Welcome to Bloomberg Markets. Before we get to that we have the bank of canada. Guy a bit of a nonevent. 5 matching. Im curious to see what ted macklin has to say though. He cannot make the same mistake he made in january. He cannot say we will pause, i think they will avoid that this time around. It will be interesting to see if the ecb and the bank of england make the same decision. How they are hawkish but keep pausing at the same time. We are near the top of the cycle on Interest Rate. But the sentiment is strong. Alix yields are popping lets get to that with michael mckee. Mike it matches the Third Quarter gdp. Services come in at 54. 5. That is up from 52. 7. New orders rise 50 75 57. 5 from 55. Unemployment rises but it is too late to use that in terms of forecasting the august payrolls but it it was 54. 7. Supplies are easing under the weather a little bit at 48. 5 but 48. 1 was the previous. And prices paid 58. 9 compared to 56. 8. Questions asked about if we see the economy f
Points. S p losing ppt 68 . Nasdaq tumbling ppt. 69 . This is the shacka can movement. You have to tell me you like. There has nothing with a lot of stocks today. I counted seven reasons why stocks were right to go down and no reason why they should balance because nothing good happened. Let me give you my proprietary turn upside down. Let me tell what you spooked the market so badly. First, the election. The market loves certainty and it hates uncertainty. So you can have the most antibusiness candidate in history running for president as long as we know what degree of certain that i person was going to win. Or we can figure out what to do. Typically theres a thesis that can work for anyone. Like Hillary Clinton like post democrats she wants to put people to work. There are a lot of stocks with that scenario. Or maybe you find Common Ground where there isnt something similar in question like defense. Maybe if we were confident Hillary Clinton would win based on poll be there would be
You have to tell me you like. There has nothing with a lot of stocks today. I counted seven reasons why stocks were right to go down and no reason why they should balance because nothing good happened. Let me give you my proprietary turn upside down. Let me tell what you spooked the market so badly. First, the election. The market loves certainty and it hates uncertainty. So you can have the most antibusiness candidate in history running for president as long as we know what degree of certain that i person was going to win. Or we can figure out what to do. Typically theres a thesis that can work for anyone. Like Hillary Clinton like post democrats she wants to put people to work. There are a lot of stocks with where there isnt something similar in question like defense. Maybe if we were confident Hillary Clinton would win based on poll be there would be ways to make peace with it and make money. But now the polls have tightened. This close to election day with two candidates with such
You have to tell me you like. There has nothing with a lot of stocks today. I counted seven reasons why stocks were right to go down and no reason why they should balance because nothing good happened. Let me give you my proprietary turn upside down. Let me tell what you spooked the market so badly. First, the election. The market loves certainty and it hates uncertainty. So you can have the most antibusiness candidate in history running for president as long as we know what degree of certain that i person was going to win. Or we can figure out what to do. Typically theres a thesis that can work for anyone. Like Hillary Clinton like post democrats she wants to put people to work. There are a lot of stocks with that scenario. Or maybe you find Common Ground defense. Maybe if we were confident Hillary Clinton would win based on poll be there would be ways to make peace with it and make money. But now the polls have tightened. This close to election day with two candidates with such diffe
After we saw contraction and our Steve Liesman has new information on where the crowd is standing at this time. Thanks very much. From positive to negative what was first reported at 0. 2 . The result of less growth and it made econ 50s less optimistic. Our cnbc update falling by 2 10 of a percentage point. With a wide range to 4 . Let me show you where people are. At 4 . Goldman right about the middle at 2. 4. Morgan stanley. We are now including that atlanta fed in the survey at 0. 8 . Some of the commentary saying we lowered the q2 estimate to 22 due to downward revisions of sales. Barclays saying it will point it an acceleration in activity in q2. The under performance of the economy is likely to extend the timeline for the first fed rate hike. Meanwhile new Research Shows the First Quarter productivity data are also suspect. In part because they rely on the gdp data. Productivity a critical measure averaging 1. 1 in the First Quarter over the past 30 years. That compares to the gr