tv Bloomberg Daybreak Australia Bloomberg June 1, 2020 6:00pm-7:00pm EDT
♪ >> good evening from bloomberg world headquarters. i'm shery ahn in new york. haidi: i'm haidi stroud-watts in sydney. welcome to daybreak australia. these are your top stories. cities across america face another night of curfew as protests rage on. president trump slams local leaders for being weak, saying they must dominate the streets. as newocks rises u.s.-china tensions and post virus recovery.
the nasdaq outperforms amid stabilization. concerned about the phase one trade deal as china tells state buyers to suspend orders of some u.s. farm goods. beijing hong kong security law is straining. shery: a quick check of the markets. we are seeing u.s. futures under a little bit of pressure, but this has we saw u.s. stocks resilient. markets chose to focus on positive signs of economic recovery during the regular session. we have the s&p 500 at the highest since march. gun makers rallying as protests were marred by violence. we are hearing president trump is preparing to give remarks from the rose garden tonight. we will watch that very closely. tech shares outperforming after factory index chose american manufacturing rising for the first time in four months. take a look at what currencies are doing for the moment. we have seen the dollar index really under pressure, sinking
for a third consecutive session. we are seeing the dollar continuing to fall and sinking against most g10 peers at the lowest level since march 12. investors shrugging off concerns whether u.s.-china tensions or the violent protest in the u.s.. we are seeing the euro and sterling holding steady, but this coming after the euro saw the longest winning streak since march. markets watching this decision on thursday. the pound at the highest level since may 4. also, the aussie and qe dollars seeing strength. commodity currencies seeing upside, haidi. haidi: yeah, really pretty extraordinary given that we continue to have these concerns over global trade and another phase in the trade war route with this topic of the u.s. ag purchases. we are seeing positivity continue on in the future session in asia. we are looking we are setting up
a positive gains. nikkei futures are trading higher. we are seeing osaka futures higher by 90 points at the moment. futures also reflecting that modest positivity. watch out for gold stocks as they resume trading as we get global gold stocks trading at the highest level in three months. new zealand coming back from the long weekend, just about half a percent at the moment. that index is going for five ever the past successions. shery: let's get started with the top story. president trump demanding a crackdown on protests that continue to rock cities across the united states. berating governors for their week approach to violence and spurning calls for more conciliatory tone. pres. trump: you have to dominate. if you don't dominate, you are wasting your time. they will run over you and you will look like a bunch of jerks. you have to dominate. and, you have to arrest people and you have to try people. they have to go to jail for long
periods of time. haidi: emily wilkins joining us from washington. shery: president trump really is not backing down and we are hearing we could see some remarks tonight. has been giving a very aggressive message today in a call with governors and other law enforcement officials. trump is starting to paint himself as the law and order candidate. i think this is him continuing to further that image as we get into an election year. trump ended the call by telling governors to go out and get them. he called several governors weak. about a month ago when armed protesters stormed michigan's state capital over shutdown measures, trump tweeted to the democratic governor to make a deal with them. haidi: as we continue to see curfews and disruptions around the city, around the country, new york is putting in they curfew and doubling down on the
number of police officers on the streets? emily: yes, new york's curfew tonight is 11:00 p.m. many other cities have a curfew as well. i'm here in washington, d.c. our curfew will start at 7 p.m. staffers at capitol hill were told to go home early today to avoid the protests. we are starting to see local officials begin to look into the protests more. in new york, there were reports of a police car being driven into a crowd of protesters. bill de blasio says it is being investigated. and governor cuomo saying that perhaps needs to be a ban on excessive force by police. shery: we are getting more details about president trump's remarks. he will deliver them at the white house at 6:15 p.m. tonight, which is about 10 minutes. we will watch that very closely. we also had remarks from joe biden, the presumptive democratic nominee.
