Few smiles and the magic kingdom. Disney suffers a coronavirus hit with seem parks shot, movie theaters closed, and sports on hold. Shery a quick check of the market. This after u. S. Stocks gained ground for a second day in the regular session. We have sentiment being boosted as more economies move towards easing lockdowns. Still, in the last hour of trading, there were some cautionary comments on said officials that cut gains in half. New zealand stock scanning. 8 . This would be a Third Session of gains. Therir rate. Rate. Ir we have the rba leave rates unchanged. We are looking forward to retail Sales Numbers very soon and we will see how all of that toilet paper hoarding that we saw in march is reflected in the numbers. Not Much Movement for the japanese at the moment. Tosident trump continues push the theory that the coronavirus originated and escaped from a lab inside wuhan but sources within the u. S. Intelligence Community Say the intelligence is less than definitive. That as
Looked like both the house and senate would be out next week and it would be difficult to get anything done fiscally in terms of legislation before next week. The timeline is getting pushed out. Because of that we lost all of our gains. 3 gains in some cases. Then we had some mike pence strategy from the meeting with insurers. At that meeting mike pence said there would be no surprises, there would be 4 million test sent out and there would be no copay. Insurers would waive copays. That gives the markets the idea we are going to get an accurate and quick assessment of those infected and those passing it on. We also heard President Trump Pay Lip Service to the fact that they were looking at the cruise industry and Airline Industry and that has stocks bouncing. The s p 500 up almost 1 . The 10 year yield, 60 basis points. Jim vogel out with some good levels saying there was a cluster around 55 and buying is concentrated in certain areas. It is trading within a 21 basis point range. The y
1500 jobs being cut across the world. Shery Goldman Sachs is recruited by softbank to find funds for wework as part of a 5 billion rescue plan. First, a quick check of the markets. Australia coming online. Sophie, what are you seeing . Sophie after a threeday rise for sydney stocks, asx 200 open little change after the tepid session we saw on wall street. Heads up on the corporate fund, i want to highlight Bellamy Australia said china might need acquisition so shares will be suspended today. Bonds enough straily at a risk off. Yields coming off the session low as the rba governor says gdp is in line with expectations, but contrived with weakness and consumption. Folks saddled with high debt take longer to spend. The offshore yuan this morning trading around 7. 0366. Weight on Chinese Consumer prices and pbi later this morning. Investors are setting the tea leaves going into december 15. With the latest developments around the u. S. Deal, the mexican peso trading near a three week high
Through. The 10 year yield in japan did move above the 0 level for the First Time Since march. Copper is on a good run, for a fourth session. Above the 200 day moving average. We will talk about iron ore a little later. 90 per barrel, for a metal that cost why dollars to dig out of the ground, this is looking overvalued. Rishaad the Indian Trading nifty session on monday ekeing out the smallest gain, 0. 1 . Do we see more movement to the upside . The rally has ground to a halt. There were big names driving the benchmark to the upside. Futures contract at the moment, a flat start, slightly under pressure. The rupee continuing to strengthen on the back of the surprise decision not to ease policy last week. We have seen the currency appreciate since. Bond yields continue to lurch lower, pushing up yields. We are still factoring in more rate cuts. 10 year lets join su keenan in new york. She has the first word news. We start with the rba governor was saying he is surprised australias wheat
We have unrest at home, and abroad. New protests in hong kong today, despite the protests number one demand there being met. This weekend is not expected to be any quieter and then over the uk, lawmakers voting to block a no deal brexit thats the show down with the Prime Minister Boris Johnson, well talk about all of that plus Hurricane Dorian making landfall along the North Carolina coast as the storm continues to make its way north, were live on the ground with the latest on the Recovery Efforts. Melissa fox Business Team coverage Edward Lawrence is in washington, christina partsinevelos is on the floor of the New York Stock Exchange and blake burman and Hillary Vaughn are both at the white house. Lets start with edward. Reporter melissa today Federal Reserve chairman Jerome Powell hints he supports a rate cut, now he bases that around trade, not the trade policy itself. We would never comment on trade policy. We dont do trade. Its not a responsibility of the fed, but i think it is t