haidi: good morning. this is a break australia. sophie: -- kathleen: and from bloomberg's world headquarters in new york, i'm kathleen hays. u.s. stocks hit a record high as

investors get ready for -- haidi: us really a announcing a relief package for those affected by the great sydney lockdown. shery: didi warns of adverse impacts after complying with the chinese order to take down more apps. more records, a lot of optimism building up as quarterly corporate earnings gary to kickoff. the s&p 500, its 39th record close so far this year. still fairly impressive, 911 sectors advancing today. the nasdaq hitting a record powered largely by investors buying up tesla, google parent alphabet, meg attacked back in style as investors thinking growth is the trade to play. -- mega tech back in style.

the s&p 500 index gaining nearly a full percent. we will start hearing from u.s. banks tomorrow and that's generating a lot of excitement in the stock market. the u.s. 10 year trading about where it was yesterday. a $38 billion 10-year note sale had decent demand. the three year note, not so much. let's go to sophie to see how asian markets are shaping up. sophie: futures are little changed after asian stocks on monday, the earnings picture improving, estimates back at 2008 levels. given concerns over the sydney virus outbreak, that means warnings at the upcoming meeting. the aussie dollar holding below that 70 level as markets

consider the policy outlook. no change expected as we got a rate hike at the four biggest banks. staying range bound ahead of the chinese trade. we did see chinese tech jump on monday even though china imposed new rules. we saw tech names joining the rise and mainland stocks and bonds on monday. over at bloomberg intelligence, they are saying plenty more worried for broader markets. countries like south korea may want to think twice about reeling back the pandemic support when it comes to easing. kathleen: u.s. stocks, gauging

whether corporate profits can support lofty valuations. let's ring in the co-cio at investment pnc. what is the message? we had a big selloff thursday, friday, monday, more records being set. what's driving this and are you on board? dana: thanks for the question and thanks for having me. it's been a volatile experience and markets have a lot of different conflicting pieces of information. on one hand, the fomc becoming more hawkish than they have been . the fed funds rate, if you look at futures, looking at a rate as early as 2022, to rate hikes in 2023. we have consumers with a lot of cash, we have a reopening, and we have certainly see concerns indicating that it is steam ahead in terms of reopening and

the economy getting going again. i think conflicting information. and then the virus getting back into the news now. kathleen: value is worth looking at now. why? dana: i'm a long-term proponent on value and i don't think we've seen the end of some rotation there. low-priced stocks in general, what we saw last year and a greater interest in tech names, with expectation of that being because you are sitting at home, you have to go online to dupree much anything. we are still going 20 look at price as an indicator, particularly now as we have the economy reopening. three opening is not going to be smooth. we have detail that looks at actual credit card spends showing indoor entertainment,

movie theaters, etc., they are still not opening. we are not seeing that getting anywhere near pre-pandemic levels, so some caveats there. haidi: that is exactly what i was going to get to. the covid variant spreading globally and concerns the u.s. has may be plateaued when it has come to vaccine take up. are there spaces in the reopening trade that are better hedges than others? dana: i think you've got it right. our data is showing the outdoor type of entertainment, major league baseball is opening back up, that is an area where we see that interest and expectation. indoor, even airlines, getting back to pre-pandemic levels, we are not seeing that in the data yet. and they covid variants are part

of it. you can mask all you want but at the end of the day, if you are concerned about covid, indoor is going to be more tough than outdoor. haidi: what do you see developing within esg? dana: a huge area, obviously. we track growth in retail investors on our website. it has been over 100% growth year over. it's the fastest growing segment on any impact tag, whether environment, social, government, across the board. huge growth, more interest from advisors, more interest from broker-dealers. we expect that to continue. kathleen: your clientele is retail investors. what are you seeing in crypto? dana: what i'm seeing in crypto is advisors looking for way to have an on to this because clients are doing it, they are

doing it in coinbase, doing it and paypal, not their managed account. so buyers want to have control over every aspect of the investments the client is making and there's a lot the advisor can do. you can offset the taxation of crypto. perhaps the advisor can offset those for you on a managed site. so there's a lot of reasons they want to help their clients with that but it is hard to get an on-ramp in that space. there is no etf and no sign of the ftc approving and etf. haidi: great to have you with us. let's get you over to vonnie quinn with the first word headlines. vonnie: good morning. the u.k. prime minister urging bull to stay vigilant after most pandemic restrictions are lifted next week. england faces up to 2000 hospital cases a day between 100

