>> welcome to "bloomberg daybreak: australia." we are counting down to asia's major market opens. shery: i'm shery ahn.

the top stories this hour. worries over earnings. the fed and china put the u.s. stock rally on pause. haidi: u.s. listed shares of chinese company's slide as beijing pledges to rebuild shattered private sector. shery: in the senate, votes to block china from buying oil from u.s. stockpiles with beijing increasingly reliant on russian fuel. look at how u.s. futures are coming online in this session after a mixed close on wall street, the dow slightly higher, s&p 500 falling. disappointing tech earnings being fed through the market with the nasdaq 100 losing more than 2% today. we also had those numbers showing resilient labor market, sending treasury yields higher. that unexpected drop in weekly initial jobless claims leading to traders pricing in higher

odds of the quarter-point rate hike beyond next week. look at the 10 year yield at the 385 level. we are seeing a little upside for u.s. oil prices in the asian session and extending those gains we saw in new york. it was a choppy trading session with dwindling liquidity. the expiration of the wti august contract being felt across oil markets. haidi: it is kind of a choppy session in friday as well. a little bit muted as we get to cash trading set up. sydney futures up. there is some repricing when it comes to the expectations for the rba. markets seeing a better than 50% chance that the reserve bank will hike next month after unemployment numbers came in with unemployment rising further in june. the aussie dollar extending the rally as well. the jobless rate down.

that is underlying the labor market's resilience to the cycle of rate increases and pushing expectations we will see more from the rba to resume rates. we are seeing the aussie dollar holding under 68 u.s. cents, the u.s. dollar up after labor day to as well. we continue to see that theme of resilience in global labor markets even at this point in the rate hike cycle. kiwi stocks pretty flat. also watching dollar-yen, holding at that 140 level. shery: for more on the market action, emily griffey oh here with me in the new york studio. emily: for today we sawtek get hit -- saw tech get hit, both on the macro and earnings side. those jobless numbers really pushing on rates higher. we know tech stocks don't like those, but technology stocks also had to deal with worse than expected earnings. we saw netflix see its worst

stock drop in 2023, down 9.4% after its revenue forecasts were worse than expected. tesla also another big drop, 10% after missing on margins. on a weekly basis the nasdaq 100 is only barely in negative territory. we have one more day to go but we are only down .6% on the week, even though we saw this big drop in technology stocks. the dow still in positive territory today. shery: could there be more volatility with the nasdaq rebalance? emily: we have a rebalance coming. it is going into effect monday and it is not a regular orderly rebalance for the nasdaq, but a special one, because the index cannot have over 40% or the top five names make over 40% of the index. we have seen the make a cap technology stocks -- the mega cap technology stocks like apple and microsoft run-up so much.

there is so much concentration we have to have this index rebalance. for tomorrow we could see more volatility because funds that track the nasdaq 100 will have to be moving in and out of positions to match what the benchmark will look like on monday when the changes go into effect. we also have about $2.4 trillion of options expiring, or set to expire on friday. add that to the rebalancing, it is like like to be a volatile summer friday. shery: how is the breadth of the market looking now? emily: i think the rebalance is showing that the breadth is still very weak, because you have the dow higher but you have these names like apple and microsoft that are so high that we had to reconstitute the nasdaq 100. we have only seen this happen twice before, once in 1998 and

once in 2011. although we are starting to see the rally rod and out with the dow -- rally broaden out with the dow strength, we are still seeing the market concentrate at the top. shery: our cross asset reporter with the top market moves. the senate in the u.s. voted to block china buying oil from emergency u.s. stockpiles. strategic reserves are at a 40 year low following the biden administration's 180 million barrel drawdown last year to help tame oil prices. let's bring in bloomberg's political news director jodi schneider. how much will this help/ jodi: this is an interesting story in terms of the china u.s. push and pull. on the one hand the u.s. is sending its diplomats to china to try to move forward in all kinds of areas, including on economic issues.

