Betterthanexpected chinese data, giving a lift to the market. It may have gotten a little bit better. Opec up 1. 7 . Of november manufacturing also ,oming out, that tmi figure indicating a contraction because its below 50 but better than the 46. 6 that was our preliminary preview. Coming up its merger monday, all things deals with the cohead of global m a a jp morgan. Lets get straight to the bloomberg first word news. Signaling they will consider deeper cuts ahead of the latest opec plus summit. This is despite the rest of the coalition showing reluctance to refuse output reduce output even further. The meeting in vienna starts in december the fifth. The Junior Coalition partner in the German Government electing a new leadership, throwing the government into crisis. Social democrats are bringing in a team that vocally opposes the alliance with chancellor Angela Merkel. The new leadership signaling it wont bring an abrupt end to the coalition and its more likely to put forward a set of
Time now for global exchange, where we bring you todays market moving news from all around the world, from hong kong to berlin, to london, sao paulo, and new york. Our bloomberg voices are on the ground with this mornings top stories. , china said it would sanction and american organizations close hong kongs port. Joining me from hong kong, and the current hong kong, enda curran. Give us the latest. Enda what they are doing is targeting a couple of groups, including Human Rights Watch and freedom house, for sanctions, and putting a stop on u. S. Navy ships coming to hong kong. But we dont really have many more details beyond that. We know that there are already some restrictions on ngos operating within china anyway, but the big take away is they steered clear of any economic issues, anything that would upset the trade talks, which are , by all accounts, still on track. There was better news on chinas economy today. But the official and private sector pmis pointing in the right directi
Steeper falls on this but this is still early doors with what is going on with the benchmarks. Certainly what we also have going on is the treasury market as well. Seen a bit of the paring of the gains we have seen. Yields moving slightly to the upside. 1. 71 or thereabouts on that. Looking at futures. Flat for the s p on the futures. Lending a little bit of support. Cnh pretty much on move, we could see a gradually could get weaker. The offshore yuan 7. 07. Looking at sterling, we have 1. 30. Ver we have continued polls coming out suggesting the conservative well, boris johnson, did with the majority after the december 12 election. Thats what we have at the moment. Lets go to new york and join su keenan. Su we start with President Trump who is done a you turn on nato switching 180 degrees from his criticism to claiming credit for strengthening the alliance. Trump was especially vocal on efense spendingspens complaining that washington bears the burden for your safety. He warns nato me
Of protestive months in hong kong put the country and financial recession. Shery u. S. Futures unchanged at the moment after we had the s p 500 lower by. 3 . We had industrials and materials reading declines. Of course, we had concerns over trade negotiations between china and the u. S. , not to mention the weaker than expected manufacturing number and also jobless claims rising more than expected. We did get facebook and apple rising after earnings, and that offset some of the losses we saw across the board, but it still was not enough, so we had the nasdaq falling. 1 and the dow using more than 100 points. Lets see how things are shaping up in asia. Sophie after ending the best futuresnce june, pointing lower, kiwi shares off by. 2 as we wrap up a busy week of ecodata and earnings. Alibaba is to report later today. Data from china and korea will likely signal further economic weakness. A survey of chinese pmi in inober might see a pullback october. Were also going to get a bunch of p
It boils down to what we see with regard to the uncertainty. Futures contracts suggesting we will see a negative start, on top of a weak end to the trading day in new york, which isnt lwind. Y adding a tai sterling lurching a little lower, exacerbating losses in thesession in europe and u. S. Dollar a little weaker after strengthening quite radically after Justin Trudeau being reelected as Prime Minister, he cobbled together a coalition. Gold, interesting, with a little bit of risk aversion as it were. A look at whats happening, first word news, to su keenan. Flagshipealands International Convention Center Project faces a new delay as a fire at the construction site continues burning. It broke out tuesday afternoon, engulfing the roof. Police have closed roads, and people are being urged to stay away from the area. The latest on brexit. U. K. Officials say Prime Minister Boris Johnson will call an election if brexit is delayed until january 31 of next year. Johnsons push to take the u.