and 200 deaths a day. a new vaccine resistant variant emerging. >> this pandemic is not over. this disease, coronavirus continues to carry risks for you and your family. we cannot simply revert instantly from monday the 19th of july as it was before covid. we will stick to our plan to lift legal restrictions and social distancing. vonnie: confirmed cases in the united states up by 40% for the week ending sunday. the increase came as the delta variant spread while vaccination rates continue to fall. covid-19 infections in new york city climbed for the first time in months, doubling over the last two weeks. dr. anthony found she says ideological rigidity is

preventing people from getting an ocular did. the cdc is looking at reports of a rare disorder in some people receiving the johnson & johnson vaccine. eta shows a small risk of developing a neurological disease. the cdc says it is about 100 preliminary reports from 12.8 million doses administered. j&j says it has been in discussions with the fda over the issue and the chance of occurrence is very low. the u.s. state department says a region in china is one of six places in the world at risk of atrocities and crimes against amenity. a report submit to congress cited a wave of actions the u.s. has taken to punish china for alleged abuses including sanctions, visa restrictions and export controls. the report highlights atrocities in myanmar, ethiopia, syria and south sudan. global news 24 hours a day on air and on bloomberg quicktake,

powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. haidi: virus cases in sydney soared as officials warned they have not yet seen at peak. coming up, didi warns of an impasse after its app for taken down in china. this is bloomberg. ♪

haidi: china's crackdown has dealt another low to tech firms after chinese regulators warned about data security. didi sans impact on its revenue after 25 mobile apps were removed. tencent also seeing an impact.

let's get more from our markets reporter. this is a continuation of the theme we have been discussing over the last two weeks. does any of this, they surprise and what are the implications? guest: it is not a complete surprise because this is an ongoing campaign from the regulatory side trying to rein in these companies and the area for focuses -- antitrust and tencent falls into that. didi is about data security. there is also a crackdown on afterschool tutoring which you could put into the category of social equality. it's really not that good for the chinese to increase the population, so it's an ongoing campaign, so it's not a complete

surprise we continue to see more crackdown in these sectors. kathleen: so many people are commenting on this inside china, outside china. this is data security, social considerations -- a lot of governments around the world are looking at them. a lot of others are saying this has much to do with the chinese government not wanting something to get too big and too powerful. and some say this is more political than economic. what do you say? ye: i think there is an overarching aim to have a more sustainable and fair growth and they do fear these big tech companies can show too much power and become a national security issue. especially with a company that lists overseas that could potentially have all the sensitive data in the hands of foreign governments. so this is a legitimate concern

from the chinese regulatory side. they -- you can argue the long-term, it will put china on more sustainable growth because they put security and a more fair and efficient approach as a top priority. at the same time, it will have near-term uncertainty and risk for economic growth. haidi: when something like this happens in china and you talk about investors trying to catch a falling knife. are there no bargain opportunities here? ye: it is interesting. that's a debate ongoing among investors. it seems like people are embracing them self for more -- are bracing themselves for more downside risk. goldman sachs publishing it today saying they typically last about 11 months. if we take the starting point of

the crackdown as last november, there are still some months ago in terms of reaching the average time for these regulatory campaigns. potentially, there is more downside to the tech companies. kathleen: thank you so much. let's get on to another big china story -- u.s.-china tension is once again in the spotlight after the state department released a new report for a sizing china's treatment of ethnic uighurs. they cited the crackdown is one of six places in the world they are witnessing or risking seeing atrocities or crimes against humanity. let's bring in our political news director. how damaging is this report and how much impact do you think it will have? guest: it is pretty significant. there are six countries they have cited in this report, which is a report submitted to

congress today. it's under the genocide presumption act. it is a seven page report and it cites a wave of action the u.s. has taken to punish china for its actions including things like sanctions, visa restrictions and export control. antony blinken, the secretary of state, basically said it represents some of the toughest foreign policy challenges on the u.s. agenda. whether this will stick or mean anything is a real question, but the fact that is being included in very tough language shows how concerned the u.s. is about these actions by china. haidi: at the same time, treasury secretary yellen is making a fresh push in brussels

