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Transcripts For BLOOMBERG Bloomberg Markets Americas 20240713

Such a big mess. We will have that summary in just a moment. In the meantime, lets take a look at factory orders for august. They were down just 0. 1 when the market was looking for a to klein of 0. 2 for a decline of 0. 2 . Theres a potential Market Reaction there as well. Lets bring in our International Economics and Foreign Policy correspondent michael mckee, who is in washington, d. C. For us. Even though this number is an expansion, it missed the 55, and that is really what the market was looking for today. Michael the market has decided the economy is rolling over, and a weaker pmi, even if it is still positive, helps confirm that feeling. Take a look inside the number. You can see the chart i have shows the ism nonmanufacturing index is up. It is still positive, but it drops a little bit to 52. The new orders index and the Employment Index both fall, and that is a significant contributor to what is happening in the markets because the new orders index falls by six points. Drop,s

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