what did he have to say about all of this? emily: biden had an all-call with mayers where he didn't do a lot of talking, rather he tried to listen to them to find out what they needed. to starte would pledge a national police oversight board in the first 100 days of his administration if he is elected. our congressional government reporter emily wilkins. we will watch out for those remarks from the president and just about 10 minutes or so. we will get more details on the turmoil ahead. brookings institution fellow will be joining us with his views little later. let's turn to karina mitchell with the first word headlines. said to have is told major companies to pause some purchases of u.s. farm goods has tensions with washington escalate.
they have been told to suspend orders of soybean and pork and assigned the phase one trade deal may be in jeopardy over hong kong. the premier has pledged to stick with the deal, but china security law is straining relations. hong kong retail extended its slump in april as the coronavirus suppressed travel and demand. retail sales fell 36% from a year ago, from $3 billion, a 15 consecutive monthly decline. all the marginal less worse than the median forecast. retail sales fell more than 37%. hong kong reported its worst quarter on record in the first three months of the year. gaming revenue in macau plunged in may as casinos await the post virus reopening. growth gaming revenue was $221 million, down 93% from a year earlier. slightly better than the median estimate of 95% decline. major sasol in a straight month of falling with macau already
battered either trade war and protests in hong kong. japan has launched antibody testing for the coronavirus as the government seeks to find a level of immunity among residents of tokyo. areas with high rates of infection such as the capital and osaka will check thousands of people randomly selected. researchers want to know how the virus spreads and crowded communities. 10,000 people are expected to be tested for covid-19. global news 24 hours a day on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts. i'm karina mitchell. this is bloomberg. shery: coming up next, the former u.s. ambassador weighs in on the worsening tensions between beijing and washington. our conversation with gary locke ahead. facebook employees lash out at mark zuckerberg's an action of president trump's use of social media during the protests. this is bloomberg.
haidi: president trump is excited to be from the white house in a few minutes time. we will be bringing that to you live. investors in the meantime are looking past it weaken of violence and strained china relations towards the reopening of the global economy. joining us for his perspective is the senior portfolio manager for gradient investment. we are expecting president trump to speak in the next few minutes, potentially to talk about pulling up active troops in the d.c. area. in the meantime, are markets looking for all the tensions, be it on the streets of the u.s., the strains between china and the u.s.? is it really the market that has been trained by the feds to rally? >> the way i see it is everyone is pretty much focused on reopening the markets post the
worst portion of the pandemic. so, they are paying attention to the u.s. markets and asian markets as they have been involved in the earlier economic rebound from the pandemic. that we couldsay -- globalized flareups of localize flareups of covid-19 where these protests have been taking place. very sad for those communities and small businesses. it is my expectation that the protests are a wake-up call for better treatment of people of color in the business world now to offer more opportunities both of the entry-level and all the way up to the board room. investors will want to see that in the companies they are choosing. i think that is going to be very important. think esg type of companies. the social, the governance. there is an upside risk to the market. we may see those companies benefiting from investors attention.
