it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. haidi: a very good morning and welcome to daybreak australia. we are counting you down to asia's major market opens.

shery: good evening from new york. the top stories, central banks in focus with the ecb and fed said to hike this week and give signs on the future plans. more than 80% of boj watchers expect governor ueda to to stand pat despite target inflation. haidi: spain is headed for political gridlock with the socialist prime minister and the best position to form government. shery: australia's alliance with the u.s. on full display as high-level talks and military exercises begin. take a look at how u.s. futures are coming online early in the asian monday trading session. this of course after we saw a mixed picture friday. s&p 500 and the dow finishing almost unchanged. the nasdaq 100 was under a little bit of pressure but the s&p 500 is about 5% away from a near all-time high. so we are very elevated levels in the stock markets already and you can see the nasdaq 100 futures pushing higher earning in the asian -- early in the

asian session. this is at a time where investors have to try and see where the fed is going. we have that decision this week and is for a hike. and what happens with earnings season, 170 companies on the s&p 500 reporting earnings including microsoft and other big names like meta. about 40% of the s&p 500 running cap reporting this week so we are expecting to see that move in the markets and be a driver in the session this week as well. take a look at treasury yields. we are at 383 for the 10 year yield. two-year year at around 483. a little bit of pressure on the oil markets. the low $77 a barrel level. this of course after we saw four weeks of gains for oil prices although we have to put it into context. it is a very low volume summer season right now. haidi: that could be said for a

lot of asset classes as is the continued excitation of further volatility. we just did not know what the next few months holds. take a look at to set up when it comes to trading in asia. sydney futures looking pretty positive come up about .4%. aussie dollar also on the front foot. it has been on this upswing this month as the greenback has seen weakness but analysts are warning that risks seem to be on the horizon. so much of this depends on its relationship as a proxy to china growth and commodity demand. those headwinds when it comes to easing domestic inflation and the slowdown in china will continue to weigh. the upside's like 69 in the near term on that china growth concern. kiwi stocks up by about .2%. the dollar seeing its best week in five months.

the yen has been weakening on the back of the fading boj bet as we do expect governor ueda pour cold water over excitations that a change will come anytime soon. shery: it is all about that monetary policy path and perhaps a little bit of divergence going forward. hike, hold, or cut is the big question in what looks to be a pivotal week. kathleen hays is here with the latest. let's start with the fed and the ecb, where hikes seem to be baked in already. its messaging for future hikes is in focus right now. kathleen: seems that way. let's start with the fed. back on the rate hiking path in july. in june and was a pause to give officials time to assess the impact of the rate hikes. they are back saying more needs to be done. supposed to hike by 25 basis points up to a 22 year high. that will be to a range of 5.25% to 5.5% now.

the question is what will powell signal? what will their economic outlook, however it changes, how does that signal what happens in september? some people are betting this is going to be the last rate hike. no one pricing and cuts at this point in inflation is still too high. and recession oddsa re -- odds are still there. that will give a dovish possibility. 60% of economists surveyed in our latest survey see if 60% chance, even though that is less than it was. 25 basis point is all but guaranteed after everything ecb said. they are expected to hike to 3. 75. but what about september? will they take another 25 basis point step to 4.0? last week at the g20 meeting in india, the governor of the

central bank of the netherlands told bloomberg television that a july hike is a necessity. that is what we mean, baked in the cake. but the september move is not a certainty. they're going to watch the data and see how the inflation data goes. that is the kind of messaging we are hoping for christine lagarde to give more nuance, more signaling at the press conference after their meeting this week. haidi: and i suppose nuance is also what we are hoping for from the bank of japan. continues to be the outlier, expected to stay on hold again. the one major central bank specter to potentially cut? kathleen: let's start with the boj because they are expecting to be on hold again. governor ueda has said over and over that until the boj is convinced that their inflation rate is sustainably and stably above 2%, they are not ready to move. even though all the indicators

