on china. sources say curbs on jack ma s group over concerns on national security. shery: we are getting south korea s current account balance numbers and the surplus right now narrowing the month of august from july, coming in at $6.56 billion. this is a little bit of a narrowing from that $7.5 billion we saw in the month of july. the balance widening. the surplus coming in at 7.0 2 7.02on dollars and billion dollars and this is widening from the previous month. when it comes to export numbers, we have seen the plunge easing a little bit and in september, south korea s exports rising for the first time in seven months and we are seeing the goods balance surplus widening a little bit, haidi. haidi: take a look at the open we are setting up in the first few minutes of trade here in australia. we have seen that bounce following the super expansionary budget that was delivered this week by the federal government. the asx in the previous session closing at a one month high on t
global virus infections tops 2.5 million with more than 175,000 deaths. u.s. cases climbed 5%. their biggest increase since april 10. it s get you started when it comes to the state of trading in asia. we are setting up for this wednesday s session. sophie kamaruddin in hong kong for us. sophie: we are seeing mckay futures edge slightly higher with s&p e-minis expecting more eruptions in the region after asia was led lower by india on tuesday. earnings adding to that drag. the yen just holding steady in the face of a stronger dollar, which is trading at a two-week high and gold just resuming gains with spot prices up 11% this year and bank of america is bullish on bullion, raising its cold 18 month target to $3000 an ounce. moving onto oil now, wti for june back above $13 a barrel after slipping below $10 in the new york session, which was pricing weakness in the front month contract. they are allowing for negative options to be lifted from april 22. we are seeing the oil for
it is thursday, april 8, 2020. you are watching cnbc. good morning, we begin this morning as we have for weeks, breaking news and a futures market searching for some direction. this now, can you see the dow jones down by 70 points, the s&p around 10 points and nasdaq around 27 points relatively stable. indicating the volatility we ve seen as of late can continue after equities staged a major come back most of the day yesterday before wiping out a more than 900-point gain to end the session slightly lower check out the bond market to the down side implying people are buying up some safety on that debt two-year note yields below ba.2% or .72%. that s the bond picture. oil prices bouncing back on renewed hopes of a coordinated output crude oil prices wti benchmark prices 3.5% to the upside ice brent crude up half a percent as well. 32 the figure there the last trade. wti made a sharp move around 9.5% investors worried any move will not outweigh the global overproduction going
space. oil getting a bit of a reprieve. the concern is you have even more oil flow if the opec deal comes to an end. we want to get you today s market moving news from new york as well as washington. we want to start with the latest pmi data. factories around the world suffering one of their grimmest months on record in march. fbloomberg s michael mckee joins me for more. there s a lot to dig into. give me some of your takeaways here. michael: mr. rogers word of the day is contraction. across the developed world, they are pretty bleak at this point. some of them not as bad as thought because of a quirk in the data, but let s go through the data right now. anybodye hardest hit of i the virus, and now the hardest hit in terms of the pmi number. eurozoneance, germany, , u.k. are also in the 40 s, which marks contraction. new orders of production crashed, but there is a quirk in the data where supplier delivery times are linked. however, in this case, there are no supplies to del
our bloomberg voices are on the ground with all of this morning s top stories. we begin in japan, with efforts to calm the market jitters over the coronavirus outbreak. the boj says it will provide ample liquidity to ensure stability. joining us is enda curran. it help to the market for a second. what did we learn? enda: it seems like it is part of a coordinated push by the world s central banks. to be a g said they would provide liquid it the boj said they would provide liquidity and followed up by putting money into the market. it is important to also say what they are not doing. they didn t signal an interest rate cut. interest rates are already in the get of territory in japan. they didn t indicate any outright easing. they already have a huge balance sheet from years of quantitative easing. it is in sync with steps being taken by others. it is more designed to ensure confidence than outright easing. alix: let s stay in asia right now. global coronavirus cases are at 89