haidi: that's interesting because a lot of defenders of the violent protesters are saying we understand how it has gotten to this because so far, dialogue has not worked to create progress and close the gap along racial lines. it sounds like it is different and when you were looking at a stock or company, does it become necessary as opposed to just nice to have? isiann: i think that this not necessary to create violence. i think the message is loud and clear. there is more and more data coming out to prove the point. that a peaceful protest is the way to go and that most people indoors that. i'm from detroit and i know what happened after the 1967 riots
and places were destroyed, and it's nothing good. nothing happened. the violence is not justified in my mind whatsoever. said, investors seem to be keenly focused on economies reopening. but given that we continue to see these protests turn into violent riots, what happens if it continues, this could hit consumer sentiment. what would that do not only to the economy, but also to those service sectors that are very dependent on the economy opening up? mariann: yeah, i don't think this will continue much longer. i think having seen what went on last night that things are starting to wind down. i think the worst is behind us, and i hope and pray it is behind us, and people can refocus on places rebounding and reopening post coronavirus. shery: then, you still have
the ongoing u.s.-china tensions, don't wait? we have heard from washington, d.c. that we could possibly see the delisting of chinese companies. some of these chinese companies have contributed to the nasdaq rally. companies like apple and nvidia have high exposure to china. should investors be more cautious on where they put their money, especially in the tech sector? mariann: i am not going that direction right now, having heard with the president had to say on friday. i think i was more fearful on friday morning then what he had to say was not that dramatic, at least at this point in time, about escalating the trade tensions. fact -- expecting -- go ahead. mariann: oh, i was just going to say that the companies that i
like at this point in time are five below, because the stores are beginning to reopen. we think that will surprise so he upside when stores rebound. we have a 20% upside from here to our target of 130. another company similarly is planet fitness. when the states permit the gyms to reopen, which they would be in the stores, this is a very value based gym membership company. they actually should be taking market share at the same time there is pent-up demand for such services. through the pandemic, they have been very cash rich while reducing their expenses. we think that one has a 15% upside. pacific, whichna is a beneficiary of the upswing in home construction, along with
remodeling, they make a lot of the osb and siding. 15% to 20%bout upside n.l. px. they also offer a dividend yield. you get 2.4% while you wait. we are hearing from defense officials of the pentagon saying that forces are not currently being deployed what they are on alert. we are hearing reports that when president trump speaks in the next few minutes, he could call active duty officers to the d.c. area. what was the engagement of active military forces to quash these protests on the streets mean, particularly in the context of recovery in consumer confidence? we have been saying whatever shape the rebound will be will depend on the u.s. consumer. when you have a situation like this where the military can get
involved, what does that mean? mariann: we have seen the military involved here in minneapolis with the national guard. they have been very coordinated with the police. the large numbers, the show of force has been what i think has been very effective in quelling the virus and keeping it all under control. so, i don't think that calling in is going to escalate things. i'm of the opinion it will help to bring things under control so we can get back to dealing with this horrible health crisis that's been consuming our economy and trying to get things back normalized. mariann, thank you very much for that. plenty more still ahead on daybreak australia. we are waiting president trump's
haidi: want to get you a quick check of the aussie dollar. u.s. cents.8 this is the first time we have seen the aussie go above $.68. if you need another reason to see why investors are feeling bullish about the reopening prospects, brushing off the fears of another trade war, keep an eye on these can commodities because they have done well as we see the u.s. dollars really sinking overnight. we do have signs of a hard fought phased one trade deal between u.s. and china may be in jeopardy.
china's agricultural firms have been ordered to halt purchases of u.s. farm products. beijing reevaluates president trump's threats overhung,. stephen engle is watching this. the markets are kind of shrugging it off for now but we are seeing the retaliation game begin. stephen: keep in mind, agricultural products were a key component of the phase one trade deal for donald trump to get those u.s. agricultural products like so wiens -- soybeans shipped off to china into an election year to assuage the fears of those midwest farmers who had been hit hard. so, china agreed in this phase one trade deal to buy about 36.5 billion dollars worth of u.s. farm goods this year. but the coronavirus outbreak really boiled those plans. china managed to import $3.35 billion in the first quarter. that was the lowest since 2007. implementation of the pledges