of the major part of the cpi report are well above 2%, not ready to move, and not even tweak yield curve control. the 10 year jgb has been bouncing up. it is the top of the range at .50 but not pushing above it. the yen and the bond market. no need to tweak ycc. as sherry pointed out earlier in our premeeting show, chile is ready to go 100 basis points for a cut. many central american banks were among the first to raise very aggressively and now starting to cut. that will be one of the interesting moves. a developing country for sure but definitely one everyone will be watching. haidi: kathleen hays there, setting up what is set to be a very busy week. we will have more analysis on those decisions around the world on daybreak asia. the former deputy governor will

be joining us at 9:40 this morning in sydney. shery: our next guest is cautious on the markets and says we are headed into a seasonably weak time of the year and good news has already been priced in. joining us is hilary kramer, chief investment officer at kramer capital research. always great to have you with us. when we're looking at the market levels right now and we are this close to record highs, what gives you pause? hilary: it is simply because we are at such a high right now and then credit, especially for the individual consumer has tightened up so much. we are not seeing lines anymore anytime someone puts out a for sale sign. open houses are going empty, and yet wall street, not main street, is still seeing money flowing. the new ipo, oddity, we like it, but when a company comes out at $35 and goes right to $50

when everyone hears ai, there's that exuberance that can really set us up for a fall if anybody reports something disappointing. shery: do you think the good news about a potentially more dovish fed and ecb after the pricing rate hikes this week is going to help at all? hilary: it should, except as kathleen pointed out, so much as baked in right now. we are still waiting for what the news is going to be, but it is nearly impossible to see we are going to have a 12 rate increase. we are going to have the 11th on wednesday. that is really all the market can handle right now and ultimately the narrative is not as terrible as everyone wants to believe it is that is on the fed committee. but i do not think anything the fed says will really make a significant difference. it is like the fed is now noise and away. it is really like, show me the

money. haidi: to be fair, you are not discounting ai as a broad somatic. where are you lasting opportunities? is it where you are seeing profitability already or further down a value chain that is not eventuated yet? hilary: it is those fallen angels stocks. it is the companies everyone has left for dead or assumed there was an insurmountable problem that would never come back and that is where i see the opportunity. ai has become such an big buzzword and has attracted so much money and now that the short-circuits as well we are going to have more volatility than ever before and we will know -- we all know at the end of the day it is that daytrading investor that will really get hurt. so where i see the opportunity, a good example would be cisco, cyy, which is institutional food service, really the largest in the u.s. because people are going back to

universities. stadiums are packed. restaurants are packed and cisco still has its overhang left from a time when all of this was closed up. that is where i see the opportunity. also with some of the energy companies. a few hours ago chevron came out with a partial earnings report and we have been trying to figure out why it i think because it looks good for chevron even though it will not be until friday when we see the ultimate earnings report. some of the banks are going to surprise to the upside, especially if they do not see any cracks in their credit portfolios. they are being so careful and have been so careful. i do not see those cracks happening except, the big elephant in the room, commercial real estate. we all know these office buildings are empty and they are still going to be empty after labor day. haidi: health care is another thing you are watching? hilary: yes, especially cvs. cvs we know as a pharmacy but

has made so many acquisitions, including into insurance. cvs is another example of what we should be buying is not into this massive strength in these hot areas, but something like cvs where there is so much concerned that their acquisitions will be hard to integrate in, or that there's so many different procedures that were elective that were put off for three years and now we are going to take place and it will cost more money. cvs is stronger than ever before and will do just fine. we think opportunity -- health care is an opportunity and we are looking at the reads that have long care -- long-term health care. physically, the baby boomer stocks, that is really really want to be looking, until we see ai really start to have applications that work. shery: a big weaken earnings for alphabet, microsoft, meta. are there any other names being overlooked given these big

giants? hilary: to me, the big name is apple. that is not until august 1, but apple is the concern because there is a slowdown in demand. how many different versions of apple can we have? how many different airpods? we had so many announcements last year in 2022, and there is already disappointment for those who are watching what the announcement might be. and it could be disappointing if people don't want to spend that kind of money to keep upgrading with apple, and apple may address this at the time, slowing demand in asia. shery: hilary kramer, great to have you with us, chief investment officer at kramer capital research kicking off this trading week for us. still ahead, australia and the u.s. show off their joint military might amid china's expanding reach in the asia-pacific. first, latest on spain's general elections as conservatives fall

