Rise chip makers rally as apple asks suppliers to ramp up chip production cnbc learns bytedance has chosen the u. S. Bidders. A report beijing may need to approve any deal a very warm welcome to street signs. We have been digesting fresh manufacturing pmis this morning. We have heard on individual country basis already. We are awaiting the eurozone number you can see the euro has been holding firm it has been a little bit of a mixed picture with france and spain slipping into contraction. Germany and italy have held firm above the 50 mark. Based on indicators, investors were expecting a little bit of t final manufacturing pmi in line. The mix of Different Countries coming together that means the overall region has come in line with expectations. Not just europe but we got chinese data overnight and has expanded in the fastest rate in almost a decade. Thanks to a rebound. The survey came in at 53. 1 in august the fourth consecutive positive month. Ill give you a check on Chinese Markets
Breakthrough with the u. S. You dont get security by praying for it. You must invest, you must do what is necessary. And the europeans need to take the necessary action. The United States has, in my view, shot itself in the foot by withdrawing. Matt welcome to bloomberg surveillance. Lets check in on the markets right now. Here in europe, we see drops across the board. Not as steep as they were at the , but you can still see the stoxx 600 is down. 3 . And some of the individual or regional indexes are down further. The dax, for example, down. 6 . Down, as yous are would expect, with a big drop in netflix in overnight trading. Netflix said u. S. Users actually shrunk, shocking the market. Dragging on and adding to an already bad earnings picture. The u. S. Dollar is down. 1193. 55 and other currencies, especially the yen, are getting momentum. Coming up, we speak to the chief officer of a lecture looks electrolux. There are a slew of earnings coming out and it is moving the needle. Lets
S. A. P. Out performs thanks to double digit cloud revenue growth. The u. S. Says egypt will open the rafah crassiossing to w aid into gaza. Coinbase picks ireland as the base and washington is preferring to pick fights than resolutions. It is perhaps they take advantage of the tragedies that occur to focus on sectors or industries. Good morning. Welcome to street signs. Tesla and netflix have kicked off the tech earnings with both reporting after the bell yesterday. Netflix is up a whopping 13 . Tesla in contrast down 4. 5 . Lets detail what we learned. Tesla has posted the first top and bottom line miss since the Second Quarter of 2019. Vehicle price cuts drove margins down 16. 3 excluding credits and marking a fourth straight quarter of decline. Shares initially rose in trade, but dipped as ceo elon musk said he is concerned about high rates weighing on consumers and emphasized the need to make its cars more affordable. Im not saying things are bad, im saying they might be. I think
Street. Im Carl Quintanilla a strong close with buffett on squawk. Fed chair pal on the squawk tomorrow we begin with futures pointing to a sharply higher open on the twoweek rally and buffetts advice for the longterm investor despite volatility, buy equity, not bonds. Ge is planning to restate three new candidates to a streamlined board of director. And the chip war continues over qualcomm urging broadcom to engage in direct talks for a takeover deal. Buffett is one of the big stories of the deal saying Berkshire Hathaway received the new tax law. Heres what becky said earlier on squawk. We had about 100 billion of unrealized gain in equities. Now, when they are sold, you pay tax on that. And previously when the tax was 35 , we would have had a 35 billion reserve for taxes against that as a liability. That would drop to about 21 billion. So 14 billion roughly that was a reduction in the amount of tax that when we saw those securities, we will pay. It wasnt cash now, but it reduced the
And chinas economy bottomed out. Brent and wti climb back gains after settling at the lowest level in 2009. It was a rough session overnight. Housing a big part of the story. Were just hearing from one of the luxury Home Builders reporting q3 earnings of 36 cents. Thats well below the analyst expectations of 49 cents. Revenue was to come in around 1. 03 billion and revenue coming in line with expectations. We should point out the stock closing lower yesterday following the Broader Market sell off losing about 4. 7 but year to date up about 5. 7 . Responding to the housing data over the past couple of months but back to the market sell off. The dow seeing a 4,000 point move in one session. We just captured the highs, lows and where the dow closed. At one point in the beginning of trade we saw the dow down by around 1,000 points. Some traders sending me pictures just showing traders clued so their screens and cnbc saying what kind of ride are we in for . We saw the dow coming off the low