we are getting bhp output numbers.h quarter output coming in at 413,900 tons. 26,322um output at million barrels. iron ore output, a little more analysis as we continue to see strength in the iron ore market. but the chinese stockpile is going into expansion. whether that can continue to drive prices higher or if that ia isre -- austral extending the flagship wage subsidy program to stop the employment rate from going lower. this is bloomberg. ♪ karina: you are watching daybreak australia. the united states continues to be the epicenter of the global coronavirus pandemic as worldwide infections approach 15 million. reported numbers rose to 3.8 million in the u.s. with fatalities topping 140,000. a vaccine trial from oxford university is said to show promise while pfizer has published positive data on potential treatment. the european union is edging towards a massive virus recovery plan with a compromise on $850 billion deal. the arrangement reduces the total number of disbursements and includes new low-interest loans

bhp have issued a statement.n the uk is based on brazilian law and duplicates matters which are already covered by the substantial ongoing work of the renova foundation and are the subject of ongoing legal proceedings in brazil. bhp is fully committed to doing the right thing for the victims of the fundao dam failure." the us justice department has accused china of sponsoring hackers who are targeting labs developing covid—19 vaccines. officials have charged two chinese men who allegedly spied on us companies doing coronavirus research and got help from state agents for other thefts. the indictment comes amid a us crackdown on chinese cyber espionage. joining me now is sharanjit leyl in singapore. these are pretty strong accusations? they are indeed. the two men were apparently to form a engineering student and in this indictment which was unsealed in washington state, the two are charged with hacking computers to steal state secrets on coronavirus research from american biotech firms. not only that, they also a

the mining names a bit of a mixed bag you've got 2% pop on bhp. luxury looks positive. you can see with all of that banking news it was up 2.1% outpaced the nasdaq which didn't quiet up to 1% yesterday more on the way in the latest faang stocks moderna shares shot up by as much as 16% after the company said its early staged trial for a covid vaccine resulted in, quote, robust immune response in all participating 45 patients. many are probably losing track of all of the vaccines out there. this one was interesting we first saw the news but there wasn't a lot of evidence this peer review, we can do a lot with this. investors can be hopeful >> that's right. this data we got was hotly anticipated phase one study. moderna is one of the leaders and is one of the candidates that is furthest along in terms of trials. you mentioned the data we got back in may, on may 18 they gave us an early glimpse into what they were seeing it was criticized for being incomplete the data we got yesterday was published in the peer review confirming that all 45 patients produced neutralizing ant

bhp on the rise this morning, adding have a percent.lift volumes after putting a 4% rise in annual output. the aussie dollar testing the year-to-date high. trading above 70 before the rba releases the july meeting minutes. with the e.u. talks in focus, the euro holding gains at a four-month high. with the tech frenzy on the wall street, let's jump into the terminal. we saw the nasdaq pushing to a high and the s&p turning positive for the year. the stellar run we have seen for tech giants has them with a combined market cap of amazon, microsoft, and google. it could see the entire value of japan stock market. haidi: an extraordinary chart. joining us from our market analysis is michael mccarthy. great to have you. i want to add another chart to give another view as to this tech momentum we are seeing. the nasdaq 100, which we saw it a fresh record high, taking a look at this one measure of momentum if you can see on this terminal chart. the highest in about two decades. you look at these metrics. they look so extreme. do you expect the s

brazilians are asking british judges for the right to suebhp, the world's biggest mining company -- sue bhpworld's biggest mining company. if judges let the case go ahead, it would be the biggest class action in u.k. history. norsk hydro posted an unexpected loss in the second quarter. the slump and demand forced her to take a $200 million write-down. the company is taking measures to adjust production capacity and freezing some spending for the year. elon musk has unlocked the second chunk of his pay award. the company's stock prices hit another target, meaning he can access stock options potentially worth $2.1 billion. he unlocked the first tranche of the award in may. tesla's market value has more than doubled since then. francine: the euro strengthened to an 18 month high yesterday on leaderspean uni reached a landmark deal for a stimulus package. joining us this morning is joseph oughourlian, founder and managing partner at amber capital. we will also ask him about -- and a second. before we talk about anything minutes,the last 20-30 we understand that china says the u.s. ordered the a

bhp is facing the biggest class-action u.k. history. look to see over the deadly collapse of the dam in brazil five years ago. in manchester begins an eight day hearing on thursday to see if british judges have jurisdiction. 19 people were killed when the dam gave way. they are seeking $6.5 billion in damages. the former head of the collapsed german payments platform, wirecard, has been rearrested on claims he and other executives. losses from as far back -- executives hid losses. gainconspired to fraudulent loans. they allegedly inflated the books with fake assets to make wirecard seem more attractive to investors. latesoft failed in trade in its cloud computing business as revenue rose 37% for the june period that missed estimates for a 49% gain, much lower than the 59% jump in the first quarter. that overshadows an otherwise strong earnings report with quarterly revenue rising 13% to $38 billion, beating forecasts. itsy: softbank is weighing options on whether to sell all or part of its stake in its chip unit arm in a private deal or

