haidi: right. that president trump has really sought to project an image of strength and recovery, tweeting throughout. he did the drive-by greeting in the suv yesterday. earlier tweeted saying the virus, he's urging americans not to be scared of the virus, that this has been a lesson for him. that he feels better now than 20 years ago. we know during his time at walter reed hospital, he received a number of experimental drug cocktails, antibody cocktail's, including, but we know from experts we have spoken to, it is generally only given to pretty severe cases of covid-19. we also heard from the white house physician, saying he may not entirely be out of the woods even as he leaves to go back to the white house. shery: yeah, he has received really state-of-the-art treatment. this coming at a time when we continue to see those infections rising at the white house. there you can see the motorcade of president trump leaving. he will be back at the white house where he will remain in isolation. for now

haidi: good morning and welcome to daybreak australia. we are counting down to asia's major markets open. shery: i am shery ahn. haidi: stimulus talks remained deadlocked in washington. president trump says republicans are having a hard time with nancy pelosi. she says that the current offers are grossly inadequate. pressure as they moved to calm the market. they will maintain normal monetary policy for as long as possible. president trump plans a campaign event in orlando as his doctor says he is not a transmission risk. australia debates evening travel curbs although the u.s. and europe are not on the list. shery: u.s. futures are coming after, down about 0.25%, we saw the biggest weekly increase in u.s. stocks since july. president trump an offer to democrats. nasdaq's futures under pressure. we have some deals among chipmakers leading them higher. take a look at what oil is doing at the moment. we continue to move downward. still at the $40 per barrel level. the biggest weekly gain since june. hurricane delta and libya saying that the

haidi?aidi: we will get more on china's move to suspend australia coal purchases with tim buckley. he tells us what he thinks it was always going to happen. next, u.s. leading stocks higher. we get the market outlook. this is bloomberg. ♪ haidi: u.s. stocks climb into an almost six-week high, but our next guest says she's not sure investors are truly pricing in the impact of the failure to extend coronavirus relief under the cares act. shery: joining us as spotlight asset group chief investment officer shana sissel. always great having you with us. this comes at a time where we are seeing the s&p 500 valuations at record highs. this chart on the bloomberg showing forward p.e.'s at the highest in almost two decades. how impactful will the coming earnings season be given that really every dollar below estimate could have such a big impact? shana: i think it's very impactful in terms of where the market is going to go. i think the second quarter where we saw 84% of the s&p 500 companies surpris

haidi: some -- haidi: please continue your response, kevin. you were telling me he could be released as soon as monday. kevin: president trump reported the could be discharge from walter reed medical facility as early as monday. the white house has continued to put out video statements from president trump throughout the weekend, trying to reassure the public about his health condition. it also comes as new reports question the timeline in terms of when he disclosed his illness. the wall street journal reporting that he had taken a beforeest thursday, appearing on a fox news program with sean hannity, then he awaited the test results of a more stringent, more accurate test. all of this comes as we are less than 48 hours away from the vice presidential debate in salt lake city, utah, and less than two weeks when -- from one president trump is set to take the stage again. according to the debate commission is still on schedule. trump -- he has made incredible comebacks. could he use this crisis to his advantage? we are already seeing him greeted

haidi: a very good morning. i am haidi stroud-watts in sydney. we are counting down to asia's major market open. shery: i am shery ahn in new york. welcome to "daybreak asia." stocks slide as president trump pulls the plug on stimulus talks until after the election. -- spurning jay powell's calls for urgent fiscal action. australia's virus plan will push debt and the deficit to records while the rba is willing to ease further. we are joined this hour by finance minister. the other big story today, lawmakers in washington take aim at the power of big tech. saystitrust investigation they are abusing their dominant status. australia coming online. let's turn to sophie kamaruddin in hong kong with a checkup on markets. a two day rise, we are seeing pressure come through for the benchmark while the aussie dollar is testing that 71 popl after forming a double early this october. we are seeing action in the bond space. the front end of the aussie curb slipping with the three year yield falling as much as four basis points earlier in the session. this af

