Road map begins with china trade concerns, retails biggest sales decline in seven months, corporate earnings in focus. B of a rallying on a beat, futures point to a muted open. Capitalism under fire a bit democratic president ial hopefuls square off and taking aim at big business and personal wealth. And billionaire marc benioff will join us at post nine. Well talk tech regulation, capitalism, ipos and who he is eyeing in the 2020 race. Stocks are on track for a modest open a day after the dow close the above 27 k for the first time in almost a month s p finished shy of 3,000. B of a beats the street with quarterly results. On the economic front, retail sales were down. 3 in september. Revisions were better. Gas stations down. 7 people say maybe this has to do with gas prices. Perhaps it does when i take a look at what is going on, if you read between the lines with bank of america, which is just a gigantic bank, gigantic consumer bank, talking about 5. 7 growth in Consumer Spending ye
Good evening. Welcome to new america. I am the director of the Reform Program in new america. To ant to welcome you all discussion about the possibilities of ranked choice that can an approach revive our democracy in various ways, potentially solving a bunch of different challenges. Ofs is an event and series events for our 20th anniversary. We were founded in 1999 with the idea of creating a home for a new generation of people and ideas across a wide range of policy questions. I am one of the oldtimers although i was not here in 1999. I knew the founders and saw the creation of it. Ideas about reforming the political system have been part of the dna of this organization from the beginning. It waseague reminded me in the book that the founders wrote called the radical center, ranked Choice Voting was one of the ideas they promoted. It is not a bible for what we do but it is part of it. Back to thecame political Reform Program in 2014. Our finding founding ideas like introducing fresh t
Giant announces an updated product line. Welcome to bloomberg daybreak europe. Good to be back ahead of the most important ecb meeting of the year. Trade ineing a risk on asia, green on the screen for the msci asianpacific index. We have a tweet from the global times talking about china putting measures to mitigate the trade war giving lift to risk assets. We see Sweet Nothings on the s p on a headline level. What has been going on beneath the surface for sector and factor rotation moving from more growth to value. Looking flatres, so another day of perhaps not much to do on the headline level. The big moves have been in bond yields. Jumps into year and 10year. Hitting its highest since august 5, down a touch today but sitting on 1. 66 handle. Great to see you and great to be back. Manus yes, indeed. Yields just off the onemonth high. We will talk about what james gorman had to say. To show the oil market because what has gone on is john out. N, this was the biggest pricing dislocation
Since the great recession. Is now the time to start worrying we asked this question because we said it only lasted a couple of hours, no big deal. Here we are, two weeks later it has been at, near or inverted for the past two weeks. Although. 3 back in may. Three months ago, true. Now we have all of these indicators flashing recession, recession, recession should we you should always be worried i think, but i think with worrying comes pete uses the word all the time, trading opportunities. I think thats what you have now. He said something a couple of weeks ago, stay with me, the volatility will be volatile. I agree with that. I will Say Something that ive been pretty steadfast, i think the market will bottom, s p 500, when the vix prints. I think the trend will continue to be lower for all of the reasons you mentioned. There are other reasons as well. It is not just the u. S. china trade. Quite frankly, it is not just this inverted yield curve. Other things are going on as well the ma
Swing up to 50 points. This is going to be a bit of a wild roller coaster this morning. We are anticipating more comments coming from the president as he continues to have these meetings at the g7. This can be very far, wide ranging and a lot of things can get comment on youll see the futures potentially move around on all of this. The nasdaq is up by 82 points. S p up by 20 coming after a big down day on the markets on friday when the dow was down by 623 points that pushed the major average down for four weeks in a row and you are looking at august being a month where well see declines very likely. The only other month we have seen declines is the month of may. Ten year looks like 1. 49 . The two year 1. 45 obviously these markets keying off everything thats happening out of the g7, too lets get right to aimen javers in france at what has been a wild and memorable meeting aimen, good luck wrapping this all up for us. Reporter yeah, absolutely, becky. Let me start with the comments the