Report by the Transportation Department Inspector General says the faa over a twoyear span more than 5500 exemptions, unmanned flight by businesses but it reportedly offered only limited training. An anglo merkel is making a liberal critics of her immigration policy. She says she will protect the country against future refugees and called for a ban on face fails one by muslim women. Spoke at a convention global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Scarlet live from bloomberg World Headquarters in new york, i am scarlet fu joe i am joe weisenthal. 30 minutes from trading in the u. S. Oil scarlet scarlet slipping from a 16 month high. Joe the question is what did you miss . Scarlet the trump rally might be good in the short term but in the long run, it could hurt profits. According to bill gross. More highlights from my conversation with him. We will look at the cash chaos in india and one of the prime minis
Economists who were looking for improvement because of things like the louisiana letting and wildfires which depressed the data for august. ReConstruction Spending month over month was a disappointment and came in at a. 7 . Economists were looking with that to be at a positive figure. We will break that down in just a little bit, but i want to have a look at the markets now as well, but you uptodate 30 minutes into the trading session. The majors are lower. The dow is down by hortense of a percent by 4 10 of a percent. Eight point 22160. To 2160. Autsales not helping either because we had some misses although you would not see that on the share prices. General motors up 1. 25 . Ford also just really missed. Down 8. 1 . Analysts looking for sales to be down 8 . Again, i would say all of these carmakers had bad months down. We did get an improvement from nissan and tesla. Mixed day for the carmakers. We have a deal to talk about today. Elliott associates succeeded in pushing for a deal b
Persistent low inflation we have seen. Again, the number, 91. 2 better than had been estimated. So, what are we seeing of the stock market in the meantime, we had been seen a rally already. Nothing in the number to dissuade us from the rally, bouncing back from yesterdays deutschebank induced declines. We will get more on deutsche you in a few moments. All three major averages are trading higher. If you look at the recovery we have seen, you can see it in the futures overnight. Yesterday we had a slump in stocks. That slump continued until the Early Morning hours here, and then we have seen this turnaround in the u. S. Futures. Also, it is a relatively broad rally. Most of the groups in the s p 500 are higher with the exception of real estate. Energy leading the gains. Consumer staples, financials, telecoms a mixed bag of the types of groups higher. Financials bouncing back, but that we have defensive groups, cyclical groups a mix leaving the game. Energy shares are higher. Oil prices
Official anymore . Scarlett i dont know. Wednesday is official because j. P. Morgan is reporting. Julie whether you are talking about alcoa or the banks, there is not a lot of optimism when it turns to earning broadly with energy or financials. We have seen a pairing of gains today as we have gotten deeply into the session. The s p 500, if you look at the intraday move we have seen, it has been moving from steadily lower, a leg up in the past few , downs, but none the less sharply from the highs of the session. Lets take a look at the s p 500 profit estimates and the change we have seen in estimates. This is the change that we get quarterly. We are talking about a 10 percentage point swing in these estimates overall. The estimate is for earnings to fall 10 in the quarter that we are about to learn about. Definitely a lot of pessimism going into the season. The caveat we always talk about his companies tend to be by a high rate. As always, it will hinge on not just the reportings but wh
Sugary drinks that are not selling like the used to. Welcome to Market Makers. Im Stephanie Ruhle. Erik schatzker is out today. Have a special cohost this morning. There is nothing worse than a person sitting next to a person getting their name five euros sample deli bobby o scarlet fu is in the newsroom wholesale inventory data. Wholesale inventories increase at a slower rate in the month of december. Again of 1 10 of 1 . Looking for an increase of 2 10 of 1 . This marks a slowdown from the 8 10 of 1 that we got in the november period on the month over month basis, that was a drop slightly larger than what economists had been anticipating. Carl written on a word warned that this would not generate thats pretty much the case right now when you look it how stocks are performing. They are holding on to their games. Hard to say. Stephanie it is time to take you to topic the stories of the morning top business stories of the morning. Shares of cocacola are trading higher this morning. Coke