Official approval. Speaksstanleys boss exclusively to bloomberg, warning the fed against cutting rates. Ive supported the latest fed rate cut and i suspect they will do one or two more. But then it is time for a pause. Shery more from that exclusive interview with james gorman ahead. Plus in Bloomberg Technology global link, aps incremental tweaks to the iphone lineup. We will ask if that is enough to lure buyers. Thats get you a quick check of how the markets closed in the u. S. A bit of a rocky session for markets. Gains and losses but throughout the session getting a bit of a boost. The dow up three tents of 1 . The s p 500 unchanged. Media reports talk about chinese purchases of u. S. Agricultural goods. Greato have not so optimism when it came to bail trade negotiations and those concerns wait on tech stocks with the nasdaq unchanged. We have Energy Stocks higher with oil fluctuating after the National Security advisor was let go from the white house. Lets get you started with a q
Virtually all subpoena 500 sectors are down. S p 500 sectors. Thisjackie deangelis is here wat breakdown. Reporter good afternoon, neil. October has gotten off to a rocky start i would say. The fundamentals of the u. S. Economy had been holding up but the data is signaling that there are some cracks there. Today es nonism manufacturing number is important, showing slowing growth in the Services Sector. Reading of 52. 6 is down from 53. 4 in august. Fed cutting Interest Rates, reacting sharply, forecasting another quarterpoint move lower at the fomc meeting at the end of the month. The number is essentially neutral but it indicates sloyer growth here. We earlier saw a slip in manufacturing as well. You combine two of those things there is definitely a red flag. Meantime bed, bath beyond, increasing number of stores it is planning to close. In april it said it would close 40 stores. Now that number bumped up to 60. Retailing in general, 4600 store closures for the year announced by u. S.
Traditional cigarettes. One attorney general has filed multiple lawsuits to keep them out of the hands of teenagers. But first, to our top story. Ubers ago, movers infamous ceo was forced to resign. Executive came in and was forced to rebuild the reputation. He has brought in new management but has not been a smooth ride. A big ipo Spark Investment but investors have not been impressed and has traded at a low price since. I sat down with goobers ub ers ceo and began by asking if you made the right decision to join the company. we have resolved the conflicts the company has and there are many issues the company was involved with. You have softbank is a partner. Nd you want them behind you we have a great investor base. We have taken the company public. Revenue has grown 75 since i joined. We now have a path to profitability. So while we have had bumps on the road, i like the position we are in now for the next years. Emily there have been bumps on the road. And despite all the negative
Deal as President Trump says he is scheduled calls with president shi xi jinping the highest this session was 334 on the dow coming up, gregg lemmkau live and exclusive. Lots to talk about with him on the market merges, ipos and the outlook for the rest of 2019 joining us for the first full hour of the show, keith bliss. Crazy week, now only down one percent. Talk us through the roller coaster five days of trade, the key levels that we have and havent touched. Sure. So overreaction. My theme has been overreaction and you certainly saw that in the monday night going into tuesday trade, a lot of what you have in the market today is a lot of program and algor rhythmic trading as opposed to humans die jesting the information. So you saw that overreaction we actually touched another oversold level that we had picked up from august 5th. So we were already oversold. That just went further down and the yield curve, the 210 inversion was only a basis pointer too and the amount of selloff was ce
Welcome to bloomberg surveillance. I am in zurich speaking to the leadership of Credit Suisse. Lets check in on the markets. , the share price may give a bit of a lift to the markets. But the main news we are watching out for is what is going on with the fed and whether jay powell can do something that will surprise the markets. For the moment, it seems like a 25 basis point cut is already priced in. Later on, we are expecting data out of europe. Im looking at what is going on with the u. S. 10 year yields ahead of the fomc and looking at the pound. Are wonderingrs if Boris Johnson will reverse course. Coming up on bloomberg surveillance about more for my interview with the Credit Suisse chief executive. Speak to lori l chief executive later on the program. We talk about the state of the democratic candidate race with howard dean. But first, lets get straight to new york city. We begin with the u. S. China trade talks, they ended early in shanghai. There were no public comments. Negoti