Be getting more mixed messages. Just today, an important gauge of manufacturing activity, the new york feds empire state survey, tumbled to its lowest level since 2009. But then another report on home Builder Sentiment hit its highest level in nearly a decade. With manufacturing and housing, two very important pillars of the economy, the debate within the market over when the central bank will act isnt going away anytime soon. Steve liesman has the story. Reporter as temperatures rise in august, the debate over the fed raising rates in december is reaching a new level. Youre looking at a significant correction in u. S. Equity markets and pushing the u. S. Economy back into recession. Reporter there are plenty of reasons the fed should stay pat and not hike. Chinas changing yuan, and yet weve seen the economy gaining momentum in the Second Quarter, and we think that will carry over in the second half of the yert. Reporter secondare quarter grows is now forecast to be above 3 . Consumer
Laventhal, josh brown. Jamoof has views on a whole number of Popular Companies and ones you might not have heard of yet but soon will. Its good to have you here did this go as you expected . It went way better than i thought it could go, quite honestly our whole goal was to fix a liquidity problem we see in Silicon Valley, which is employees are churning out of companies at faster and faster rates because they dont see a path on being compensated on what they believe is a fair mechanism. Its a bunch of issues with the traditional ipo process creating this log jam when we see that, as entrepreneurs tend to do, they try to unpack and fix it being able to reverse merge a lot of these companies fixes a lot of whats wrong in the ipo process. So it was oversubscribed by a lot, right from what we were told from Credit Suisse, it was the most oversubscribed spac in history. And there have been 20 to go public this year and thats the highest number since 07 why are these back in vogue and so po
Euro economy needs. We will hear from the fed chair janet yellen today. Welcome to bloomberg daybreak our flagship morning show right here in london. In a half hour time we will be , renato luliaceo jacob. T is another deal this time a 4ll explore options for billion drugmaker. Have alvin gentry alvogen , along with under other owners exploring options. The deal size could beat 4 billion. Aplenty. Als alvogenot unilever and on the pharma could pharmaceutical side. The u. S. Is wargaming four or five scenarios dealing with north korea. A clear message came through. We are not, and have not, declared war. Youhe bottom of your screen see a drop in value. The yuane falls as falls, they are holding back. , we areh korean won coming back. The white house has said we have not declared war on north korea. You have a cabinet response versus the trump rhetoric. The market is saying we are not running away on the runaway train of war in the markets. It is reflected in the risk rate of stocks. A l
I am betty liu in new york. It is just after 7 00 p. M. Yvonne it is just after 7 00 a. M. Here in hong kong. I am yvonne man. On southeaking news korea, their current account balance for the month of may, coming and higher than what it was previously, at 5. 9 billion. That is quite arise from the month before, 3. 9 billion. Going to help in terms of economic relations between south korea and the u. S. . It is continuing to be a rising account surplus, a thorn in the which has caused to say that the South Koreans are manipulating their currency, suckingexports out, that out of the United States, so to speak. Inse numbers, not goods terms of economic relations between south korea and the u. S. We have seen with headlines and north korea, they will have to work closer to contain what seems to be enough collating crisis in north korea. Korea t seems south i guess they have to deal with much more now, geopolitically, then politically. Comments from kim jongun, saying an icbm capable of rea
Points today. Its seventh consecutive decline. S p sank. 6 . Strong dollar and Lower Oil Prices are once again wreaking havoc on the stock market. Just like it did earlier this year. Until we got that nice respite in july, a respite that sadly now seems over. So how the heck did we end up back in this ugly situation . What are we supposed to do about it . Why dont we start with the key culprit . Oil. Oil declined 20 from its recent highs which qualifies as a bear market. Whatever thats worth. Its remarkable how little investors seem to care as oil plunged from 50 down to 40. The whole market moved higher. Often led by none other than the oil themselves. This paradoxical action culminated in oil crashing down to 41 last friday. The same time many oils as well as the broader s p 500 moved higher. But as of this week, that decoupling, it no longer seems to be the case and as oil blew through today, most of the market rolled over including glaringly many industrials, technology and consume