to repair ties with the eu and is urging both members to confront china and russia. what are specific measures that she's asking for? jodi: she's really asking the other countries in the eu to help confront china and russia, saying she has hearkened back to this partnership and what she calls rules-based international order constructed after world war ii, saying we need your help on some of these areas against china and russia. specifically in citing china, cited china's unfair economic practices, which she called maligned behavior and human rights abuses. the biden administration has been trying to mend these

transatlantic bonds that were strained under the previous administration, but also seeking to ask for their help in taking action or at least strong wording against china and russia. haidi: coming up, elon musk defending the takeover of solarcity. we will get the latest from the proceedings just ahead. this is bloomberg. ♪

>> [indiscernible] we should not measure by the

global ownership -- we are continuing to study how we can go, looking at the cost of the system, components such as the battery, motor as well. haidi: discussing the outlook of ev production. you can catch more from the summit here on bloomberg tv. the event bringing together business leaders and investors globally to drive west practices in sustainable business and finance. elon musk testifying and course on -- in court on monday about the acquisition of solarcity. he told the court the list on a bailout and denied vowing to retaliate against any director who voted against the acquisition. joining us for the latest is our legal reporter. we saw a combative elon musk.

what are the issues at stake? guest: it was a pretty interesting five hours on the stand for elon musk in a court in wilmington delaware. he took the stand around 9:18 and spent the first that of time talking about his own personal history under questioning from his own lawyer, going through what got him to hear and then he started getting questioned by the plaintiff's lawyer. the plaintiffs in this case are alleging musk controlled both solarcity and tesla and force this acquisition through as a bailout for himself and his cousin who are partial owners of the company. he was, like you said, combative, but he was very cool. he did not raise his voice, he was sparring with the plaintiffs lawyer quite a bit, joking about how he does not take vacations,

about how he did not want to be the ceo in the first place. he just wanted to be an engineer but but it was necessary to save the company. it was a pretty interesting day on the stand. he is going to return tomorrow and i suspect it will be just as contentious. kathleen: give assessments of what came out today that will prove one side or the other, that he steamrolled the directors and his acquisition, that he had connections, family connections or what came out that suggested no, elon musk is telling the truth? chris: it's hard to say from the first day of testimony. he almost repeated a mantra that he had planned in the beginning to have solar be an integral part of tesla and its business plan and tesla was never formulated as a business just making electric cars. they are there to be a sustainable energy company.

almost in every form of answer that he gave, he repeated the mantra that he wanted solar to be a piece of this company from the beginning, that he felt he knew solarcity needed to raise money or he needed to acquire them. so it's not clear from what he said today what is going to come out or which way the judges going to lean. the judge was very stoic and did not to pits cap at all to which way he's going. musk was very defiant saying he does not have control, he has 3% interest in this company. there are 80% other rights here and he can't do whatever he wants. for an example, the plaintiff's lawyer asked about his presentations to the board and he was rejected twice by the board before they finally agreed

to acquire the company. kathleen: i guess we never expect elon musk to be anything but perhaps defiant. thank you very much. this get a look at the latest business flash. virgin galactic stock dropped after it fell as much as $500 million in shares. the company is in need of funds before its commercial debut. sources tell us broadcom, one of the world's largest chipmakers is in talks to acquire sas institute. a deal would value that between 15 million and $20 billion and would extend the expansion into software. the billionaire chairman has stepped down from the retail giant following a government led bailout.

he will resign and be appointed as honorary chairman to guide the firm's future growth. plenty more to come on daybreak australia. we will check in on the markets and more. this is bloomberg. ♪

>> this pandemic is not over. this disease, coronavirus, continues to carry risks for you and your family. we cannot simply revert instantly from monday the 19th of july to life as it was before covid. we will stick to our plans to lift legal restrictions and social distancing. haidi: boris johnson urging

people to stay vigilant after most pandemic restrictions are lifted next week. england faces up to 2000 hospital cases a day in between 200 daily deaths after those come to an end. in the meantime, the lockdown in australia's largest city is set to be extended after more than 100 new cases of covid-19 were reported on monday. premier says it is almost impossible to imagine the lockdown ending on friday while daily numbers remain so high. paul allen joins us now with her. over the next couple of hours, we will know more about the daily case counts but what do we know so far? paul: it has become essential viewing. we heard a 112 new cases yesterday in the state of new south wales which takes the total to 678. these numbers do not sound huge, considering what we just heard from the united kingdom, but you have to remember that the vaccination rate in arthralgia