that were made in the phase one trade deal got off to a pretty slow start, but because of extenuating circumstances. the coronavirus has hammered the chinese and u.s. economies. as the chinese economy started opening up, it increased imports, including more than one million tons of u.s. soybeans in the first two weeks of may. rare purchases of u.s. soybean oil and ethanol. we are hearing, at least two people familiar to the matter who did it want to be identified, telling bloomberg news that the state owned commodity traders, huge companies, they have been ordered to suspend purchases including of soybeans while beijing is evaluating trump's possible actions and threats he made last friday on hong kong and possible actions on -- sanctions on communist party members. private companies have been told to halt purchases of commodity
products. and also to cancel some u.s. port orders. as of last friday, you are hearing that chinese companies were ready to make huge orders. they were making pricing inquiries as late as last friday but then were told to hold off placing those orders after trump made those threats. shery: in the meantime, we continue to see tensions rising in hong kong. we are hearing that the annual tiananmen square vigil has been bent. stephen: it is pretty significant. this has been held every year on june 4 since 1990, the first anniversary of the 1989 crackdown in tiananmen square. it is a big part of the commemoration and solidarity the hong kong people have before that sacrifice people made in tiananmen square, pro-democracy students of course back in 1989. swellednniversaries, it
into the tens, if not hundreds of thousands of people. usually it averages in the tens of thousands of people. a candlelight vigil in victoria park in causeway bay on hong kong island. the timing of this ban we are hearing, that authorities have banned this for this thursday, they are citing -- according to the organizers, fear of contagion of the coronavirus. ,here have been five new cases locally transmitted cases in hong kong over the last couple of days but pro-democracy advocates and protesters say it is all too convenient. it is a way that perhaps authorities can keep people off the streets and protesting. thursday happens to be the final day of enforcing, hong kong enforcing those social distancing rules which allow only groups of eight people. as you can see on the footage of your screen from the last couple of years, it is more than eight people gathering. it is tens of thousands on a
small commemorative anniversary. online at least for this year,it there is fear this might be the oninning of a permanent ban the commemoration even though authorities say it has nothing to do with the pro-democracy protests that have embroiled hong kong for nearly a year. shery: stephen engle there with the latest on hong kong and china-u.s. tensions. we will have more on relations between china and the u.s., and also hong kong, with former u.s. carlarepresentative hills. we will hear from activist investor david webb. let's now get a quick check of the latest headlines. facebook workers are critical of ceo mark zuckerberg's lack of action by social media comments of president trump. after he tweeted about shooting looters last week, twitter
obscured the post, but facebook merely said that people need to know more. several senior staff have declared their disagreements, holding a virtual work from home walk out. dissatisfaction is rising on ibm as the new chief executive continues the tradition of declining to disclose the sale of new job cuts. ibm has kept quiet for years about such matters except in 1993 when the then ceo announced 60,000 dismissals. the new boss is sticking to the script with ibm saying it won't give detailed numbers for competitive reasons. nettie's is moving towards a secondary listing in hong kong that could raise more than $2.5 billion. the nasdaq listed company plans to sell 170 million shares at a price of $126 apiece. it comes as u.s. lawmakers tighten scrutiny of chinese firms created in america. coming up, more on the protest
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shery: as president trump demands a crackdown on protesters, our next guest says the u.s. is dealing with two pandemics -- one from covid-19 and another from racism. rashawn ray is a fellow at the brookings institution and joins us now from washington. we are awaiting still president trump's remarks. we have seen this pandemic, both not only pandemic of racism at the pandemic exacerbating some of the disproportionate impact on minorities. this research of the end of last week showing the later is overall covid-19 mortality rate for black americans is 2.4 times as high as other americans.
tell us what you consider to be these two huge challenges for the united states. rashawn: yes. as you note, we are dealing with two pandemics in the united states. first, covid-19 which is impacting everyone around the world. you highlighted the racial disparities that blacks are nearly three times more likely to die than whites to from covid-19. the other pandemic is dealing with structural racism in america which is a pandemic, united states' original sin we never dealt with. part of that is that black americans are 3.5 times more likely than white americans to be killed by a police when they are not attacking or have a weapon. for black people, covid-19 and structural violence as it relates to policing is colliding on black bodies and impacting black communities in ways people are more vulnerable and leads