haidi. aidi: of course, on what is very busy day in australia, marking it as super tuesday with not just an rba decision but also the delivery of monstrously expansionary budget later on this evening. we are seeing aussie stocks hitting off on the plants foot, up .2%. we are watching in particular in terms of the stock beneficiaries, that expansionary is it expected to benefit the likes of infrastructure equities, energy, financials, as well as retail stocks where the companies in australia have struggled through their worst profit season in about a decade. the aussie dollar a little bit higher. star risk-off when it comes to the greenback overnight and that is lending as we heard from bill evans from westpac earlier, due to prolonged strength in the aussie as well. the aussie 10 year yield falling just a little bit ahead of those twin risk events. kiwi stocks higher by .5%. shery: here's how u.s. futures are looking at the moment. we are seeing a little bit of pressure, down .1%, reversing

♪ haidi: very good morning. i'm haidi stroud-watts in sydney.e are counting down to asia's major market open. shery: i am shery ahn. here is how markets are looking right now. u.s. futures rising at the open. stockster we saw u.s. seeing its worst day in about three weeks. investors were concerned about the prospects for more government spending. we saw some conflicting reports on whether or not that is coming. the s&p 500 lost ground, 1.6%. all 11 sectors were down, led by energy stocks. it also drags down cyclicals and small caps which managed to stay in positive territory. a bearish reversal from the gains briefly seen around the open. we had record cases in europe, fears of a double-dip recession. take a look at oil because it's also under pressure and headed towards the $40 a barrel level. oil fell in the regular session as well with warning of an uncertain outlook for oil demand. see how things are shaping up for the asian markets. here is sophie kamaruddin. sophie: this tuesday, you have asia stock futures never really lower and nikkei fu

haidi: very good morning. i am haidi stroud-watts in sydney. we are counting down to is as major market opens. shery: i am shery ahn in new york. wall street closes higher on hopes of a stimulus deal in washington. itswhite house is raising offer and nancy pelosi says she is hopeful of agreement this week. fordoj sues google allegedly abusing its monopoly in what is seen as the most significant antitrust action against a u.s. company in decades. google says the government case is deeply flawed. late tradenges in after missing on subscribers last quarter. it's outlook for the current period is below expectations and investors are not happy. haidi: we are just getting a little bit more of an update on these ongoing stimulus discussions in washington, d.c. nancy pelosi saying she is optimistic a deal can be done before the election and that she is calling on committee chairs to resolve some of the differences when it comes to funding levels and language so they can get back to negotiations between her and secretary mnuchin as soon as possible, cru

haidi: i am haidi stroud-watts in sydney. we are counting down to asia's major market open. as a looks set to follow wall street higher on optimism that some kind of stimulus deal is still possible. democrats say they are open to support for struggling airlines. samsung is one to watch today. third quarter pulmonary warnings are out. the pressures up on china. sources say curbs on jack ma's group over concerns on national security. shery: we are getting south korea's current account balance numbers and the surplus right now narrowing the month of august from july, coming in at $6.56 billion. this is a little bit of a narrowing from that $7.5 billion we saw in the month of july. the balance widening. the surplus coming in at 7.0 2 7.02on dollars and -- billion dollars and this is widening from the previous month. when it comes to export numbers, we have seen the plunge easing a little bit and in september, south korea's exports rising for the first time in seven months and we are seeing the goods balance surplus widening a little bit, haidi. haidi: take a look at the open we

haidi: i am haidi stroud-watts in sydney.idential futures are a little high in tokyo and a little change in hong kong. they are moving closer to a deal with nancy pelosi saying that they are just about there. despite remaining differences. federal aid will be on the debate agenda as we head to the drop-biden round soon to -- the trop biden round two. shery: japan and south korea are coming online. japan is gaining ground. the nikkei is up 4%. the japanese yen is holding steady. of fivet that one level, after touching its strongest and one month. numbers again in contraction for the second month. kospi is graining grounds. is losing against the u.s. dollar. we heard from the finance ministers saying that korea will take action in case a side of movement. haidi: let's take a look at how it is looking when it comes to this part of the world. trading has been underway for about one hour here in sydney. we are seeing losses of about 1/10 of a percent. go into the second and final presidential debate. and potentially, there is outc

