The rba signaled for their willingness to ease. And the other big story at this hour lawmakers in washington take aim at the power of big tech. An antitrust investigation says they are abusing their dominant status. Check lets get a quick of the markets. We are seeing u. S. Futures down at the open, extending gains after we saw the regular session seeing a bearish reversal at your after trumps of fire called off negotiations. Already, market have been trading mixed and about flat after the fed chairs cautious tone on the economy, warning that too much support was better than not enough. The s p 500 saw the largest drop in two weeks and fell to session lows after the president ended stimulus talks. The losses were led by discretionary talks. Airlines also tumbled and we saw the nasdaq losing 1. 6 . After the close, we saw that House Democrats released antitrust reforms to curb the power of u. S. Tech giants including amazon and alphabet. We will be watching that space very closely. Doin
Paying more than 1 billion australian to settle a Money Laundering allegation, the largest corporate find never levied in australia. Tiktok drama turns another page, owner bytedance asking a judge to halt the ban in america, Chinese State media slamming u. S. Dirty trip u. S. 30 tricks. We heard from larry kudlow in the last few minutes, downplaying expectations we will be getting any more fiscal stimulus through the pipeline, larry kudlow saying he doesnt think the u. S. Needs another stimulus package and that they will be doing targeted measures only and need to be smart about this measures. This comes after course of fed officials, including chair powell, saying there is a long way to go for the economic rebound, we heard from several others, all saying there is further need of more fiscal stimulus to do that heavy lifting. And that comes after congress ended its pursuit of a bipartisan spending bill and are now focused on replacing Ruth Bader Ginsburg on the supreme expected thisin
Slightly pressured. 650 billion are wiped out in u. S. Equities in one day, yesterday. A lot of it has to do with the dollar. On track for the best week since april. That is hurting sentiment around the region. The aussie dollar is hovering around the july lows. You have more calls for a cut of the cash rate from the rba next month. We see yield heading lower in australia. 105 for yourat offshore renminbi. Slightly stronger for the pboc. Here are where yields are. 67 basis points. We continue to watch whats going on in the aussie 10 year, and the china bond inclusion could happen later on today with that ftse russell. Russell wreste. Could spur inflows into the market. We are watching commodities with the Dollar Strength. The metal is falling off. Silver, copper and aluminum taking the biggest hit in the last 24 hours. The marketre on action we are joined by our mliv strategist in singapore. Question of the day is what i want to start with. What assets suffered most from deleveraging .
Con officials the central bank will allow for higher inflation. Appropriate Monetary Policy will likely aim to achieve inflation moderately above 2 for some time. President trump officially accepts the republican nomination as he makes his case to the American People blasting joe biden as a socalled threat to the nation. Despite all we have achieved is now in danger this is the most important election in the history of our country. Developing news about Prime Minister shinzo abes future lets go to the Live Press Conference now to the confirmation and the support of the people of covid19 and the measures we have done. There have been requests from the local government on covid19 Counter Measures we have been fighting against invisible enemy. We tried to avoid the symptoms to protect the life of people from time to time based on expertise. The government has done its best but many people have been infected and some of them died id like to express my condolences for those victims. At this
With the dividend although it will be far lower than last years. Hong kong media tycoon released on bail. His broken National Security laws beijing has branded him guilty. Breaking news out of south korea. We are getting Unemployment Rate numbers, and again, surprising to the upside. They fell to 4. 2 in the month of july, this after surprising to the upside the previous month, falling to 4. 3 in june. Of course, we have seen more job creation efforts. In fact, we just heard from south koreas Ruling Party Leader saying south korea will actively consider a fourth extra budget if needed. South korea has already pledged more than 225 billion in stimulus measures or roughly 14 of gdp to help put a floor on the jobs market, and right now, the july Unemployment Rate falling to 4. 2 . Lets turn to the markets and bring in Sophie Kamaruddin in hong kong. What are you watching . Korean alongside the jobless numbers, we are waiting on Australian Consumer confidence, due out later this morning, a