Germany sees the economy shrinking at least 5 . This, as fears of a virus followup could last for years. We hit our we will hear from ceo bill winters this hour. Haidi lets look at trading when it comes to australia. Asia looking softer, potentially modest bump up after u. S. Stocks saw the first gain in three days of losses. In new zealand, trading is dataway, retail sales is a point we will be looking at later to give us an indication, not super forwardlooking, but at least how things stand in terms of the fed rate period, asia excluding japan looks like it has had a flat week so far. That is u. S. Future. Waitinghe bond market, for the ava bond purchase, the aussie yield curve steepening ahead of the government announcing option plans for the coming week. We could see a bump up in primary activity, looking at the threeyear yield to and the week below target after the central bank boosted liquidity and calmed down money markets. We are watching banking stocks after they cut fees, one
Nejra che risch nejra cehic in london. Futures turning negative. We are positive in the Asian Session but that could have been a technical bounce with the s p futures dropping below the 30 day rsi. Looks like we could see another day of losses. , down threeyield basis points. Two year yield a three year low. Lasthit that record low friday. Pricedh gloom is being and the Global Pandemic. The yen has been strengthening for days. Losses below 50 a barrel. Bob iger is stepping aside in a surprise shakeup. The as executive chairman through 2021. He takes over the immediately. Chapin we have someone we know very well. The thing ive really taken away from bob igers legacy is get the content right and Everything Else follows. Senator Bernie Sanders felt the burden of his frontrunner status of the latest democratic debate. All six rivals delivering attacks. Their aim, stalling his momentum. Another focus of attacks, Michael Bloomberg. This after spending more than 500 million on advertising. Mr
Overnight in asia. The nikkei higher by 1. 1 . Hang seasoning up 2. 3 and shanghai up. 8 . Youll also see green arrows in europe the dax up 1. 9 . Cac is up. Gains for italian stocks too in the treasury market, at this point, 10year yielding 1. 67 . Twoyear at 1. 551 30year up at 1. 61 . Iranian Officials Say two missiles trunk an iranian tanker in the red sea crude prices, as a result of this, they are jumping up close to 2 wti crude now 54. 47. They are saying that damaged two store rooms aboard the tanker and caused an oil leak that attack happened about 60 miles north of the city jeda six months after the attack of the oil tanker in hermuz and the saudi attack never good to conjecture anything they have been the attacker and you wonder was there Something Else going on because they didnt point fingers, you wonder. Was it a screw up but we have no idea. No idea they were attacked by someone. Who knows. Two missiles hit a tanker that much we know. Lets talk about the trade headlines.
Been on the year. A lot of traders saying this could be a good time to buy vol given some of the structural issues. Keeping a my on emerging markets, the msci keeping an eye on emerging markets, the msci has swung back and forth, now up about 0. 4 . Guy the big story out of europe over the last five days, actually as well out of the United States, is that stocks have gone nowhere in a hurry. The stoxx 600 is just up 0. 3 for the week. Today a little less quiet on the volume front. This is the average volume at highs. Today is a mess of expiring of options. The blue bars here are the average volume you see throughout the day during the European Equity market session. The white lines are the actual volume today. As you can see come a big spike around 10 00 when those expirys came through. When we get the close and a little while, we will see significantly higher volume. We are getting big volume today, but very little sense of direction from european equities. Let me show you the numbers
And double digits, softbank announced its second vision fun after its wildly popular first tech fund. How it is changing up the landscape. First, our top story, uber out with secondquarter results including a 5. 2 billion loss. Sales, bookings, and monthly users all missing estimates. Shares down to the lowest level since may. Here to crunch the numbers and break down uber eats an active users is Mandeep Singh of bloomberg intelligence. Payment fairly disappointing, what is your biggest take away . I think it was just a revenue miss, and part of that was related to the use of subsidies in their ridesharing business, i the food business. I think they have been using subsidies for a while. They have been seeing pricing pressure because uber eats is a very fragmented market. On the core ridesharing side, i think theyre doing fine. It is just the law of large numbers is catching up. To me, it looks fine. Emily i should add that the adjusted loss was lower than anticipated, 656 million vers