the people protesting in the streets. what sort of structural changes do there need to be, especially when it comes to reforms on these law enforcement agencies? i work extensively with police departments around the united states. i have worked with the department of all that security, i have worked with the military. i have done training for years. the have evaluated body camera programs. these particular solutions, while they are important, fall short. because as i highlighted in my recent article, oftentimes they focus on bad apples. bad apples come from rotten trees. the rotten trees in policing is the way that structural racism impacts policing practices. there are two main solutions i propose. first, we need to ensure officers like the one in minneapolis can never work in law enforcement again. it could be argued that officer chavez who killed george floyd,
had he been reprimanded earlier, he probably would not be a police officer. he had nearly 20 misconduct complaints. george floyd might still be alive. similarly, tamir rice, the 12-year-old in cleveland, and 17-year-old, both of whom were killed by police officer who left the previous department due to misconduct. one big thing that people oftentimes don't know about in the united states is that when there's a large civil payout, which will happen for george floyd's family for ms. use of those i wrongful death, moneys come from taxpayer money. so george floyd's family is going to be paid back with their same money for the death of their loved one. what needs to happen is we need to shift civilian payouts of police brutality away from taxpayer dollars to police department insurances, similar to how we do health care with
medical miss practice for physicians and will be able to have police hold bad apples accountable. haidi: we are getting some breaking news from the pentagon as we await those comments from president trump. a total of 600 to 800 national guard are being sent to the d.c. area. we are seeing the passion and the fury on the streets. per dr. kart martin luther king jr., riots or the voice of the unheard. have we gotten to the point because there is no other option, because dialogue has not worked? if that is the case, how did you change things that are so systemically entrenched? rashawn: that's a great question. i think for a lot of protesters, that is exactly how they feel. they feel that five years ago, around five years ago, colin kaepernick started a peaceful protest to simply kneel and a
lot of people started doing it. on football fields, in schools, public places. people were overly vilified for it. now all of a sudden, people feel like they were not listen to, they were not hurt. similar to what i heard pete teenagers say years ago. it takes us to tear some stuff up for you to pay attention to what we are saying. for a lot of people on the streets, while there are people that are welling to see nonviolent peaceful protest which normally happens during the day. people instigating things on the right and lef that often leads to the disruption of property. without being set, some people say they have a left when no other option's and they are getting attention. everyone is focused on this issue. what i hope is we can shift to transform and create legislation to create more racial equity in policing. haidi: talk to me about the
economics down these racial lines because we know the data on that is pretty appalling as well. what can business leaders or bloomberg tv viewers do? what can they do to try to close the gap? rashawn: obviously, bloomberg viewers probably know there are huge racial disparities in who has been allocated funding. when it comes to the payment protection program from the small business administration, about 95% of black businesses were cut out of this particular line of funding. it is not simply about the fact black people were not applying. it was not simply about the fact they didn't have relationships with banks which is part of it. the other part that we know from the great recession, as well as other historical moments, that unfortunately black people are discriminated against when it comes to these decisions. people look at the names of the businesses, the names of
applications and they prefer one over the other. for people who make these decisions, the people who own banks, what i have been asserting for which is the racial equity framework to become racial equity brokers and interrogate the policies, rules, practices and regulations of the company to ensure when money comes in and is equitably disseminated -- what is in fact was the research i've done over all less likely to receive ppp funding from the small business and administration. this means the infrastructure of all black neighborhoods is further deteriorated. we had a moment to do something about it, and once again, united states missed that moment. haidishery: black leaders today challenged the presumptive democratic candidate joe biden on his plan of what he would do