on the other hand they are still blocking china from doing things like buying oil from the strategic petroleum reserve. this amendment was adopted in the senate to what we call the must pass national defense authorization act, which they need to pass soon before it expires and they leave for the august recess. a lot of times there are important geopolitical topics that get onto bills like this that need to pass, because they have to fund the military. this one would essentially block china from being able to use those emergency stockpiles in the u.s., which as you know are at a 40 year low. it matters more in terms of politics and relations with china, but of course there is concern about what they call the spr, and how the u.s. would be able to return to that if they

needed to do so. it is two things happening at the same time. this is similar to legislation that passed the house in january, so it may well end up becoming adopted, getting turned into that bill, the ndaa, when it goes back to the house and the president's desk. haidi: bloomberg's jodi schneider with us. still ahead, a win for microsoft and activision has the ftc opens the door to settling or even dropping its opposition to the merger. before that, fire chill investments telling traders to get a new playbook. this is bloomberg.

>> good news on inflation is it is trending down. the fed is winning this war. they are not ready to declare victory. i think they will raise rates it sounds like one more time, then

they will hold them for a longer time to try to slow the economy. we expect they will be successful in doing that. haidi: the blackstone president speaking about the fed and inflation. our next guest says markets need a new playbook, transitioning from low inflation. the head of strategy at firetrail investments joins me. new book? what does yours look like? anthony: we think investors have to look beyond the things that have worked over the last decade, i'm talking between 2009 and 2021. certainly capital markets are transitioning from an era of low interest rates, low inflation, excess liquidity, tone where inflation is sticky, we are starting to see interest rates potentially higher than many had expected and remain there, and higher volatility in markets. with that in mind it is no

longer a case of beta plays, investors have to be careful where they generate alpha in markets today. haidi: when you look at the 10 year yield, the pressure on equities looks ever higher. where are you finding the alpha? anthony: we are looking beyond the magnificent seven that have driven markets this year. they are priced to perfection, and justifiably so, but there is also an element of quality defensiveness for equity investors moving into those names and the perceived safety there. looking beyond that, we see the mid-cap part of the market, the small-cap part, trading at recessionary type levels of valuations when they look at where they traded over the last 20 years. looking beyond the mega cap growth names, looking beyond the top 100 by market cap, and looking at mid to small caps, both value and growth type names.

shery: with the possibility of a recession in more volatile markets, those smaller stocks would feel the brunt of the volatility. does that concern you even though we are seeing more bargains in that sector? anthony: equity markets are forward-looking and a lot of it is in the price already. if you are looking at the smaller cap part of the market, it is an area where bottom-up fundamental analysis has to shine. in a world where the fed will be slow to declare winning in terms of getting inflation back towards their mandated target, it is an environment where interest rates are likely to remain higher for longer. in this world, small caps are likely to find themselves under stress. so there are those names that are generating revenues, likely to continue to generate stronger

topline growth. they are the names we are focusing on, more quality defensive style names. haidi: what are you seeing so far in the earnings season? anthony: in terms of earnings, we are not expecting much of a surprise. analysts have downgraded their expectations for q2 earnings by 7.5% over the course of this year, with much of that downgrade coming in q2. we are likely to see pretty consistent earnings results in line with what analysts are expecting. we think it is more important what the companies will be suggesting for the outlook for the remainder of the year. with some talking up, but generally the outlook -- potentially the outlook, and some talking down. we are seeing bifurcation in the market. it is a scenario where you have to be highly selective to try to consider, what are the sectors, what are the companies that are

likely to thrive in a new environment for capital markets? shery: are you also factoring in the currency risk, especially given we saw the worst week for the dollar last week, and this week we are trending higher again? anthony: so volatility is manifesting itself and currency markets, as it often does. currency markets are the first to often move. we saw positive news on inflation. we saw positive news on labor markets, but we are seeing the dollar swing about. it goes to show how uncertain markets are at the moment in terms of both the interest rate outlook not only in the u.s. but other markets as well. we think inflation is returning to a more comfortable level. in china inflation is only 0% year on year, in the u.s. 3%, in japan 3.2%. that is a significant portion of global gdp, where headline inflation is returning to more

