shery: really interesting.pe seems to be that the 2020 lockdowns some men almost doubling the hours they spent on household tasks. but i have to say, is doubly enough given that we know how disproportionately it affects women with labor at home? those homemaking tasks fall to women, including daycare, and was schools closed during the lockdowns, not surprising. their place in the job market, it has decreased, but labor in the house has increased. haidi: i hope your -- i hope you're demanding at least quadruple, not just double home. coming up, j.p. morgan asset managers still preferring equities. she joins us with her global markets strategy. and we will take a look at china's loan primary. not expecting a change, but we get commentary about what it says about pboc quality. that's it for "daybreak asia." market coverage continues next. this is bloomberg. ♪ [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and

shery: i am shery ahn. our top stories this hour. the opec-plus alliance descends into bitter infighting, leaving a supply deal hanging in the balance. president biden scores a major victory as the plan for a global tax overhaul winds broad consensus for more than 100 countries. asian equities look set for a steady end to the week after strong economic data took wall street to another record. breaking news out of south korea. we are getting the cpi numbers year. it was 1.5 percent growth for core inflation, which is a faster acceleration than was expected at 1.4%. yarn year, headline inflation coming above the bank of korea's target at 2.4 percent, which is a slower acceleration then was asked to steal above that target for the bank of korea and not surprising given that, of course, we have that low base in 2020 and that is continuing to prop up prices. month on month cpi was a contraction of .1%. the expectation was for it to stay flat. we did have food and transportation costs rising not to mention consumer demand is recovering in

shery: i am shery ahn. our top stories this hour.us alliance descends into bitter infighting, leaving a supply deal hanging in the balance. president biden scores a major victory as the plan for a

shery: good evening. i'm shery ahn. our top stories this hour. tech drives u.s. the brink of a record. snap and twitter surging after hours on strong reports by the intel sales forecast fall short. beijing may

shery: i am shery ahn. our top stories this hour. slump in u.s. listed chinese shares accelerates.dragon index posting its biggest three-day fall on record. a big day for

shery. shery: right. comes to of course soft commodities, we have really been looking deeply at what happens to the soaring food prices. we have had global food prices at the nine-year high. it's good news when you get a report from oecd and the u.n. saying that prices are expected to come down although we will see demand growth slowing, not to mention output rising again. haidi: we have seen price rises from everything from the price of coffee beans to pizza down. this report saying we are not actually in a super cycle when it comes to price increases and demand increases and the expectations are that this a side will start to come down. this has been a concern because the worry is that the rise in prices is coming at a time when we could the more people globally being pushed into poverty and hunger as a result. shery: especially during the coronavirus pandemic. it seems that in the short-term, we could see some near-term alleviation in terms of perhaps more farmers, farmworkers returning to their lands

shery: exactly.ariant risk for emerging markets has not really been fully priced and yet. joining us is paul from bnp paribas asset management. great to have you with us. what does this mean in terms of where we will see the movement flows, whether it is stocks or bonds, because in the last few months, it seems like emerging market bonds have rallied more than stocks. paul: yeah, but there is no escaping the pull from equity, right? so investors will still want to see the equity returns. and asia, you know, the last six month has been pretty stagnant. i think this will allow an opportunity for investors to find their way back into asia. the u.s. market is actually come on the equity side, it is still a massive pole. we see a lot of returns coming out, and i think that will still be a primary asset class going into the end of 2021. shery:shery: when you are looking at opportunities in the asian markets, especially in equities, where are you looking at them? are we talking reopening, like we have seen

shery: i am shery ahn in new york. welcome to "daybreak asia."to rock the $100 billion private education industry. big investors facing risk include softbank and others. traders bracing for a busy week headlines by a

