S. , not to mention the huge photo op President Trump got at the dmz meeting with kim jongun. Take a look at asian futures. We are continuing to see a risk on moves ahead of trading. If we can switch up the boards, futures, nikkei futures up 1. 5 as we get the japanese yen weakening for a fourth consecutive session. Great asets not doing we get risk on sentiment. As korea starts trading on socalled peace dogs as we saw that unprecedented meeting at the dmz. Hyundai engineering and other stocks like korea gas and so forth. Also keep an eye on chipmakers, especially samsung, as we saw President Trump giving some relief to huawe
How facebook is fighting fake facebook, facebook on paying tribute to game of thrones as they do that. Fixates on trade tensions between china and the united states, another dispute is weighing heavily on chipmakers. Slappedk, japan restrictions on exports heading to south korea. Samsung, south koreas largest company, slid nearly 3 . Another company dropped 1. 5 . Together, the two Companies Account for 60 of the worlds memory chip capacity. Upsetting supply chain for iphones tofrom laptops. Why is this happening now . This is something that goes back over 100 years, you could argue, with japans invasion and colonization of korea. Korea argues, you never apologized. The japanese side says, yes we did. This appears to have bubbled up. Emily could it have anything to do with President Trump and him taking a similar tact in dealing with china . Ian that is the argument, that the japanese side, for domestic political reasons, they are saying, weve had enough of this. This is something that
200 points after the jobs report ended the day down just 40 points. Meantime the yield on the tenyear yield jump back above 2 President Trump blasting the fed when speaking to reporters earlier today. Were paying a lot of interest and it is unnecessary, but we dont have a fed that knows what theyre doing so it is one of those little things. But if we had a fed that would lower rates, you would have a rocket ship. So what is the market saying now about what it expects for a potential rate cut this month . Didnt bullard and powell dress down the window for a rate cut last week, or at least going from 50 to 25 basis points i think powell should dress down the window i dont think he should cut. At all . The market thinks he should cut but you have a limited amount of ammo so why not string it out longer wasnt the argument that the fed moved too far . One cut too far. And it was more of an ee quill quill equilibrium cut the question is was good news today bad news for that. If you look at f
Those deflationary pressures, gdp target front and center, will it be 5 . Could it be below five, some say unlikely, but we wait and see in terms of where the target would be. It is also about the fed. We have fed chairman Jerome Powell set for testimony expected to reiterate the fed is in no hurry to cut rates, it is likely to lean towards a hawkish tone. We heard from many officials saying that the fed can afford to wait given the data, given strong inflation remain sticky, and the economy remains resilient. The fed, as well as china, expected to did cake dictate sentiment in the market. Also keeping an eye on thailand, india, as it is said to join the trading day in 44 minutes. Lets look at the set, currently up 0. 3 . This is a market that has been lackluster, one of the worst performers in asia yeartodate. Down 3 on the year. The thai baht has been under a lot of pressure, but today gaining 0. 1 . 35. 805 versus usd, and indian future is pointing to a higher open, up 0. 3 . Adani
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