comfortable levels. but we will see volatility manifest in currency markets until we see some certainty around where interest rates level out. haidi: your top three stock picks are refrigeration, industrial gases, and copper. talk about the narratives around those. anthony: in terms of refrigeration or hvac in particular, there is some significant mega trends in place such as decarbonization. i don't need to talk to our european viewers about how hot it is at the moment. we have had the driest winter on record in 85 years in australia. we are also seeing markets and emerging markets as the tipping point, buying a new air-conditioning unit is around $10,000 u.s. per households. we saw indonesia reach that threshold. china is a significant purchaser

of air-conditioning units. we are starting to see significant demand rise in india as well. we see structural megatrends supporting the hvac sector. our favorite play is carrier. they just acquired another company in order to penetrate the market in europe for heat pumps. copper, we see structural demand from the decarbonization trade. long-lived assets in panama and zambia for one company. a couple interesting names that we think continue to generate stronger topline growth. we are seeing strong demand for the products they are producing and subsequently we think the share prices will appreciate over the next few years. haidi: is there anything with china exposure that is compelling? anthony: we have no exposure to china, but we are exposed to china via things like copper, and we also own taiwan semi conductor. as many of your guests do.

that is trading at a discount in our estimations to where it is historically traded at. we are not dealt into china at the moment. our more favorite em place today, we have a couple mexican airports, a bank in brazil, an indonesian bank. haidi: always great to have you with us, anthony, head of investment strategy at firetrail investments. you can get a wrap-up up of the stories you need to know in your today's edition of daybreak. you can tweak the stories of so you get the assets that matter most to you. this is bloomberg. ♪

76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme.

haidi: let's get to the other stories we are following on the corporate front. tsmc postponed the start of production at its signature project in arizona until 2025. the cut in revenue projection comes after it posted its first quarterly profit decline in four years. it underscores the difficulties of chipmaking in the u.s. despite washington's insistence on reducing global reliance on asian facilities. cbc capital partners raised over 29 billion partners -- cvc raised $29 billion for the private equity fund. cvc began raising its buyout fund in january and initially targeted $27.8 billion. wanda bonds have seen a record rally.

our sources say the group expects to complete the transaction as soon as this week. the company plans to use the proceeds to pay its $400 million bond due on july 23. shery: bloomberg has learned the ftc is poised to pause its in-house trial against microsoft's acquisition of activision blizzard. let's get more detail. what does this mean for the deal? sara: this is not definitive but it is one more step forward for microsoft being able to clinch this deal to buy activision. the ftc today forwarded that it would suspend its trial in its in-house court that was set for august. does not mean they pulled entirely, they could reschedule it, but at the moment this will open the door to talks with microsoft, which can now come to the ftc and make any settlement proposals they might want to make to get the ftc to bless

this deal. separately, the ftc is still pursuing its appeal of a federal court ruling which has allowed the deal to go forward. there are still legal machinations going on but this is a green light for microsoft to move closer and another step back for the ftc. haidi: what are the broader implications of the appeal going forward? sara: that is a process that will have to play out. as we reported last week, the ftc lost its effort to get a federal judge to block the companies from closing. the companies have now extended their deal deadline until october because they are also still working out things with u.k. regulators. it is not over yet. really in just a matter of a week microsoft has completely changed the trajectory for this deal, which initially looked like there was no way it would

be allowed to close, and now they are making major headway. shery: what are the implications for perhaps other deals? sara: this is actually a real positive sign for the deal market, because companies are seeing that if they are willing to be determined, hire top lawyers, spend the money and allow extra time, even in a very tough antitrust environment, they may stand a chance at getting there deals over the line. haidi: what would an in-house case restarting mean? sara: the ftc has decided to file this case in its own administrative court, which means a trial would play out instead of a full trial in a federal court. it will play out in its own court. sometimes it does that because it has a home court advantage there.