haidi: and i'm haidi stroud-watts in sydney. hour, bigories this tech lead u.s.one holding its overnight highs. australian mining stocks coming under pressure, suspending imports. the morrison government seeking clarification with beijing. investors are counting down to the latest numbers that will show if the proposed virus recovery is continuing to gather momentum. shery: japan and south korea coming online, let's get to the market action with sophie in hong kong. sophie: stocks are gaining ground, the nikkei to 25 adding .4%, softbank rising more than -- begin holding and anz coming out with upside to go long on the , and checking in on the open and south korea after an eight day game, we're seeing that event being extended. slightly under pressure but still trading on april 2019 highs, given the impetus we've seen from stop flows and current account surplus. and we have the boj decision on wednesday, some upbeat commentaries from that and president moon holding a meeting on the new deal initiative. checking in on the session in istralia, trading at a march bu

haidi: dwight scott there.ocks on the rise after the prime minister's historic victory over the weekend. we will be hearing from the chamber of commerce. this is bloomberg. ♪ . ♪ haidi: the new zealand prime minister has swept to a historic victory and says that she will use her mandate to rebuild the economy. >> we will build back better from the covid crisis. an answerronger, with to the many challenges that new zealand already faces. this is our opportunity. >> let's get some insight on what those priorities should be. with such a strong mandate, what sort of priority needs to happen for the rebuilding from unprecedented economic shock? thing that is important to business at the moment are the things that they won't do. i think that the prime minister has gone out of her way to say that there won't be any wealth taxes and there will not be capital gains taxes and so on. those were some of the areas very business was concerned. some of the hangovers from the pandemic, the business loans that they extended for

haidi: michelle cortez.'s get you a quick check of the latest business flash headlines this hour. the top copper mine cases renewed industrial upheaval as supervisors reject bhp's final pay offer and move closer to strike action. 98% of union members are bound to walk out with bhp calling for mediation to avert that stoppage. exxon fell by as much as 4% as it approached march lows after recording a third consecutive loss, increasing pressure on the $15 billion a year dividend which is the third highest on the s&p 500. exxon is forecast to have made a loss of $.30 a share. -- is joining a wave of investors betting on the reliance retail ventures. abu dhabi's sovereign wealth fund is putting money into the project and taking a 1.4% date. silver lake is increasing investment in reliance retail by 254 million. giving it a holding of just over 2%. at retail unit is now valued $50 billion. coming up next, back online, the japan exchange confirms it will resume trading later today. this is bloomberg. ♪ haidi: break

haidi: very good morning. i am haidi stroud-watts in sydney. we are counting down to asia's major market open. shery: i am shery ahn in new york. our top stories this hour. asian markets faced an uncertain start with a pre-election stimulus deal seen unlikely despite reports of progress in washington. the two sides will talk again thursday. the imf is warning of big risks still ahead for asia despite the recovery. the fund repeats that china remains fundamental to the global economy. consecutive a fifth quarter of profits and says it is on track to supply .5 million cars this year. the streak adds momentum for the stocks inclusion on the s&p 500. howi: let's take a look at we are setting up for the asian session as we continue to see the ricocheting price action in the u.s. with no stimulus deal insight. let's get it across to sophie kamaruddin to look at how australian markets have opened. i love the idea of investors like a cat chasing a laser pointer. how are we setting up today? sophie: still chasing that tail. asian stocks set to drift low

haidi: -- haidi.tesla reporting profits as it remains on track to deliver 500,000 cars in 2020. it adds momentum for tesla's possible inclusion in the s&p 500. theing is for his views, tigris financial partners cio. it was a beat when it comes to earnings on revenue, cash flow, looking ahead to a possible delivery date when it comes to the cyber track as well. is there anything not to like about this set of results? does it make investors feel better given the volatility in the stock? evaluation ofe volatility is high but they didn't record deliveries, record revenue, record profits, and even though the skeptics say that the profitability still comes from the sale of the credits, the fact that there is record demand and they are still working very hard to keep up with demand shows that consumer likes the tesla, consumers want and with what they are coming out with as far as battery technology, cars, cyber trucks, and other companies, is that electric cars are going to boom. we have already seen increa