short of achieving an absolute majority. you are looking at live coming from madrid. our lab report is next. this is bloomberg. ♪

haidi: looking at live pictures

from the people's party headquarters where the leader is speaking. he has been denied an outright majority. in fact, neither side in these results have been left with an outright majority. pedro sanchez denying the conservatives. pedro speaking at the moment of a clear victory. the people sardi -- the people's party winning the most seats. socialists garnering 122. a great deal of uncertainty. let's get the latest from ben from madrid. what happens from here? ben: so, it's all very complicated. the math does not add up for either of the two main candidates. that means that until somebody else can form an actual majority in parliament, sanchez remains

prime minister. the pp plus the far-right groups will struggle to convince anyone to join their alliance, so it will be difficult for them to do it. so the question really is, can sanchez cobbled together some kind of majority which will involve doing deals with particular catalan separatists? or are we going to go through a few months of negotiation, then have another election perhaps in november or december later this year. shery: i cannot imagine markets liking any of this. it just means more uncertainty and gridlock for the weeks to come. ben: exactly. analysts were recommending buy spanish stocks because all the polls were suggesting the pp would be able to form a majority, and that a more business-friendly government would be taking power. does not look like that will be the case now. shery: what exactly happened?

final surveys going into this vote, there was an understanding the right wing block could win as many as 180 seats. so what happened? ben: good question. i think there will be a lot of autopsies, particularly from the pollsters. what we can see at this stage is the socialists made a big push to mobilize their vote. traditionally the socialists do well when they keep turnout up. and they have been really trying to motivate their people this week. the former prime minister was also on the stump doing his bit, and it looks like that seems to have kind of rallied the vote in some crucial places. haidi: we will continue to watch that alongside some other political stories we are keeping an eye on including thailand's third biggest party has ruled

out joining any coalition that includes the pro-democracy move forward party. the thai leader says he's conveyed the message to the party which is leading coalition talks. it was the second biggest winner after move forward. bloomberg has learned reddish foreign secretary has postponed a planned trip to beijing this month. he decided to put off is late july visit due to his chinese counterpart's month-long absence from public view. the chinese foreign was last seen in public june 25 when he met visiting officials from russia, sri lanka, and vietnam. shery: of course we continue to see efforts to get more transparency out of china, whether it is on his economic challenges as well. we are now getting news from ources telling us that china has had a meeting ahead of the politburo meeting this week with global investors.

sources telling us that the chinese commission chairman met with some global venture capital firms to hear their concerns about investment in the country. lack of transparency, the difficulty in understanding these different regulatory crackdowns has been a key issue of why investors have been wary of china. the topix discussed at the meeting include steps to ensure global funds can continue to invest in china, according to his people -- to people speaking to bloomberg. also overseeing ipo registrations. we will try to get more insight into what is happening in china. we do have more economic data, industrial profits, and of course the politburo meeting i mentioned earlier. haidi: the numbers kind of speak for themselves and clearly there is a sense of perhaps looming urgency when it comes to shoring up global investor sentiment and confidence.

we saw chinese equities suffering their worst week last week out of four. mainland shares falling 2% even as officials released 31 measures to improve conditions for private enterprise. they are also considering easing homebuying restrictions across some of the biggest cities in china. clearly there is an underlying lack of confidence not just when it comes to the broader economic recovery, but perhaps underlying skepticism that even if we do get more stimulus measures, fiscal, monetary, that it will have limited productivity when it comes to supporting growth. we are seeing key chinese equity indices down for the year. that rally has spread to the likes of japan, india, and the u.s., and a couple of those markets are seen as alternatives when it comes to funds coming out of chinese assets. shery: we will get more clues on the state of the chinese corporate world, not to mention the rest of asia as well, as we

