US markets closed; Chewy slumped on Q2 results; Amazon warehouse conditions hit by potential new bill

The US markets were closed on Monday for the labour day holiday.

One bitcoin is worth US$52,518 going into the Asian trading day. The rally is fueled by El Salvador making Bitcoin legal tender as of today.

The Australian dollar is stronger against the major currencies and is buying 74.53 US cents.

Online pet supply retailer Chewy plummeted last week since reporting second-quarter results that fell short of expectations. For the period, Chewy reported sales of US$2.16bn, an increase of 26.8% YoY, but short of analyst expectations of a 30% increase. The company also remained unprofitable on the bottom line with a second-quarter loss of US$0.04/share, or US$16.7m.

Amazon warehouse workers could be supported by the State Senate as a California bill centred around warehouse labour issues is being prepared to go to a State Senate vote this week. If the bill is passed, Amazon and other major warehouse companies will be required to make significant changes to working conditions including mandatory meal and rest periods, higher compliance with occupational health and safety laws and more.

And Singapore has begun trialling robots to patrol public areas and deter antisocial behaviour through the use of fitted cameras and the ability to trigger real-time alerts to the control centre.