Are in the business cycle. It still checks a lot of boxes. It does not change any expectations about economic prospects. The trends will continue. We are now we were before the employment report. Wage growth may be a little slower but it is still right around 3 . We are in an extended period of exceptional mediocrity. We are stuck for the time being. Jonathan joining us on the table is priya misra, George Rusnak and gershon distenfeld. Can we begin with that quote from mike collins. Extended mediocrity. Are we . Is a the labor report lagging indicator. Im struck by the fact it continues to accelerate. If we hang our hat on the consumer, that is the engine of growth. We are in a mediocrity aspect, but if there is no engine of growth, the fed is on hold. We need something here to boost growth. That is not coming from the labor market. We are going to be in this narrow range. We have to stay in that range because this was not enough to move the needle. It is not giving me a lot of comfort
Results as leadership speculation swirls. Lets look at how we are positioned on the markets. Australia, looking like a flat open. Moved loweres have on that news from apple. Nikkei futures off about a fifth of 1 . New zealand has been trading for about an hour now. Ospi futures the latest company to announce fallout from the coronavirus. Joining us, mark gurman. Background into this announcement. Apples second revenue adjustment to years in a row. This time it also has to do with china but for a different reason , coronavirus. Billion for the march quarter. They are not saying what the new Revenue Target is. It is very clear that this is happening an impact on them. Sales in china are down dramatically. Two stores, most of which have been closed in february. China is the third biggest market. Second, the iphone is temporarily constrained, meaning they are producing less and selling less in the quarter. Andiphone makes between 50 60 of the revenues depending on which quarter you are loo
Reports of a technical glitch. Well have details on that story. Later former nissan head carlos ghosn breaking hiscy loens and boy did he ever in an animated press conference that went on and on and on and did it after a James Bondlike escape from japan. What did he say and what he didnt say power lunch starts right now and welcome to power lunch im contessa brewer. Right now stores surge dow up nearly 200 points as you can see up more than half a percent. S p and nasdaq also in the green and nochg ntching some new reco. We got google, mastercard, lowes up more than 2 tyler . Contessa, iran launching a missile attack overnight in retaliation for the killing of Major General Qassem Soleimani it targeted two air bases in iraq that house u. S. Troops among other individuals. No reported u. S. Casualties. Iranian foreign minister tweeting they do not seek escalation or war, President Trump echoing that sentiment earlier. Lets go to eamon javers for the details. The president says that iran
Crimes that he says japanese prosecutors, government officials conspired to bring him down. The president of the European Commission is warning britain that it will not get the highest quality access to the european brexit,markets after and less make major concessions. En says negotiating a new e. U. U. K. Trade deal will be tough. She also says that what Boris Johnson has imposed makes it basically impossible to strike a new agreement. The cancer death rate in the u. S. Has fallen by the most on record. Advances in treatments prolonged patient lives. The desk death rates of cancer declined 2. 2 . Global news, 24 hours a day on air and quictake at bloomberg powered by more than 2,700 journalists and analysts in over 120 countries. This is bloomberg. Live from bloomberg World Headquarters in new york, i am vonnie quinn. Live in toronto, i am Amanda Langford we are now joined both by our bloomberg and bnm bloomberg audiences. Here are the top stories. A sigh of relief on the comments and
Doesnt mean he wont go through with it over the next couple weeks. Taking a look at where the nikkei is, ending the year lower by 0. 5 . The nikkei recovered 50 of its slide since its record in 2009. Goldman among those expecting some kind of lift for japanese stocks in the coming year. Fromys japan will benefit a Global Economic recovery. Lets turn the page and look at where we are in terms of currencies. We know it has been a quiet volatility at a five year low. If history is any guide, the , it ishe currency to buy a favorable month and it has risen seven out of the last 10 years. The hong kong dollar, it may be six months of the protest, the hong kong dollar said to have its strongest month in 16 years. This is how it is looking at this point. David since 2000 three, that was the last time we saw a gain of this magnitude for the hong kong currency. We are looking ahead to the open in india, it was quite a steep gain we had friday although i should point out, depending on which inde