Stay with us now for crosstalk asking whether the u. S. And china can find a way out of better trade for. A low and welcome across talk were all Things Considered im Peter Lavelle after a breakdown in negotiations president and she may soon again meet to hash out a trade deal the stakes couldnt be higher both sides would need to proceed to wind failure could witness the Global Economy divided into rival blocks and a dual internet world. Trade war im joined by my guest. The zoom in washington she is a financial analyst as well as Vice President of vision for Fund Distributors also in washington we have john gong he is a professor at the university of International Business and economics located in beijing china and in forest hills we crossed to Michael Hudson he is a professor of economics at the university of missouri kansas city as well as author of forgive them their debts a Financial Times 2800 book of the year all right crosstalk rules in effect that means you can jump in anytime y
Selloff today after disappointing earnings news from facebook owner meta. Please fact amazon after the belt and i think the street is prepared for some disappointing news as well. Nasdaq 100 down 2. 2 . That is just a concentrated version of the ccmp. Abigail doolittle has a look at the earnings that have driven these losses today and the effect on volatility. Abigail pretty brutal stretch. The declines you were talking about, we have the major indexes down for the second day in a row. I dont think the s p 500 is oversold yet. There could be more selling ahead. This is since j. P. Morgan kicked off earnings season, down 5 . The worst stretch of the year. The bears are in control. Looks like we will have a thirddown month in a row for the s p 500. Relative to the earnings that are pressuring this week has every thing to do with big tech. Yesterday was alphabet and today is meta and alphabet and amazon. Meta down about 5 , the worst day going back to december of last year. The quarter wa
Rishaad they are coming out of the bottom of the hour, half past 9 00 beijing time. Production retail sales, lets put all of this into context. We have seen the movie gradually to the downside as we chart this of the last five years. Recovery flatlining. 10. 3 growth. Industrial production for china slipping through 6. 3 . In september. That they are falling just below what was anticipated by the environmental factors. Winter is coming, they are facing more curves to improve air quality. Slightly, 10. 4 . Two point percent is at least the expectation. 10. 3 is at least the expectation. Haidi they are leaning towards less of the factory driven growth and more of the retail sales consumer consumption. They continue to paint that picture. We finally got dropping the loans and credit numbers from the previous month. The headline is that the deleveraging process is underway. Expectations but one note out from Goldman Sachs, it is a calendar issue. The production cuts ahead of that 19th Part
Taking a look at the markets right now, they are getting ways down by those, the s p down by a 30 minute percent. We are definitely off of our session lows. By as much aswn 100 60 points. We down now by about 50 points. We are at session highs even though we are a negative territory. Take a look at the dow for the entire day. We can see where the right has been. At 10 00 a. M. , that is when u. S. Personal income and spending came out. We have been slowly clawing our way back, and you can see her at the noon hour we are just off our session highs. Another thing that is affecting the markets is of uti crude, as it always has been. And that is now at session lows, down by five and a quarter percent. 5. 25 . That is breaking a four day winning streak. The 10 00 a. M. Mark we did see a leg down after the u. S. Personal income came in a little bit worse than expected. Inx we are seeing movement the market caps today. It is an apple and google story, but i could be wrong. Ramy you are absolu
Market. Oil falling again. The threat of deflation takes stocks weighed down. Varney company, the friday addition starts right now. Stuart not quite the way we wanted to start a friday morning, or in the morning for that matter. Wholesale prices are falling. A threat of deflation. That hurt stocks. Down we go. Look at herbalife. Bill ackman says it will go down. I say this is one of the reasons people do not trust wall street. The little guy often gets the short end of the stick. Charlie gasparino on that subject. Lumbar liquidators. Defending its flooring against safety allegations. Investors do not look too convinced right now. That stock is down. All over the place recently. Now, on the markets we have this now threat. Look at the price of oil. Down 6 this week. The price of gas has begun to come down ever so tentatively. 244 is the national average. Got that. Audio, really coming down again . Does that mean the price of gas is about to plunge . Here is scott from chicago. The man t