so if the trial is restarted in their own in-house court, it could mean a longer process. at the same time, microsoft may the able to move forward if it was approval from the u.k., it could close the deal and it would be more complicated if the ftc won in its own court. there would be more litigation. if they ultimately won, microsoft would have to unwind the deal. we are still very far away from that scenario. most observers of this process are thinking this is part of a bigger step back by the ftc. shery: take a look at how u.s. futures are trading at the moment. a little bit of a muted session early in the asia trading hours. we are not necessarily see much because we finished already next. investors were being pulled in

both directions. the dow slightly higher but the s&p 500 losing ground, reacting to the disappointing tech earnings. the nasdaq 100 lost more than 2%. not to mention we had more resilient labor market data. that led to treasury yields being pushed higher, which did not help tech. we had the dollar also gaining ground and reversing the losses we had seen earlier. we are talking about that drop in weekly initial jobless claims. really another sign that traders might be pricing in on the quarter-point rate hike beyond next week. haidi: much of that repricing when it comes to how labor markets quarterly are performing in the face of an aggressive cycle of rate hikes, we are seeing this in australia as well with the resilient labor market conditions now repricing expectations that we will see potentially more hikes from the

rba next month. the aussie dollar softer, hundred 68 u.s. cents at the moment -- under 68 u.s. cents at the moment. aussie futures, 1/10 of 1% higher. kiwi stocks 2/10 of 1% lower. nikkei futures, a muted upside. the boj won't tweak yield curve next week according to an ex-mof official. we are waiting for japan inflation numbers to informant whether we see bridgett is here. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small,

and once-in-a-lifetime.

haidi: the wall street journal is reporting hackers linked to beijing accessed the email account of the u.s. ambassador to china and top state to permit official for east asia. it is the latest of alleged tax

that microsoft said originated from china. -- hacks that microsoft said originated from china. stephen engle, what do we know so far? stephen: we will reach out to the u.s. embassy in beijing. i don't expect a comment necessarily right now. the u.s. state department not commenting, but we are hearing through the wall street journal, this is their report coming from sources that they did not name, that two of the most senior state department officials were part of that large alleged hack that microsoft says originated in china. that was revealed last week. that included the commerce secretary's emails. now we hear the u.s. ambassador to china as well as the assistant secretary of state for east asia, w ho is in charge and has been building up all the back channel diplomatic efforts for those big high-profile u.s.

visits to china like blinken, like yellen, like kerry. those two gentlemen allegedly had their emails hacked as part of this fairly sophisticated, according to some sources, attack more recently. it came at a time of increased u.s. china dialogue and those visits. here you are seeing antony blinken get off his plane in beijing. he is greeted on the tarmac at the beijing capital airport by nicholas burns. if this was indeed a hack from china, they were trying to glean more sensitive information about those visits as well as u.s. policy as it re-engages with its allies in east asia. when we learned last week about the gina raimondo alleged hack, the administrator of foreign affairs in beijing was asked about it. they said the u.s. should account for its cyberattacks as

soon as possible rather than spread false information and divert attention. at that time, the u.s. cybersecurity and infrastructure security agency said an investigation by microsoft determined hackers had accessed and taken out unclassified data from a small number of accounts. that is probably a key on the strategy of whomever did hack these individuals, they targeted a select number of people who perhaps -- you can get the kind of information they were looking for and would not be as detected as quickly as a massive attack. this is one we will keep watch on. we will have to get a comment or no comment from the u.s. state department. shery: stephen engle joining us from hong kong.

