The Trump Administration overstepped its authority. Ntt reportedly planned to take its wireless carrier unit private. At buyout could be valued 38 billion. At thebreaking news moment. We are getting Industrial Production numbers for south korea. Year on year, it should be for the month of august, a decline of 3 , matching expectations, and bigger declines than the previous month. We continue to see some weakness year on year. Industrial production numbers have been in contraction for five consecutive months. When it comes to the previous month numbers, they have been revised slightly upwards but not by much. Month on month, a contraction of 0. 7 which is a contraction instead of just coming in flat as expected so that is disappointing numbers. Perhaps we could see some better numbers later in the year. We do have trade numbers for the month of september. We are expecting it to come up on thursday and exports are likely to see an annual gain in september so lets watch out for those numb
Climbing and nasdaq pole vaulting 2. 26 september has still been ugly. Ive been warning you that this is historically the worst month of the year. Ever since august ended, complete with a nasty tenday close and thats precisely what we got but now that september is almost over, lets focus on the future meaning next weeks game plan. It starts on monday when we get results from the mighty four industries which dominate the rv and motor home industry. When the pandemic first hit, ford sold off hard as investors figured wed have a normal recession and rv sales get slaughtered. Sure enough, we have a slowdown and mass unemployment and an incredible boom in the rv business because these things represent one of the only safe way to go on vacation. Since then, thor stock soared but tends to pull back every time people get excited about a potential vaccine. Lie i can th i bet rvs stay longer than you might expect tuesday we hear from companies that can potentially deliver upside surprises that m
Also up on the s p. Thend pingpong and pound pingponging around today. I think it was a reuters report talking about the fact that we hadnt made any progress in the brexit talks. Then we got the legal action and the fact that there was a landing zone, particularly on state aid, and that fishing was the only area that we didnt have a deal done. Subsequent to that, we start to see the pound rolling over again. We did see commodities generally do well last month. Crude down, burned trading just north of 40 brent trading just north of 40. Alix nancy pelosi is having a press conference, saying she is talking about how to go forward on really else. She is still ash really ills on relief bills. She is still hopeful, going against the report that she was skeptical. Euro still trading up 0. 3 . U. S. Is politics in the the European Union is starting Legal Proceedings against the u. K. The move was announced by European Commission president ursula von der Leyen Urszula by European Commission pre
Still lots of questions swirling an tech. Does the turbulent in tech continue, do you think by the way, value has been leading lately and thats a story in and of itself yeah. You know, a whole host of folks said that would happen, eventually, scott. From tom lee to Larry Mcdonald and so forth i dont think the story is over for tech you and i talked about that monday i said i think that we are unlikely to test significantly lower in tech. Yet, here apple is back down on the lows of the last several months, scott. Ive noticed a lot of those value plays that you discussed, for instance, infrastructure plays in particular. Steel, mining, things like that. Getting lot of money flow, a mean a lot thats worth noting. To your point, thats partially why perhaps people are using tech as a source of funds. I dont know how long that lasts. I certainly am not betting that it lasts very long as far as tech being a wreck and value being where you want to be thats the way it is for the last several se
You mentioned the vaccine trials with astrazeneca. That is not voting well. Boding well. Chinese markets nearly 2 down for the shanghai composite. The hang seng down 303 points, and the kospi also lower. Watching the dollar declined overnight, given some of the risk off moves. The pound down on the sixth the day, the longest losing streak since may. Streak eurodollar slightly lower. , ian hashe aussieyen been boosted by the haven play. G10 higherthe only than the dollar. Yields pretty much flat right now but we saw treasuries up overnight. This is where we are seeing signs of contagion from the tech selloff, the Commodity Markets and oil markets in particular. Below 40 forst the First Time Since june. Thats get more analysis with our strategist. Mark, the u. S. Session came back from the holiday continuing the tech selloff. How is the market readjusting now . Mark it is not a pretty start in asia. The thing thats concerning wayle is it appears to be beyond tech and is affecting other A