And inflation hopes are fading fast. Then President Trump steps up his attack on his potential election rival joe biden, calling on china to launch an investigation. Later, apple made a pricey gamble on the iphone 11 camera as more people get their hands on the device, we will ask if the gamble has paid off, but first, lets get you a quick check of how markets are trading at the moment. We are seeing u. S. Futures currently unchanged at the moment. It is still early in the session, but this, of course, coming after the s p 500 rose the most in a month. We are talking. 8 gain for the s p 500 as we had Week Services sector numbers, the weakest weve seen in about three years. That, of course, sort of raised odds the fed could be moving, and that led to investors pricing and more rate cuts. The dow gaining 122 points, and the nasdaq leading those gains with gains of more than 1 . We also had financials higher, but a little bit of underperformance that we saw against the broader markets as
Falling revenue numbers. And a waiting impeachment, why big tech in the United States could be hoping that president trumps political problem could be their gain. Ut first, to our top story, it is official, wework is pulling the plug on its ipo at least temporarily. New coc. E. O. s of the Office Space Company want to focus on its core business public which they still plan to do at some point in the future. Now wework has brought in cash, planning thousands of job cuts and putting some of its sale. Sses up for joining us to discuss we have ellen hewitt who covers the company. Ellen, this story has been the ing dramatically over past few weeks. What is the latest from this morning . Llen its official, the ipo is going to be put on hold, so they said this morning that it, re going to be pulling that confirms a lot of the reporting we had in the last week or two which is that the unlikely to happen in 2019, likely to be pushed until next year. To theyre going to be spending few months wit
Reinforce a sobering message. Bloomberg technologys says apples new iphone features equipment that is best in class. We are seeing u. S. Futures under pressure, down. 1 present. 1 . Make a comeback after dropping about 1 as we services readings. It managed to bounce back. Investors bet more said action will be needed. We have the 10 year yield falling for a sixth consecutive session and headed towards 1. 5 . Contact leslie gains with the nasdaq gaining more than 1 . Sophie. Sophie futures are looking mixed as the regional benchmark is set for a third weekly loss. In tokyo, we are watching for reaction to reports that the u. S. Japan trade deal will take effect on january 1. President moon is to meet with the chiefs of four business lobby groups. He will meet with investors to explain the state of the economy. Switching the board to check in on bonds this morning, we have aussie 10 year yield slipping below 90 basis points, and the kiwi 10 year yield is below one percent this morning. A
Peoples republic and communist party rule. We are live from beijing and hong kong. Shery lets get you quick started on how the markets are trading. U. S. Futures gaining one quarter of a percent, this coming off the back of gains we saw on this u. S. Session with the s p 500 gaining. 5 . The s p 500 gaining ground for the Third Quarter in a row, managing to rebound in the month of september after the losses we saw in august. When it comes to todays session, we saw every sector in the green except for financials and energy. We have 10 year yields paring back some of the earlier gains to train around 1. 67 . Wti fell below 55 a barrel. Tech fueling the gains in this session as the Trump Administration partially refuted some of those reports that it may potentially target chinese capital. The nasdaq gained. 8 . We are looking ahead of the asian open with a couple of markets on holiday. Paul that is right. We do have new zealand trading, currently looking kind of flat right now in new zeal
Is fundamental to the government who is concerned about the economic fallout. Im Tom Mackenzie in chatham in square where china is celebrating 70 years of the peoples republic and communist party rule. Paul just want to get you to some breaking news out of south korea. We have Consumer Prices for the month of september. They are coming in weaker than expected. Cpi on year declining by 4 10 of 1 . Readingfollowing a 0 in august, which up until today, was the lowest reading in history. Now we have a new low. A contraction in cpi of 4 10 of 1 . That is the first drop on record. Auth korea is not facing deflation according to the finance ministry, which made comments moments after the release of these figures. We have oil prices weighing on the picture and south korea. The bank of korea has reduced its inflation forecast to 7 10 of 1 from 1. 1 . Well short of the 2 goal. This contraction in cpi two 4 10 of 1 sort of adding fuel to the idea that we might see the bank of korea cut ranks rate