Yvonne interesting to note the jobless rate, 6. 2 . You have to wonder what the labor market looks like in the face of this bad data. Look at the equity market right now, a free fall when it comes to china but looking better than the rest of the region. Its bring in our next guest lets bring in our next guest. Thea, it seems like economists were a little bit too upbeat. What happened . Julia i think if you remember, the government gradually increased the limit on economic activity. They extended the quarantine since the beginning of february. That likely hit a lot of factors like retail consumption quite a bit. It is happening at the same time with a lot of other factors such as Chinese New Year and a bit of a vacuum in terms of activity any highfrequency nature for the first two months of the year. It is introducing a law of margin for error, trying to get an understanding of the true extent of the the klein. Having said that, a lot of micro indicators were sowing a possibility of a v
Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue
But we were substantially higher earlier in the day. When you look at treasuries, there was buying all day in treasuries. Lets dive deeper into the action with our different reporters. I am thinking about volatility. Todays decline does not seem that big. But it is the same fiveday decline since last august. This is what we will continue to see. We had a long stretch of small moves. We have a couple of moves. 10 year yields are already at record lows. The ratio is worrying. Its Predictive Power has somewhat weekend. Renita i am taking a look at ge at the close. Their reports showed no new negative news. Ge shares are now down more than 1 . Joe i am looking at some of the action here. We see booking. Com down 4. 5 . What is about them is they have been really in the eye of the storm with these coronavirus concerns. Anything related to travel or going out. Amc, the Movie Theater chain, down. Live nation down. That will months to bet on people going out and traveling. You can see that com
Know that that can hurt them as it has but they also know that it hurts mr trumps reelection bid because it hurts manufacturing farmers and others so the bit bottom line is its a theater driven by the calculus mr trumps calculus how much does the theater gain me and the how much does the theater lose me and what every resigned this coming week it will be overwhelmed by how that calculus shifts between now and election day next nor the november but if the chinese side decides to sign something that they simply cant deliver on because these are impossible benchmarks to fulfill all of us we said then wouldnt it just be a question of if not when then like how chinese will default in the socalled agreements. I think this is a bit more complicated the chinese understand that they get some real immediate advantages tariffs that were set to go into effect wall now thats been agreed to tariffs that were imposed in september are going to be either eliminated or removed its still true that half o
How good is this for the rest of us . Will this make any difference . Mr. Kudlow i think it is better than nafta. I think it is broader than nafta. It updates nafta. In some important new economy ways. You have domestic content and labor issues which have been resolved. I think financial and digital services. We will get a lot of investments. I pulled out some of the estimates. A lot of people were quoting numbers. On theve wide ranges u. S. Economy. This reflects uncertainties about better investment and better risktaking. That is a gigantic number. There was a very wide range of 35 basis points on 1. 2 . Those are big numbers. That is why we thought this was a template of a trade agreement. Is very growth substantial. Worker defense, domestic content, very substantial. Really, this is our big trade partner. I know china is a sexier topic. The reality is, total trade with is basicallyxico slightly more than twice what it is with china. Could this be a template for trade agreements . M