Earnings Results in Focus | Telstra Update, Plexure Global markets were mostly lower on Friday on the back of mixed economic data and as US stimulus talks remain in a stalemate. Reports that a scheduled review of the US-China Phase-One trade deal had been delayed didn’t hurt sentiment. US-China tensions remain in the headlines as President Trump said on Saturday that he was considering banning Alibaba and other Chinese companies from the US. His comments come ahead of the banning of Chinese apps like TokTok and WeChat from the US. We expect trade will remain in focus as we head into the US Presidential election in November. Closer to home, NZ lockdown extension measures were announced that were largely "as expected", and the NZX has opened higher this morning. With the ASX market reaction to Melbourne a good case study, our view is that the NZX is currently pricing in a short lockdown, but clearly if there is a material escalation in cases/lockdown extension then lockdown sensitive sto...