[music] the World Trade Organization warning that restrictions on are at their secondhighest level potentially on record. Oecd also warning on u. S. China trade tensions. They have held a conversation, at least talks aout talks, ahead of potential president ial meeting on saturday. Theyre having those ahead of osaka. Meanwhile, we talked about how markets are drifting. Higher here for the asiapacific. Were still seeing optimism to that meeting between the u. S. And china and japan. Up about 1 10 of 1 . Not thaty story, interesting here with your u. S. Futures here. Were slightly higher here after we reached those record highs, came off a bit in the last couple of sessions. It is that dollar story that continues to weaken. Moment of truth as jeff said, when it came to the broke belowr we that average. We did see the dollar weaken thenst most, except for japanese yen. The wan, still the big beneficiary of this. Were talking about april highs for the currency here perhaps on ais trade opt
Over concerns of chinese growth. Onbers out of China Industrial profits. Lets look at what has been going on with them. A little recovery. We got above the dotted line, breakeven, if you will. For april. E 1. 1 . E we got up this informs us about nominal gdp and that would suggest we are on a slight uptick. The bottom of this graph is the ppi. Years of negative prices. We have been positive and remain positive as well. Against this backdrop of where companies do have pricing power, industrial profits ticking higher. Against thehat background of the g20. We have a date for that. President trump stepping up rhetoric against china as he prepares for the crucial meeting in japan. Stephen engle is on the ground for us for that meeting. We have a date for the date. Do. Hen we saturday, just before lunch, 11 30 a. M. Saturday is when president xi jinping and trump will meet. President has a full schedule tomorrow. He will be meeting Scott Morrison of australia for dinner and a whole wave of m
Spotlight later. The japan and korea spat rambling on. They may be forced to retaliate. The latest plan fails to impress. Started withget us a quick check of the markets. Health care tech are some of the biggest decliners. Individual movers like apple being downgraded. Falling after they cut their outlook. We have lingering effects from the data that we saw last week. Had one sector that gained ground, the energy sector. Also rising with geopolitical tensions. Ups see how we are shaping for the markets. Sophie this tuesday, kiwi stocks are up about. 4 . This after mondays broad selloff from a two month high from mumbai to shanghai. Drop since may. Likely crossing their fingers that they can resolve the trade spat. In sydney might rebound a. Ouch with commodity moves oil is under pressure. Rising volatility. We are watching the jump in iron or prices. , we have the today policy decision and india earnings season kicks off. Thank you very much. Lets check on the first word news. U. S. St
Of a u. S. Trade war, is it a risk to investors . First, to our top story, facebook shares took a hit earlier today after the wall street journal reported Mark Zuckerberg knew about the social networks problematic privacy practices. Facebook uncovered emails in the process of responding to a federal privacy investigation, raising concerns that they would be harmful to the company if they became public. The journal says that is part of the reason why the company salt sought a quick settlement. Here in me in san francisco, our bloomberg tech executive editor, so, tom, explained this to me here. The nuts and bolts here. What is the journal saying that facebook uncovered . Tom they are referring to an email exchange, which, by the way, they have not seen them. We certainly havent. We dont know where they got them. Apparently there was this exchange in 2012, around the time that the ftc was handing down this consent degree punishment about facebook and its privacy practices. At the time, th
The movement against the extradition bill. The chief executive in definitely postponed it, but not withdraw it. Many protesters say it was not enough. They wanted the chief executive to not only apologize, but withdraw the bill. But she says that they will not consider it until at least through the rest of this year. Protest organizers say they are angry and are calling for people to come out. Already, we are seeing families coming out the starting to fill up part of the square. Many of them are carrying white flowers, which some flower vendors are selling around the subway entrances in support of the one protester who did fall to his death late yesterday after climbing scaffolding. There was quite a press conference that we saw yesterday. Thane lam spoke for more one hour. When asked about if she was to resign, she was quite defined on that regard. Defined on that defiant on that regard. Ed absolute stephen absolutely. If she repeatedly asked would resign and she dodged the question a