His big tech hitting two big is big tech getting too big . Shery we are seeing u. S. Futures slightly higher, up. 1 , this after we saw stocks falling in the selloff in tech intensifying in the u. S. With the fomc leaving the markets and a Little Information lot of questions about the state of the economy and the recovery. We are seeing japanese futures holdings that he at the moment. At this of course as we head for the boj decision. Really not much change expected right there. Stimuluscy to step up receiving. We have a new cabinet in japan as well with the new Prime Minister su,gaga. Right now, under a little bit of it has reached the 105 level. Key restocks gaining. 25 . We have Second Quarter gdp numbers coming in sightly better than expected, but still, the worst contraction since the great depression, down 12. 2 quarter on quarter, haiti. Haidi haidi. Haidi the Federal Reserve pInterest Rates near zero. Interest rates near zero. Ever evolving to medications strategy it unveiled l
Japans ruling party gets set to pick a new leader. The next Prime Ministers have a tough task of leading the nation after the pandemic. Shery lets get you started with a quick check of how markets are trading. U. S. Futures up. 4 . This of course after tapping the worst week since march. We continue to see the selloff and idiosyncratic news. Softbank changing options Investment Strategy leading to selling picking up any friday session. Not to mention the tech stock reversed gains after china said it opposes a fourth sale of tiktok. We have the nasdaq composite really under pressure in the u. S. Session on friday, down. 6 . Take a look at what oil is doing because we are coming off of its back its worst back to back weeks since april. Nothing on oil prices, tomention concern about opecs production compliance. Wti at the moment at around 37 a barrel, gaining about. 5 . Lets get a quick check of our asia of how asia is setting up. Sophie we are nearing the halfway mark for september and t
Country out of its worst economic slump in decades. The deadline draws near for tiktok to divest it u. S. Assets, reports a shutdown of its priced app for sale. We have breaking news. Oftbank will be selling this as bloomberg learned softbank was trying to strike this deal that could be valuing it at 40 billion. Arm, weis deal to sell could have seen softbank reviving those stocks about taking the group privates. We are hearing that softbank divisionelling its arm to nvidia. This would be a 40 billion deal, the biggest chip deal to date. The transaction value is up to 40 billion. Nvidia could be paying more than 21 billion in stock and 12 billion in cash. This would be a 2 billion payment as signing. This coming at a time as we continue to see softbank divest its assets. Softbank could be receiving an additional 5 billion of cache if the performance meets certain targets. This also depends on what regulatory scrutiny they go through. This could be the largest ever in the semiconductor
The dollar gaining some ground after paring losses after that meeting. Fx sellinging asia off, especially the renminbi after reaching may 2019 highs. There are signs perhaps the currency is being overbought. Expecting boj, boe, and Bank Indonesia today. Those currencies and focus. Watching the bond market as well put it did not get adjustments on qe from the fed. We saw the 10 and 30 yield spike coming off a little now but that did lead to earlier the yield curve steepening and coming off a little. We are watching brent crude as well as wti. Also saw off some of the highs we saw overnight. There is optimism for demand but that is also losing some of those gains right now. Tom lets get you up to speed with some of the first word News Headlines and other stories. President trump says a Coronavirus Vaccine could be just tribute it widely as early as october, contradicting statements by some of his top health officials. The head of the centers for Disease Control and prevention told a Sena
Beijing praises the decision while President Trump says he is not a fan. A focusson says now on his cabinet lineup. And plans for structural reform. Are seeing a lot of investors sticking by the sidelines, a quiet session in the u. S. Overnight. Wall street hanging out to see what further guidance we get from the fed after their decision. A great chunk of investors will be waiting for more details as to the revamp inflation target. We are seeing futures trading flat. This after we saw u. S. Stocks rising. The s p seeing a Third Straight session of gains. For a change, we saw gains across tech, outweighing the decline we saw across financials. Treasury yields at the dollar end of the day, where they started. We are seeing the likes of the dollaryen holding steady, this as we look set to see the appointment of yoshida suda as the new japanese Prime Minister. As well as hearing more about whether we will see continuity across his cabinet appointments. We are watching at to see if another