Thats across Bloomberg Television and radio. Manus nejra, very good morning to you. Its daybreak europe. There is only one topic. What is going to be discussed in davos in regards to Climate Change . Theres a wonderful piece. Central banks, does this week set the table for Central Bank Policy . What will the shift in gears from the ecb really tell us about the outlook for inflation in europe . Nejra yeah, theres a fantastic piece on the uber talking about peak decade. This is something that will be talking about peak globalization, peak cars, lots of different topics where we can get some direction, not just for 2020, but the whole decade ahead. Looking forward to those conversations. Us go inside the markets. To the dollar, first of all, and this is the important part. Ch bears are back in arge. Theyre pushing short positions back to the highest levels since may, 2018. Is it the end of u. S. Exceptionalism . Do you fight back against yield differential . We have a major story were tra
People were discussing today even as the dow climbed. The s p jumped 4. 9 . We rallied today because people interpreted the horrendous terrorist event in paris as something that will slow the worlds growth further, costing the feds not to raise rate this is year. The hope that the feds on hold turn the market down big. The futures were off last night. Having a huge day despite the tragedy in europe. The pajama traders got it wrong. Todays action was a relief rally that perhaps the fed sees what we see. The big roll over happening in manufacturing, industrial and retail portions of the economy. Lets start with basic industry. Steel, metal. Have you seen u. S. Steel lately . Down 63 for the year. 63. With one of the biggest markets being shut out by low oil prices and with the chinese endlessly dumping steel around the world. Companies underneath him will have a hard time making it. There is an oil and gas Company Ak Steel holding down for the year. Copper prices plummeting in oil and ga
Retail portions of the economy. Lets start with basic industry. Steel, metal. Have you seen u. S. Steel lately . Down 63 for the year. 63. With one of the biggest markets being shut out by low oil prices and with the chinese endlessly dumping steel around the world. Companies underneath him will have a hard time making it. There is an oil and gas Company Ak Steel holding down for the year. Copper prices plummeting in oil and gas doing poorly. Stock based on hope that china comes back online and the fed does nothing. Caterpillar is an amazing stock as well as cummings. The stocks are down. The industrial sector is in trouble. Same with joy global down 66 . I can barely bring myself to talk about coal and iron. It was thrilling to hear the hedge funds tighten, einhorn made a stand on con sol energy, a coal company which had the stock up more than 7 today. Thats more than 76 for the year. The iron work company, casablanca, managed to install its own people at the top. That stock is down 6
Date. How is that even possible . We are going to answer the question. Makers andmarket im Erik Schatzker. Reunited. I am thrilled. I came back because i want to know how millionaire matchmaking works to my Erik Schatzker. Thrilledhanie ruhle, to be back here with my partner eric. Erik schatzker. Lets get to the top business stories around the world. Companies added more workers last month than expected, according to the adp payroll group. Payroll grew by 200,000 monthly workers. The jobs report will come out officially tomorrow. And john legere is firing back afterc, claiming being accused of cramming. He just tweeted, ive made it clear cramming is bad. Customers pay only for what they want at tmobile. And the storm could turn into a hurricane and threaten North Carolina banks right before the holiday vacation season. Arthur may reach hurricane strength i this thursday and is currently just off of coast of florida. Of jpmorgan, stand jamie dimon, has throat cancer. To shareholders and
Concerned today than i was a day or two ago. In the sense at the moment policymakers are moving in opposite directions. In part thats the ways of washington and i think well see a few collapses before we ultimately get together somewhere in the days before christmas on a compromise. We have been talking about marginal tax rates, which i think are a key part not only of the budget question, but a key part of the broader economic question in terms of Economic Growth. And im hopeful that any solution that comes together is going to think a lot about Economic Growth and not just budgets. Host ethan . Guest i think i may be a little more hopeful than alex is. I think that theres a general agreement that the sequester will happen. Republicans and democrats and the president are all opposed to it happening. Theres also a consensus right and left it would be bad for the economy. So i think that when we are just looking at the tax component, there are certain things that we kev knitly definitel