shery: good evening. i am shery ahn. our top stories this hour. jay powell says the fed has taken the first dive into taper talks but there is ground to cover before it happens with inflation still transitory. china securities regulator meets with bank executives trying to stir fears about beijing's corporate crackdowns. plus facebook sales beat but shares fall in late trade after the social network warns of slowing revenue growth. haidi: let's get to our top story now. the fed is moving closer to when it can stop supporting massive -- kathleen hays is all over this. what did we find out? do we have a clearer path now? kathleen: it is a couple of things, may be a few things, pretty clear from what the fed said in its policy statement from jay powell's remarks at the press conference today. the fomc is looking at what the timing and pace of tapering its bond purchases is going to be and we have inflation well above the fed's 2% target. it looks like the metrics now for achieving the necessary substantial further progress towards his goals depends o

shery. shery: let's return to the release of south korea's gdp numbers and year on year readings for the second quarter. it came in just under estimate. for some analysis, we are joined by bloomberg's top for the data, angela. great to have you back. what does this mean? are we still on track to the government forecast of around 4% growth this year? where are you putting growth for the rest of 2020 korea? >> thank you for having me. today's number is slightly higher than expectations. while it is boosted by the favorable base effects market, you cannot expect investment to be the key growth driver. they hosted a robust performance in the second quarter. major i.t. sectors boost the investment. it was shown that. some of the earlier optimism around it -- but what is more important for us is whether it manages to do it quickly enough. the growth outlook is on track. shery: you mentioned the ongoing outbreak of coronavirus cases. how big is the conundrum for the bank of korea when they are tryi

shery. shery: still ahead, we will speak with the food and agriculture organization's chief economist about surging food costs and the challenge of equal access to supply. up next, popular trading platform robinhood slides in his trading debut. we will hear from the ceo. this is bloomberg. ♪ >> this company has changed the definition of what is a retail investor. it changed the way people trade. >> i think that this roller coaster is something that younger traders have a hard time with. >> worth investing in considering but investors don't have to rush into it right now. >> the retail investor is more sophisticated than ever, taking control over their own finances than they ever have. robinhood has helped push investors in that direction. >> it changed how institutional investors shortstop. no one shortstop the same way because of what is going on in the meme stocks. >> you will see a growing number of folks in the industry making sure investors are fully informed and getting more access as

shery: i am shery ahn in new york. welcome to "daybreak asia." china's latest regulatory crackdown is set to rock the $100 billion private education industry. big investors facing risk include softbank and others. traders bracing for a busy week headlines by a fed decision, plus the dangers of data and earnings. the u.s. and china set for high-level talks with tensions high and cooperation at risk. haidi: this is what we are seeing when it comes to the countdown towards the start of trading across measure markets here in asia. we are seeing a pretty mixed start. traders are weighing the u.s. rally on account of corporate earnings, starting to kick off in asia proper as well as the tech sector cracked down and of course, don't forget the federal reserve meeting this week as well. we are seeing the dollar hold pretty steady in the early part of the trading session. we had that -- those trade numbers coming out from new zealand just shortly before taking a look at the annual trade deficit widening by the june numbers. sydney futures up by .3% as we

shery: take a look at the markets -- from 2019, shery. shery: take a look at the markets.tion and materials stocks leading the gains. we have foreign investors buying into local shares again despite the fact that of course we continue to see worsening cases of coronavirus already reporting record infections this week. we have seen that korea will extend the current distancing steps for two weeks. we are also watching the asx 200 under pressure. sydney's daily covid cases climbing to the highest since the current outbreak began. kiwi stocks down .2%. we are watching the kiwi dollar also closely given it weakened on reports that the government will be assessing whether to close all quarantine free travel from australia, haidi. haidi: let's take a look at the fx side of things as we continue to count down to the opening ceremony in japan. it is a holiday for most parts of the market, but we are seeing dollar yen holding pretty steady. it was a strong session for the dollar index so overnight against the likes of the yen and the loonie, we saw the dollar index giving up most o

