Selloff on wall street as we are one week away from the u. S. Election. The dow down as much as 200 points at the low. The s p 500 closing at its lowest level since july 7th. And the nasdaq locking in its sixth straight day of losses for the First Time Since april. You have the vix soaring, gold jumping, high yield down in the last six and small cap stocks getting hit the hardest. So are election fears finally taking their toll on the market . Are things only going to get worse . Ahead of next tuesday . Guy. Things only going to get worse. That implies the market continues to sell off. Im not convinced its election fears. Were going to have that conversation. To me, more technicals. Why is it technicals . Ill give a quick example. Last night youve got great data in china, right . Great data. What i thought was pretty good data here in the United States this morning. We would have rallied a month and a half, two months ago, in a meaningful way in the s p. We didnt do it. Tried early, fa
Bit of a reversal as they try to figure out what comes next. A lot of people saying this is not a floor but a temporary reprieve. Was talking to david westin earlier about the idea of Financial Markets with a bounce today but i do not know if the political markets have a bounce. You see the Jeremy Corbyn conference. By no means do i feel and all clear. Francine when you speak to traders and market participants, it is very clear that they believe Central Banks will once again step in and that is why we are seeing a little bit of a bounce. Tom can i say quickly how cool it is to have Alan Greenspan one day and mervyn king the next . We are honored. Francine but get to the bloomberg first word news. British Prime Minister David Cameron meets with his fellow European Union leaders today for the First Time Since last weeks vote to leave the eu. He will be pressed on how he expects the u. S. To trigger article 50. Ruled himself has out of the race to succeed cameron as Prime Minister. He was
First we start off with apple shares falling 1. 5 as the country underwhelmed the developers conference. Josh lipton is there. Reporter melissa, the app store eight years ago had 500 apps. Fast forward to today, 2 million apps that have been downloaded. Some 130 billion times. Ceo tim cooks jobs keep these developers very happy. He started his key note today by talking to the thousands of developers about the companys products and platforms. Now we offer you four incredible platforms that power these worldchanging product experiences. Watch os. Tv os. Os 10. Ios. Were going to move each of these platforms forward today. Reporter other apple executives were also on stage today, including eddie cue and craig. Developers i talked to, most excited about one change in particular. Apple is now going to let them integrate siri into their answer. That would mean, for example, you could use siri to order an uber or book a reservation. Apple music, which critics had said was clunky, confusing, n
Dont miss our interview on the show with andrew wilson. Income also. We do have headlines from the prepared testimony of chair yelling. She says shes does not discuss Economic Outlook or rate policy, but in terms of fixed income, she writes the fed must stay vigilant of new risk to Financial Stability. The banks are considerably stronger since the crisis and to carefully monitor the impact of any rule changes. Examinations have found regional banks to be wellcapitalized. We are expecting her to field questions about the reasons why there have not been a supervisor vice chair of pointed by the Obama Administration and what might happen Going Forward in that regard. We are about 30 minutes into the trading day in the u. S. Julie so julie is a very small rally underway in u. S. Stocks. I should really call it little changed. A little higher as we go into janet yellen testimony. Energy shares are the best within the s p 500. It has been this with saw affect for oil over the past week as we
Level, before big deals get done . Where Companies Feel comfortable selling or buying . Typically. Whether that is economics are e confidence, its like Energy Executives are like any other executive. They will do things when conditions are good and when there is positive momentum. Because investors will follow that and they it takes a lot to print a transaction in an environment where he have a tremendous amount of volatility. One of the positive developments in 2016 and we are so going to hit 3 trillion plus in m a, a pretty nice number has been asian, mostly Chinese Companies going outbound, Chinese Companies looking at deals either in the United States or europe. Wire the chinese looking outside . Are they concerned about that why are the chinese looking outside . Are they concerned about their internalare they concerned abour internal gdp . . Are they worried about the slowdown or looking to expand into other regions . The driver for china to look outside have been strong and conti