Stephanie elon musk almost sold the electric car company to the internet giant. It is monday morning here on Market Makers. Im stephanie ruhle. Matt Erik Schatzker is upstairs moderating a panel was some of the worlds top bankers. Stephanie you were on my seat on friday. Matt it was quite comfortable. Stephanie i was interviewing the one and only mary j. Blige. Matt im going to kick it off with the tough stories we are following you at home in china the government has taken another step to try to start the economy you it cut the amount of money leonard should set aside before the start of the financial crisis. Today last week china reported its lowest Economic Growth in six years. A chinese stocks were down anyway today after regulators moved to cut the leverage trading levels there. Once the fourth two steps back. The greek bond selloff is renewing this morning. It is in its seventh day with interestrate yields in greek, threeyear notes hitting a alltime high of 27 . The deadline to p
Fourth day of declines and after the chinese manufacturing guide we saw it continued to drop about 78 u. S. Cents. About four days ago it was about 0. 8 u. S. Cents there. It has dropped quite a bit. Economists and traders believe the r. B. A. Will cut Interest Rates to a fresh record there just 2 . Its priced in about 76 that they will lower benchmarks to the 2 fresh record lows. Analysts say aussie has the potential for a pretty volatile week. Angie . Energy thanks, yvonne. More weakness on the factory floor in china with the p. M. I. Coming in below forecasts. Steven engle crunching the numbers. What does this tell us . Steve worse numbers since 2014 for hsbc. Manufacturing economics p. M. I. 49. 9 expecting 49. 4, so. 5 not a percent but you know what i mean five basis point bees low that. March was 49. 2. New orders, this is a key number within that p. M. I. Declining the most in a year. The official p. M. I. We got on friday showed stable stabilization but still 50. 1 is right th
Closing at 4,218. This as investors fear further crackdown from regulators who are tighten irthing grip on beijings soaring markets. It was very toll avial and the emphasis of course was on the Greater China markets. Yes, we saw that action by the authorities in beijing over the weekend with a rrr and they cut it more aggressively than most in the market did expect. 100 basis points and the aim here is to encourage credit growth, to encourage bampings to to get liquidity going. Initially we did see a positive reaction. We saw china stocks up by 1 . They did reverse course and as you pointed out, down by 1. 6 at the close. Lets net forget as well that the authorities in beijing, the securities regulators are trying to take the steam out of the market rally. They clamped down on margin financing. Lets not forget this very staggering statistic, we have now surpassed the 1 trillion yuan mark. It could be a brutal one if it is corrected. That is probably the overriding factor here. That is
30 days until you know what. So were going to talk about where americans are going to be shopping this year, what they will be buying and the retailers that are set to win. And those that will be left out in the cold. Speaking of cold, there are some look at that, i dont know what that it is but looks bad. Snow, of course. That would be cold. Major headaches expected for travelers as we head towards that thanksgiving holiday. Big winter storm stretching from the southwest to the eastern seaboard. It will be coming up the west as i show you there. Well track it first to sue at the new york stock exchange. Clear sailing down here but were watching shares of walmart, the biggest retailer announcing a ceo shakeup. The timing is raising questions as we head into the crucial hol kay season. Walmart shares are up about twothirds of a percent, the stock up 17 this year lagging the market. Courtney reagan here with the retail detail. Good afternoon, sue. While walmart didnt allude to the fact t
Train continues philip morris, kkr are among the names to watch before the bell today. News corp. , activision. The ecb will announce its policy decision later today. The market is hanging on those two reports. Kayla, thank you very much. Weve got some big Corporate News for you this morning. Twitter, that was your top corporate stories. Shares getting slams slammmed. The stock is down big time, about 17 . Wiping out basically a sixth of the companys value. Earnings and revenue did beat the street. That was not the problem. This was. Slowing new user growth and a severe decline in timeline use. Thats when a user refreshes their twitter spaj, being used as one of the key measures of how active users are. Ubs out this morning cutting price targets from 55 to 35. What does this say about twitter . These crazy valuations. I dont want to say they havent revolutionized the world. They have. But is it possible that this is the beginning of the bubble getting ricked . I was thinking about this