shery: the top stories this hour. u.s.tocks extending the rally with strong earnings, more than 85% of the s&p 500 companies reporting so far have beaten this week. haidi: bit -- bitcoin gets a boost at a crypto conference. shery: australia will host the olympics for the third time in 2032. we will speak live with the sports minister. u.s. futures muted at the open after the s&p 500 gained ground for the second consecutive session. financials leading the gains. tenure yield again moving toward the 1.3% level. when it comes to wti at the moment, under a little bit of pressure but after seeing its best day since mid april. we had a report showing u.s. fuel stocks declined and bitcoin holding after surpassing the 30,000 level for the first time in a few weeks. we have been keeping an eye on bitcoin, but we've seen it fluctuating between those gains. we have more repot -- positive marks coming from the likes of elon musk. take a look this chart on the bloomberg because it's all about those cyclicals that have led to gains for

shery: good to have you on, enda curran.ur next guest says larger asian markets have done well on the reflation trade as the same inflation trends are not a concern. we are joined by belita ong, chairman at an investment company. great to have you with us. how long can we expect this goldilocks scenario to last? belita: the goldilocks scenario could last for quite a while. we are at a point where the central banks all over the world very much have a desire to keep interest rates low. unfortunately, we have not seen any significant, long-lasting signs of inflation. short-term, there are clear inflationary pressures because we are coming off a low base from last year. the thing to watch for, especially in the u.s., is that, whether or not inflation will be persistent. right now, there are lots of signs right down the road of companies offering bonuses because there are not enough people working when september rolls around and the extra payment from the government ceases and kids go back to school, we will see if people do come

shery: the top stories this hour.he fed signals it is making progress on reaching the tapered threshold. >> the first such reduction in more than a year. >> beijing may be planning to close a loophole that allows chinese companies to list overseas. what that means for big tech. across wall street, we are seeing u.s. futures muted. this after the s&p 500 ended another session at all-time highs. this is the eighth time in nine sessions in a row. treasuries continue the rally with the 10 year and 30 year yield at february lows. wti crude, we are seeing some upside right now. we had a slightly stronger dollar. we are still waiting for more clarity when it comes to the opec-plus alliance. what is happening in the bond market, it's disconnected with what's happening in the fed. fed members are perhaps a little bit more concerned about inflation because you are going to see a strong economic recovery, we should see treasury yields going higher but they are going down. the time being, it seems that bulls have the upper hand.

shery.ort-term overheating in both brent and wti, but make no doubt, upward momentum is strong. this chart showing that the 14 day relative strength index for brent's topping 70 for the third time in three weeks. haidi, technicals in this chart also showing that wti is overheating in the short-term. analysts remain bullish here it over the past year, it has crossed the level nine times but rose an average of 3.8% in the next 20 days. let's turn to bitcoin as well, holding steady after tumbling at the start of the week, following a fleeting recovery over the weekend, but more trouble could be ahead. a study of recent ups and downs suggesting that another crypto slump is approaching. let's bring in our mliv editor, garfield reynolds. great to have you with us. what are you looking at? garfield: as you point out, this key difficulty that bitcoin has faced twice before was pointed out by my colleagues. after a halving of amount of coins paid to crypto miners, you get a spike up, accompanied by t

shery. shery: let's turn to nomura.r offering cash prime brokerage services in the u.s. and europe, largely as a result of the deep losses resulting from the collapse of archegos earlier this year. nabila ahmed has more. the rumors have been broiling for weeks now so what are they doing? nabila: as you said, nomura has been trying to iranian risk and figure out the best way forward since losing almost $3 billion in that rk goes saga -- trying to reign in risk and figure out the best way forward since losing almost $3 billion in that saga. now, we have confirmation that they are definitely pulling the plug on a large chunk of their business in the u.s. and europe. they will no longer offer cash prime brokerage services, a service which allows hedge funds to borrow against their stock holdings. haidi: how does this play into the earnings outlook? nabila: numerous prime brokerage -- nomura's prime brokerage revenues are small compared to earnings from its other markets businesses, and overall, the pain finance business mak

