Its the call of the day. The Investment Committee is ready to go. Halftime report starts right now. Welcome. Good to have you with us on this friday. Our Investment Committee at the table. The ceo and portfolio manager. Ubs private wealth management. And tom lee is here, managing partner and head of research. Lets begin with the markets. Stocks are sharply higher. S p 500. Nasdaq is finally joining the party. Nasdaq 100 new high. What a difference a day makes. Were not questioning the economy today. But maybe we should. The ism disappointed. Lets not rain on the parade. I think the bigger question is where do we go from here youre saying were in a great mood here. We have tom lee. Heres my comment. You know i have been all over trade. I think at this point, the market has fully priced in phase one being signed. I think there is very little upside to that. If it doesnt get signed by november 15th, i think you have a problem. As far as 3,200 i think well reach that, but i think december
October 18 futures indicated up about 50 points for the dow s p indicating to be up about six points all of this riding on the big number it is jobs friday expecting an increase of 75,000 none farm jobs and increase of Unemployment Rate of 3. 6 . The numbers are weighed down by the strike at General Motors those striking are treated as unemployed thats important to remember overnight in china, new data showed factory activity slank. Analysts expected it to pick up from last month. All of this raises the stakes for the trade war. Eunice yoon has more for us now. Thank you, becky. That official number was different from the private survey that came out showing factory activity expanded at the fastest pace in two years. It could be because the private survey tracks small and private companies as open toesed to large ones. China this morning proved to be a tech power house the goal here for 50,000 they keep on serving now with the 5g enabled phone apple is on 4g and the huawei phone is 10
Capitol Hill Facebook hashares down 10 in te past three months. The risks facing the stock all in on apple. Two big price hikes. One, a new street high its our call of the day microsoft earnings after the bell the stock outperforming all the fangs over the past one year the traders take their positions. Halftime report starts right now. Good to have you with us on this wednesday our investment committee, joe, stephanie, the brothers najarian were going to monofacebook. A hearing going on on the hill there mr. Zuckerberg another big dayfor earnings steph, you own caterpillar missed they cut guidance. China story. This is b about weak demand in china . Well, it is, but nothing theyve said today was surprising and if you look at the sell and buy side, earnings estimates, theyre around 11 so the midpoint rath eer is about 10 48 so its not that much off. They destock 1. 2 billion of invenntory in a years time. I like the risk reward and the stock reaction is telling you everything you need
Sentiment in about an hour our road map begins with amazons rough quarter, reporting its first yearonyear profit decline in more than two years. Shares down 6 ahead of the bell is now the time for investors to get in plus, turnaround for the chip makers intel delivers a big earnings beat demand far outpacing production. And the case for wealth taxes. What lloyd flablankfein says he be willing to pay higher taxes for. Lets start with amazon, though. Earnings miss, disappointing Holiday Quarter guidance weighing on the stock as the company ramps up spending on oneday shipping amazons earnings release, jeff bezos said, quote, customers love the transition of prime from two days to one day theyve already ordered billions of items with free oneday delivery this year its a big investment, and its the right longterm decision for customers. Weve been down this road before and their track record, jim, historically is pretty good on this yes, i think that theres a perception that they were down
Marketmoving news from all around the world. From beijing to london to istanbul and washington. Our bloomberg voices are on the ground with this mornings top stories. Worry going to start now in the middle east. Syria sending Government Troops to the north after u. S. Withdrew forces in the area. Mr. Erdogan is down playing the threat of an escalation. Whats happening in Northern Syria, whats the risk of a clash here . Reporter were hearing that Syrian Forces are teaming up with the kurdish rebels after the u. S. Allies abandoned them. And now theyre moving towards the Northern Syria where Turkish Military operation is taking place. However, turkish president has down played the risk of syrian and Turkish Forces clashing. Saying that the russians are mediating between the two nations. And weve just heard from the Turkish Defense minister. He says y. P. G. Kurdish militants have emptied a prison for isis suspects who then fleed. Now of course this is a very Troubling Development because