-- in australia is far lower and we are dealing with the delta strain. in response to this, a new vaccine hub is being set up in southwest sydney. it would have been more effective if it had been down a couple months ago. as this lockdown drags on, the economic damage keeps piling up. new south wales and transfer of one third of the country's gdp and modeling from the treasury suggests that every week as the lockdown drags on, that equates to a $630 million hit to growth. >> an economic rescue package is being put together. what is likely to be in it? paul: that package will be a joint package between the state government in new south wales and the federal government, likely to contain payments to small and medium-sized businesses and a cash flow booster so employers can pay their staff and their bills as

well. these payments will be tax-free and they will be rolled out in other states and territories if they experience lockdowns of greater than two weeks as well. the government is trying to encourage workers to apply for the covid disaster payment. 110,000 applications have been received for that. as this drags on, those numbers are expected to rise as well. >> let's get some analysis on the measures being taken by the new south wales government, what could lie ahead from sydney. we are joined by a professor at the university of new south wales and advisor to the world health organization. we appreciate your time with us as you are also in lockdown. going off what paul had said, it seems unlikely we will emerge from lockdown. is this drip feed extension helpful? could we have come out of this sooner if we had gone hard as

fast initially? >> good morning. absolutely. we should have learned from the anxiety from the u.k. that delta spreads at twice the speed as alpha and we should have also learned from america, talking about only a number of weeks ago , 10% of their samples were delta, and then all of a sudden, that went to 30% and then to 60%, and this is highly infectious. let me give you an idea of where we have come from. sydney, with its delta outbreak, did not lockdown until day nine, when we were at 54 cases. now, this is different from the victorian recent kappa and delta outbreak. they locked down on day three when they had 25 cases and of course, at day 26 that we are up to now in sydney, they had

about 99 cases. their 100th case on day 28 ended fairly fast with kappa and delta. that was very fast. we are day 26 and we are 679 cases, so we have accelerated by 27 fold from the first week and this should tell the business sector that locking down fast actually helps you get out fast. we are going into our fourth week and we are nowhere near trending down. two of the most important control measures, when you're looking at this, is the proportion of cases that have been out in the community, not in any isolation at all, has not started trending downward at all, and then the second control measure is how many hotspots there are, and this has expanded

of course with southwestern and southeastern sydney and many suburbs that have been mentioned but we are now also exporting this into victoria and potentially south australia. so we are going to head backwards to where we were a number of months ago, when we had the northern beach outbreak. when i called for a lockdown when we had six cases, it was not because i was a catastrophe us. -- catastrophist. you don't need 15 minutes of exposure. you just need to walk into potentially what we think is a plume of small particles hanging in the air. >> i am almost afraid to ask but at the rate we are going, how long do you think it will be before we can emerge from lockdown? >> well, i was saying a couple

of days ago, three weeks to four weeks at least, given the enormous spike we had yesterday. that will be a minimum. and really, we have been in some sort of holding pattern rather than a strict lockdown. as your previous journalist has explained, this can cost up to $1 billion a week in large cities with lockdowns and so, you want to get this over and done with rapidly, which sadly, we have not. we still have some retail open for supposedly central services. we are only allowed to travel 10 kilometers. what we should have been doing is a hard and fast lockdown to stop people moving, and we have had people gaming the system, hopping in boats and going up to, you know, brisbane to watch the games, and not realizing what an enormous impact that has

on the economy, let alone people's health, and the scum of people traveling and delivering furniture in victoria, unbeknownst to them, they have exported it. in epidemiological outbreak and economic terms, we need to all do the right thing, and i cannot see us being out of this for at least two months. >> does this suggest that when people are traveling, moving furniture, which she would not necessarily have to have any contact with the people delivering the furniture to, they can leave the room, everyone can wear a mask, you can socially distance. does this suggest that people in australia are not observing these very basic steps that could help reduce the odds that they are going to get infected or transmit it to somebody else? >> good morning, kathleen. absolutely. it says to me that they will

