Were affected but no sources of drinking water. 74 people have died after a fire broke out on a moving passenger train. The blaze was caused by [indiscernible] survivors say it took the train nearly 20 minutes to come to a halt after the fire began. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im ritika gupta. This is bloomberg. Shery live from bloomberg World Headquarters in new york, im shery ahn. Amanda live in toronto, im amanda lang. We are now joined by our bloomberg and bnn bloomberg audiences. Here are the top stories we are following from around the world. China is skeptical about a longterm trade deal. Sources have told bloomberg chinese officials will not budge on the thorniest issues, even as the two sides inched toward a phase one deal. Another blow for Canadas Energy sector. Driller announced its plans to move its headquarters to the united states. Maker ultra is taking a 4. 5 billion c
Will be one and that phase one will be signed. Cigna has recovered all of its declines come out with a great orderly report today. Sold a bit on the news, perhaps some people taking profits. If you want to hear what David Cordani had to say, it is on the bloomberg terminal. We spoke to them a little earlier. Guy stocks are down by just a touch. Chinese pmi data overnight also adding to Downside Pressure here in europe. We also have the oil sector lower. Ell angs out from sh little earlier on is a factor in the market. 41 on the german tenyear. The hero just beginning to slide over the last hour or so. It was up earlier in the day. We are tracking the dxy level at 97. The market seems to be paying a great deal of attention to that one. The fed cutting rates for a third street meeting, and fair for a third street meeting, and fed chair a Third Straight meeting, and fed chair they will signaling pause. Basically, we are in a manufacturing recession, but the u. S. Consumer has been resilie
The month but after all october a treat. S p gaining more than 200 hitting alltime highs along the way. Here is the question this all halos eve have we reached the Witching Hour for the markets record run, tim well, look if you think the fed is on hold until mid2020 it could be a spooky time for markets because the markets expected accommodation they are your friends and therefore the witchs brew is probably in the form of the data if you look at the chicago numbers this morning, especially the new orders component took you back to march of 2009. It tells you the impact of what the trade war has we dont know really where we are. But look in the absence much a political shock ill leave it at that and in the abens of china walking away from the table, the fed is still your friend and injury youve had a Third Quarter where you had surprise to the upside. I would say its not all that spooky this halloween. I think todays pullback is appropriate relative to some of the macroa day after the
What, what have we got here, 8. Revenue up, ad sales up, profits up, and there are now 2. 45 billion active monthly users. It was a spectacular report. Stocks up. These two stocks are helping the market but a statement from china has put a damper on things. Beijing says its doubtful that a longterm trade deal can be reached. China concerned about the impulsive nature of President Trump. Where did they get that from . The dow industrials down about 50 at the opening bell. S p down six, a fractional loss for the nasdaq. Then theres politics. Namely, the vote in the house this morning, starting the impeachment process. This has consumed the congress. It has not consumed the market. It seems to be ignoring d. C. Entirely. We will follow it and pay special attention to votes of moderate democrats from trum trumpleaning districts. Will they approve removing the president from office because of a phone call to ukraine . Cant wait to see. Stay right there. Varney company is about to begin. The
Meeting with, and of course better known as the new nafta. And the s and p and the nasdaq hitting new highs. Lets bring in our investment committee. Joe, stephanie and john, marg reet reed, union bank private bank, and rob of ubs private wealth management. So stocks, joe, pushing to new highs. Youve got the president who is probably going to tout a strong economy, high gdp, low unemployment is he going to give the market another leg up i think you and i used the phrase coiled spring here we are, we are springing higher, with very good reason. I think when youre looking at the steepening of the yield curve, the uninversion, if i could create a word, the uninversion of the yield curve, theres been a significant rebound in yields. And then earnings, and steph talks about earnings all the time eps gross was expected to be negative, 3 to 4 we came in down only 1 . So i think there is a lot to present a very fertile environment for the capital markets. Every asset class is higher. Where is t