shery: u.s.mer spending has surged at the second highest rate in nearly 70 years but that did not prevent second-quarter headline gdp numbers falling short of estimates. kathleen hays joins us now. the u.s. economic recovery is still going strong. kathleen: you will be seeing peak growth and all of that. people saw a couple things that were very important. one is consumer spending. up 11.8% annual rate, the second fastest pace since 1952. we had the big rebound last year and that was stronger but this is still going very strong so why did the headline fall short? inventories. they were down 1.1 percent. if inventories are lower, it attracts gdp. why didn't companies build inventory? because of supply constraints. they did not get the stuff to build the inventory. one more thing is inflation. the core pce price, the main inflation gauge, was up 6.1%. that is the biggest gain since 1983 so that is the story. inflation is another important indicator and that is why i want to look at this with a very

shery: we are starting to feel it.athleen hays of course here in the u.s., we are concerned about inflation. the market in asia is reacting more to the pickup in covid-19 variants and chinese tech regulations according to sylvia jablonski. great to have you with us. inflation, covid-19, chinese tech crackdown. what worries you the most? sylvia: hello. wait to talk with you today. i think right now, as it stands, the tech regulation is what worries me the most area it is starting to feel a little bit anticompetitive, starting to really of these major tech leaders are actually being held back in terms of their ability to innovate and grow. we saw most recently with the request to remove the didi app the impact that had on the stark in the u.s. market but alibaba also suffered a massive fine. there are all of these issues that i think have really sort of put a little bit of a stay on the capital markets and china and i think that with that will come a lot of volatility and pullback in the near term. that does not necessar

shery: good evening. i am shery ahn. our top stories this hour. agent docs are on track for the worst week since may as fears grow that a virus resurgence could hamper the global economic recovery. pfizer plans to seek u.s. emergency authorization for a booster dose of its covid-19 vaccine. it says trial showed dramatic positive results. local taxation tops the agenda as g20 finance ministers and central bankers meet in venice. the oecd calls the proposal there. haidi: we see that reflation trade fading fast globally including here in asia. let's look at how we are setting up for the friday session. sophie: we are seeing a risk-off tone for market. futures posting lower as numbers continue for regional stocks in a shot, set for the biggest weekly drop since mid-may. at around pre-pandemic lows. hong kong stocks have been the worst hit in the region. the hang seng in the red for the year and the hang seng text gauge eyeing a bear market. they also have deepened amid the tech crackdown and switching out the chart, division signals from authorities h

shery: the st. louis fed president saying is time to start tapering bond purchases as the central banks achieved his goal on inflation and jobs. however, fed chair jay powell doesn't think the economy is ready yet. >> this is a shot going through the system associated with the reopening of the economy and has driven inflation well above 2%. of course we are not comfortable with that. this particular inflation is unique in history. we don't have another example of the last time we'll -- reopened a $20 trillion economy. were trying to understand the base case and also the risks. shery: olivia, this coming out a time when powell continues to say these price pressures are transitory. olivia: that's right, but jay powell did acknowledge that they don't know if there are other factors that will come forward and make the inflation we are seeing more permanent. so we've got the first indication today that they are watching for further inflation in categories with three openings. haidi: what can we expect fr

shery: right. david kotok, always great having your thoughts, chairman and ceo at cumberland advisors. we have an alert on the bloomberg right now. tom barrack will remain in custody until his hearing, which is now scheduled for july 26th. remember, he was arrested on charges of illegally lobbying for a foreign government. he was a former top fundraiser for president donald trump. this allegation of illegally lobbying for a foreign government has stuck with several other trump associates so we will be watching these charges very closely. tom barrack will remain in custody until the hearing. he'll get a july 26 bail hearing in this illegal lobbying case. still ahead, the tokyo olympics is set to begin against all odds. we will be hearing -- we will be speaking with economic historian chelsey schneider about the implications for japan's political landscape. blue origin pulls up its first flight to space. we will hear from jeff bezos about the experience and his plans for unlocking opportunities in th

shery: good evening from bloomberg's world headquarters in new york. i am shery ahn.look set to snap a three-day losing streak after investors on wall street buy the dip with cyclicals and small caps driving the rally. the post lockdown