get earnings this week. because it is a big week in asia. companies from movie theater chains to airlines and carmakers are set to release quarterly results. we will be keeping a close watch on samsung, sk hynix, catl, and rio tinto, among many others. here in the u.s., ai takes center stage for this week's tech earnings with microsoft and alphabet reporting. in addition to reporting with microsoft's bing, alphabet may soon face competition from apple, which is creating its own ai chat model. we will also watch results from snap, meta, intel, and amazon as well. more to come on daybreak australia. this is bloomberg. ♪

shery: around 19,000 people have

fled parts of greece hit by wildfires amid record temperatures across southern europe. the greek coast guard led efforts to rescue tourists and locals on the island of rhodes. the blaze capped a week of extreme weather in the region with hailstorms and a tornado in italy, and heavy rainfall in the western balkans. haidi: searing temperatures across europe are threatening food production. the war in ukraine has already been waiting on the global food supply system. bloomberg's oliver cook reports on the short and long-term impacts of extreme heat in europe. oliver: the risks to global food supply are multiplying. already russia's invasion of ukraine destabilized global grain supplies were now there is another factor -- heat. as europe bakes, the effect on food is vast. too much heat means sometimes crops cannot be picked, or they

roast right on the branch. heat and drought. too little water means huge swaths never mature. wheat production in italy is estimated to be down 10% this year. extreme heat also means cows give less milk. financial losses will exceed the 6 billion euro figure from last year. all of this bears out in prices. take germany, which imports a huge amount of food from southern europe. inflation overall has been huge, but food prices have reached dizzying heights, and everyone susser -- suffers as a consequence. it hits consumers who pay more, even puts pressure on the ecb trying to get inflation under control. while farmers are trying to adapt, it is hard to keep up with a brave, new, hotter world. shery: bloomberg's oliver cook there. haidi: let's take a look ahead. we are watching new zealand's

justin minister -- she faces charges of reckless driving and resisting arrest. new zealand releasing trade dump data for june. also top of the next hour, manufacturing and pmi numbers for australia. shery: coming up, nab expects beijing to help boost the yuan and get the economy back on track. we will discuss. this is bloomberg. ♪ i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep er at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic!

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did you know you can get someone to shop for you? stitch fix really gets me and what i need. even better? they save me a trip to the mall. it's easy: i share my style, size and budget. and they do the shopping for me. stitch fix sends me things that fit and make me feel like a more stylish version of myself. i keep what works, and send back the rest. no subscription required. no commitment. just my style. stitch fix. shery: take a look at how we are trading in the currency space. this of course as we continue to watch any sort of impact from all the policy decisions coming out this week the fed and the ecb expected to hike rates.

we saw losses for the euro in the past week. it was a little bit of profit-taking as we have the nominal effect of the change rate at the highest on record it be expected to hike by 25 basis points this week. if we see a little bit of double schnitzel, analysts saying -- of dovish nest -- dovish nest -- the boj was in no hurry to tweak the ycc on the impact on markets. that decision expected later in the week. we are seeing support for the kiwi and austin -- aussie dollar. they have followed the chinese economy in terms of trading the last few days. the chinese yuan continues to be around the 720 level. the pboc really supporting the currency lately with stronger and daily fixing's. haidi: let's bring in rodrigo

catril from national australia bank. lots of affects action across the board. how much is going to depend on the direction for the greenback next and do you see more consolidation or do you see a further break lower? rodrigo: our view is that the dollar will break lower over the coming months but that will be driven by data releases. we have the fed this week which we think will either hike by 25 basis points but also retain that very hawkish message there is a lot of work to do because inflation remains elevated. when we look at the inflation dynamics and the leading indicators for inflation, we are quite assured that we have been gaining confidence that inflation will come down significantly over coming quarters in the u.s. and that in itself will encourage the market to believe the fed not only is done but it will be contemplating rate cuts towards

the turn of the year and there will be a significant downturn for the u.s. dollar. haidi: the nominal effect of exchange rates is that the most spence of ever. rodrigo: yeah, the euro is an interesting one because at the moment the economic data releases, particularly germany, it is not very supportive from a growth perspective. particularly when you see the resilience of the u.s. economy. yet the euro has been performing because of expectations the ecb has more work to do. this week of course course the 25 basis point hike is world priced. the messaging after that height will be super important. if they remain very hawkish the euro can sustain this support and break above 112. but if they sound doubtful about fed hikes, particularly in september, then i think the euro will struggle to break higher. shery: let's talk about the japanese yen because it has broken higher.