give it to each other inside the cabin as they are driving that they did not wear their masks when they were delivering. it is hard work, lifting furniture, just as it is hard work jogging, and we tell people not to wear masks while jogging, but it is very difficult even if you put your mask back on. you have not exhaled a whole bunch of particles in an apartment, in a lift, and if you walk into that plume, of course, you are going to catch it. one thing we are not doing is what they have been doing in england, where they have been testing truck drivers coming from europe with the rapid antigen test. in england, they have been giving rapid antigen test to people to take, and test themselves. and in singapore, they test all the truck drivers coming over from malaysia and we have been very reticent to take this on because we keep being told that it does not have great accuracy. some of these tests have an

accuracy of 99.96% to 100% and even if they are only 935% accurate, -- 95% accurate, that is still good. kathleen: i want to ask you about this morning on johnson & johnson's vaccine that in a very small number of people, it is causing a rare but nevertheless important autoimmune condition and of course, there's also been some notification that moderna and pfizer can lead to some heart inflammation, those conditions as well. what do you make of this latest warning and are you concerned that even if the odds are small, this is the kind of thing that makes people hesitant. do we need more transparency so that people might have more trust in what is going on? mary-louise: absolutely, kathleen. we do need to transparency and there is a group in europe that collects all this data and from australia as well.

we actually don't need to wait until we hear about these issues each day. we need to tell the people exactly what the risks are and then put it into context. for example, when there was anxiety about the risk for clots , it was not put in context of what the risk was for women postpartum. women, after having babies, are at much greater risk of clots than people having, for example, astrazeneca, but of course, we learn to live with that because we give women antenatal care and they really have very little risk of dying because of that care. if you know what to look for, then you can be saved from any death related issue and we need to be very upfront with people and explain, look for certain side effects and go to your

emergency department immediately. kathleen: thank you. mary-louise mclaws, it has been great having you, professor at the university of new south will come and advisor to the world health organization. mary-louise: stay safe. kathleen: coming up, australia's high commissioner to singapore discusses steps to strengthen canberra's trade relationships in the new pacific region as well as that delayed singapore travel bubble. let's get the first word news with vonnie quinn. vonnie: thank you. sources tell us tiktok owner bytedance is working to comply with data security requirements after meeting with chinese government officials earlier this year. bloomberg has been told bytedance's decision was in flux even before beijing's regulatory backlash. versus say bytedance meets regularly -- sources bytedance meets regularly with them about a range of issues including data security. lawyers for the ousted myanmar

leader say four charges of corruption have been filed against her. she has been in detention since the military coup in february. she is on trial for sedition. lawyers will hear the new charges later this month. merck has learned janet yellen's pick for her department's top international jobs has been withdrawn. sources say the white house told economists that she will not be nominated. offering no reason. she is a former obama era appointee who works for hillary clinton and was slated to be nominated as undersecretary for international affairs. president joe biden is calling on cuba's government to respect the right to peaceful assembly after some of the largest protests in decades. he says the u.s. stands with cubans in their call for freedom and pandemic relief. videos posted online are set to show police attacking demonstrators. during a televised address, the

cuban president told his supporters to confront protesters. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i have vonnie quinn. this is bloomberg. kathleen: thanks. up next, big banks kick off the earnings season. analysts expect weaker results. we will have a preview, coming right up. this is bloomberg. ♪

>> you are watching "daybreak australia." time for morning calls. at scotia bank, they are saying mining stocks are a buy with the risk-reward picture looking -- related to rising interest rates, stronger u.s. dollar. scotia bank has updated its commodity price outlook. switching the board over at bloomberg intelligence, they see the potentials continued to unwind in reflation trade, inducing commodities price savings. it implies maximum bullishness into the global oil demand recovery. bloomberg intelligence looking at a falling ratio. the market may see inflation pressure falling in the

short-term so all in all, dimmed outlook for sustainable global growth. kathleen: turning to banks now, j.p. morgan chase will take center stage tuesday as it kicks off the latest traded financial earnings. rivals warned the pandemic related surge in trading revenue is slowing. su keenan joining us for more. we saw bank stocks on retreat for a while, thinking that the earnings would not be so good. today, we had quite a move in financials area people seem not nervous exactly but like they are really gearing up for this. su: we did see it moving higher with the rest of the market but you look at the big chair year-to-date, jpm's stock down -- not as much as its peers but down from that first half rally. that has a lot to do with the fact that the ceo, jamie dimon, back in june, really talking

