because of an international arrest warrant for alleged war crimes. mr putin told the summit they re on course to meet the aspirations of most of the world s people. we also heard from south africa s leader who reflected on his meeting with china s president xijinping. take a listen. president xijinping and i discussed the ongoing conflict between russia and ukraine and its significant impact on developing economies in africa and elsewhere. we both agreed on the importance of dialogue and negotiation between the two sides. the block accounts for about 40% of the world s population. a quarter of the global economy. lupin rahman, manages the emerging markets portfolio at investment firm pimco. she told me what investors are looking for from the brics summit. investors are looking at a more medium term outlook rather than having a near term market impacts but it s important for emerging market investors to recognise is the first time brics are taking an international voice for th
investors brushed off comments from the chair of america s central bank, jerome powell, who s ruled out an interest rate cut next month. isaac poole, the global chief investment officer at 0reana financial services gave us his outlook on the interest rates and the markets earlier. what we are seeing here is the market really continuing to expect significant rate cuts from the fed and that has helped drive forward returns, as you say, this target was what we were expecting to hit at the end of the year, but we have seen a little bit better than expected economic data is also helping optimism, that earnings growth might pick up a bit in the next few months. so this is all bit in the next few months. so this is all about expectation for rate cuts, mr optimism because of strong earnings? i think it really does reflect rate cut expectations and a growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and
helped drive forward returns, as you say. this target was what we were expecting to hit at the end of the year, but we have seen a little bit of better than expected economic data also helping optimism that earnings growth might pick up a bit in the next few months. so is this all about expectation for rate cuts? is the optimism because of strong earnings? i the optimism because of strong earninus? ~ ., , earnings? i think it really does reflect earnings? i think it really does reflect rate - earnings? i think it really does reflect rate cut - does reflect rate cut expectations and the growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and negative for some companies. growth is slowing, it does cast doubt on the possibility of a re acceleration in the interim here. so it leaves that rally a little vulnerable to any failure to reach those expectations. japan s nikkei has crossed the 37,000 mark f
continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better than expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings? optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations earnings? it reflects rate cut expectations undergoing - earnings? it reflects rate cut l expectations undergoing belief that the us can have a soft landing, when you look at earnings growth, actually earnings growth, actually earnings growth
that s what the white house wants to talk about. they believe they delivered. the president is dealing with a decision that was made out of his control. the significant, dramatic cut that was made in output levels by opec. the president, blunt, in his view of that. what s your reaction to the opec decision? disappointment. don t hurt him. is it going to be there s a lot of alternatives. we haven t made up our mind yet. reporter: there s so many different elements of this, the domestic economy, the global economy, the bilateral relationship, the geopolitics in the midst of the war in ukraine, and politics, 30 days out from the election. the white house is working on a series of options that the president may pursue to block major increases at the pump. they are aware this is a global market. a decision made by some countries that the u.s. viewed a s allies or should have been allies leading up to it. the disappointment is real. some rage, to some degree, when you t