Over 30 . The u. S. Keeps spending, income in spending is priced to see the smallest monthly rise since 2020. Nike and carnival jumped after earnings. Welcome to bloomberg markets. That was a picture near my house in brooklyn. Guy i hear its raining in new york. Alix he will mock me but this is serious rain. We were talking about getting home because brooklyn is completely getting decimated now. There are no trains running anywhere so this is near my house and this is not the worst of it. You look at cobble hill and go on us, its rough going. Gawanus. I might have to walk home which will take me three or four hours. Guy you have shoes that are perfect for this weather. Alix has a lot of shoes under desk but im not sure they would be appropriate for this kind of weather. This keeps happening see you think about the last few months, you guys have had smoke, storms, all kinds of weather to deal with. Are you with me that the weather is important and somethings going on here. Guy alix yes,
Pickup. We got 120 from the First Quarter to the Second Quarter. We are expecting 1. 6 , so there is a little bits of momentum. The chinese have revised their quarter over quarter figure for the First Quarter from quarter from quarter to 1. 2 . Production better than expected in june, six point 2 . We were expecting 5. 9 . It is also better than may, 6 . This was the highest number since march of 6. 8 percent. Retail sales better than expected, 10. 6 . We were expecting 9. 9 . The previous month was 10 . This is the highest for retail sales since december. Retail beat estimates, Industrial Production beat estimates. Urban investment coming below estimates, 9 . To june, up 9 . We were expecting 9. 4 . The previous month was 9. 6 . It is the lowest number since the year 2000, but this is a much larger economy, so you have to look at the base effect of fiscal spending. Fiscal spending in june was up 19. 9 . Wrap thism going to up slightly better than expected. 6. 7 percent growth yearover
Lets bring in steve. Those dovish comments have not been enough to overcome that weaker Economic Data. Markets are counting on the strength and services to overcome weakness in manufacturing and overseas growth and the oil sector. And all the indicators inside the ism showing growth in services and the u. S. Economy but all weaker than they were including new orders and employment. This ignited a furious rally in the ten year yield. It dropped down to 1. 8. It was a one year low. We havent seen that in quite a bit and it also sparked the sell off in the dollar. If you take a look. It was i think a four month high for the euro verses the dollar. He said financial conditions are tighter than in december and they must take the fighter Financial Decisions into account. Amid all of this we have our first look at the cnbc rapid update tracking gdp for the First Quarter after stronger than expected car sales yesterday but were just tracking a very weak 1. 7 after the weak 0. 5 with a very wid
Quarter of record profits, all thanks to revival in the chip sector, but shares are falling as it prepares for Slower Growth in the mobile space. All right. A warm welcome to you. Welcome to this jobs friday. No, its not a jobs friday. Because of this. House republicans today are holding a closed door meet to go discuss plans for budget and fiscal matters as the u. S. Government shutdown hits day four. There is little action in congress as the budget impasse looks like it could very much into the debt ceiling deadline of october 17. Reports suggest john boehner has signaled he wont let the u. S. Default even if he has to enlist votes from democrats. The Treasury Department is warning a default would be catastrophic, plunging the u. S. Into the worst recession than that experienced 2007 to 2009. The president has canceled a trep into indonesia next week. And the shutdown debt ceiling on the minds of people all across the United States, Brian Sullivan moderated a Panel Discussion last ni
And theres confidence in the banking business. Announcing plans to exit this year. Announcer youre watching Worldwide Exchange bringing you Business News from around the globe. Pretty tepid for equity markets. We went home thinking a deal would be done in the United States. U. S. Senate talks on a Government Shutdown may be stalling. Senate majority leader harry reid still sees a chance to break the impasse before thursday. He spoke with Mitch Mcconnell sunday saying talks were substantive. Reports now Say Senate Democrats say any debt deal not lock in further sequester budget talks which the gop wont accept. Congress will be in session today even though its a federal holiday. World leaders are urging a deal. Christi Christine Legarde is warning of the problems. If there is a lack of trust in the u. S. Signature, it would mean massive destruction the world over and we would be at risk of tipping yet again into recession. Yeah. Session here though on the trade for european equities were