Businesses are failing, tourism has collapsed and confidence is shot. Beijing is expected to confirm the new security laws for hong kong later on tuesday after imposing visa bans on americans it says are interfering. Shery lets get you started with a quick check of the markets. We are seeing u. S. Futures flat at the open. We had a rally in the regular session with u. S. Stocks surging. The s p 500 erasing its june declines. All 11 sectors in the s p 500 closed higher, being led by industrial, communication stocks. We had some positive Economic Data. Pending home sales posting a record game, offsetting concerns of the virus resurgence over some states in the u. S. Including florida and new jersey. We have the dollar also closing around the four week high. Take a look at what would liz doing. Under a little bit of pressure but still above 39 a barrel. Oil rebounding from the weekly loss as we got better than expected Economic Data. We are still seeing a bit of a bearish picture in the o
Asia braces for a second wave. This hour brings the latest check on the japanese economy, we await gdp Growth Numbers in a quarter dominated by the outbreak. Lets take a look at markets as we set up the trading session. We are seeing this with u. S. Futures. Backandforth between washington and beijing really dominating our can sentiment at the moment. Seeing new zealand trading on , as new zealand moves out of the restrictions. Positive upside,. 6 higher for australia futures going into the start of trading today. We are watching the yen, which has been seeing strength. Looking at positioning by money positionsnet long yen are being extended. There could be further upside with the japanese currency. Seeing upside continue with wti. Gains ineen the recent oil, shery. Shery we see more economies reopen and we are hearing from apple. They are saying nearly 100 stores globally have opened their doors again. Are refining it doesnt mean stores will not be shot if needed. Apple saying the sto
More deaths from the coronavirus as cases approach 5. 5 million. The u. S. Bans entry from brazil. Violence returns to hong kong as protesters announced chinas new security law. Washington said it could be the death knell for asias leading financial center. David quite a stark and dramatic drop. We will talk about that more. Risk off, a lot of markets are closed today. We are off a few points for the s p, nasdaq and dow. Whiteutes or so, the house saying trump is restricting entry from brazil. There is a 1 retracement in the bloomberg dollar index, higher as we go through. You can see downside following the 2 less drop we had on friday. Indi and given is holidays the u. S. And singapore, trading for the futures session in asia. We are seeing modest upside going into the start of trading in tokyo, korea and australian richard looking higher after closing out the week down ralia after ofther easing of lockdown restrictions in New South Wales and victoria states. This is the week more aus
Haslinda, what are you seeing . Haslinda Industrial Production coming from march showing a strong recovery momentum. We saw what happened in march. It is pulling back from a historical plunge in the first two months of the year. Still there are some challenges if you take a look at the supply chain. China still faces supply risks from a global lucked out. Factory production global lockdown. Factory production still shut down in many parts. Bloomberg intelligence saying 70 of chinas imports were used for production in 2015. Still strong numbers in terms of Industrial Production coming in at 3. 9 versus the estimate of 1. 5 . If you want to track the trajectory Going Forward, we have to track those economies like korea, japan, taiwan. They supply china with the most technology parts, the u. S. And germany, even brazil. As long as they are not emerging from the lockdown in their respective countries, it wont be in issue for chinas own production. Industrial production for china year on ye
Throws its weight behind the World Health Organization and says any vaccine success will be shared by all. President xi says cooperation is vital. It was really this help vaccine help on this vaccine obnoxious safety but also the immune response effort to see vaccine that really de u. S. Stocks higher. We did have the s p gaining more than 3 . U. S. Stocks surging the most in six weeks on the promising early results. That has led to a pretty steady sense of positivity. We are seeing u. S. Futures as well as trading in new zealand. Australian futures among one of the asian features that are trading up by over 2 . In fact, the highest since march 11. We are seeing highs for hong kong and japan futures going into the start of trading in asia. Lets get more on china. Xi jinping is promising to make any Coronavirus Vaccine universally available once it is developed. This as he reiterated beijings support for the World Health Organization. The pledge is part of efforts to defuse criticism of