about how you should manage expectations and trading revenue. not going to be quite as fast and furious as we saw in the earlier quarters last year. we heard from other banks. sort of tempering expectations, managing expectations down. analysts say the big question is a lot of the good news is already priced in and we will know j.p. morgan is the first to report but analysts have been expecting a weaker showing for the combined revenue of the six biggest banks, down 5%. apart from the trading revenue vocus, there are a lot of other areas that investors want to know about including lending, net interest income. dealmaking, which by the way, has been on the rise in the major banks while we have seen the trading frenzy ease up a bit and there's also big questions about return to work. we heard a lot of the announcements and the restoration of evidence and

buybacks with the exception of citigroup. each of the other five banks have announced that they will be hiking their quarterly dividend after passing the federal reserve stress test and most of them expecting them back by labor day. >> what are we expecting? >> the worst that was expected during the pandemic, these huge loan-loss reserves will be used by the bank. that leaves about $1 billion in reserve release windfall. it will be split by the three banks we are looking at. bank of america and wells fargo. they are all up on the day in the very strong rally that we saw. what we do know from analysts is that wells fargo will account for the biggest share of the total. analysts predict it will add $545 million more to its bottom

line. bank of america expected to climb 277 million and j.p. morgan chase expected to release $239 million. >> su keenan with a preview. you can get that analysis on today's edition of daybreak. bloomberg subscribers can go to dayb on their terminals and it's also available on mobile in the bloomberg anywhere app. coming up, the president talks about initiatives to make businesses more sustainable post-pandemic. we have that exclusive interview just ahead. this is bloomberg. ♪

haidi: climate change topped the agenda during the g20 summit in venice with policymakers putting pressure on the private sector to drive green efforts. our guests said that private firms -- despite climate change. corrects this is very much an important initiative. it will take some time for sovereign governments to reach consensus so that they will be very good carbon market and taxation and also, i think this

would be very important to incentivize the private sector to accelerate the process of moving the economy tonight zero, so we are watching this very closely and if there is international agreement of this, i do believe that international financial institutions should follow. >> it looks good on paper. now, it is who does what. jin: so far as the mdbs are concerned, we have worked very closely together as a team. we have worked with the world bank, adp, and we are working with other institutions to enhance investment in climate

change mitigation adaptation. last year, as you see, in 2020, there is about 66 billion dollars -- $66 billion provided by the mdbs along with funding from the private sector. the total, over $150 billion of the resources are allocated for climate change mitigation and adaptation so this is quite a number of -- it's a big amount but i think it is not enough. so far as adaptation is needed, asia, as you know, stands at a gap of $70 billion a year. so a lot remains to be done. there is cooperation among mdbs and the private sector. haslinda: it's not just about

mitigation. it's also about adaptation. the pandemic has provided an opportunity to look at things differently. resources have been reallocated from energy intensive sectors to greener sectors like health care. how can we build on that? jin: asian countries are faced with a dual challenge, recovery from the pandemic and also to sustain its economy, particularly to sustain the economy in the countries which are highly indebted. in our view, it is very much important for many countries to deal with both. in my view, climate change mitigation adaptation and growth are not mutually exclusive. indeed, they are mutually enhancing based on very good policies.

first of all, at this moment, it is very much important to ramp up efforts to contain the pandemic, which is still raging with new variants but with the vaccines rolling out, i think probably before the end of this year and early next year, we can basically bring the pandemic under control and the next issue is how to sustain the economy and recover from the pandemic. so i think that emerging from the pandemic, that human society should be well advised to pay more attention to the prodigious and enabling environment to improve the ecosystem. for the economic development and environmental protection. kathleen: that was jin liqun. you can see more from bloomberg's sustainable business

summit this week, bringing together business leaders and investors globally. coming up in the next hour, we talk to our guests about market outlook and australia's commissioner in singapore on steps to strengthen campers trade relations in the end of pacific region. this is bloomberg. -- end of pacific region. this is bloomberg. ♪

[ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪

haidi: hello, and welcome to "daybreak australia." i am haidi stroud-watts in sydney. sophie: i am sophie kamaruddin. kathleen: good evening. i am kathleen hays. now for our top stories this hour, is in stocks set to open higher after wall street hits another all-time high. investors bracing for a wave of second-quarter earnings as

concerns persist about