About the impact later on in the show. Time now for bloomberg time now to dig a look at all the news you need to know, from d. C. To new york. We are joined by bloombergs michael mckee, taking a look at all of the Market Action and economic action out of europe. It was a tough day for services pmis. Michael absolutely, and the charts tell the stories. These were the worst numbers ever for france, germany, and the eurozone, showing the Service Industries worsen manufacturing, and in part due to a quirk in the data. The market, we get pmis at 9 45 this morning. The same sort of data are expected. We also get the Bloomberg Consumer comfort index, the most highfrequency Consumer Confidence data. That has been moved up two days. The crashing of the european economies has revived talk, or pushed, shall we say, talk of stimulus higher up the agenda. German chancellor Angela Merkel has already decided that she is going to establish a Stimulus Program to help revive the economy, and she has put
Disagrees. As ecb bond buying divides opinion, we will hear from Christine Lagarde, plus how negative yields are impacting the Worlds Largest Sovereign Wealth Fund. Matt i know what the big news for you was last night. Number in the u. S. Showing manufacturers in contraction was fascinating. It definitely moved markets. If you are, even sitting in the u. K. , there is no doubt that was one of the biggest market moving things yesterday in terms of increasing fears, changing the price on futures. We will discuss that. Matt we will touch on brexit. We are going to be going down to westminster throughout the morning and following the fall out of last nights vote. Lets take a look at the market numbers right now, starting with asian equity indexes after those big drops in u. S. Stocks. We see asian stocks rising. Yen bouncing back a little bit. Just an hour ago. To sellare more willing safe haven assets in the last 60 minutes. Crude oil i think fascinating. Weakness we have seen in crude oi
A daunting proposition when the weather is going to turn to 97 degrees later this week. To the day,his is, the anniversary of when it happened in 1997. Questions. A lot of in the meantime, it is a quiet morning ahead of the u. S. Open. Some muted price action. Brent crude reaching the highest level since may. German three year yield dipping a basis point. On theg market currency heels of a less bad that expected gdp report from china. David today we mark the beginning of a big week for bank earnings. At 8 00,with citi tomorrow. Y jp morgan we also get retail sales and Industrial Production numbers. Companies Tech Companies face questions on capitol hill. Netflixy, we get earnings. Thursday, gm unveils its own new made engine corvette. In british open begins northern ireland. That is all coming up this week. We are joined today by Gina Martin Adams and damian sassower. Lets start with those china numbers. I will put up a chart that basically shows what happened. It was the lowest on rec
Sinking again. And we continue the week long special with the best ideas heading into q4. It is tuesday, september 26th, 2023 you are watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. We kickoff the day with the check of the futures the first winning session in five a clear change of direction here in the futures the dow set to open 125 points lower. The s p and nasdaq both down about. 50 in the premarket we are checking the bond market with the 10year treasury at the highest level since october of 2007 look right now at 4. 52 also the 2year treasury is 5. 12 you see it is elevated we are looking at the energy markets. Oil is giving back a bit look right now at wti crude below 90 a barrel down 1 this morning brent crude at 92. 28. Similar for the Natural Gas Market down 1 this as the dollar adds to impressive gains up 2. 7 this quarter alone and on pace for the best quarter since q3 of 2022 you can see the dollar up fractionall
As much the dow was down 166 points and it bounced off the levels and finished up. Should you buy this bounce, tim . What do you say . If you are short you should be concerned. I think the negative sentiment out there, first of all, still high enough where i think you can see enough of a riff. Saudis oil minister is out there on the tape saying, first of all, we actually want to destroy all the highcost producers. They want to keep largely the same policy but hes also said we do want to freeze production. You have different players saying Different Things and oil is the one that i think calls for todays move. The fact that its been holding on to this 50day moving average, actually kissed it and is now holding it and oil is saying maybe a lot of fear in the market. Stable fuel equals a stable stock market or does that mean higher stocks . I think it means higher stocks. Okay. If crude does stabilize not basically neutral. In fact it fosters the ability for stocks to move higher. I think