Exchange. This is where we bring you todays market moving news from all around the world. Frombeijing to beirut, istanbul to washington, our bloomberg voices are on the ground with todays top stories. We have chinese pmi numbers that beat expectations, a positive sign as the sectors improvement is crucial to stabilizing the chinese economy. Joining me on the telephone is beijing. s bureau chief how much encouragement should we take from these numbers . Reporter it was slightly higher than what economists expected. New orders also moved into expansion for the first time pointing toall signs that economic slowdown may be reaching a bottom. Looking into 20 20, we also have indications that Infrastructure Investment is going to increase, and hopefully some of that takes. Of course, if this socalled phase one trade deal with the u. S. Comes to pass, that will involve tariff rollbacks, which will also be a boost for exports. Positive signals here in china. Thank you so much. We go now to the
Tell those guys, there may people. Before we get to the markets take a look at yellow truck down about 25 . It has been gyrated wildly since last week on news that it would file for bankruptcy and today that happened, the stock is at 2. 67 but it morphed into a mean stock that Retail Investors are playing very heavily. This month alone is pop 55 with jawdropping selloffs and quarter to date it has soared 283 , Charlie Gasparino is looking at the funds he is back he has some news on who needs to stand to lose and when. Even if you dont own the stock. Lets get to the market after the worst week of march, the flipping the script and given the role of protagonist to the bulls at this hour as we kick off the final 59 minutes of trade, Dow Jones Industrial of 405 points. The dow lost 393 points total last week driven by the fitch downgrade of the credit worthiness from aaa to aa plus. Along with investors with the Quarterly Report those losses and raced we are up we are not down like we were
The dow crossed 24 how for the first time yesterday, but for the month the dow was up 3. 83 the s p up 2. 1 and the knanasdaq up 2. 17 . Telecoms led the way for the month. Check out the u. S. Futures those gains yesterday were something to see the dow Jones Crossing 24,000 for the first time the s p 500 was up by 0. 8 yesterday. All of these things we have been watching closely you are seeing a pull back this morning. Maybe related to what were seeing in europe the declines there are more significant. Declines in europe are because of the tax deal. You think absolutely. After we got so close last night. Its not just the declines in europe, europe is not matching 350 points of gains that we had here yesterday but the 350 points, that was at 4 00, all of this stuff they were supposed to vote yesterday. Im surprised theres not a bigger decline this morning based on the snags in the tax bill it was supposed to happen if we knew it would happen today, there would be further gains, now its
Of europe is hanging to some green arrows. Apple disappoints and revenue guidance is short of expectation. Meantime, the overall market set for a missed open after a big mix on durable goods orders and another big driver of todays market is earnings, ford, comcast, pfizer some of the names making moves in trading and well break them down. First up, well talk about apple and shares taking hits after betterthanexpected quarterly profits they sold a record 51 million iphones in the quarter but below expectations, the Current Quarter guidance short of consensus and an hour from now well get information from john scully who will join us at post nine. We said how easy it would be to set a new record which they did on phones, but no one expected phones to come in quite this low. No. I think theres a big schism developing, the analysts have really turned on apple now. This has become an unruly Conference Call. And youll see in a moment, but the analysts are still talking about are you still a
At t and yahoo reporting after the bell five ten minutes afterwards so well have plenty of coverage on that. Earnings continue to be a theme all day. We have also got an eye on the nasdaq which is lagging again today. Part of that has to do with the intersection of two stories right now. The stock story of the day no doubt is apple which has been crushed. Lets look at the shares at the moment. Theyre down 7. 6 . A big move for this name. There are some people who believe this is a buying opportunity. Carl icahn buying half a billion dollars worth again. We have someone joining us who says carl is going to take a bath because apple is going down to. Hes hear to make that case. Were also two hours away from a crucial decision from the central bank, not our central bank talking about turkeys central bank. You need to care about this because the decision it makes will have ripple effects on your money right here in the u. S. Its all part of the emerging markets mess the currency things tha