shery: and in new york, i am shery ahn. the economic recovery goal is not yet met. >> it is a handout hangover for big u.s. banks. plus, in no mood for talking. the u.s. has a dialogue with china, as the biden administration pardons. breaking news out of chile, the central bank has raised from .5% from -- .75% from .5%. they tightened monetary policy this year following brazil last month. also, chile is forecasting annual inflation well above the 3% target big coming the latest -- becoming the latest emerging market to raise interest rates to .75% for the first time since the onset of the pandemic. it is all about inflation as the inflation debate is raging across the u.s. here, take a look at the market, because of course we heard from chair powell, also saying that the u.s. economy has not recovered enough to scale back that mid-day decline in equity markets. we saw the s&p 500 touching all-time highs before finishing higher by .1%. we had the 10-year yield also falling below one point 4%. we are seeing it coming back a l

shery. shery: let's take a look at earnings here because we are focused on up shares after hours. the company declined to give sales guidance and warned of slowing growth ahead. we are seeing after our pressure at the moment. tim acknowledging supply constraints while touting his performance in china. mark gurman has more on this. markets seem to be focused more on the negatives here but there were plenty of positives as well. mark: the positives happened in the third quarter. they reported $80 billion in revenue, shattered even the most optimistic expectations. the iphone 12 generated 39 billion dollars in sales, which is a landslide all-time record for the june quarter. investors and analysts are looking towards what is next. apple said that although they will grow double digits over -- year over year for revenue, they did say the growth rate is going to slow primarily due to slower growth in services. services grew in the third quarter by 33% so by one third, because of continued usage of

shery: what are we hearing in the timing? lot of companies are listed in the u.s. >> it's a little bit different from ant. ant was going to be listed in hong kong and shanghai. the ipo was pulled before it hit. the timing is very interesting that this regulatory action will be coming after their ipo's. we're hearing from the dow jones reporting, regulators went to day debefore the liking urging or asking them to halt or suspend the ipo to conduct the extensive internal review of their security apparatus and security steps. we're hearing from that story is that didi interpreted it as an suggestion. you can tell that the ipo went ahead as planned. it's going to have to be for investors, especially in the united states when it comes up tuesday night, our time in asia, just how hard they'll be hit. shery: as you mentioned about softbank, it is recovering little bit here today. we're showing you the stock check now. we reached record highs back in march. certainly we are seeing the ones that are backing that hit yesterday. rishaad

shery: good evening. i am shery ahn. our top stories this hour.says the fed has taken the first dive into taper talks but there is ground to cover before it happens with inflation still transitory.

shery: is netflix a cell for you that? -or-are you sell for you?ping a bigger company will acquire it and you could see bigger profits there? >> ultimately i think netflix has to be an acquisition target. there are three or four major companies that do not have a content streaming producer. microsoft, being one of the biggest. facebook, and google could buy them. specifically, comcast, which is not getting anything like what ryan roberts would like to see from peacock, there streaming entry. -- their streaming entry. they made a close and tough bid to buy 20th century fox and lost out to disney. they might just wait around long enough for the share parks of netflix to come down to earth, and then skip them up. but i do not see netflix as a standalone five years from now. shery: interesting. porter bibb, managing partner of mediatech capital partners, thank you. you can also turn to your bloomberg later for more on netflix' second-quarter earnings. this is bloomberg. ♪ shery: bitcoin seeing a little upside now but still below the $31,000 level in th

this is bloomberg. ♪ shery: hello and welcome to "daybreak asia." i am shery ahn in new york.sophie kamaruddin in hong kong. we are counting down to asia's major market opens. haidi: i am haidi stroud-watts in sydney. bitcoin falls back. amazon denies plans to accept

shery: good evening from bloomberg's world headquarters in new york. i am shery ahn. beijing warns china's biggest companies of a wider crackdown on data security and overseas listings as didi's u.s. shares plunged below their ipo price. samsung is set to report a huge gain in quarterly earnings on its memory chip business. we will break the numbers this hour. nomura pulls the plug on a big chunk of its had fund business after the hit from the arcade ghosts -- hedge fund business after a hit from the arcade ghosts -- archagos crash. this is a much wider and bigger surplus than we saw in the previous months of only about $2 billion. when it comes to the goods trade, also rising to 6.367 billion dollars. we did have very strong export numbers for the month of april and may. gains of over 40% although easing a little bit in june given the base effects but no, we are seeing the made goods trade surplus rising to more than $6 billion in the and australia. sophie. sophie: we are seeing a risk-off tone. u.s. e-minis lower after u.s. stocks snapped a seven day advance so asia

shery: good evening. i am shery ahn. our top stories this hour.ck for the worst week since may as fears grow that a virus resurgence could hamper the global economic recovery. pfizer plans to seek u.s. emergency authorization

