The pound is leading the way across the u. S. Dollar. Thes up about 0. 7 against dollar. It is time now for the global exchange, where we bring you todays market moving news around the world. Our bloomberg voices are on the ground with todays top stories. Lets start by going over to hong kong, bracing for more this option after christmas protests led to clashes between demonstrators and riot police. Igh joins us on the telephone. Give us a sense of what is in store. It sounds like theres more planned for friday and going into the new year. Karen theres protests planned for this evening in an area of the city that has seen some of the worst protests over the past six months, and again over the weekend in an area near the chinese border. All of this is leading up to a day, rally on new years led by organizers that have led some of the biggest protests since this began. The level of anger we are going to be seeing at the clashes willen protesters escalate, and we are looking for what this
Barbara duran from bd8 capital markets. Thank you for joining us today weve got a lot of forces at play again another kind of side waist market, but some Risk Appetite if you look at whats moving higher today i agree with that i think that the action has been very constructive. And i think whats going on is youve seen the earnings expectations come down you had just a little sample last week, but majority of Companies Beat earnings and the most important thing, i think, was jpmorgan and American Express talking about the strength of the consumer in loans and spending and thats really the underpinning to the economy. And so we also know the fed, they have a meeting coming up. Im not expecting them to cut rates, but they have made it clear they stand ready and i think that forms an underpinning for the market. And not to mention china we have a little truce there i think we were all expecting some more down babeat commentar from what weve heard so far but so far, its been okay maybe rest
Bank. Micron issues a trade warning. Shares down this morning on a disappointing outlook and ceo san yjay mehrota joins us in a e minutes. Tell the story. Im sorry to interrupt. No problem. Eagles won last night i can do whatever i want. And half of the debuts trading below their offer price. Does that spell trouble for the ipo market wells is up in the premarket after naming bank of melon Ceo Charlie Scharf he held the top job at visa. Wells plagued by scandals struggled to find a replacement. Alan parker will stay interim until scharf joins the company the Conference Call is under way and well bring you developments on that. He had quite a run at visa and left for geographic reasons really. Yes, he did able to stay in new york, his family still going to be with him. One daughter right there, another one close by, folks nearby, very much dedicated to them i got to tell you, congratulations, or as people would say, as president ford would say, their Long National nightmare is over. I t
Markets overall we have pushed higher the s p up. 2 . There are plenty of individual stocks on the move, including wells fargo as the best performer in the s p onward that it will have a new ceo. That ceo has a lot of banking experience. A couple of little quirks. Generally, people are happy with him as that wells fargo ceo. Micron is down, disappointed and a big way when it came to its earnings and growth forecast. Some analysts are being easier on micron saying this is the lowest point it will see, the bottom. Also, expectations were too high. Citi is saying expectations were too high. ,uy the stocks are fluctuating investors may be looking past the Political Drama in washington, trying to focus on a mixed bag of economic data. We also have the chinese stories still rumbling along. How do you price this . That is the challenge. Price the Political Risk right now . It is on both sides of the atlantic. It is enormous. It dominates the headlines. Thetrying to figure out, if pricing mech
Your thanksgiving table. Which is only a few weeks away. Great way to start the show. I will definitely say there is a toxic atmosphere developing for ipos. News this morning that endeavor is delaying going public. Thats an entertainment and Sports Company and this is the second time its delayed. Weworks ipo also clearly in trouble. More on that in a moment. Pelotons debut yesterday was not good. The offering price, 29. It closed the day at 25. There are a lot of new companies that people might like to buy into. But it seems that the valuation of many is just too high. May i use the toxic word again . Try this. A toxic environment for vaping. The cdc reports that 52 jump in vaping related lung illnesses. This is now a hot button issue with a Legal Industry under sharp attack. Vaping came in as an aid to quitting smoking. Its not looked at in the same way now. Lets change the subject. Wait until we see wait until we tell you how much Jerry Seinfeld is getting from netflix. Wait until we