To break trump has yet the stimulus long gem. Softbank backs the virus handed record losses in may at a drop of the value, some may change with earnings later. Lets get a quick check of how the markets are trading. We are seeing u. S. Futures under a little bit of pressure, down 1 10 of 1 . We have President Trumps executive actions on stimulus measures boosting sentiment. That weighed in indices. The s p 500 saw the highest close in sixmonth in the longest winning streak since 2017. Aska futures at the moment japan comes back from mountain day holiday. I mentioned softbank earnings coming back later. The japanese yen Holding Around the weakest in more than two weeks. The bloomberg dollar index unchanged at the moment. This after it touched a oneweek high. Watch out for some data this morning. We are getting south koreas 10 day trade data. We are getting japan numbers, not to mention singapores final gdp numbers. Crude headed towards 42 a barrel after gaining the most in a week after s
Many people. Tencent is one of the most active investors in the world. More than 450 investments under the companys umbrella and that is more than the number in softbanks universe and includes names like tesla, snap and epic. Thirdly, american businesses operating in china, like mcdonalds and starbucks, they rely on the wechat app for their operations so being cut off could jeopardize their business there. There are so many questions still outstanding but its really hard to understate the importance the daily role of wechat for chinese internet users. Its called a superapp people use it for everything from messaging and booking a doctors appointment and we dont have an equivalent here. Tik tok is popular in the u. S. Its looking at a sale to microsoft so it could get around that ban there is no such option for wechat, carl weve tried to explain to investors just how important it is on the other side of the world. Lets bring in global head of Technology Investment strategy at deutsche.
An eye watering loss. Costsosses and rising mean bonuses are set to disappoint. We are seeing u. S. Futures flat. This, of course, after we had the regular session seeing record highs. At one point, topping the record reached in february before the pandemic. Every sector on the s p 500 was in the green. We have nikkei futures moving higher as we have the japanese yen under pressure. We have seen it fall against the u. S. Dollar for the past four sessions. Right now trading around the weakest in three weeks. In sydney, futures higher. We have the aussie dollar listed a little bit higher. We have a softer u. S. Dollar, not to mention higher commodity prices. We have kiwi stocks at the moment gaining ground after seeing the worst day in a month. This as we have rbnz expanding their qe program. Gains in the currency returns, commodity exports, unr holdings qnr holding steady. U. S. And chinese negotiators plan to discuss progress in the phase one trade deal. Pushing toset to be widen the a
One attorney general has filed multiple lawsuits to keep them out of the hands of teenagers. But first, to our top story. Two years ago, ubers infamous Ceo Travis Kalanick was forced to resign after a series of scandals. Dara khosrowshahi was brought in to rebuild. He has brought in new management and pushed the Company Beyond ridesharing. It has not been entirely a smooth ride. A big ipo Spark Investment but investors were not impressed and has traded at a low price since. I sat down with ubers ceo and began by asking if he had made the right decision to join the company. Dara we have resolved the governance conflicts the company had. There are many issues the company was involved with. As a partnerank and you want them behind you. We have a great investor base. We have taken the company public. Revenue has grown 75 since i joined. We now have a path to profitability. So while we have had bumps on the road, i like the position we are in now for the next years. Emily there have been bu
Nasdaq higher, 20 points s p 500 up a little over 1 point. This comes after declines for the major indices in yesterdays session. Dow, s p and nasdaq each closed lower by 1 . The s p 500 closing below its 50day moving average for the First Time Since march 28th. Look at treasury yields. See where theyre standing right now. The tenyear note at 4. 182 and the twoyear at 4. 908 , just below 5 . The tenyear yesterday hit 4. 2684 core inflation remained at 6. 9 , unchanged from the prior month, slightly above forecast. Pay growth continued to pose headaches for policymakers as wages grew 7. 8 in the quarter that ended in june were watching shares of cava this morning sharply higher the mediterranean restaurant chain reporting earnings per share of 21 cents since going public swinging to profitability from a net loss in a year ago quarter. Revenue of 173 million Beat Estimates of 163 million. Same store sales rose 18. 2 . The cfo attributing some of the strong traffic to increased Brand Awar