if he became president after he's elected in november. rational, andore more feasible approach coming from the democratic camp when it comes to really trying to rein in the systemic and structural challenges black americans face today? rashawn: i do. what i encourage people to do is to go and actually read biden's lift every voice proposal, which is a proposal for black americans in dealing with racism in the united states. i find that particular proposal to be viable. i find it to be something that is useful, things that can be implemented. i know he has been very conscious about what's going on with covid-19. aiming to implement racial equity moving forward. i do think there have been a series of policies put in place that biden plans to do deal with small business lending, to deal with policing, to deal with
health disparity. i think for black americans and other americans will eventually want to be able to deal with the original sin of racism in america. is thatct of race biden's policies are leading us to that point. trump on the other hand has not had policies, as we see millions of people become unemployed. as we see black people getting hit hard and black people continuously being hard-hit when it comes to policing. i think it is clear which option people should choose. shery: of course, before the healing can start, before the police reforms can begin, how important is it for calm to return to the streets? we are seeing violence. we are hearing from the pentagon that the national guard will be sent to protect monuments, to protect the white house. what message will this send? rashawn: you know, i think
really what we can hope for is peaceful protest. i also think that what the federal government of the united states is noticing is that groups on the right and left have been further radicalized. in many regards, they have become more violent and destructive. that is what we are seeing. there are tons of reports from minneapolis to l.a. to d.c. showing the people that are most likely to do the disruption either are not from the city or are part of these organizations that are aiming to do that. we are seeing this across the board on the right and left. on the right, far-right nationals groups, neo-nazis. on the left, groups like antifa that are destroying property. i think oftentimes we need to get to the table quicker. what people want right now the other three cops, for charges to be brought forth for that. one thing i know is the speed by
which those officers were fired is unprecedented. that is an important silver lining. with ahmaud arbery, three people have been charged with murder. in central park, amy cooper lost her job, her dog. that is progress that would not have happened five years ago. now technology is helping with that for people to see it on video. there is something like seeing a dead body, like george floyd, that unnerves people. at the same time, people are hurting. when people are hurting and feel hopeless, the only thing they feel they can do is do something extreme. fact, we are hearing and seeing that teargas is being fired at protesters near the white house at the moment, according to multiple reports. we can hear that at the moment. i just wondered, what's your reaction to that news they are sending the national guard to protect the monuments? we know confederate
monuments have been targeted. what does that tell you about the administration's priorities? rashawn: i think it tells us we are going to sees a ramping up of a militaristic style response . we are going to hopefully not see the level of force that typically comes when the national guard is enacted. what i hope is that protesters, as well as the national guard and police will have some restraint and aim to de-escalate situations so we don't see some of the bloodier types of protests we have seen several afters ago in the 1960's martin luther king jr. was assassinated. really great to have you. brookings institution david w rashawnn fellow huisha ray. from washington, d.c., we are
getting reports that teargas has been fired at protesters. we are expected to hear from the president at the bottom of this that but we will see if will happen given what sounds like an escalation of the street protests taking place on the city. much more to come on daybreak australia. this is bloomberg. ♪
trump: the biggest victims of writing are the peaceloving citizens of the poorest communities. as their president, i will fight to keep them safe. i will fight to protect you. i am your president of law and order and an ally of all peaceful protesters. in recent days, our nation has been gripped by professional anarchists, violent mobs, looters, criminals, rioters, antifa and others. a number of state and local governments has failed to take necessary action to safeguard their residence. innocent people have been savagely beaten like the young men in dallas, texas who was left dying on the streets. or the woman in upstate new york viciously attacked by dangerous thugs. small business owners have seen
their dreams utterly destroyed. new york's finest have been hit in the face with bricks. brave nurses who have battled the virus are afraid to leave their homes. a police precinct has been overrun . here in the nation's capital, the lincoln memorial and world war ii memorial have been vandalized. one of our most historic churches was set ablaze. a federal officer in california, an african-american enforcement hero, was shot and killed. these are not acts of peaceful protest. these are acts of domestic terror, that instruction of innocent life and the spilling of innocent blood is an offense to humanity and a crime against god. america needs creation, not disruption.
