helped drive forward returns, as you say. this target was what we were expecting to hit at the end of the year, but we have seen a little bit of better than expected economic data also helping optimism that earnings growth might pick up a bit in the next few months. so is this all about expectation for rate cuts? is the optimism because of strong earnings? i the optimism because of strong earninus? ~ ., , earnings? i think it really does reflect earnings? i think it really does reflect rate - earnings? i think it really does reflect rate cut - does reflect rate cut expectations and the growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and negative for some companies. growth is slowing, it does cast doubt on the possibility of a re acceleration in the interim here. so it leaves that rally a little vulnerable to any failure to reach those expectations. japan s nikkei has crossed the 37,000 mark f
continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better than expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings? optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations earnings? it reflects rate cut expectations undergoing - earnings? it reflects rate cut l expectations undergoing belief that the us can have a soft landing, when you look at earnings growth, actually earnings growth, actually earnings growth
that s what the white house wants to talk about. they believe they delivered. the president is dealing with a decision that was made out of his control. the significant, dramatic cut that was made in output levels by opec. the president, blunt, in his view of that. what s your reaction to the opec decision? disappointment. don t hurt him. is it going to be there s a lot of alternatives. we haven t made up our mind yet. reporter: there s so many different elements of this, the domestic economy, the global economy, the bilateral relationship, the geopolitics in the midst of the war in ukraine, and politics, 30 days out from the election. the white house is working on a series of options that the president may pursue to block major increases at the pump. they are aware this is a global market. a decision made by some countries that the u.s. viewed a s allies or should have been allies leading up to it. the disappointment is real. some rage, to some degree, when you t
this is on top of an announcement from another tech company in the region, micron, which said earlier this week it will spend $100 billion on a new plant in upstate new york. that is the good news that the president is trying to ride high into the midterms, which are 33 days away now. the not so good news, which republicans are seizing on, and democrats aren t too happen about either is opec plus s announcement to cut oil production, led by saudi arabia and russia. the cartel is taking 2 million barrels off the market a day, starting in november. that s 2% of the global oil production. now, while the united states is somewhat shielded from a price increase, because the white house has been tapping into the country s strategic oil reserves, the rest of the world is not, and prices are already climbing. beyond prices though, there is also political fallout, as we told you yesterday, the cut in production could have the effect of helping russia fund its war in ukraine. neutraliz
Both domestically in getting chinas economy on track as well as internationally as the country tries to navigate a tense geopolitical environment. We are also going to see and he is back with us here on a show business report. Thank you for coming back again for us as we continue to track the story as the World Leaders gather there. We are still waiting for xi jinping to speak but in your expectation and estimation what are you seeing will be a thrust of the speech there. This are you seeing will be a thrust of the speech there. Of the speech there. This is a time of stocktaking of the speech there. This is a time of stocktaking on of the speech there. This is a time of stocktaking on both| time of stock taking on both side. Chinas reassessment of the initiative and countries on the initiative and countries on the Receiving End are getting a little concerned about the strings that seem to come attached with it in the form of the slightly odorous terms of some of the debt and the fact t