Good morning, everyone. Good afternoon if you are watching from asia. This is bloomberg surveillance. I am in italy for the ember city ambrosetti forum. Lot to do with the economy, the trade war, with no end in sight. Although the two sides did decide to meet her we go back to our wall of worry. What im looking at. European stocks were up at the open a touch, now they are down. 1 . A lot will have to with the number we get from u. S. Jobs. Looking at treasuries, they are slowing some of the declines we saw yesterday and we shot a sharp selloff. Im also looking at gold. It is probably the perfect litmus test when comes to risk on or risk off. And wti, there is little change their. There. So we will get back to the markets and great interviews, but first, lets get straight to london and first word news. Hong kongs Credit Rating has that is as months of persistent protests and violence continue. Fitch says it is testing the framework that governs the relationship with china. Carrie lam sa
Critics say its not enough. Porschetesla, the we will run down the features, including the price. Now, stop shares are plunging in afterhours trading after the company gave its first Earnings Report as a public company. Expectations for secondquarter revenue and earnings. It projected slower sales growth for the second half of the year. It willabout signal strong competition to make the Software Maker a rapid riser. We do is poised for a record low. Isning me from to discuss our guest and on the phone is our other guest. Larry, great to have you. We have had a few hours to digest earnings. Give me some of the big concerns. Is the big concern the Topline Revenue growth . That is something i dont cover. I work for technical professionals. I talked to the geek in the room, the i. T. Professionals about installing security. From my perspective, there is still strong interest for slack from our metrics, if you look at the inquiries we get and other metrics we get around research reports. Ta
President trump. The Investment Committee is ready to go. The Halftime Report starts right now. Welcome. Good to have you with us on this tuesday. Our Investment Committee at the table. Joe t lets begin with stocks. Under pressure as you know new tariffs in place you had that weak reading on manufacturing, investors are on edge you have the worst month for stocks historically. You have to deal with new tariffs, the economy, risks are starting to stack up against the stock market yeah. This is not a great team as you mentioned, but if were dealing with trade its painful every day. The bigger question is are we headed for recession or just headed for Slower Growth i think we are just headed for Slower Growth. Something like 2 , maybe a bit less gdp growth. Yes, jobs have been strong wages good, consumption on friday, youre running at almost a 3 annualized growth rate on top of last quarter that was 4. 7 consumption growth. The consumer is still okay and its the bulk of the growth of the
Tumble. Paul the services session in the u. S. The board. On across treasury yields rallying. The s p 500 jumped into a fiveweek high. The 50 day moving average. Tech shares let the gains on renewed optimism over trade and we had rally at the twoyear yield. At one point, it jumped by the most in about a decade. We had very strong Economic Data when it came to the private payrolls numbers but also little changed when it came to the jobless claims, so the focus is turning to the u. S. August job reports that are coming out tomorrow. U. S. Futures unchanged. Lets see how we are setting up for asia. Sophie it remains to be seen whether this will continue after global stocks posted arrest day gainin since two since january. Hong kong on the radar after Derivatives Trading faced pickups on thursday. We have the nikkei futures in chicago looking to gain ground after the nikkei 225 rolls to a win month high on thursday. Japanese data on cap. Tap. Sydney futures gaining ground, climbing to a on
Wide, but the main event is fixed income. Treasury yields at new highs. Lisa the highest levels going back to 2009. Around the globe you are seeing this push upward in yields. Is it because of inflation, because there are not going to be as many buyers for this debt . For is this the wholesale figure out as people capture this yield for a longerterm . Jonathan what a pain. The fx market right now, this might hurt. Lets have a look at the offshore human, taking a move lower. China told state banks to escalate human intervention this week. What is that about . Lisa beside father the lowest level in 15 years. That is as you look at Economic Data coming out that was weaker than expected. The intervention has been settled or growing has been subtle but growing. We heard that the peg was unusually below where it was supposed to be trading in the free market. At what point can china control the narrative through market manipulation . Jonathan lets see if that exit difference. We have been rep