We are counting down to asias major market open. Haidi treasury features are higher as fitch cuts u. S. Credit rating citing worsening debt and deficit and an erosion of governance. Janet yellen blasts the decision saying it is based on outdated data. The white house is blaming republican extremism. A grand jury and date donald trump on the attempt to overturn the 2020 president ial election. Shery Inflation Numbers from south korea for the month of july, the headline numbers is a gain of 2. 3 year on year. Coming in low expectations by economists not to mention it is easing from the previous month. The slowdown in inflation was pretty much expected due to the comparison with elevated figures during the month last year. Month to month numbers a gain of. 1 which is again below economist expectations. We are expecting this number two perhaps push higher in the month ahead. This is after julys heavy rains could apply pressure on this number. The core cpi number which is what the back of k
Is here to tell us when his fund will launch and at what price. If you have crypto fever, you dont have to look away from the screen we have our bitcoin watch fired up throughout this hour. First we start with the dow on fire both the dow and the s p 500 closing at a record high, the dow 150 points at the high both indices posting their fourth day of gains, with the help of tax cuts on the horizon. It looks like a deal on the bill is close lets get to ylan mui in d. C reporter melissa, republicans are closing in on the final version of the tax bill two sources tell me the corporate rate will land at 21 . Its unclear whether that will kick in right away or not until 2019 but that is slightly higher than the 20 rate that was in previous versions of the bill. The top individual rate, that would fall to 37 . Thats lower than the senates original proposal for a 38. 5 top rate the detection fduction for morte interest, would only apply to new loans. Existing mortgages would still be grandfat
Keeping an eye on some of these gaming stocks when the session comes alive and a half hour. The situation when it comes to massmarket vs vip. Turquoise is the color for the mass gaining market. To itsprofits surge highest before a chinese ernment correction government corruption crackdown. Two years before restrictions sent profits tumbling. A sign that the industry could be singing these records again next year, before hitting a new peak in 2019. Expected policy changes out of beijing could be the major headwind. Revenues could rise 14 next year, according to our survey. The ip gamers expected vip g expected to be the key driver. We will have a look at holdings when the session gets underway. Haidi just in time for the holidays. Going into Chinese New Year as well. It is interesting, that breakdown. They are expecting a expected ty pickup in the vip and also massmarket. It is an interesting session, a subdued session when it comes to equity leads, getting closer and closer to the chri
Swing. Bank of america kind of mixed, Goldman Sachs sees a plunge in trading. The ceo blankfein may call it a challenging environment. A new hot seat of a new look at the an coventry trust risk to big tech the biggest reversal for the dow since february of 16th the blue clip saw 380 points trading range after hitting 26,000 for the First Time Ever s p 500 reaching 2800 before finishing lower. Jim, you said this time yesterday, you dont like big opens and midmorning you watched the transport starts to roll yes, it was surprising because really it was not anything happening there is nothing happening was yesterday based on unh being good it was anything that was reasonable oil going down and trades going in the wrong direction you have to base an opening on something other than gut and instinct it can turn against you. The market will come to you, there are people that want to sell there are people that want to sell right here. Theyre going to drill big and hope something underneath. The
Equity, stellar, super killer, 1. 92 million. I want to highlight their Wealth Management. That revenue, 4. 4 billion, better sequentially. Margin dipped a little bit at 26 , but that is their breadandbutter and looks very solid. David they put so much investment into Wealth Management they said it is a big part of their future. The margin down a little bit, but they are still doing well. Morgan stanley does more equity trading than others, so there equities are good. Alix Goldman Sachs, the highlight for them was their Investment Banking revenue, but Morgan Stanley showing no signs of letting up. Is 1. 55 compared to an estimate of 1. 3, so they are beating there. Alix joining us are Alison Williams, and on the phone is can leon. He is a buy rating on Morgan Stanley with a price target of 59. You are big takeaway . Is an i would say ficc little bit of a surprise, but no surprise coming in strong. We expected markets to help their execution, and it looks like they are right on plan. Th