Difficulty of hitting it. They need to hit it if you are tesla or apple. Lets begin with apple. This from counterpoint research. Iphone sales in china following 24 . Lisa how much it this weakness in china and how much is this the nationalism around huawei and going away from apple phones . These are the Big Questions from apple and tesla. How much is this is endemic of an economy that is slowing. Jonathan lets go through these numbers from tesla. Tesla had a difficult session. The numbers from the china Passenger Car association, shipments out of the shanghai factory down 6 month on month and year down 19 . Lisa this is the reason you are seeing shares down 2 . Tesla is down more than 50 from its peak in 2021. This is very much a china story about demand for u. S. Auto manufacturers. It is hard for them to hit the price point. It is also about the idea u. S. And china are moving farther apart. He saw this with amd and regular issues that would get in the way of commerce. Jonathan tesl
System may go down. Im charles payne. This is making money. Breaking now, smart money continue to throw the towel in, the dumb money celebrate by sending tupperware shares to the moon. Capitulation version on wall street never saw coming. Now i have to wonder about soft landing folks. Im a little worried this bandwagon is getting crowded but i have some of the best on the street to hash it out. Julia coronado, jim bianco, theyre on board. The decivilization of america with victor david hanson. Stocks everyone should be buying now. Somewhere oppenheimer must be screaming about the drumbeats of nuclear war for some reason we refuse to hear. I will tell you all about it in my takeaway. That and so much more on making money. Charles it is without a doubt the digest global story right now, officials at a chinese zoo vigorously denying that Star Attraction is human being in a bear costume. Im saying it is a human being. That is not a bear butt. That im not expert that looks like a human bein
Surprise profit and Record Services revenue, but says weakness in pc and ipad could continue to drag down sales. And amazon shares rallying after reporting blowout profits beating on sales and the company issuing optimistic guidance as well interesting internals in the jobs report this morning 187,000. Unemployment, 3. 5 average Hourly Earnings, a touch hot, but the workweek shrank, mike, so total weekly pay, below expectations i think it all nets out to consistent with a slowing but still tight labor market and a relatively soft landing for the economy. You did have those downward revisions, so decelerating but also lower Unemployment Rate implies just not a huge supply of idle workers to draw from here the main market kind of bank shot on this is what does it mean for treasury yields thats been the story all week you have had longer term yields really going higher, not much because of repricing what the fed is going to do, but just in general, a lot of dynamics pushing in that direct
After the biggest quarterly drop in profit. And paribas sees a rise in income as trading revenue dries up and israel continues strikes on the gaza strip with Prime Minister Benjamin Netanyahu warning the military is stepping up preparations for a ground assault. Good morning warm welcome to street signs. It is risk off in europe after the brutal day of selling on wall street which saw nasdaq plunge dropping more than 2. 4 the worst trading day since february that set the tone for selling in europe this morning. The negative sentiment stateside spilling into europe we are seeing heavy losses in the auto sector in europe driven by mercedesbenz and volvo also in the banking sector, Standard Charter dropping double digit at the open after the profit miss. We will detail all those stories for you. Those are the headlines for you and the sentiment dominating the market which negative. Ftse 100 is down. 80 . We are seeing a pullback with cac 40 down o. 70 this coincides with the rise in bond
Intervening event would make it just really challenging to distinguish the tax act from the trade barriers, the pandemic, and then the high inflation and thats the challenge. Thanks so much, phil. Thanks, alan, for coming today and well take a 10 minute break and then resume at 10 00. I just want to thank you. [applause] the moderator of the session. Thank you so much for doing that. Thank you so much for having me. Welcome everyone. We desert all the result we should be worried about the deficit, climb above two and a 50 and how basically a massive problem. Talk to a lot of people should come speaking with steve eisen his famous from the big short last week and is said the deficit is been a concern for 30 years, it is never matter. If you want to bet you will be wrong. Heres the market perspective why it matters and why people care. I love the panel, i love these guests, torsten, you do put our charts and want to start with you mapping out from the market view why the deficit matters