Germany is set to rein in public and private parties. Its inflation rate falls further below zero. The ecb may need to do more. Christine lagarde speaks in 90 minutes time. Disney cuts deep. They will lay off 28,000 workers at its resort business, leaving one of the deepest economic scars of the covid era. Welcome to the program. Just gone 7 00 in london. Waiting for data to come out from the u. K. Economy and some news expected from shell. Lets get to the u. K. Data first. This is the final reading on u. K. Gdp, coming in not far away from where we anticipated it to be. Estimate was 21. 7. 19. 8 percent for the quarter on quarter numbers. These are all negative. A retreat of 19. 8 in the second corner. The estimate was 20. 4 . Thats just a small detail. We are dealing with incredibly large negative numbers. They are very backward looking. The real question will be, how does that data perform . How has the economy performed since the Second Quarter . How will liberal perform as we head
Too. Tenyear well above 1. 8 and 1. 822. A developing story from china with big implications for u. S. Companies the Financial Times reporting that the communist party now ordered all state offices to remove foreign hardware and software within three years. This could hit firms like microsoft and dell, hp, especially hard. Now analysts estimate 20 to 30 million pieces of foreign equipment would need to be ultimately replaced. The order is not yet public yet but was described to the ft by two Cyber Security firms so this is going to this is like the fallout from huawei this is the fallout from huawei everybody out of the pool at one time think about microsoft and by the way one of the names not on the list, apple. Interesting where is apple . Apple doesnt do a lot of enterprise work in terms of corporate maybe not government. Maybe not government work but. More of a consumer play i dont know. I was thinking about that this morning. Where apple plays in that. Apple is obviously threaded
Rebounding after a few sessions of losses. Lets get the details from Abigail Doolittle. Abigail bitcoin is one of the bigger stories. It is up 30 , breaking five major levels, climbing above 16,000 briefly. Around 15,000. Pretty extraordinary. The futures for bitcoin will itrt trading on the cme, will be interesting considering it will allow investors to shore bitcoin. It is up more than 45 on the week. Lets take a look at equities. On the nasdaqs 100, russell 2000, the biotech and stocks and chip indices. Biotech, up 1. 6 . We have seen some recent selling for stocks. Today, between bitcoin and some of these other indexes, true growth and momentum. A rebound, suggesting may be the tech selloff we have seen recently was a very shortterm phenomenon. Time will tell. Dig beneath the surface here, take a look at some of the movers we are going to see. Nvidia nicely,tocks up probably being helped by bitcoin, considering some of its chips are used by the cryptocurrency. Facebook and alphabet
To 10year bond market. Yields moving down by six basis points. There were concerns. Those have dissipated and the rally is pretty strong. Sterling down. 5 of 1 . Three week low. Serious shade being thrown at theresa may today. Jonathan its one of the cruelest things ive ever had to watch from a politician for quite a while. David it was an important speech. Jonathan the letters dropping off the wall behind. Couldnt have gone much worse. Alix david . David time for the morning brief. Coming up, weekly initial jobless claims and trade balance will be released. And at 10 00, factory orders and durable goods and were going to hear from several members of the fed starting with jerome Paul George John williams and patrick arker. Bond markets trying to sort out the aftermath that President Trump might wipe out the puerto rican debt. Something they tried to walk become. And overnight, the puerto rican treasurer say theyre going to run out of money and had to shut the government down if congres
League baseball. The world series coming down to game 7 had to be. Were going to talk to christopher maddog arusso about the finale power lunch starts right now if all that laid doubt was not enough, will the fed stop this incredible market rally or keep the easy money flowing. It is flowing now. A new month, mostly same trend the dow hitting record high. See the nasdaq turn low earlier. It was up. Some of your individual movers today, estee lauder about 10 . Company did cut its forecast and garmin up about 5 investors taking a big bite out of papa johns pizza that stock down 10 after lowering its guidance. Papa johns saying the nfl and its leadership hurt the company by not resolving the protest taking place people watching the game and people ordering pizza. President trump speaking a short while ago as he gets ready for his big overseas trip to asia. Tax reform and the next fed chief is among his topics. Thats right. This came in a Cabinet Meeting the president held today we believe