Twitter shares fall after hours on an unprecedented hack on the accounts of prominent u. S. Figures, including elon musk and bill gate. Jack dorsey called it a tough day. Welcome. It may have been a tough day for twitter, but it is also shaping up to be a tough week for tech stocks in general. The nasdaq leadership we have seen falling back a little bit this week. Nonetheless, we did see a little bit of strength come through on the s p 500. Today, we are seeing a little bit more risk off sentiment across assets. Perhaps to do with concerns around the china data, particularly around the retail sales question. Asia, the screen and particularly in chinese equities. The 10year yield is steady. You are seeing the dollar steady after a couple days of weakness. Also perhaps the fact that we are seeing a little bit of softness in crude. It did close that a fourmonth high yesterday, shrugging off plans by opecplus to taper production curves. Lets get to the first word news now. Coronavirus case
Will we had that 2 as we continue to get a trade deal . Time now for global exchange, where we bring you todays market moving news from all around the world. From hong kong to beijing, london and washington, our bloomberg voices are on the ground with todays top stories. In asia, chinese economy is showing signs of stabilization and regaining some kind of growth momentum in november. Chinas Industrial Production and retail sales both meeting estimates. Joining me on the phone is in an. Current is enda curr give me some of the details in the data dump we saw overnight. Enda these clearly signal that the economy is ending the year on a better note. 8 . Il sales climbed Industrial Production rose 6. 2 . Theres some caution around the fixed Asset Investment number, which only grew 5. 2 , but nonetheless, the take away among economists was it showed that the stimulus the government is rolling out is having some traction. There were some seasonal effects as well. But when you have a trade ag
He could become the fourth president in history to face impeachment proceedings. Fliesaker Boris Johnson into a political crisis after the Supreme Court in the u. K. Rules his suspension of parliament unlawful. And oneway traffic. China prepares to buy more u. S. Pork as President Trump uses his u. N. Address to slam beijings trade practices. Christine lagarde calls it the biggest threat to Global Growth. It is mediocre growth. Ofis at risk because essentially one major threat, which is the trade war that we see. Now, of all the things vying for investors attention, Political Risk is pushing its way to the front. Donald trump is to face a formal impeachment inquiry. Speaker pelosi says the u. S. President has violated his oath of office and obligations under the constitution. Trump called it witchhunt garbage. Boris johnson has restated his vow to complete brexit next month. He said he profoundly disagrees with the u. K. Supreme court, but wilson comply with its ruling. Joining us now
Those higher beta growth names and were watching alphabet shares closely today as openai refreshes its chatgpt chat bot, what it means for investors as well in the Broader Markets, well, most s p sectors seeing modest losses today. Small caps are outperforming yields are down. So, what else is new the russell is up. Well watch that over this final stretch. It does take us to our talk of the tape, whether the bull market is at serious risk or not. Lets ask dan greenhaus, chief strategist for solis you see the barons over the weekend . Dow, 40,000, so close you can feel it. Why you should fear it. And make a direct line to the cpi because thats coming up on wednesday. Ppi is tomorrow. They say recent history points to reasons for pessimism at this rate, investors could be betting on rate hikes instead of cuts before the fall what do you think of that . First of all, until this moment, i had no idea where the dow is thank you to barons. I see its on the wall now got to be paying attention
Shortcircuited by over exuberant investors. We will be tracking these carmakers when markets open later on. Suffice to say some of these names have in did up substantially. Up substantially. We will look at how it will take over on the chinese mainland. Let me recap the data overnight. It is still very important. Inflation out of the u. K. Have a look at my bloomberg chart. A bit of a conundrum ahead of that meeting on thursday. That is youris core inflation, 2. 7 . That takes you back to 2011. Fact of this driven by the the currency has been hammered so much following brexit. We are climbing back up. We are not even at the midpoint. Bloomberg intelligence ran to it numbers and are saying will probably emboldened the hawks, but dont get over excited about this. Inflation is overshooting the target. The strengthening in the currency might just take a little bit off that top. 2. 7 ahead of that meeting tomorrow. Before that, i look at markets in asia pacific. Are just under 30 minutes aw