So we are expecting a pretty good day here Brian Texas leading U.S. equities to their biggest rally in 9 months Hey Jules let's get over to Doug Yeah It's been a while I hope you're doing well in Australia I think it's the important to distinguish between trading a market and investing in it We had a pop here in U.S. equities today and that seemed tied to the story on investing as opposed to trading Some early analysis when it comes to the omicron variant suggests of yes more contagious than earlier versions but it's not more severe and causing harm One example GlaxoSmithKline saying that research on its COVID-19 antibody treatment is effective against the full combination of mutations on the new omicron variant So you can add a little bit of bullishness when we consider the U.S. deal on raising the debt limit We'll have a closer look at that momentarily In terms of the equities space today it was all about technology We had a rally in the NASDAQ composite picking up about 3% S&P today higher by 2% where the Dow was concerned again about just about 1.4% An all time high for Apple CEO Tim Cook has reportedly struck a $275 billion deal with China to ease a crackdown on its business there and Intel is planning to list shares of its Mobileye self-driving car business in the middle of next year We had shares in Intel today up about 3% as well Ten year treasury last quoted in New York up about four basis points where one 47 now as we get set for trading in Asia and a little bit of dollar weakness I think we're going to have to deal with that as well Brian Well that will be pleasing to many investors in Asia for sure the dollar down like that about a quarter of a percent and we'll see this mood this was a very strong mood yesterday too So I'd call it day two of investors assuming that the omicron variant is not as deadly as feared All right let's get to some of our stories here We are hearing that some of China evergreens bondholders have yet to receive over to coupon payments $2 notes sold by the unit scenery journey were due on Monday and the 30 day grace period has now ended while a default has not been declared S&P said yesterday that it is inevitable Let's get to Bloomberg Steven engel on what the big question is Can Xi Jinping can Beijing if they're not going to give a bailout Will they be able to contain a potential contagion Already ten developers smaller developers in Guangdong province and other parts of China have defaulted and more are lining up The PBOC said last week that the risks from immigrants debt crisis can be contained and it's the developers own poor management It said that got it there Well Republicans and Democrats in Congress have agreed on a deal to raise the U.S. debt ceiling Bloomberg's Kathleen Hayes tells us what the key point is here It's going to allow them to raise the debt ceiling Ultimately a series of steps without any Republican votes of this deal Mitch McConnell saying it's in the best interest of the country and in the best interests of Republicans and Schumer saying we don't want a long wrangling out here Democrats will would carry on this deal The burden of raising the debt limit but there is some procedural gimmickry And the gimmickry essentially involves two bills The first bill sets up the debt limit process and would need ten Republican votes in the Senate to advance but that itself doesn't raise the limit A second bill to raise the ceiling can then be passed with just democratic votes All right the time is 5 minutes past the hour coming up in a few moments We'll get to Frances Donald chief macro strategist at manual life asset management to get her outlook on the markets Well it is time now for global news.