Tuscany. Off, somewhere outside toledo. So Francine Lacqua joins us. That is not toledo, spain. Outside toledo, ohio somewhere. I want to get to the data in a moment, with markets moving. Futures 21. I would say this has really this is really jump circuit by the french pmi numbers. Why was this a surprise . Francine i was reading the breakdown. The sharp slowdown is basically driven by services. It shows that the escape from recession wont be flailing like some economists thought. Guess it is partly seasonal i would also point to the fact that infections are rising quite significantly, especially in france, germany, and other countries. Leaders are saying they dont want to go back into lockdown, especially when you look at these pretty terrible numbers in terms of many factoring pmi, but also services pmi. It might also be difficult not to preimpose measures if the number of people getting infected does rise. So it will be a complicated quarter going into the winter months. Tom a massi
Fire towardst israel following a brif overnight lull. Israels new defense minister says there was little choice but to continue the campaign until the rocket fire from gaza stops. Children are not only killing israelis but they are killing their own people in gaza. The world must stand together and unite against radical otherwiseerrorists, the world will feel its wrath. Mark the leaders from the military groupon mosque have yet to enter the fray. Group hamas have yet to enter the fray. A Chinese National who worked for a u. S. Petroleum company has pleaded guilty in federal court to stealing trade secrets from his employer. Court documents indicate the 66yearold work for phillips when he stole information related to the development of next generation battery technologies. The material was worth more than 1 billion. A plea agreement calls for the 35yearold to give up two years to serve in prison and pay restitution of one under 50,000. Of 150,000. Global news, 24 hours a day on air and
Abramowicz i am jonathan ferro. Lisa abramowicz actually going to 731 lexington avenue and just making it in time. Good thing Brian Moynihan does not join for another 60 minutes. Lisa really, that is how we are going to start . I was prepared to be here early. Jonathan you want to trade . This will fill out for the next two or three hours. Brian moynihan will join us in 60 minutes. We want to start with the price action. We begin with dollar yen. Something truly historic just happened, something since not since 2007. The japanese yen is weaker even though weve just seen the first Interest Rate hike in 17 years. Lisa on one hand people were expecting this. Some of the rhetoric out of the central bank was not hawkish. They were indicating they were not prepared to hike again. That is why this currency pair is dead in the water. I do not understand this. This is what everyone was waiting for. Michael jonathan there is a big difference between the end of negative Interest Rates and the end
Nasdaq edged down. 26 , the star of the show was the Dow Jones Industrial average, which briefly crossed above 40,000. Hallelujah before pulling back a bit and closing down 39 points. Still, thats a huge leap from where we arrived at dow 30,000 back in november of 2020. So you know what . I think its worth exploring what stocks got us here and why. During this period weve constantly been told that tech is the market leader. But when i look at the top ten stocks up the most during dows trip from 30,000 to 40,000 very surprising group. Only two of them from tech. We also were told Interest Rates is all that matters but thats played a smaller role than expected too. Only the tenth stock really impacted. Instead its an odd grouping where the main thing these companies have in common is very strong exceptional management. Lets run them down so we can learn what the market really wants here. I need you to think about this even though we didnt close above 40,000, this is what matters. First i
Westbank and the rest of the teeth published in unit 53. 00 and being killed in the last a group of journalists, including an out 0 team is fine. Its really striking, southern lebanon. Roy does come around is killed the so more than a 1000000 people in northern garza have been ordered to leave the batch of neighborhood simply so that includes vacating hospitals, schools and some of the strips launches refugee comes jordans for administer as warning, as well as decision to for the displace palestinians will just push the region into an abyss of new conflict, the United Nations. And now the aid organizations say, as well as the mound, defines the rules for basic humanity. 7 days of air strikes, israels bump up into the gallons. A strip is killed at least 2200. 00 palestinians and wounded more than 8000. 00. Lets mean a week since a mass loads is unprecedented Ministry Operation by land and sea against israel. 1300. 00 is range of being killed, including for an extra or graphic images, ha