but really not enough. we are now continuing to see the weakness at around the 142 level and with the boj potentially not doing much, how much weaker against the u.s. dollar and other currencies could it go? rodrigo: i think that 145 level remains the big test. if it breaks higher, that is when you are probably talking about intervention. we are still a long way from there, so it leaves open room for the yen to weaken this week. the boj will be important. you guys have all these reports last week suggesting the boj is likely to stand pat. what will be important is they are going to release inflation numbers and they will be upgraded. the core reading remains are very inflated. if they show that they don't decline towards 2% this year, potentially next year, the boj will have to justify those

numbers and that will leave the dollar open for the potential for ycc to potentially be tweaked maybe in september. so we should expect volatility on friday for the yen. shery: of course much of the movement in currencies has been rate differentials. when we are talking about the boj we cannot forget about the pboc either because they seem to be going in a completely different direction as the rest of the advanced western economies. i mentioned earlier how the aussie any kiwi dollar have been dragged by weight of the offshore yuan. what can we expect there? rodrigo: quite right. the aussie and the kiwi are very risky and broad currencies. at the moment equity markets have been performing so that has been good news for the kiwi. the rates differentials are starting to help a little bit as the market sees the rba holding the cash rate for longer than the fed will do. but china is the one that is

actually impeding the aussie in the kiwi performing. much will depend on what stimulus measures announced later in the week, whether they disappoint or not. cny of course under a little bit of pressure. then we basically need to see the governments committing to some real fiscal spending. at the moment there have been a lot of announcements of piecemeal stimulatory measures but what the market is looking before the government to spend more money to reinvigorate this recovery that is losing momentum. haidi: on the balance, you would think that the risks are to the downside for the aussie from here, given those twin forces of potentially a more dovish rba. bloomberg sees it a cut going into 2024 as well as expectations that even if you get stimulus for china, that the recovery will be uncertain. rodrigo: to a certain extent. from those perspectives the fact the rba remains reluctant is not

helpful for the aussie. but we see two things. one, the driving force of the dollar declined which will be a cyclical decline if inflation continues to ease over coming months. we expect it will help lift the aussie towards $.70 towards the end of the year. the fact the rba remains the reluctant hiker will be tested by the inflation outlook. we have cpi coming out on wednesday. expected to be 1.1. pretty much in line with what we rba is thinking. there are still wages cross coming, services are still sticky, and the outlook for inflation for q3 and q4 is for higher levels and that will be a test for the rbi. shery: rodrigo catril, good to have you with us with a look at currency markets. of course as we await all the

rate decisions this week. coming up, twitter getting rid of the bluebird that has long been its signature. more on elon musk's rebrand, next. this is bloomberg. ♪

>> protecting freedom, observing

the -- and doing the daily work of building a more just and peaceful world. that is what americans and australians have been doing together for more than 100 years. haidi: u.s. ambassador to australia caroline kennedy speaking as the u.s. commissioned a worship in sydney -- a warship in sydney. this was a long time in the making and a lot of pomp and ceremony. it was just down the road from us. but the symbolism of this coming at a crucial time of uncertainty. paul: a hugely symbolic event. it underscores the enduring relationship between the u.s. and australia. it is very rare for the u.s. to commission a warship outside of the u.s., even to name it after a foreign city. it is a nod to -- while trying

to support the retaking of the solomon islands. we heard the u.s. ambassador talking about the protection of freedom and rules-based order. that is symbolic as well. talking about china without really saying china. of course china recently signed the security agreement with the solomon islands. australian a very familiar ice here. -- place here. the u.s., a cornerstone of the fence. on the other hand, china is their largest trading partner. taht diplomatic tight group, -- tightrope. shery: australia is planning to buy u.s. submarines. what are we expecting from the u.s. congress? paul: just as this warship is being commissioned down the road from us here in sydney, u.s. lawmakers were debating the future of the deal. we have republican members of the senate armed services

