We will get thoughts from gene munster. Hospitality disruptor. Shortterm holds that combine elements of hotels and apartments. Will hear from the ceo. But first to our top story. Tuesday ons on averages, but Something Interesting happened during the day. The s p 500 tech index closed down slightly. Is this a sign of trouble to come . Joining us to talk about what this means is bloombergs abigail doolittle. I want to take a look at a chart im showing in my terminal which highlights some of the profit taking. I am wondering if that is what happened today given the overbought levels on the tech sector. Abigail i think you are dead on with that, taylor. That is exact a what that represents, you little bit of profittaking. That stock up so much this year, and that is really what makes today so interesting, the nuances you were talking about, the nuances, each finishing at a record high. The stocks and chip index also finishing i record high. The reason that stands out is they are leading up
Maria big show this morning, joining the conversation fox friends, pollster and maslansky partners lee carter and chairman and ceo john peebles. Great to see everybody this morning. Great to be here. Maria you heard it here first, usmca is coming to the floor, House Speaker nancy pelosi announcing that House Democrats have reached a deal with the Trump Administration on the trade agreement, the pack likely to be approved by congress after the new year, the senate might not take it up until after the impeachment trial, President Trump and nancy pelosi weighed in yesterday as the impeachment battle raged on simultaneously. The Silver Lining of impeachment and witch hunt, thats the reason they approved usmca, thats okay with me because they approved it and they are very happy to have it. Theres no question, of course, that this trade agreement is much better than nafta, but in terms of our work here it is intimately better than what was initially proposed by the administration. Maria i th
Will we had that 2 as we continue to get a trade deal . Time now for global exchange, where we bring you todays market moving news from all around the world. From hong kong to beijing, london and washington, our bloomberg voices are on the ground with todays top stories. In asia, chinese economy is showing signs of stabilization and regaining some kind of growth momentum in november. Chinas Industrial Production and retail sales both meeting estimates. Joining me on the phone is in an. Current is enda curr give me some of the details in the data dump we saw overnight. Enda these clearly signal that the economy is ending the year on a better note. 8 . Il sales climbed Industrial Production rose 6. 2 . Theres some caution around the fixed Asset Investment number, which only grew 5. 2 , but nonetheless, the take away among economists was it showed that the stimulus the government is rolling out is having some traction. There were some seasonal effects as well. But when you have a trade ag
Yearoveryear number of six point 3 . Kind of a mixed bag with regard to some of the key headline embraced. Key headline numbers. Inflation and a Housing Department that seems to be chugging along. Guy the real number that stands out throughout the day is the capital goods number. Quite soft. Months this time really picking up. That is a sign of strength coming out of the u. S. Economy but i dont think people had anticipated and thats probably why we have seen yields rising at the front end today. These numbers confirm for the inflation story is going. Weve been hearing from the fed time and again they want to get back to target. They want to get some of these Inflation Numbers a little bit higher. Capital goods numbers drawing a lot of attention across the numbers. Start with the durable goods report and those capital goods numbers. Mark the numbers have been bad all year. In the month of october they decided they needed to go out and spend some money that thats good news for the econo
The hang seng at the moment. The two thirds of 1 . Lets look at what is going on with the nikkei. Market, we are seeing a move to the upside. A case of bad news and good news. Indicating they could institute Interest Rate cuts. Lets get to the other asset classes. This is where we find ourselves at the moment. It must have been quite a meeting between the fed chair powell and his boss, the president. It must have been. A yield to that has barely been budged in. We have been seeing them lurch higher. More uncertainty in the haven buying. Pence against the euro. That is sterling moving to six month highs against its european counterpart as the threat of a hard brexit recedes. Aussie dollar moving to the downside. Just under . 68 u. S. Where it istuation to the downside potentially. Theyof many are saying would not be surprised to see a 66 handle in the nottoodistant future. Then we have the Violence Center stage in hong kong. It is continuing. That continues to be our top story right now