it has been a tough year for traders. we are talking about those simmering tensions between china and the u.s., also grappling with fears over recession when it comes to trading. the were and ukraine -- to trading and the war in ukraine. bloomberg is asking investors where they see the next risk. >> the ongoing geopolitical concerns that investors have around the world, it is still on everyone's mind what will happen with u.s.-china. that is the biggest question mark, as we see a lot of the bifurcation and strained relationships continue between the u.s. and china, particularly around taiwan. what will happen with taiwan? is there going to be a potential war between china and the u.s. with regards to taiwan? i think that is a complicated question that is on people's

minds and could be a black swan event in the future, particularly around the fact that taiwan is dominating in some conductors. -- in semi-conductors. when we think about trends with ai, it is all driven by the semi conductor industry. when you figure that taiwan dominates today in the semi conductor industry, particularly the most sophisticated chips, 90% of the world supply is from taiwan. that is a complicated geopolitical tension and is something we have to keep top of mind over the years ahead. >> how do you think through the worst case scenarios and speak to investors about what could go wrong? >> as you think about this ongoing bifurcation between the u.s. and china, it represents different opportunities for our clients to position themselves. today emerging markets are trading around a 40% discount to developed markets.

we think there is more upside in emerging markets in the years ahead, particularly given that u.s. dollar strength has peaked. and because of this bifurcation, you are seeing a new pattern that is happening in global trade. haidi: you can catch that full interview on the next big risk along with the views from other guests. the show premieres friday in new york and saturday in asia at those times on your screen. let's get you two other major stories around the world. treasury secretary janet yellen met with vietnam's prime minister in hanoi. yellen is in vietnam to promote trade ties as part of the biden administration's push to reduce u.s. reliance on china. yellen said vietnam is in her words a key partner in advancing a free and open into pacific. ukraine says any ships headed to russian court may be military

targets, escalating the risk of turmoil in food markets. it's also warned that all vessels headed to ukrainian ports could be potential carriers of military surprise. more to come on daybreak: australia. this is bloomberg. ♪ oh, oh, oh...i'll be the judge of that. oh, that's nice...

oh!! searchable, verified reviews. that's better than the ham, and i've never said that. booking.com booking.yeah fabulous surroundings... but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company.

>> the next time there is a serious selloff, which is not just a three week affair, there are a number of aspects from behavioral to that the fed is not your friend and infect will not come to rescue the market in the same way. >> the ongoing geopolitical concerns that investors have around the world, it is still on everyone's mind what will happen with u.s.-china. i think that is the biggest question mark, as we continue to see a lot of the strained relationships continuing between the u.s. and. china particularly around taiwan, what will happen with taiwan. is there going to be a potential war between china and the u.s. with regards to taiwan? that is a very complicated question and could be a black swan event. >> the biggest concern overall

is of a clash between the haves and have nots. in the western world, the clash will be between the older people and younger people. the older people are living longer and longer but the retirement benefits are not going to keep up with what they need. and the younger people are going to have to say we don't want to work that much harder just so you have a better retirement. haidi: high leading the next big risks facing investors. time for calls ahead of the asia trading day. a capita group chairman says investors are in a category five hurricane and will stay there until there is more clarity over what the fed will do over the longer term. speaking to bloomberg last month, sterling said the current real estate slump is damaging the fed's efforts to calm inflation, with lenders reluctant to striping assets. the property space offers interesting investment opportunities.

haidi: the former fed chair ben bernanke says the central bank is widely -- the central bank's interest rate hike next week may be the last over the next six months. he sees inflation falling to the 3.5% to 3% range. he suggested the u.s. would suffer a slowdown as the price of getting inflation down, however he stressed any recession would probably be a mild one. blackstone has become the first private equity firm to manage $1 trillion. an commitment tempered by a dealmaking slump that weighed on its second-quarter results. the president and ceo told us more about how the fed; tightening is weighing on the deals marke. >> this year you had a lot of concern about where inflation was going. a lot of concern about how far the fed would go. you had the banking crisis in