committee moving to block the legislation that would enable the sale of virginia class nuclear submarines to australia. that is the critical first step of this deal. the republican roger wicker saying the u.s. first has to ensure they have enough submarines for their own defense before they start selling submarines to australia. on the other hand we had an end as of the foreign relations committee calling that statement quote, foolish. where does that leave australia? the fed's minister here is pretty relaxed about it all. he said it is just political gamesmanship and he is confident this is going to go ahead and it will be business as usual and he is very happy with the pace of the august agreement proceeding. we are just going to have to see how this on full on the u.s. side. shery: let's now had to some top corporate stories where watching. alibaba has refused to participate in ant group's

proposed repurpose of shares at it holds onto 33%. ant group continues to be an important strategic partner to its various businesses. ant group announced a proposal to repurchase as much as 7.6% of its equity a day after it was fined $984 by chinese regulators -- $984 million by chinese regulators. the investment firm said it will purchase a stake in adani capital and adani housing. bain committed $120 million in capital to the company and will make available a $50 million liquidity line in the form of nonconvertible the ventures. mcdonald's is reportedly planning to spend over $673 million on opening and renovating its stores in australia. the australian business review

says the company will allocate more than $400 million on 100 new stores in the next three years. the fast food giant will also invest over $300 million on refurbishing its current stores. now to the latest on the logo change at twitter. elon musk tweeting over the weekend the social media company is getting rid of the bluebird. su keenan joins us now with the latest. so the bird is being replaced by an x. su: yes. the well-known lago, apparently musk is not a fan of it. so the interim x that will replace it, the rebranding process now underway. musk over the weekend tweeted about replacing the bird with an x and issued this video of it. a better looking x apparently is what they are going for. he has also polled his followers, should it be black or blue. as you can see, this interim x is set against a kind of black,

space-like background. musk recently said in a twitter spaces appearance regarding a logoed change, quote, it should have been done a long time ago, and we are quitting -- we are cutting the twitter local off the building with blowtorches. just six months after musk acquired twitter for $44 billion, he merged the company into x corp. in addition to looking for a way to get rid of the bird, he is also focused on a lot of other issues, none of which haven't flew -- have improved the cash flow. musk said the cash flow was still negative and blamed the 50% drop in advertising revenue as well as the company's debt load. perhaps this new slick x logo can turn things around. haidi: meanwhile, there is a

change when it comes to financing options at tesla. su: tesla is offering an 84 month auto loan or seven year loan, in addition to their previous option they had of a six-year loan over 72 monbths. musk signaled he would do this at the recent july 19 earnings call. he has not been the -- a fan of the fed and their increasing interest rates. he said we have to reduce the prices of the car because interest rate payments increase the price of the car. tesla delivered a record 4 66,000-plus vehicles during the quarter ending in june, but they have sold fewer cars than they have produced in each of the last five quarters, so they have been slashing the prices. it only makes sense they are extending the loan financing make it easier for tesla lovers

to buy the car. haidi: su keenan with the latest on all things elon musk. breaking news when it comes to kiwi trade numbers at the moment. new zealand trade balance coming in at $9 million when it comes to kiwi dollars. that is very much narrowing from 46 million prior. june at $6.3 billion per fitting slightly from 6.95 million. this tends to be a good gauge when it comes to external demand. we saw weakness when it came to the south korean trade numbers, widely considered that bellwether. seeing a bit of a weakening trade pause when it comes to those kiwi numbers. watching the kiwi dollar as

well, really seeing a little bit of resistance. of course that view for the rbnz to hold really expected to be reiterated with more inflation numbers out from new zealand as well. shery: tune into bloomberg radio to hear more and get in-depth analysis from the daybreak team. now broadcasting live from our studio in hong kong. listen to the app, room blue -- ♪

