Slumping is the critical modern cashry critical modern critical model three is delayed. Betty we knew this would be a is he newsweek and it certainly is. With the latest reports of Bloomberg News reporting that Jerome Powell will be the next fed chairman. It will be announced by the trump white house. We saw all that speculation before with the reports. Not a whole lot of reaction in the markets to that. Yes. As kathleen said in a previous hour, some people are calling this janet yellen 2. 0. He is seen as the that are continuity candidate as opposed to the more hawkish paler options. With more of a change from the status of. But we also have the other fed decision. Meeting with a little bit more of the same. Cautious optimism when it comes progression for the u. S. Still optimistic we will get to 2 growth in a few days. They the consensus is for december rate hike. Marketheck out the u. S. Close today. Earnings to watch out for. Particularly facebook and tesla after the close. The s p
The demand for their most important device in years. Trade, security, and north korea, we check the president s agenda as he packed his bags for asia tomorrow. . It seems like the president got Unfinished Business done before he headed to this part of the world. Naming jay powell as the next fed chair. Not a whole lot of fanfare. There seemed to be opposition on the tax bill mounting now. Will bebsolutely, that the next big thing to watch, whether we can get this tax reform bill done by christmas, as President Trump promising promises. Likeesting, Jay Powell Janet Yellen 2. 0. Steve mnuchin, pushed President Trump over the line into nominating him as the next fed chair. Yvonne it certainly is the case, plenty of earnings to digest after the bell. Apple, alibaba, both strong. We have the jobs report, as well. Betty lets look at u. S. Markets. Pretty much taking this news in stride. The s p finishing the day up. And made at the open its way back up, the dow up 81 points. The nasdaq finis
Hello from sydney, were just past 9 00 a. M. This is bloomberg daybreak australia. We are an hour away from the opening of the major market. Its just after 5 00 p. M. In new york, im betty liu. Over the weekend, the incredible news out of saudi arabia, the 11 of 11 ministers princes, for ministers, dozens of current senior officials. It was prince al believe in so all and his arrest that stunned the markets and pretty much every single senior head of state. He was arrested at his desert kevin. Making seen this prince a Huge Investment all around the world, particularly here in the u. S. By investorss about what might happen when the markets open, given this breaking news over the weekend. , the 50the him richest person in the world. These are some of the companies that he owns, at least a 5 stake in. Jd. Com. Apple, list, he is worth about 19 billion, but this seems to be consolidation of power by prince mohammad bin salman as he , orntially takes the throne consolidate his power ahead
Is worlds 50th richest man among those detained. Betty while we are watching all of these geopolitical events, including more headlines coming out on north korea, lets focus back on the markets how investors are looking at how all these events playing into their own outlook on the u. S. And the world. I want to bring up this chart, 5080. It shows you how the threeyear and tenure spread, or the five and 30 and two and 10, i should ,ay, trying to find out represented right at the end. You can look at it several ways, or maybe specifically two ways,hich is the bill gross way which is the economy is much gloomier than perhaps with the numbers are showing some and there is not much more room to raise rates in the u. S. Despite officials say. On the other hand, others say this is not about the u. S. , the u. S. Is doing just fine, it is about the rest of the world, which is falling apart, they are all coming here to buy the safety of u. S. Treasuries, can get those yields up, they are basica
He said the failure presents an opportunity. Thinking like a billionaire. Definitely look at softbank shares at the open. On the merger talks. Looking ahead to President Trump arriving in seoul this morning. On the itinerary, he is going to be having a dinner. He could be visiting camp humphreys. He is not going to the dmz, which has been a long tradition for many u. S. President s. A lot hanging on this trip here. Betty a lot of bravado coming from trump and from monster sayoshisan. Maximumlking about pressure on the north korean leader. We heard that from shinzo abe as well. Earlier hadr guests mentioned, what does that maximum pressure, exactly, mean. It is still unclear at this moment. In the meantime, first word news. President trump heads to south korea on tuesday after a japan visit that delivered no concrete result on fixing unfair trade. Despite a warm relationship with shinzo abe, he won no concessions. Did agree on a hardline approach to north korea. President trump said he