Was checking in around 6 00 a. M. To squawk box but still looking up road map this morning, it starts with a potential trade boost, stocks as you saw pointing to what would be a pretty good open at least if youre long after treasury secretary mnuchin said there is a path to a deal with china. Plus, trade head winds hitting home, fedex saying the ongoing disputes are creating, quote, significant uncertainty for its business outlook. Micron surging this morning, this on strong Quarterly Results. The chipmaker also resuming some sales to huawei and forecasting demand recovery this year. Stocks are looking to rebound this morning, this after treasury secretary Steven Mnuchin expressed optimism about trade talks in a cnbc interview. Here is what he told hadley gamble in bahrain. Im hopeful we see a deal there needs to be the right efforts in place this isnt a deal for having the sake of a deal we were about 90 of the way there. There is a path to complete this but well see where we get. Quo
Youve shown who an hours drive from badging. Massive apartment buildings stand like concrete skeletons, 20 floors high. These apartments are supposed to be sold in 2020. Some customers bought them as an investment, but only about 10 percent are currently used. The trading stock moving cuz trucks and debris is everywhere. Buyers in china usually pay for their apartments before theyre even built finance by mortgages. But now around 100000000 apartments. So standing unfinished, the end of a real estate bubble that sa prices, rockets, sometimes double. Now with the chinese economy in prices, the bubble has burst. The price isnt of vending, our total sales have dropped to less than half of what we hadnt seen in previous years since weve been construction. Because all but these height is in stock in stock and cannot of the relisted sector accounts for a quarter off the chinese economy. No wonder business there is highly sensitive. Were on our way to find out more when the police stops us. We
S p down 1. 1 , and the russell down 1. 05 . Why . One main reason is china. China devaluing its currency. The dollar strengthening significantly. Oil is down big time, look at that, dollar strength, it takes fewer dollars now to buy a gallon of a barrel of oil at 43. 2, down almost 4 . Brent down almost 3 , gold up just a little bit as you see there about a half percent. Mandy is out but sarah eisen who knows a lot about currencies and china is with us today. Thank goodness youre here. I live for days like this, watching the dow and the impact of china spread across the globe. Bob pisani, anything with any china or Commodity Exposure is getting pummeled. Dow up 240 yesterday, down 240 now. Its a wasted week so far. Put them up, Materials Energy and industrials to the downside. Thats the big losers. Some of the obvious names and their impact from china. We always talk about casinos, wynn 70 of revenues in china, and yum brands 50 of its revenue in china down 5 . Those are the easy ones
Announcer this is nightly Business Report with Tyler Mathisen and sue herera. The bulls are back. Investors went shopping for stocks, thanks to upbeat earnings on wall street and policy movement in washington. In denial. Verizon didnt want to bring back unlimited data. But when customers fled, it did an aboutface to stem the bleeding. And a hot selling american brand in china. Reporter im phil lebeau in shanghai, china, were cadillacs are rolling off the line and sales are soaring. Could china eventually become the largest market in the world for cadillacs . That story coming up on nightly Business Report. Those stories and more, tonight, thursday, april 20th. Good evening, everyone, and welcome. Im sue herera. Tyler mathisen is off tonight. Wall street and washington came together, and the result was a stock market rally. Profit reports were mostly upbeat. European markets rose. And there seems to be movement on some of the Trump Administrations progrowth agenda. Here are the closing
That would be the job market, which has been one of the most vibrant parts, most successful parts of the economy. Today, we learned that private firms across is country continue to create jobs at a quite healthy pace. The Payroll Processing firm adp reports private sector employers added 179,000 jobs last month and that was better than expected. The Services Sector ranging from retarial taylorso shipp and Small Businesses led the gains. This comes ahead of the government report that comes out friday. It shows many businesses contin meanwhile, fascinating article in the wall street jour says low Skilled Workforce e beca globalization and technology, could actually be the key to s the article cites new research from a harvard economist who anticipates a boom, yes, a boom, in low skilled jobs. Lets turn to william lee, head e and bill, thanks for joining us, this stud workers w rekindle Economic Growth to the tune of nearly 2. 5 a year until agree with that in. I think thats pretty opt is