cooperation, not contempt. security, not anarchy. healing, not hatred. justice, not chaos. this is our mission and we will succeed.100% we will our country always wins. that is why i am taking immediate presidential action to stop the violence and restore security and safety in america. i'm mobilizing all available federal resources, civilian and military, to stop the rioting and looting, to end the destruction and arson, and to protect the rights of law-abiding americans, including your second amendment rights. therefore, the following measures are going into effect immediately. riots, we are ending the
and lawlessness that has spread throughout our country. we will end it now. today, i have strongly recommended to every governor to inloy the national guard sufficient numbers that we dominate the streets. mayors and governors must establish an overwhelming law enforcement presence until the violence has been quelled. if the city or state refuses to take the actions that are necessary to defend the life and property of their residents, then i will deploy the united states military and quickly solve the problem for them. i'm also taking swift and decisive action to protect our great capital, washington, d.c. what happened in this city last night was a total disgrace. as we speak, i'm dispatching thousands and thousands of heavily armed soldiers, military personnel, and law enforcement
officers to stop the writing, looting -- rioting, looting, vandalism, assaults and wanton destruction of property. we are putting everybody on morning. our 7:00 curfew will be strictly enforced. those who threaten innocent life and property will be arrested, detained and prosecuted to the fullest extent of the law. i want the organizers of this terror to be on notice that you will face severe criminal penalties and lengthy sentences in jail. this includes antifa and others who are leading instigators of this violence. order, and that is what it is. one law. we have one beautiful law. once that is restored and fully restored, we will help you, we
will help your business, and we will help your family. america is founded upon the rule of law. it is the foundation of our prosperity, our freedom and our very way of life. but where there is no law, there is no opportunity. where there is no justice, there is no liberty. where there is no safety, there is no future. to angerever agai given or hatred. if violence rains, that none of us is free. withe these actions today resolve and a true and passionate love for our country. by far our greatest days lie ahead. thank you very much. now, i am going to pay my respects to a very, very special place. thank you very much.
shery: you have been listening to president trump addressing the public on measures to what he says is defend the country and the people as we continue to see these ongoing protests across the united states. he says that the incidence of violence have been acts of domestic terror and he has now warned states and cities to dominate their streets with the national guard. and if the cities and states can't, then he will be dispatching the military. he says he will deploy the military. he is dispatching thousands of armed soldiers. he says he is mobilizing civilian and military resources to stop the rioting. you can see u.s. futures taking a hit, down 4/10 of 1%. as president trump was speaking. little bit of upside for the
bloomberg dollar index. it is right now holding about 12 20 level but this is of course after it set against most g10 peers and reached the lowest level since march 12. when it comes to wti crude, we are a little bit of upside. we are still awaiting opec-plus decision on the cuts and we are seeing the japanese yen holding about 107 level. plenty more to come. this is bloomberg. ♪
haidi: we have just heard from president trump speaking at the white house, saying he will be taking military action. he will be deploying military forces if the cities do not act to quash the unrest on the streets we have seen in the deaths of george floyd. we are seeing u.s. index futures fall. s&p 500 contracts dropping. there could be thousands or so soldiers on the streets, talking about the deployment of military groups and resources by president trump. all this unrest has spilled over into other sectors, including tech. facebook employees have staged a virtual walkout, criticizing their ceo mark zuckerberg's inaction over comments made by the president to their platform.
kurt wagner is on the line from san francisco. we have seen this in contrast to twitter's stance against the president's tweets. kurt: yes, we have seen twitter obviously take a further line than facebook. he mentioned this protest today. facebook employees are very unhappy with ceo mark zuckerberg's decision not to take the post from president trump down. a small group, i am told, has basically walked out of work today. obviously the company is not in their office so this is more symbolic of people not getting online to do their jobs. i think they are sharing their feelings on twitter in a very public way. usually see that from facebook employees so it is certainly getting a lot of attention. shery: we are getting some reaction from tim cook on the death of george floyd as well as the protests. what are we hearing? kurt: yeah, tim cook sent a memo
to apple employees yesterday basically saying that he understood that employees are hurting. it says things like a painful past is still present today. he acknowledge there are a lot of apple employees globally that are probably having a tough time right now. he said the company will do better and committed to doing some kind of financial donation to groups that are fighting for equal rights and equal justice. so, that memo made the rounds yesterday as the ceo's of the big tech companies are trying to let thousands of employees know they are not alone and they are there for them. shery: our tech reporter kurt wagner there. we will show you live pictures of washington, d.c. at the moment as the u.s. protests escalate and as president trump just spoke to the american public, saying it is his duty to
shery: welcome to "daybreak asia ." you are watching live pictures out of washington, d.c. a seventh day of unrest as we are now looking at police force against protesters after president trump spoke to the public, saying that these instances of violence were acts of domestic terror. withys that if governors the national guard cannot dominate the streets, then he will d