one of four sectors in the green so far in 2020 and we are watching miners today after goldman rated bhp neutral call on rio tinto with anticipated demand recovery along with tightening supply among the positive catalysts. goldman says copper, steel, and cole have the most attractive prospects and valuations are no longer looking to for the sector. they are not expensive on normalized demand metrics. it is the second largest pension fund which has divested from coal producers, whitehaven and new hope, as part of plans to reduce its carbon emissions across investment by 30% 2023. taking a big picture view when it comes to power generation in australia, as you can see on the .ie chart, coal, still king down from 60% in 2018 as contribution from renewable sources rose to 21%. that is compared to 12% in 2018, haidi. wales isw south australia's most populous and energy hungry state and it is moving closer to winning itself off reliance on coal. it will match the capacity of its coal-fired power plants. andsouth wales energy environment minister joins us now. wonderful to have you with us. tel

the samarco mine was owned by brazilian company vale and anglo-australian multinational bhp, which is being sued by over 200,000 brazilians, local governments, and organizations, including indigenous tribes, whose lands were decimated by the disasterer. this is guarani indidigenous chief kara'i peru. >> what t we had, they took everything. they finished it off. hohow are e we going too survive with this polluted river? they have already told us. amy: in sports news, major league baseball has postponed three miami marlins games after at least 12 players and two coaches with the team tested positive for the coronavirus. the news came just 4 days into the new season, which was shortened, with games played in empty ballparks, due to the pandemic. the team is now quarantining in philadelphia, where they had just played. the development also forced the philadelphia phillies to postpone their home game last night with the new york yankees. in other baseball news, the tampa bay rays tweeted friday, today is opening day, which means it's a great day to arrest the killers of breonna taylor. the

bhp is facing the biggest class in u.k.200,000 claimants look to sue over the deadly collapse of the dam in brazil five years ago. a court in manchester begins an eight day hearing on thursday to see if british judges have jurisdiction. 19 people were killed when it gave way. claimants in the class-action are seeking $6.5 billion in damages. a semiconductor unit is attracting takeover interest from nvidia. softbank has been options to sell part or all of its stake in arm. nvidia is said to have made an approach in recent weeks. couldle of u.k. based arm become the biggest ever deal in the semiconductor industry. the former head of the collapsed german payments platform wire card has been rearrested on claims that he and other executives hid losses as far back as 2015. executors say he and two colleagues conspired to obtain the equivalent of $3.7 billion in fraudulent loans. they allegedly inflated the books to make wire card look more attractive to investors. coming up in the next hour of daybreak asia, the former u.s. amba

more than 200,000 brazilians are asking british judges for the the world's bhp, biggest mining companym five years ago that killed 19 people and caused lasting environmental damage. if judges let the case go-ahead, it would be the biggest class-action in u.k. history. an aluminum producer posted an unexpected loss in the second quarter as a sharp slump in demand forced it to take a $200 million write-down. it is taking measures to protect liquidity and adjust capacity, and it is freezing planned capital spending this year. that is your bloomberg business flash. a quick looket -- we see the chinese currency on the move, stocks in europe and futures in the u.s. sliding. the stoxx 600 now down 0.8%. sector perspective, all sectors in europe are in negative territory. telecoms are providing support almost, but elsewhere weighed down by numbers to the downside. -- we up, we will talk will get spanish reaction to the bailout deal but together by european leaders this week. we will talk about tesla and numbers due this week. ♪ matt: welcome back to "bloomberg markets: european open." equity i

we are seeing some gains for the asx 200, being led higher by bhp group.g earnings season could be quite painful for the industrial and transportation space. the aussie dollar holding as we are seeing continuing climbing for the greenback. checking in on bonds, aussie bonds falling ahead of a noose indicated on being priced. futures bonds have been high ahead of the sale. we have treasuries holding steady at the start of the asia session. a series of u.s. bond sales may add to pressure on rates. check out precious metals, continuing to gain as the dollar falls through from is two-year low. ubs seeing 2000 for bullion by the end of september. check out silver, above 25 with gains from the march low outpacing even the rally in gold. emerging market stocks and currencies have climbed on the back of that weaker dollar story. traders betting that the fed will keep policy accommodative when it meets this week. let's get some analysis. great to have you. get inh further do we the dollar weakness and how do we play that when it comes to the benefit for emerging ma