Major market opens. Annabelle the top stories, asian stocks face pressure after wall streets full session of declines as the longest losing run since january. Dip buyers emerging in the treasuries market. Haidi President Biden works to win the votes of union workers, promising u. S. Steel will stay americanowned and saying he may triple tariffs on chinese imports. Annabelle and investors are waiting tsm see earnings with capex outlooks to potentially extending a 340 billion stock surge. Haidi take a look at how we are setting up when it comes to the start of trading in this part of the world. We are one hour away from the start of trading in australia, japan and of course looking ahead to trading any chinese markets. Given those threats of potentially more serious tariff implications from President Biden. Take a look at futures for sydney, upside about. 3 . We are getting labor market data out a little later, expected to show employment falling in march. We had a big surge in february.
More turbulent if not volatile period for stocks or yet another blip on the road higher . I think you have to look at it two separate ways yeah, the seasonal patterns which will take you higher into year end i believe, but whats added that element of volatility is clearly the tax plan. If its going to happen, its not. The market trades up and down on that, and my personal view is that that volatility will persist. They gave a christmas deadline for getting it done. I dont think it happens so these are buying opportunities that we saw with tech, alibaba, for example you have an opportunity to buy them down, and i still think that the underlying trends specific to these companies is so powerful thats when you want to get the buy. We mentioned this quiet correction, josh, that doesnt seem to be getting much attention at all 184 companies out of the s p 500 are in correction territory or worse. 36 of the index. Where i come from we call that rotation, and let me give you something that may
Good afternoon. Im Tyler Mathisen right now you can see the industrials up around maybe a tenth of a percent very small moves for the s p, nasdaq and the russell as well today. Utilities in health care, they are leading the way. Energy lagging today good day for semistocks, amd, applied materials. They are among the s ps top performers retail moving, too ross stores, home depot, all hitting lifetime highs but it is not completely pretty in the sector youve got macys, coal, lbrands and nike among the s ps worst performers. Caterpillar is up there so far this year. A great year for stocks. Unfortunately for investors, that is not normal, its not even the new normal and bob pisani, some of the things that made it unusual and we get back to a more normal performance in 2018. Hi, bob. The question is reversal to the mean they say 2017 cant happen again, but why not many traders say we cant have 20 returns in the s p because its just not normal look at the average. Its about 8 since world wa
Good morning everybody and welcome to the Economic Policy institute. Thanks for joining us today. Delighted to kick off the new hour and important and provocative panel on manufacturing employment. And weve invited susan house mann Vice President to present her manufacturing and employment data. And this debate is not new. In fact, Larry Michelle from the Economic Policy former president and now distinguished fellow raised similar concerns back in 1989. But this debate has raged and it has been an important under ping of policy debates that have to do with trade and automation and how we address issues or concerns around the Manufacturing Sector, the health of the Manufacturing Sector, and what policies might be needed. So im going to introduce the entire panel right now lets susan present her research, and we have carolyn friend to comment. And from university had hoped to join us here today but was presented from weather for traveling. So Larry Michelle will read his prepared remark.
Everton striker wayne rooney is arrested on suspicion of drink driving, the bbc understands. He was stopped by police in cheshire in the early hours of this morning. Good afternoon and welcome to bbc news. In the last hour, brexit secretary david davis has said that he is adetermined optimist about britains withdrawal from the eu. His comments follows a warning from the International Trade secretary liam fox that brussels should not be allowed to blackmail the uk into accepting a brexit divorce bill. The eu insists issues arising from the uks withdrawal must be dealt with before any talks can begin about future trade relations. In his speech to the us chamber of commerce david davis addressed the issue of the implications of trade imbalance throughout the world. The trick in this is to remember the end of it. One, we want an outcome thatis end of it. One, we want an outcome that is in everybodys interest. This is not a zero sum game. We all know, all of you know, those of you who negot