Annmarie hordern. Live from new york city and good morning. For audience worldwide this is bloomberg surveillance. En jonathan ferro, your equity market for the s p 500 negative by 0. 2 taking off q2 hitting a bump in the road when it comes to manufacturing. Manufacturing data entering expansion for the First Time Since september of 2022. Prices paid a little bit firmer. Setting off right across the curve. Lisa the idea they came in at the hottest level since 2022. People are wondering is this a commodities led blip that is temporary or transitory or is this something deeper that has to do with the ends of goods disinflation. Jonathan the commodities board, wti through 85 a barrel. Brent getting closer and closer. We are talking about the highest level since october. Throwing gold alltime highs on gold again. What is happening on the board right now. Annmarie obviously you will see a risk premium because of what happened yesterday which is an israeli strike on a key individual in the I
Higher for a change. Im melissa lee coming to you from studio b on the desk, tim seymour, dan nathan and guy adami. We start with meta shares now up 2. 5 just about after posting a top and bottom line beat. The company seeing return to ad Revenue Growth avenue dismal 2022 and Julia Boorstin has all the detail. Meta beat expectations on the top and bottom lines reporting its fastest growth in two year, 23 Revenue Growth in the third quarter. Thats ahead of the 21 that analysts expected. Now, for the Fourth Quarter meta provided a revenue Guidance Range with a midpoint just a hair below analysts consensus and metas year of efficiency, the Company Brought down its expense outlook for the year, down to between 87 and 89 billion from a prior forecast of 88 to 91 billion and it forecast its 2024 expenses for the first time giving a range between 94 and 99 billion now, for context, analysts had been looking for expenses to come in at 100 billion or below so they met that now, the company did
Major market opens. Paul australia has just come online. China ramps up aid for the economy, a higher budget deficit ratio and asian risk assets, in addition to easing treasury yields, trade is also mixed. Plus, japans biggest listing since 2018. Annabelle what i want to point out is that the Australian Market is sensitive what happens in china. New support measures coming through, Stephen Engle is here and well go through all the details in just a moment. This is an economy very reliant on what happens with china. The Golden Dragon index, that is the last close for that because it tracks u. S. Stocks around the chinese stocks listed in the u. S. But that was the best data we saw since the end of july. Just gives you an indication around how much investors are liking the latest support measures. Were also watching in the aussie session, the inflation focus in particular because we have cpi numbers in the next hour and the handle expected to take down, about 90 minutes from now. China i
And Goldman Sachs and hotter retail sales. Were also seeing higher bond ye yield. Our roadmap is going to begin with a slew of corporate results. Goldman and bofa. Lockheed martin says it expects to grow sales this year. Retail sales coming in much stronger than expected. The tenyear is rising and stocks are on track for what looks to be a lower open, about 29 minutes from now. Changes at news corp. Or perhaps liking what it means as an investment. Starboards jeff smith will join me live this hour from the active passive conference which we cover every year. We start with bank of america and Goldman Sachs, above what most analysts had been anticipating. Bofa seems to be the out dealer performer, although we havent opened as of yet. Coming through with their share of concerns as well, whether it be with goldman in terms of the continued drag the consumer has on the business even though its such a small percentage overall or bank of americas Balance Sheet which weve talked about many tim
Band to 12 cents a share. From new york, alix steel with guy johnson, welcome. We are excited about the cpi and i have to say that did not change anything for me. I do not know if that move the needle for me. Guy it is the second month where the numbers are coming through. We have a claims number that looks like it is signaling that we have a very strong labor market. All of this points to the fact that there is more work to be done. Over the last few days the fed has abdicated responsibility for bringing inflation down to target and saying that the market is doing the work for it and may be the fed needs to step up and do more. Alix and then you see the eight to nine basis point move, the more that moves and maybe the less the fed has to do as this kind of yield filters through. Guy the fed is talking more about the long end but the front end signaling that the fed needs to do more. It is interesting, you look at the Inflation Trajectory in europe and the u. K. , both point downwards