The big day is here in the United States. Super tuesday. Can joe biden continue challenging Bernie Sanders . Will Michael Bloomberg or Elizabeth Warren claim their first date . First, more first state . First, more coronavirus cases in the u. S. Two employees in china contracted the virus, or cases in south korea, iran. The fed jumping in but u. S. Stocks still tumbling. What are you watching ahead of the open . Paul the u. S. Reaction really setting us up for wednesday. New zealand, already open and already weaker by half of 1 . Up day on monday no, a big update on tuesday, a down day on monday. Futures here in sydney are off by 1. 3 . The market up by almost three quarters of 1 yesterday. Nikkei futures pointing south by more than 2. 5 . We look at currencies, the aussie dollar actually gained amid all of this, knocking on the door of . 66. Gdp for australia a little later on for the Fourth Quarter. Those numbers are expected to be healthy but they are of course backward looking. The
10 year. Crude now below 30. And not emphasize enough how much pain that will be causing to producers. To get a sense of where we are in the market, if you switch of the board, you can see some of the heavy hitters within the market, like apple and microsoft, down 10 , 11 . Also seeing bank of america off by 16 . The index which tracks the s p is down by almost 10 . Again, a world of hurt within the next two and half hours. We have some breaking news. The boe is pledging further prompt action when needed. No specifics on that, but they are pledging action as needed. We will bring you anything, any information as they come out. They said the dollar move to combat is there. This is governor bailey. Time now for global exchange, where we bring you todays market moving news from all around the world. From new york to washington, brussels and beijing come our bloomberg voices are on the ground with all of this mornings top stories. The Federal Reserve swept into action yesterday, cutting it
Droulers in hong kong. We are coming down to asias Major Trading opens. Tech giants leading a stock rebound on wall street. Ai in the spotlight with apple in talks to build googles gemini engine into the iphone and nvidia unveiling its new processes. Haidi the rba is in focus with investors watching tuesdays decision for any sign of a softening in hawkish bias. Im Stephen Engle outside the bank of japan headquarters in tokyo. It is a momentous day with reports the central bank is poised to end the yield curve control and etf buying as hiking its key rate for the first time in 17 years. Haidi it is a busy day when it comes to the central bank docket. The bank of japan with steve in tokyo. Also watching the rba decision. This is the picture as we start out the staggered start to trading. We are seeing the asx 200 a 10th of 1 . We did co strike a stocks. Gaining higher financials and banks led the part of the gain. Modest gains. A 10th of 1 . A lot of caution as we did see the rebound in
Kong. The pace of tightening is critical with risks on all sides. Janet yellen does not want a boom bust economy. Rishaad correction, what connection correction . Last week was a harbinger of something, turnaround, but that does not look like the case this morning or yesterday. Lets have a look at btv 39. It feels a bit like 1999. Is it . Market bears try to draw comparisons between todays bull market and that of the late 1990s possibly are wrong, could be wrong. There is a reason behind the link being unwarranted. Market graft is alive and well. More than 70 of s p 500 members have been advancing. Research partners wrote a note on tuesday that this was not the case in 1999, when less than half of the s p 500 saw members rise. Before the crisis, 50 of stocks ended the year higher. What we have is market breadth. That could bring solace to some there. Ut there bulls out what about the situation here in hong kong . A hairs breadth away from the psychologically important 30,000 level. Let
With the u. K. Persists. The euro is just earning slightly lower but was rising for the first day in three earlier here in earlier. A big decline in the euro this week against the dollar, falling the biggest amount since october, down 1. 5 . Before this week, the euro out for seven consecutive weeks against the dollar, the longest winning streak since 2004. Mixtures in the bond market with core yields falling and peripheral yields rising. The greek fiveyear up 39 basis points. The commodities space is being hammered, natural gas is the only commodity on the bloomberg Commodity Index that is rising. Gmm is the wonderful function. Want to tell you about stocks a monday drops, amundi drops that rises the chief executive say the recent collect dust correction in Global Equities is not such that it would significantly affect our different distribution channels. It will be fascinating to hear what other men in Money Managers and banks have to say about this recent correction in coming weeks