It is now heading in the right direction. Expect incoming tweets. Preparing for the next downturn. We are more cautious today than we were in 2009. Nejra Elizabeth Warren explains how she thinks about u. S. Trade policy. I want to see a coherent plan for anyone who wants access to american markets. Nejra its all straight ahead on bloomberg best. Nejra hello and welcome. This is bloomberg best, your weekly review of the most important Business News and interviews from bloomberg television. Let us start with a day by day look at the top headlines. Chinas economy showing signs of stress from the trade war. First told of a positive story. New numbers told of a positive story. Hope over the countrys recovery. Roseweeks official pmi for the First Time Since april. What do these numbers mean . Squad . E swallow make a it is a positive headline, no doubt about it. Both the official and private sector are headed in the right direction. The reason for pause is seasonal affect behind that. He Hol
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
Reporters. Taylor i will take a look at a chart here i am showing which is looking at the s p 500 for the month of december. I know it is only the first day of trading in december. We are off about 0. 8 . This comes after a very good november in which we had our best month since june. If you think about historically where we have been, december 2017, nothing really happened. December of 2018, a big bottoming out. The index lost more than 9 , bottoming out there on Christmas Eve before a big run up which led to the 25 gain or self we have seen gain or so we have seen this year. Is relatively muted. Still early days. We will have to see how the rest of the month unfolds. Called the skew index, the panic index. Last summer, well ahead of the Fourth Quarter volatility, the skew index in white here, highly elevated as the vix index. Stocks took a big nosedive in blue. The vix then caught up. This year, volatility relatively suppressed as the s p 500 going for near alltime highs. Since octob
Australias biggest business bank. Theteargas returns to streets of hong kong as police and protesters clash again. First, lets get you started with a quick check of the markets close on friday. S p 500 index seeing the biggest fall in seven weeks. Of course, there are people just waiting for any sign of progress on the u. S. China trade negotiations. At the same time, it was a shorter trading day just after thanksgiving before the weekend, so it was 16 below the 30 day average. Energy and Consumer Discretionary leading the declines. Nasa fell and nasdaq fell half a percent as well. We have the opec plus meeting this week. There are signs they may not want to cut even further at the moment. Lets see how things are shaping up in asia. After managing to cap a third month of game, asia stocks tech starting december trading, nikkei futures up more than 1 in chicago. Ross mcewan starts monday as the bank faces a list of challenges. At the weekend, the australian newspaper reported they faile
Come on and address members of the media to tell us what is going on. She has not been seen for quite a few days. Nikkei to 25 decline of 2 . Seng, the worst run of losses we have seen since the hangover. Lets get to the currencies because the trade war is certainly having an impact the yen seen as a haven trade once again. Appreciating to 106. It at thee to see moment. Korean yuan continues its fall back as well. For thet below 1200 First Time Since january 2017. Trade tensions not between just china and the u. S. But south korea and japan taking its toll. Cny, the seven handle being breached. Gain of 1. 1 . We see the dollar index actually flat. David our top story right now, the latest on what is happening in hong kong. General strike today. Flights already cancel. A couple disruptions for public transport. Over the weekend, the city witnessed more violent protests clashed with police. Warnedthe other thing, that beijing will not let the unrest continue. Sophie kamaruddin is at the