Bloomberg, President Trump, New York discussed on Bloomberg Daybreak: Asia
And I'm Doug krizner at Bloomberg world headquarters in New York. We had an update for the equity markets largely due to a rally in tech. Although there were some other groups helping to lead things to the upside the dollar weaken quite a bit on a soft reading on retail inflation, the Bloomberg dollar spot index fell three tenths of one percent during the New York session. We're going to get Tokyo. Sydney, and Seoul up and running at the top of the hour. Details on markets in a moment right now. This hour's top business stories President Trump says he feels no pressure to resolve the trade dispute with China Trump appears to be disputing a paragraph in the Wall Street Journal story on the looming talks and a tweet Trump said it's actually Beijing. That's feeling the heat. The message suggests the president is determined to enter negotiations showing strength Chinese official. Of already felt burned by US, backtracking, and Pryatta cts. Goldman Sachs has named a second in command when David Salomon become CEO. John Waldron will be the next president and chief operating officer. He is currently head of investment banking now Solomon Waldron. I work together at Bear Stearns and their ascent cements a dramatic shift in power away from the once dominant trading division at Goldman. Well, well known Hong Kong company is considering an IPO with a London listing. Bloomberg's Sophie Kamarudin has more. The firm is seeking infrastructure holdings. Led by tycoon Victor Li the company owns energy and water utilities globally. We're told seeking infrastructure is talking to investment banks and while discussions are ongoing. They may not lead to a deal. See he infrastructure has built a stable of British assets over the last decade from water and gas to rail transport. The company sibling Hutchinson has infrastructure assets in Australia, Germany and Canada, so become reading Bloomberg daybreak Asia. The microlending business of Nobel prize winner Mohammed Yunus is now operating in Japan. Grameen Bank will be providing initial loans of up to eighteen hundred dollars to struggling entrepreneurs and workers about one in six people live in relative poverty in Japan. Now the unit is headed by university. Professor, Masahiro Khan and aims to be profitable. Within five years. We saw another move high for US stocks with more from Bloomberg's Charlie Pellett in this Wall Street wrap. Gains in the information technology and healthcare groups helped to propel stocks higher for a fourth day. Investors are also keeping an eye on emerging market assets. Bob Brown is chief investment officer at Northern Trust outside of the emerging markets directly. We would like to see an important. Macro catalysts in the USA. We think it's hard to be optimistic on emerging markets as long as the fed is still on its tightening cycle. So once the fed pauses, and we see the benefit of time on the domestic policies coming into effect emerging markets that would be a good signal to get back in. But right now, I think there are better places to make money and emerging markets. That's not one of the S and P five hundred index climbed fifteen points of five tenths of one percents. The Dow advanced one hundred and forty seven points up six tenths NASDAQ up fifty nine up eight tenths of one percent in New York. Charlie Pellett, Bloomberg daybreak Asia. All right. We're at thirty four past the hour. Bryan Curtis is here now for a look at what's happening in early Asian trading. We've got. A weak dollar stronger euro, but that's not going to have any impact where you are. Or will it? Yes, it could. In fact, we've got this interesting line. I can tell you about I that seal essay and their strategists. Christopher woods says China's Yuan could zip to seven in five minutes and spur a rethink of the basket. So what he's saying is that politics really are playing a more important role now than the central banks. And he said all it would take us for Italy to blow up again, and the euro would get weaker and they'd be at seven in five minutes that was the line about the one hitting seven he said this in Hong Kong at their big conference. And he said that what would happen in the case of this is that it would possibly spur the People's Bank of China to consider removing the euro from the basket used to set the currencies trade. But anyway, that's all perhaps down the road. What we saw was the market actually interpreting the comments from the as kind of hawkish, so. So the euro strengthened. So that's precisely the opposite direction. That we just mentioned and actually what more they would cut its bond buying in in half by next month. And it sees halting new purchases by the end of the year. The rates for the moment will stay at present levels at least through the summer of next year. So anyway, the euro didn't move all the way up to a dollar seventeen right now. It's at one sixteen ninety three. It was a pretty good day for emerging markets. I don't want to tick off all these reasons. Again, you cited some a moment ago, Doug, but EM was up. What was it up? One point four percent. We had Alibaba up two and a half percent. We had ten cent yesterday up five percent here. In Hong Kong has up fifteen dollars and forty cents to three hundred twenty three eighty. So a lot of this has yes, the weaker dollar salsa the action by Turkey's central Bank, which we told you about a few moments ago. And also that tech returned to favour overnight with a pretty good gain on the NASDAQ up about three quarters of one percent, Paul over to you. All right. Thanks very much. Brian. Well, the the latest now or not major way the storms in both Asia and the United States and more as well. Continuing political storm for Donald Trump for that. And other global news is Bloomberg's Remy Inocencio, New York, Paul. Thank you. That's right, hurricane Florence. I on track to hit the US southeast could hit the economy hard as well. Possibly a one billion dollar hit to the region's egg sector. That's according to one farm lender. North Carolina is the top state in the nation for tobacco. It's also number two for hogs as well as chickens officials have also said at least nine nuclear facilities are threatened Duke Energy is shutting down in fact, its nuclear power plant because it's right in the path of the storm. Meanwhile, the Philippines, Taiwan and mainland. China are bracing for the most powerful typhoon of the year. They're forecasters expect super typhoon to hit the northern Philippines is Friday with sustained winds of two hundred sixty five kilometers. In our thousands of people have already been ordered to shelters along the same lines here. President Trump say push back against your report about the death.