this is bloomberg. ♪ haidi: very good morning. i am haidi stroud-watts in sydney.to is as major market opens. shery: i am shery ahn in new york. wall street closes higher on hopes of a stimulus deal in washington. itswhite house is raising offer and nancy pelosi says she is hopeful of agreement this week. fordoj sues google allegedly abusing its monopoly in what is seen as the

haidi. good morning. stimulus negotiators say that they are moving closer with nancy pelosi saying that they are just about there, despite some remaining differences. federal-aid will be a debate agenda as we had to trump-biden round two. has admitted sachs its role, reaching multiple settlements. aery: let's get started with check of the markets. u.s. futures coming online slightly higher. this after we saw u.s. stocks gaining ground in the regular session. there was optimism for another round of stimulus ahead of the last presidential debate. , andht, banks rallied reached the highest since june energy shares rebounded with oil. we will check that shortly after. small caps also gained around. we could take a look at the dollar right there. we saw again in the first time in five sessions. check out oil right now. a flood at the moment at around $40 a barrel level. , also the latest sign of opec-plus that they ford be restraining supply longer. we heard vladimir putin say that russia is able

haidi.aking a look at the market, huge price action in treasuries after trump said he was stopping stimulus tops. flattening the yield curve, can we go lower? to highlight what he had to say about this. he is in betting on lower yields and reiterated that stance with jonathan ferro on tuesday, expecting the fed will be stuck at zero in the long run and noting the absence of a large stimulus package and strong growth in the u.s., so the long and you're the top end of the range according to the tip and yields, they stay stuck in a 50 basis point range given what we have seen so far. futures continue to extend declines. we saw stocks tumbling after president trump announced his ending stimulus talks until after the election, this after jay powell renewed his warning the economy will stumble without an additional fiscal support. joining us now is the investment management cio. great to have you with us. we found that violent reaction from the halt of stimulus talks. we have seen in the markets w

haidi? karina, the world bank has approved billions for countries, and they see vaccines as part of the billions in the package to be supported through june 2020 one to help developing countries cope with the impact of the covid-19 pandemic -- to helpjune 2021 developing countries. approvingbank they're $12 billion for covid-19 vaccines for developing nations. chinese stocks, if another milestone. plus, the new apple iphone. wall street predicting it will kick off a new cycle of sales growth. we get the details and reaction from analysts ahead. this is bloomberg. ♪ turn to the markets where, as you can see on this chart, chinese stocks are within striking distance of all-time in 2007.st hit however, our next guest is cautious about changes. joining us now is the vp of china equity sales. great to have you on. of course, we are only a few weeks away from the rule changes when it comes to foreign, institutional investors being able to invest. thises, what will all of margin trading due to the

haidi: i am haidi stroud-watts in sydney. asia's markets have just opened for trade.ocked in washington. president trump says republicans are having a hard time with nancy pelosi. she says the current offer is grossly inadequate. the pboc saysf they will remain -- retain normal auditory policy as longley as possible. korea displays a weapon that may be able to deliver nuclear weapons to the u.s. mainland but kim jong-un says he is open to talk. shery: we have south korea and japan starting to trade. sof? >> the boj remains a big player in asset markets. this after we saw the index have its best week since mid august. the yen is trading steady this morning. on the data front, we have orders from japan. the pickup on a monthly basis. from korea this morning we have flash trade numbers for the first 10 days. you have the korean won trading stronger. trading at way for hundred points adding 0.4%. ground.ed also gaining we are watching this chemical company under pressure as we learned of its earnings update for the third quarter. companycerns around the given the defectiv

haidi.ident trump and joe biden will be on television in the coming hours, hosting competing town hall meetings at the same time. the president is suggesting he will face tougher questions and his opponent. joining us is the hoover institution fellow and stanford university director of domestic policy studies. he was a policy director of the romney campaign in 2012. always great to have you here on bloomberg tv and on daybreak australia today. this almost is symbolic of what we are seeing and what voters are thinking. very few have not made up their minds if you take a look at polling and the voting we have had so far. much these town halls really move the needle, are they going to be that impactful? we know you are going to be watching the supporter you will vote for. >> i think that it's right given the fact that the two town halls are at exactly the same time, just on different networks. it serves as a little bit of confirmation bias in the sense that people will end up watching the candi

