We start with an Epic Battle Raging On Wall Street that has seen small time Amateur Investors take on the titans of the hedge fund industry. Its all centred around this company the struggling us computer Game Retailer gamestop. It shares have soared at much as 1700 after a group of private investors used online forums to drive up their price. And that has raised serious questions about how Financial Markets operate in the era of social media, as paul hawkins reports. This is a story of david versus goliath, of the amateur online investor beating the Big Traditional Wall Street traders. At the centre of it, gamestop, a struggling American Retailer Selling dvds and video games. A number of the Wall Street Traders picked up on its problems and bet money that its share price would fall, known in the business as shorting a stock. Only for this particular stock, Amateur Investors swapping tips on the social media site reddit saw it as an opportunity. They bought shares, which actually drove
A mission to mars china sends its 1st unmanned spacecraft to explore the red planet. Tension once again in cities of the United States in Portland Oregon Security Forces have launched tear gas and protesters have lit fires on the streets theyre angry because federal offices have been sent to control demonstrations which have been going on for 56. 00 nights but President Donald Trump has promised to deploy more officers this time to the cities of chicago and albuquerque he says is to control rising crime others say its an election stunt mike hanna reports. The concern about federal involvement was spotted by scenes like this from Portland Oregon up to weeks of anti racism protests federal troops in unmarked uniforms moved in confronting demonstrate. Is entertaining them in unmarked vehicles much to the anger of the states governor this is a democracy not a dictatorship and we cannot have secret police abducting people into and putting them in unmarked vehicles. I cannot believe i have t
Was 25 n the s p 500 better than average over the last month. We are waiting on the let us check of japan, as the pandemic puts more pressure on the economy already sliding into recession. Inflation numbers are due at this hour. Haidi lets check in on the markets. We had a pretty tepid handover from the u. S. Stocks edging higher. Volumes still below what we have seen over the past month or so. Very much a rangebound trading session. We continue to seek a new catalyst. We continue to see rising cases across the u. S. , driving the idea of a second wave. Beijing struggling with a second wave as well. Conflicting data not giving a great deal of intel as to what the future holds. We are dealing and upside on s p futures, up about. 3 . Nikkei futures also a little bit higher, japan weighing the frostburg of reopening. Also the potential demise when it comes to tourism. Sydney futures are a little bit to the downside at the moment. We could see a modest bounce at the start of trading here i
The u. S. Wrapping up pressure on beijing and it will be interesting what happens tomorrow, when the pboc reopens trade markets reopen trade and that pbo css the daily effects. Take a look at currency. It has been a mixed bag and we are watching the aussie dollar with the bank meeting today. Bank negara could be interesting expecting a 50 basis point cut later today. Are watching dollaryen summit strength low 107 now. Take a look at your commodities markets, brent crude and wti on a rebound today, gaining 6. 5 for wti. On the longest winning streak in 10 days, up for a fifth straight day and u. S. Futures also positive now. We are watching palm oil, back. We will talk about where prices go next. Lets get more analysis on these markets with our Cross Asset Team in singapore. U. S. China tensions again boiling over, keeping a lid on the markets peered what is your take on the applications . The u. S. Will often come out and say things, especially the Trump Administration, and sometimes t
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