march. naturally you see a slowdown in deal activity. i think the good news is the tone has improved's as we work through this quarter -- improved as we work through this quarter. if you look through our credit area, our direct lending, our pipeline is up more than double than where it was 90 days ago. we are seeing more activity there, more activity in our tactical opportunities area, where we help companies and investors by providing flexible capital. our secondaries business is seeing more activity. as people feel better about the overall picture, a little more certainty, i think we will see deal volume pick up. >> are the financing markets becoming open enough for you to do something big? at what time will we see blackstone doing multimillion dollar deals -- multibillion dollar deals with partners at

that scale? >> we have done a few large deals this year. we announced at the end of last year emerson's climate technology business for $14 billion. we privatized an online event management business, a multibillion dollar transaction. we are looking at a number of things of scale. the financing markets make it trickier. you have to be creative in trying to pull transactions together. this takes some time, but the good news is we have $200 billion of dry powder, and that allows us to move when opportunities arise. i think we will see more of those opportunities over the next year. it is hard to put our finger on exactly when it will happen. i feel across our platform there will be interesting things. scale is a real advantage for us. >> let's talk about the macro environment. earlier you talked about uncertainty being the killer of

dealmaking. is some of that uncertainty clearing, particularly when it comes to inflation? jonathan: yeah, i think the good news is inflation is trending down. the fed is winning this war. what we see in this portfolio -- in our portfolio companies is lending costs coming down to less than 2%. we see wages, which were running higher than 7% last year, to growing at less than 5%. forward indicators in hiring and vacancies are also positive. the labor market is starting to soften. i think that will be helpful as the fed looks forward. what do i think happens? i think they will raise rates one more time. then they will hold them here for a longer time to try to slow the economy. we expect they will be successful. shery: the blackstone president and coo speaking to sonali basak.

bloomberg learned microsoft and alphabet are set to commit to safeguards on artificial intelligence. the pledges will be voluntary and are being made at the white house's request. the biden administration previously warwned the firms that they must -- warned the firms that they must ensure technology does not lead to harm. an internal memo by openai says it supports open licenses for committees. it suggest it is willing to use the dat -- to reveal the data it uses to train image generators. let's talk to our next guest who runs an ai firm used by traders. su keenan joins us in our studios. let me get started with your views on what trends you are seeing in terms of ai and how

wall street is using your technology. >> there is a lot of excitement about the technology, also uncertainty about where it will lead us. what we have seen is there is very quick experimentation with the technology. the early cases we have seen in at least our technology is people are using it to better search for data and discoverability. >> we should point out you have been an algorithmic guy for a while. you worked in the hedge fund field. you worked closely with stan at duquesne. he is now an investor in toggle ai. you worked for other major headphones. this has been around for a while in the quieter world of hedge fund, only recently have the banks jumped in. how are the questions they are asking you different, and the applications? >> really exciting to see this

is widening the scope of who can use the technology. the biggest evolution with respect to large language models is it enabled someone that would like to use data analytics to simply state what they would like to do, and the machine being able to understand that, find the data and run analysis. if this is a rosetta stone moment for software, it is allowing someone like siri to control the machine and get what you need done. haidi: what is the biggest risk for your business? regulatory? jan: the biggest risk at least when it comes to banks certainly does come from the regulatory side. i think there are concerns about whether or not some of the results are accurate. there are concerns about the evolution and potential abuse of this technology, but i think there are enough safeguards people are putting in place early on that we have been six

fairly able to overcome -- been successfully able to overcome that so far. shery: how broad are your clients in terms of location? is it u.s.-based, do you have more overseas clients and do their preferences differ? jan: in asia we have a number of clients, brokerage houses in korea for example. we have one in japan, and so on. that is in addition to interactive brokers in the u.s. in fidelity. our reach is very broad. the use cases do cary. there are some that are on the horizon. they will be asking the asset class from one institution to another. broadly there are a lot of similarities, which is exciting because it means there is scalability to this technology and it is changing how people are interacting with the data. su: getting back to the