haidi: very good morning. i am haidi stroud-watts in sydney. we are counting down to asia's major market opens. shery: i'm shery ahn in new york. welcome to "daybreak asia." investors weighing stimulus possibilities in the u.s. after wall street closed at a five-week high. traders are watching china's return to trade after golden week. at odds in remain washington despite the fed's call for urgent action. president trump enters the conversation, indicating he may now support a wider stimulus bill. debates -- joe biden refuses to push back his next meeting with the president. the white house rules out a virtual clash due to covid-19. we have an update from president trump's physician, dr. sean conley, about the president's covid-19 treatment, saying that the president has been responding extremely well, that his exam has remained stable while at home. president trump has completed the course of therapy for covid, saying the president can return safely to public engagements on saturday. the president was just released from hospital on monday even

this is bloomberg. ♪ haidi: the u.s.m is a top power in the asia-pacific but it suffered the biggest all and its regional standing over the past year partly over its mishandling of the pandemic. this is according to the lower -- lowy entity debt. we are joined by the director of this index. great to have you with us as always, this is a trend in terms of the pivot away from asia, the erosion of the u.s. dominance and influence across the region and the growing power of china. this has begun pre-pandemic, but it is really the virus that has exacerbated this trend. yes, the virus has accelerated history and has produced some new regional disorder framed by lame, confrontation between two great powers. it has not been great news for china either, but even worse for the united states and that -- in that it has dropped in its relative standing in the region in large part due to its handling of the pandemic both domestically and globally. this has a result in the loss of u.s. prestige. china has also emerged diplomatically dim

this is bloomberg. ♪ oomberg. ♪ haidi: very good morning. i am haidi stroud-watts in sydney.to asia's major market opens. shery: i'm shery ahn in new york. welcome to "daybreak asia." investors weighing stimulus possibilities in the u.s. after wall street closed at a five-week high. traders are watching china's return to trade after golden week. at odds in remain washington despite theed

haidi: very good morning. i am haidi stroud-watts in sydney. shery: i am shery ahn in new york. welcome to "daybreak asia." wall street fell to its lowest in a fortnight with a stimulus deal remaining elusive in washington. new data show key parts of the u.s. economy are slowing ahead of the election. the ant group is said to have won the green light from hong kong exchange. thedual listing could be biggest share sale in history. softbank makes headlines again. amassedid to have $20 billion in a stock trading movement despite a skeptical response from shareholders. let's take a look at how markets are trading at the moment. at this as we are just getting some line through when it comes to the reserve bank of australia's assistant governor. they are giving a speech saying it is more complex to assess the policy stance than it has been in the past. due to the economic and fiscal conditions at play. we will continue to monitor some of those comments and we are also looking ahead to the rba meeting minutes as well. we are seeing downside in the first couple of minutes or so, trading

haidi: that's right. unfavorable landscape that we have in the banking sector, the personal finance sector in australia, are there concerns that there is an additional layer of vulnerability at this time? emily: i think people are always vulnerable during pandemics. when there is a big economic hit, people start to think emotionally rather than rationally. i think it is worth noting that by and large, the financial industry across the world has stepped up during this pandemic. a lot of research showing that trump is in the banking industry . it has risen in quite a few countries. the real risk is that people make mistakes, you know, under pressure, people say silly things. we have seen a lot of concern inut the day traders piling and the game at the occasion of stock trading. when you talk to some of the time to they emphasize get the basics right, have a sensible stock allocation. have an emergency fund, and also think about what your life is. what do you want? do you want to stay working in a big city,

haidi: what were the biggest changes in terms of technology?aiting this 5g phones to be released, as well. mark: i think 5g was the big thing. it was a little surprising, how went. on 5g they typically, they didn't necessarily put a lot of attention and effort into explaining the benefits of such technology. i think they showed a few examples of how consumers might use 5g, whether that is through gaming or other means. but i think overall, the big focus was more expansive array of screen size options, colors, some design tweaks that i think consumers will like if they are used to the older, more squared off designs from many years ago with iphone 4 and five and a few generations before that. i think the camera improvements, particularly on the promax phone, are significant. they are well ahead of the game there. but don't forget we are talking about perhaps the most expensive mass consumer smartphone on the market. shery: that was mark with the latest on the new iphone. thank you. we have breaking news, we are hearing amc entertainment is consi

