Iaii will decline next year. We anticipate the same rates next year as last year. European equity markets pull back and yields fall as german Business Activity contracts for the fourth month in a row suggesting the largest economy is well into the midst of recession. Bond bears retreat. Bill ackman pulled the position on the short position and bill gross is calling concern over the health of the u. S. Economy. And ha anmas releases two m hostages as Emmanuel Macron arrives in tel aviv as diplomatic efforts continue to step up. Happy tuesday. Warm welcome it street signs. We will kick off the show with the latest pmi. The october flash figures. The flash pmi has come in at 46. 5 . That is down from 47. 2 in september. The pmi hitting the lowest level in nearly three years during recession worries. Here is the breakdown. The manufacturing pmi is 43 which is down from 43. 4 in september. The Services Flash figure is 47. 8 which is down from 48. 7 in september. A bit of comments from the d
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Eye on even keep an as we see stocks continue to rally. All three major averages trading higher with the dow leading gains in terms of the pace. Lead. Logy continues to we have seen that thus far this year particularly during the rebound from the recent selloff we have been seeing. The stocks with the exception of facebook have been strong. The out performers include qualcomm, which says now it will engage with negotiations with rob kropp broadcom overpricing. The current offer stands at 79 per share. Rising in the market cap surpassing ninth 900 billion per share. We are on record watch for apple. If you are doing that kind of a 17937. It was the record close, 17853. Being upgraded to overweight from neutral over jpmorgan in the wake of hps earnings report, rising 3. 5 . Were taking a look a look at rates and the dollar. All of them were lower earlier. The dollar was lower and they need a little bit of a comeback back right now. It is little changed. The twoyear and the 10 year yield
Reform plan will further spur growth forecast for the e commerce giant and shares of ge on the move jp morgan report seize a dividend cut as increasingly likely the Company Tells us it remains a top priority historic run in the markets includes the 47th record close of the year. Weve got black rocks larry fink talking about risks in the market earlier this morning on squawk. Lets be clear, the United States deserves a premium. Our companies are stronger they are better managed over across Many Industries so i actually believe the u. S. Deserves a premium to the other markets. Not just that, jim, says he wouldnt expect to see any major reversal in equities until sometime next year. I love the guy, what can i say . Every time i talk to him and see him, he has a sense of whats going on there are moments when hes pessimistic and not like hes permable, i like what he had to say and liked his quarter. I wrote a piece this morning for real money saying its events that i cant see and north kor
Credit suisse. Mark barton in london with your data check. Mark looks as if the fiveday winning run is sputtering or stuttering. Choose your word. Down by 0. 1 today. The stoxx 600 boosted by results of the firstround of the french president ial election on sunday. The optimism is among investors that Emmanuel Macron will emerge victorious. Eurodollar, weve been as high as the november high yesterday, just crossing 1. 09. The recent rally also spluttering, stuttering, or spluttering. German 10 year yield was at a end of march high yesterday. Yields creeping up in germany and across europe. Towardsd a propensity riskier assets this week in the wake of the French Election. Nymex crude, big stockpile data today. Down by 0. 3 . 49. 39, francine. Francine stockpiles really in the last couple months have been able to change. Now, mark, lets get straight to the bloomberg first word news. Heres nejra cehic. Nejra donald trump is set to propose a 10 tax on more than 2. 6 trillion in earnings th