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Further. We are joined this hour by finance minister. The other big story today, lawmakers in washington take aim at the power of big tech. Saystitrust investigation they are abusing their dominant status. Australia coming online. Lets turn to Sophie Kamaruddin in hong kong with a checkup on markets. A two day rise, we are seeing pressure come through for the benchmark while the aussie dollar is testing that 71 popl after forming a double early this october. We are seeing action in the bond space. The front end of the aussie curb slipping with the three year yield falling as much as four basis points earlier in the session. This after australias updated debt issuance coming in less than expected. I want to highlight bhp shares. We are seeing the stock fall as much as 2. 3 this morning. Tesla bhp in focus be at flipping the board to check in on futures, s p eminis under pressure. The yen trading study but theres upward pressure ....
The u. K. Considers new curves in london. The rda prepares to meet with melbourne again in lockdown. Pam braces for more economic gloom with First Quarter growth data. We are expecting a steeper downward revision. Lets get a check of where mark were markets are setting up. Here Sophie Kamaruddin in hong kong. Here is Sophie Kamaruddin in hong kong. Sophie a cautious start to the month of august after asian stocks have a fourth monthly gain. We are seeing sp Futures Holding steady and looking like a soft start to this trading week. Gold futures testing 2000, bouillon extending its rise after the best month in four years while u. S. Real yields lingered near record lows. Money managers are shifting gears a touch, decreasing the bullish gold bets to a six week lo ....
Increasing pessimism about growth. More ceos than ever see a slowdown. Sophie chinas mystery virus is spreading through persontoperson contact. Hubs stepping up passenger screening. Lets turn to selina wang in beijing with australian markets coming online. Selina we did see australian markets red hot. We are now starting to see them drift slightly lower, marginally except for the new zealand up. 2 after gaining 3 since the start of this year. We did yesterday see the equities hit record highs when it comes index price and private equity valuations. So, that would be enough to ring bells in normal times but our strategists say that macro backdrop in australia is dire enough to call this rally into question when you consider the massive wildfires that are damaging their economy. With increasing focused on environmentally sustainable investing, that rally is potentially at risk. I want to check on that a little bit more with this next chart. Thelook at that rally in context of the u. S. C ....
For the s p and the dow. The s p is up about half a percent. The best equity gain yesterday in two weeks. We are building upon that as we gains across the board. We are near the intraday highs for the s p and thehead to the. There is Technology Shares that are tumbling, twitter and yelp. Twitter came out with disappointing numbers today. M easily 2 million a measly 2 million active users. Yelp down a record 28 . Part of that has to do with their cutting their Sales Forecast but also cutting back on their National Branding campaign. Lots of analyst cutting their forecast on the stock, rating on the stock. A different story in commodities, inventories in the u. S. Dropped by over 4 million barrels. Were actually a gain which is why youre seeing nymex crude higher than 2 . Giving a dropon in oil prices has gone down. Als ....
We will wrap up the weekend action from g20. Returns,sident trump how his Health Care Reit forms are faring in Congress Health care reforms are faring in congress not well. We are coming to you live from hong kong. We are the first ones to debut it, pretty spoiled here at daybreak asia. Is looking great. Cant wait to see how you will enjoy it. A new toy for you. It is just after 7 00 p. M. On fridayumbers looked good, a goldilocks scenario, but it does not stop investors from fretting about the bond market, treasuries, when rates will hike and we will get more clues this week from janet yellen in front of congress. Whether she will put more fuel into this on route. The equities markets bouncing. We will see if asia reacts the same way. We are starting off the week on one month lows. We will see if there is a bit of caution. You see how things are kicking off. Happening, ne ....