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and i've never said that. booking.com booking.yeah haidi: barbie has finally stepped out of her box and onto the big screen in a hollywood debut helmed by greta gerwig. executives discussed how they transformed the iconic character into a blockbuster movie. >> the barbie movie was kind of in development hell. how did you pull it out of that? >> our approach was different. when we started this journey, the underlying objective was to create quality content, quality experience, and make a movie people would want to watch. >> he was not interested in making glorified toy ads, so he brought in a producer with glorified shops.

you produced dollar's buyers club which was nominated for an oscar for best picture. what convinced you to make movies for mattel? >> the bench of amazing ip mattel has, the hundreds and hundreds of brands. fisher-price, american girl, hot wheels, barbie, jack-in-the-box. the list went on. i thought, my god, i grew up on so many of these brands. i have two children, they played with barbie and american girl. we have so much going on in the world right now. it is a very messy, crazy time for everybody. and i thought, wow, what better place than to work at a toy company. you are making things that bring smiles to children's faces that inspire wonder and imagination and unlock incredible things for children. and for adults, the nostalgia they have for all of these toys. emily: barbie has a complicated

history. she is a cultural icahn and a flashpoint. what is the goal with the new barbie movie? >> everyone has a relationship with barbie. everybody knows who barbie is. she is probably the most famous woman in the world. she has been to the moon, she has been president, she has done all of these things women aspire to be. i think in hiring somebody like greta gerwig, who i think is a brilliant filmmaker but she has a singular vision and an authentic voice as a filmmaker. bringing somebody like that who has just kind of a different perspective that is outside of the box that will do something differently to something like rv, i feel like that is when greatness occurs. emily: this is barbie's first film release in her 60 year history. why was now the right time? >> it is interesting that of all the movie mattel filmed since we started on this journey 4.5

years ago that this is the first movie. you would think in a lot of ways that is a lot to live up to because it is an open-ended conversation. she is an open-ended conversation. what is that movie? greta had this idea. we met with her and she said, i had this idea of a high heel and a birkenstock, and that was her leaping off point of what this movie should be. i thought, god, that is kind of brilliant. shery: of course we have talked to him several times and his point has always been trying to push the mattel world, the barbie world into the broader universe, not just to marketing. it seems that this have worked. barbie made its debut weekend in u.s. cinemas taking in $155 million in ticket sales, the highest grossing debut of the year, edging past the haul from the super mario brothers movie.

it is not just about barbie. the second one, oppenheimer, what many are calling barbemheimer. haidi: the people who have gone to do that fantastic double session when it comes to barbie and oppenheimer has been such a cultural moment. what i love about barbie, every time we spoke to the mattel head about, what is this movie, there was so much mystery around it, even after the promo photos and things were leaked, there was still a great deal of mystery surrounded. he always stayed mum. it's very intriguing that this movie in a lot of elements really turns these stereotypes and cultural criticisms of barbie as an icon entirely on its head. also really want to see oppenheimer as well. that is really giving cinemas something else to celebrate,

this biography of the inventor of the atomic bomb bringing out movie fans and history fans in droves. the box office revenue this week more than doubling from a year earlier. so this is quite the recovery we have seen from the covid doldrums, as well as a good distraction from some of the many issues that the hollywood industry is facing with the ongoing actors and writers strike still creating a big question mark over what happens with the late-summer releases, the promotion of films set to be released from here. shery: we saw some disappointing results from other movies as well. the flash, indiana jones and the dial of destiny. still it was nice to have people very amped up for this movie, especially when you saw those droves of moviegoers in pink. that was a normal sight this weekend. [laughter] haidi: we decided also to get in on the barbie pink, even though

neither of us have had time to see the movie, so we have to get onto it. let's take a look at how markets are setting up. in the pink perhaps when it comes to the start of the trading week. a huge amount of central decisions is the other thing we are watching, accommodating the bank of japan. looking pretty perky. seeing some moderation when it comes to the aussie dollar on china and demand uncertainty. dollar-yen holding at 141. daybreak: asia is next. this is bloomberg. ♪

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