And that it is financially insane to buy anything but an electric car. Hong kong is bracing for more mass protest as the extradition bill goes before them. Breaking news out of south korea. We have the Unemployment Rate coming in at 4 for the month of may. Slightly lower than was anticipated. 4. 1 . It is also lower than in the previous month, when we saw 4. 1 , the jobless rate. We have seen, when it comes in south korea, really strong growth when it comes public sector, jobs. The government trying to support the economy and working towards job creation. In the private sector, we are seeing some of that weakness. We are expecting budget coming from south korea to help job creation in the future. For now, the Unemployment Rate at or percent the month of may. Markets in asia are shifting up and go to sophie in hong kong. Some midweek caution may emerge after the best threeday gain for asian talks since january. Kiwi shares giving back some of tuesdays game. Game. Gain. Do bok is to rele
The issues that have powered so much of this years rally. Today the Dow Jones Industrial e advan 187 points to 23,458. Nasdaq up 87 points to close at a record. And the s p 500 added 21. Our bob pisani has more on what took stocks higher. Reporter stocks rallied big time today, reversing six straight down days. What happened . First, washington did something. The house passed its version of a tax reform version. The senate still has to act but any progress on tax reform say cause to celebrate. Walmart and cisco had big earnings beats. Procter gamble moved up because nelson peltz finally appears to have won a seat on the board. High yield bonds turned around. The high yields markets often considered a proxy for investor willingness to take risks. That market has been weak for a couple of weeks now. The weakness has been in Telecom Companies which have faced difficult times. Once they stopped dropping, high yield markets started to stabilize. Im bob pisani at the networks for nightly bus
This is Bloomberg Markets middle east. Im yousef gamal eldin. What a week we have had off the back of the fed decision, and a dozen Central Banks around the world. Here is how the u. S. Equity session closed off. The s p index, dow jones, nasdaq. This is on optimism about the proposed u. S. Tax overhaul. Theres also a lot more volatility, 74 higher volumes than the daily average. Theres another event feeding into this, quadruple switching. It happens every quarter, futures and options on indices and individual shares. Then the bloomberg dollar index, a story of a stronger dollar, up. 4 , a major move, a fresh session highend the fifth day of gains. The u. S. Dollar gaining compared to all of its peers save for the kiwi dollar, which led weekly gains. Lets crossover in show you the other key Asset Classes, relatively. U. S. 10 year uninspiring. Gold, up. 3 . But look, the reality is you have traders dumping bullish bets at the fastest pace in five months. Do people care about the dollar
In washington you have the house and the senate that want to go different directions. People will talk about the good old days of bipartisan compromise, by telling you how old they are. Because it is true that 30 or 40 years ago the republicans would get together with the democrats and they would argue about todays topics. All fights in washington dc work bipartisan. Going up to nixon. Lifetimeagans nice the twoparty sorted themselves out. Lon wants a more constrained view of the government, one wants a expanded view, and they are heading different directions. One wants to go east and one was to go west. What would compromise look like . Government, bigger and we have revised between bigger and much bigger credit each guy would go back to his corner and say you know, i got is a really good to have more than they wanted or less than they wanted. We were always compromising for bigger government. Which was not the direction that we want to go. Now we have one party that wants to go to le
Great to have you here. Time for theis newsfeed, the top stories from around the world. In india, a historic defeat for the family that has governed the country for most of the past several decades. Outsition bloc led by modi that the congress party. Raul gadhi conceded defeat. Modi promised overhaul of the economy. Uber in talks that could end up tripling its valuation. According to people familiar with the matter, it is trying to raise more money in a round that would value the company more than 10 billion. Uber thus far rolled out its service in 115 cities around the world. Los angeles clippers owner Donald Sterling is fighting back. According to sports illustrated, he reportedly told the nba he will not pay the fine from last month and may sue the league. Nba banned him for life for racist remarks. Leagueow shot the itself cannot force them to sell the clippers, only the owners can. It is amazing, his resistance on this. Really interesting to see if he will succeed in fighting that