versatility of ai and its applications, in the hedge fund world you are using sophisticated trades and crunching the research at a much more accelerated rate than what was possible before, but on the big banks, i understand every major bank is talking to you or already a client. what are they looking at? wealth management is an application. jan: that is where the focus is. wealth managers are looking for tools that would serve their clients better. they are trying to get that level of additional certainty. having a tool like toggle, which they are able to try by going online to test, it allows them to do that on the spot analysis of their clients. su: even critics, whether it is the sec or fed, are talking about how transformative this is. there was one quote that the internet does not make you faster, it does not make you

smarter, it makes you stupid faster. how about the rapid pace at which some of these trades can be done? is that a danger in itself? jan: to the extent that it accelerates the pace of decision-making, i don't think it is a danger in itself. we are providing a tool that makes decision-making more solid and grounded in data. people would previously have done the trade but may be have gone with their intuition. now they don't have to. they can just check the data and say i thought this was a selloff i should be buying into, it turns out i am way too early. shery: great to have you with us. coo of toggle ai with a timely conversation. our very own su keenan. if you missed any part of this conversation, tv is your function. also tune into bloomberg radio to get in-depth analysis from the daybreak team now broadcasting live from our

studio in hong kong. listen through the app, radio plus, or bloomberg.com. more ahead. this is bloomberg. ♪

haidi: football attendance records were broken in australia and new zealand as fans turned out to watch the home teams in

the opening matches of the women's football world. paul allen joins us with more. it was a big night. just to see the overall atmosphere was electric if you watch the games. how big? paul: attendance records were smashed. we often use these superlatives in the media, but 76,000 at the stadium in australia. the previous record for a women's football match and austral you, 50,000 -- in australia, 50,000. australia beat ireland 1-0. in new zealand, similar story where we have 42,000 in auckland. that beat an attendance record for any football match, men's or women's. an upset victory for new zealand 1-0 over norway. that is the first time the team has ever won a football match at the women's world cup. huge result for both sides. the best possible start in both countries because australia and new zealand soccer competes with

at least two other much more obscure overall sports that also called themselves football. shery: we have been talking about the big prize money disparity in the men's and women's games. are the big crowds going to help improve that? paul: we heard from fifa's chief women officer, she called this a watershed moment in terms of developing the women's game not just an attendance but growing the game. the key to the pay issue will be broadcast rights. it was the last 24 hours that fifa announced it stitched up rates deals for china, japan -- rights deal for china, japan, hong kong. historically, viewing numbers for this tournament have been very strong but weaker than the men's games, so the equation is simple. more viewers means you can get more money for it, which means you can address this gender pay

prize money issue. for anyone looking to strike a blow to gender pay equity, it could not be easier. just sit down on the couch, watch the matches and you can pump up the viewing figures. haidi: we will continue about the conversation about the women's world cup, the disparity when it comes to paint, not to mention funding -- to pay, not to mention funding for women's sports. a former football federation board member will talk about equity and inclusion in sport. this is what we are setting up for when it comes to the start of cash trading this friday. some repricing when it comes to expectations for the rba. the resilience of those job numbers that came through yesterday, expectations into over 50% that we will see the rba hike at its next meeting. sidney futures holding steady but muted. not much of a move with the aussie dollar. some u.s. dollar upside. that is petering through in the

start of the session. kiwi stocks down by 2/10 of 1%. also watching dollar-yen. a bit of strength in the yen, under the 140 handle. japan inflation numbers coming through as well that potentially shifts the needle for market expectations, and bond market expectations certainly, as to whether the boj will tweak at its next meeting. an ex-ministry of finance official saying they certainly don't think that will happen just yet. that is just about it for daybreak: australia. daybreak: asia is next. ♪ more exercise. eating healthier. and simply getting more sleep. because they know health isn't just a future state. health happens now. with over 150 personalized genetic reports from 23andme you can start your dna-powered health journey today.

and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com

wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies.

shery: we are counting down to asia's major market open. haidi: the top stories this hour, asia is set for a weak open after worries