. >> i am shery ahn, the top stories this hour. u.s. stocks fall. consumer and tech weighing on the s&p 500. >> jay powell defending the fed while admitting he is uncomfortable with inflation. they see tapering around the end of the year. >> the biden administration set to aim its warning on hong kong at investors as fears of shrugging off the risks. look at the markets right now, on wall street, we are seeing u.s. futures down .1%. the s&p 500 saw the afternoon sale, we had fed chair powell because dovish testimony. this is really giving rise to those growth concerns. that is below that 1.3% level. we have the dollar rising. demand has been up for a third out of fourth sessions -- four sessions. what was really interesting to me, take a look at the bloomberg. today, interesting, both are small caps as law -- as well as large tech. it might be that we are going to see the 10 year yield decline. when it comes to the nasdaq 100, that rotation to growth continues. when it comes to the month of july, bloomberg data has risen an average of fort hunt -- 4

shery ahn, thank you so much.ming up, we had to crypto galaxy and find out where prices might be headed amid a china crackdown on mining. meanwhile, apple close at a record high, matching the january peaks. iphone sales are poised to climb. this is bloomberg. ♪ ♪ caroline: companies like coinbase, just a few with a capital portfolio in the vc firm now posting several strategic partnerships. companies that have shown more crypto conviction. of course with blockchain capital. first and foremost, tell us about your new funds. money that i keep on hearing, institutional money coming to the space. i will point is it going to get in? when will we start to see money put into work? and get a better idea of where prices are going. >> there is a lot of institutional per dissipation already in markets. we have several institutional participants including strategic partners. we have also seen it broadly across the industry in terms of validation through crypto assets directly. a lot of that is being backed up by data showing

shery ahn, the cohost of daybreak: asia, joins us now. shery, this seems unprecedented.e some of the penalties that chinese officials are considering? shery: it could be as bad as delisting, so we know it isn't surprising that didi shares hit a record low after the listing in june. and of course, this coming at a time, as you say, the cyberspace administration has pushed back on that listing in the u.s. they weren't necessarily against the ipo. they were against the data practices of didi. sources telling bloomberg that some of the penalties could be harsher than what we saw for alibaba, for example, which was a $2.8 billion fine. nothing is set in stone right now, so we still have to see how this will happen and how the chinese administration could react. emily: they're down, how could the impact hit their growth out again what does it mean for investors? shery: yeah, it's certainly one of the worst performing ipos this year, right? when it comes to the growth outlook, if the crackdown entails how they use consumer data, it could inhibit their ability to officially grow

shery: since 2008.e are now seeing beijing get into the market, whether on beijing, the crypto markets, even profit management companies under the gun at this point. this is the biggest two-day drop since 2008. it is sort of a tale of two tech trades at the moment. you are seeing the chart, showing the onshore chinex gaining. the nasdaq golden dragon index down in the double digits. when it comes to those education stocks, analysts have been slashing profit forecasts. companies like tal could worsen -- the operating losses could just worsen from here. the cost cuts one keep pace with revenue decline. some of the largest investors like cathie wood have gotten out of the market but traders have been piling into these stocks. emily: meantime, the crypto crackdown. the interview you did with the founder of ballet. you mentioned some new regulatory issues. shery: this has been another leg of the regulatory concerns in china. seven different agencies in china now releasing new guidelines, saying that online f

shery: good evening from bloomberg headquarters in new york. tech drives u.s. brink of a record as traders digest a day-lewis of data and earnings reports to -- a delucia of data and ea