haidi: they will also need to see a big rebound continue in china.e the expectations given we have just had golden week? worked out some of the numbers, i think we should expect to get 25% year on year growth. that includes sales in mainland china. that should offset some of the lingering -- we might see in other parts of greater china and reiteration that it is going to be very disciplined in the promotions that it will be launching on the mainland, i do think that we can be expecting higher profitability in the country into next year. >> our senior analyst, catherine lim, talking through expectations for retailing. "daybreak asia," coming up next. we will be speaking to a leader about expectations in asia. ♪ quite welcome to daybreak: asia. i am shery ahn. asia's major markets have just opened for trade. facing anets uncertain start. president trump is pushing a bigger relief package but top republican in congress is not taking it. the u.s. has already imposed restrictions. antigovernment protests in thailand despite police orders to stop the rally

haidi: when you look at the muted market reaction, you have got u.s.ncing back in the early part of the session, is there a sense that there is not a lot of tension in the markets? that there is an unwillingness to let go of the positions we have built up until now even with such extraordinary news flow we have had over the past few days? exactly, this is i think getting reflected to the low volatility in the u.s. rates market, i think that is the comfort zone that leads all to holding onto their position. we had a spike in rates volatility to some shock to the markets. we could see a greater risk off figured even trying to out what the new narrative is even if we get a democratic election, it is not all negative. factorse we are going to in the negativity in the corporate tax index, but how do you interplay the larger amounts of stimulus coming into the markets? will bethat biden lathering the markets with stimulus and also the tax redistribution policies, these are quite inflationary. i think stocks are liking that narrative and i do not think people

. ♪ haidi: good morning and welcome to daybreak australia. i am haidi stroud-watts in sydney.own to asia's major market opens. shery: good evening from new york, i am shery ahn. haidi: these are your top stories. wall street gains the most in a month amid optimism on trump's health and progress on stimulus relief. the president is due to walk out from walter reed hospital this hour. the virus is spreading again across the u.s., especially in

haidi: i am haidi stroud-watts in sydney. we are counting down to asia's major market open.w wall street higher on optimism that some kind of stimulus deal is still possible. democrats say they are open to support for struggling airlines. samsung is one to watch today. third quarter pulmonary warnings are out.

haidi: these are your top stories this hour. u.s.d to a near six-week high amid a rally in big tech. nasdaq posting its biggest advance since april, as the s&p 500 extends gains. china-australia

. >> good morning i am haidi. good morning.gotiators say that they are moving closer with nancy pelosi saying that they are just about there, despite some remaining differences. federal-aid will be a debate

(upbeat music) ♪ haidi: good morning. welcome to "daybreak australia." to major market opens. shery: good evening from bloomberg headquarters in new york. stories this hour, wall street climbs to five-week highs, traders betting lawmakers will hammer out stimulus deal and central banks will stay supportive. early talks remain gridlocked in

haidi: these are your top stories. wall street lower, a unlikely.on as te

. ♪ haidi: good morning and welcome to daybreak australia.own to asia's major market open. shery: good evening from bloomberg's world headquarters in new york. lossesu.s. markets pay amid hopes of a stimulus deal. president trump is pushing a bigger relief package. australia and china tensions may as

. ♪ haidi: good morning. welcome to "daybreak australia."n to the major market opens. good evening from bloomberg world headquarters in new york. stories, the white house raises its offer on a coronavirus deal and nancy pelosi's hope lent agreement will come this week. the department of justice sued

. >> that was ripple ceo brad garlinghouse speaking to shery ahn and haidi stroud-watts.eatures live coverage of the last u.s. presidential debate starting at 8:30 a.m. hong kong time, 8:30 p.m. in new york. equity markets in this part of the world on the way down, on the heels of what happened in wall street. question is, will the middle east follow suit? your answer is coming up because it is bloomberg "daybreak middle east and that is next. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation brought to you by

. ♪ haidi this is bloomberg. ♪ init is manic like a.m. beijing.vid: we are counting down to the trade in hong kong. let's get to your markets. we are looking at the chinese currency. is giving up some influence over the exchange rates. lenders now have more rooms to