Rose. Microsoft saw a better First Quarter revenue, helped by demand for Cloud Services as more people work remotely. Sales through september topping 37 billion. Melbourne, the merge from a melbourne emerges from a strict lockdown. Ours and restaurants are reopening, even home visits are allowed. Shery lets get you started with a check of the markets. U. S. Futures opening lower, down. 4 . This after stocks fell to a three week low in the regular session. We had cyclical stocks taking the brunt as virus cases continued to climb globally. We have the nasdaq composite pulling back of yesterdays losses on the deal around amd. Durable goods orders coming in better than expected. Lets see how things are shaping up for the asian markets. Here is Sophie Kamaruddin in hong kong. Sophie we are seeing losses continue here in asia. Chip stocks very much a focus after amds deal to buy. Earnings. We have results from sony, zte, as well as budweiser asia to name a few. And a straley or, we have had
American companies should move production out of china and back to the u. S all of this with the eyes of the world on jay powell in wyoming Steve Liesman has been talking with the most powerful central bankers and will join us in a minute but to e lolon where the president lunaunched a tweet storm. On september 1st, the chinese imports supposed to be taxed at 10 will be hit with a 15 tariff on october 1st, the tariffs on 250 billion in chinese goods that were already in place will go from 25 to 30 . And then on december 15th, all of the products that we import from china will start being tariffed the rate will be 15 instead of 10 . In the tweet storm, trump said that china should not have issued retaliation tariffs 75 billion of goods and called the move politically motivated we know trump was huddling earlier today with the top trade and economic advisors how to respond to beijings move. They were all there and just before or just as that meeting was happening, the president went on a
Earnings tumbled 26 for Carlyle Group you you have exits and new deals slumping. From new york, i am alix steel. Welcome, everyone, to Bloomberg Markets. From where we are now to where we were in 2011, when we had the s p downgrade, the u. S. Is completely different. Sitting in the chair now, looking at market reaction, you can feel the difference. Guy absolutely. The market is struggling. They are saying, we already knew this. But does that mean you can ignore it . Im not sure that you can completely ignore it. I think theres an underlying message here. There are three factors used here, in terms of the downgrade. One of them is clearly that the government is going to continue to spend. We will have bigger deficits, higher debt to gdp. I think that will have this Going Forward for higher Asset Classes. Is it real assets, things like commodities . I think that is something that will maybe percolate for a well. Alix in the budget deficit we do have, has that helped us since covid extend
Estimates thanks to surging mobile ads on the news feed platforms. The company is now turning attention to monday he tiesing messenger and whats app. Were starting to put some ads in the product just to see the basic parameters on how that performs, how people like the ads or dont how they work for businesses and just try to get an understanding of that. So were starting to run that across the world all this, of course, is the market is hitting record highs the nasdaq is on pace for its best month in about a year due in large part to the tech names. On facebook itself, lets start there. Weve been talking about monetizing the acquisitions for years. It is finally happening . Its incredible that it really isnt happening at scale yet. Theyre just starting with instagram. They have the other huge platforms with whats app and messenger. We dont know how well they will monetize instagraem, highly visual, great video platform we and others are seeing huge usage in consumption of videos the id
Stocks going for their best week of this year led by discretionary utilities and health care and how about nike today. Investors are simply loving that news. Kevin, nike doesnt pay much of a dividend, but they are rocking today. Wonderful thing that happened. We were so concerned after macys and nordstrom blew up thinking its all over. Consumers dead. No low cost energy dividend. Where is it . Now we see the light, the green chutes. As you said, it depends where you are expecting the consumer to go. Not going macys. They continue to buy stuff from nike and ufshdarmour and other retail names. Abercrombie, footlocker, ross stores. Its a story that you cant say about macys. I think when you look at a nike, its important to say, hey, there is a vibrant consumer story here. Not to extrapolate that out and say i want to oent rtx. Thats probably not going to work. It hasnt worked all year. Feeling pretty good about that. Thats one of the considerable longs in our portfolios. Weve been constru