Shanghai and tokyo were moderately lower the nikkei finished down by almost 0. 9 . The shanghai was down by twothirds of a percentage point. This comes as we were getting manufacturing data out of china showed theyre still contracting. It was better than anticipated the number was 49. 7. That was better than the 49. 6 anticipated. Still below 50 in hong kong, the hang seng was down 1. 3 . Trading was cut short there because of an impending tropical storm. Markets were normally close at 4 00 p. M. Were suspended for the second half of the day this morning there are a mixed picture. The dax is up. The cac is up slightly the ftse is down a bit finally look at whats happening here in the treasury markets the tenyear right now ahead of that fed meeting, 2. 054 lets look at whats happening with gold. That could be a mover after todays fed decision gold is up more than 10 in the last three months. Apple big number of the week and its our top corporate story. Earnings and revenue topped estima
The same this year what were hoping for, as you go into 2020, is that perhaps 5g starts to be a catalyst for the shares, but youve got to get through the cycle first. What happened to the last half year we spent talking about how services and wearables will make up for whatever weakness there may be in the classic cycle . Yeah, and that hasnt been our call and the problem with the services is that its just too small as a percentage of the total. So services, as one of the examples, you would have to add, for the video service, about the equivalent of ten netflix to offset what the loss you know, the decline in revenue from iphone over the last year so it just gives you a sense of large numbers, because iphone is so large that puts a little context around it. Mike, i mean, apple is trading lower today, but so are the other f. A. A. N. G. Names, as well is this one of those scenarios where we need to be talking about more about the impact that f. A. A. N. G. Has on the Broader Market to
Week look at what happened overnight in asia. The nikkei eking out another gain a gain of 9 points, but thats the 14th day in a row that weve been looking at gains for the nikkei these are the highest levels weve seen in 21 years nikkei closing at 21,457 the hang seng with a gain of 1. 17 . And the shanghai up by 0. 28 the dax is up, the cac in france is up by 0. 21 spain is up, but just barely look at crude oil snapped a fourday winning streak. It is still above 50s a b s a on the wall street agenda just one piece of economic data, september existing home sales out at 10 00 eastern time. Well watch that carefully after getting some week housing numbers lately fed chair janet yellen is the keynote speaker this evening at an event at National Economists club in washington ge, honeywell, Procter Gamble, suntrust reporting results before the open. Later today an exclusive interview with ges chairman and ceo, John Flannery 10 00 a. M. Eastern, squawk on the street. Just to give explain why
Theres something that suggests the shares could go even higher when the Company Reports earnings next week well break it down. And heres what shares of roku are doing beep beep if you missed the move, well tell you how to get long for less the action begins right now. Lets get right to it, were letti heading into another busy week the big moves could come from the big box names, the Options Market reporting a 6 move for target mike is taking a look at walmart, an alltime high today. Number one, it hit an alltime high. Number two, the thing is trading 20 times earnings. This is really the haves and have notes in retail, isnt it the final thing is what you just talked about, the relatively high implied move, this thing implying a move of just under 4 , normally a good deal lower than, 2 , 4 is what we could normally expect. People do feel like there could be a little more of a move i dont think its going to be a huge surprise, most likely well look to try to sell some of that near dated
Alley. Im john fortt here at post 9 with michelle carusocabrera, mike santoli, carl quintanilla, and sara eisen have the morning off. General electric, meanwhile, slashing its dividend in half. The first cut since the financial crisis, and its shaking up its core business shares sliding right now down more than 4. 5 Morgan Brennan is at ges investor day in midtown manhattan and joins us now ge cutting its dividend by 50 in what is from a dollars and cents perspective the biggest reduction ever by a company excludeing the financial crisis, but the street expected that thats not why shares are falling right now. Why shares are falling, because of the guidance, so new 2018 eps forecasts, a dollar to 1. 07 per share, Free Cash Flow 6 to 7 billion, also disappointing, lower guidance and as one analyst just pointed out to me, the 6 billion in Pension Funding next year is excluded from the disappointing eps forecast meaning, the numbers may be worse than the optics are suggesting so one key d