shery ahn, thank you so much.oming up, we will head the crypto galaxy and find out where prices are settling, and where they will be headed amid the china crackdown. meanwhile, apple closed at a record high on wednesday, smashing its january peak. analysts forecasting iphone sales poised to claim. this is bloomberg. ♪ caroline: companies like coinbase, kraken and others some of the companies in the crypto space. for more undefined, crypto pricing and regulation, we are joined by the blockchain capital founder. tell us about the new find. institutional money is coming and it is sat on the sidelines. at one point is it going to come in? get everyone excited about at least the prices of certain assets? spencer: there is a lot of institutional participation in the market. we are seeing that with our find. we have several strategic partners, but you are also seeing it broadly across the industry in terms of allocations to crypto assets. a lot of that is backed up by data on chainsgéi. caroline: are people coming into y

shery: and in new york, i am shery ahn. the economic recovery goal is not yet met. >>

amy:his comeas dozenof bbard coty sheris also barricad the camwhere water otectorsre stayi.eine 3 tasands piline hashe backi of the biden ministraon. and is week,ndigens leaders and clime justic tivists ockaded cess to the whithouse, cling on bideto stop fossiluel ojects a invest climate justicinitiatis in his infrtructu plans. meanwhile, two men working on construction at enbridge line 3 ve been rested apart of its sex trafficking sting operation. for more, we go to minnesota to speak with tara houska, indigenous lawyer and activist, founder of the giniw collective. she is ojibwe from couchiching first nation. welcome back to democracy now! just lay out the scope of this protest and what it is you're protesting with line 3, what it represents to you and what you hope to accomplish. >> good morning, amy. thank you for having me back. where we are at, basically, all out grounds fight, people giving everything they have to defend this beautiful place and stand up for future generations. i have seen over 500 people now passing rough the legal system of minnesota, over 500 arres

that's a stack, play sheri brew and it will be very problematic for policymakers. wow. now speaking of that, honeymoon being over, what about housing markets? i mean, home prices were up by record 16.6 percent in may and with the federal ban on eviction coming to an end this week. are we likely to see the pull back on his purchase of mortgage backed securities? well, i think that is certainly the way that the script would read if the fed was make a little bit more rational about housing and the effect that monetary policy is having on housing will do it. due deference to people who say that that the, the mortgage backed securities, quantitative easing, is not having an effect. a record number of homes have been sold to investors in the past in the past quarter. and that compares to again, the housing bubble peaks that we saw. these investors are buying homes with all cash, but they're using the feds easy money policies to finance themselves and lever up again. fed policy is doing very direct damage to the housing market. and the most direct way that they could try and s

. >> i am shery ahn. the top stories this hour. u.s.s the 10 year yield goes below 1.3%. covid variant concerns slump

i'm shery ahn. the top stories. opec alliance dissents into

shery: the top stories this hour. u.s.the rally with strong earnings, more than 85% of the s&p 500 companies reporting so far have beaten this week. haidi: bit -- bitcoin gets a

shery: didi warns of adverse impacts after complying with the chinese order to take down more apps. more records, a lot of optimism building up as quarterly corporate earnings gary to kickoff. the s&p 500, its 39th record close so far this year. still fairly impressive, 911 sectors advancing today. the nasdaq hitting a record powered largely by investors buying up tesla, google parent alphabet, meg attacked back in style as investors thinking growth is the trade to play. -- mega tech back in style. the s&p 500 index gaining nearly a full percent. we will start hearing from u.s. banks tomorrow and that's generating a lot of excitement in the stock market. the u.s. 10 year trading about where it was yesterday. a $38 billion 10-year note sale had decent demand. the three year note, not so much. let's go to sophie to see how asian markets are shaping up. sophie: futures are little changed after asian stocks on monday, the earnings picture improving, estimates back at 2008 levels. given concerns over the sydney virus outbreak, that means warnings at the upcoming meeting. the aussie dolla

shery: top stories this hour, the slumping u.s. china listing accelerated.iggest three-day fall on record but mark

. >> i am shery ahn, the top stories this hour. u.s. stocks fall.r and tech weighing on the s&p 500.