Everything has to do with the tax reform in the u. S. Dollar, a little bit affected by the tax bill. Theresa may made moves to rally the troops to have a common vision on what trade will look like. We will speak with the vice chair of rothschild. We will also speak to david herro. And then, we will speak to fed president the of dallas we did get figures out of germany and Business Confidence is at 117. 2. It is missing estimates just buy a touch. To be at 117. 2. Weseems to be ranging as speak. Lets get straight to the bloomberg first word news. Reporter donald trump has called russia and china rival powers to the u. S. As he outlined a new foreign policy. In a departure from his previous statement, he declined to mention Climate Change as a threat. Donald trump we also face rival powers, russia and china. We will attempt to build a Great Partnership with those and other thatries, but in a manner always protects our national interest. Reporter nikki haley has blocked the u. N. Security
In the wake of the tax bill, mostly passed, the dow and s p 500 are now rising. They had been wavering. The nasdaq falling as we see tech stocks under pressure but financials have been getting a list on perception the tax plan will be especially good for them. We have been watching upward momentum on the s p 500. If you look at the bloomberg, this is the ratio of the s p 500 to its 200 day moving average, trading well above that level. In terms of what percentage, by what percentage it is above the 200 day moving average, you can see by that metric, the s p is not necessarily stretched as folks figure out how much more the rally has to go. We have other related movers today. Fedex, speaking of taxes, this company says their profits will be higher than estimated as we see record holiday shipping. It is also potentially going to get more earnings as a result of tax cuts. Blackberry out with its numbers. Winning new customers from government and private firms. Their revenue coming in ahea
Could do with de stressing. And well be getting the inside track on the business of stress busting stock market traders could do with a bit of that this week. But for many of us, hectic modern life means we all need a some help to destress. Our next guest says he has the answer in a bottle. Today we want to know the billionaires space race elonmusk celebrates a successful launch of his new rocket if you were given the chance, would you go to space . Just use the hashtag bbcbizlive. I think some days salary would happily send me to space. Send your comments in sally would happily. I know we say this a lot, but were at another crucial stage of the brexit negotiations. Senior uk ministers begin a two day meeting later to thrash out the governments position on what relationship the uk will have with the eu after it leaves in march 2019. Business bosses have already warned the Prime Minister about the lack of clarity and the damage they say its doing to business. The british chambers of com
The eus chief brexit negotiator says theres been no decisive progress in this weeks talks with britains exit bill the main Sticking Point. Plus, green shoots of recovery how a bumper harvest is dragging brazil out of its worst recession in a century. Welcome to World Business report. Im rachel horne. We start in brussels, where the third round of brexit negotiations has ended with no decisive progress on the main topics those are the words of the eus chief negotiator Michel Barnier. He and his uk counterpart, brexit secretary david davis, have hinted theres been some progress on the rights of expatriates and the irish border. But theres one major Sticking Point money. How much will the uk will have to pay to leave the eu . Among a huge range of estimates, some suggest brussels will want this 70 billion although even higher figures been floated. The uk has said no way. So where are the numbers coming from . Well, britain makes a net contribution to the eu budget of 11 billion a year. Eu
Stay in negotiating the terms. Manus you are welcome to daybreak europe. Mnuchin isnt too worried about the dollar. The chinese are exporting like it is 2010. Equity markets are focused on the data rather than the revenue. There is the bond market that is telling us a little more interesting. The bond market simply doesnt believe the data. It didnt get the memo. You had the gdp number which is retrospective but the bond market lost 16 basis points. That is the steepest monthly decline. Since june has had 2016. We are within spitting distance of the lows set last week. Analysts said you should be 50 basis points higher than where you are now. They said we would be at 3 but the bank of nova scotia summed it up beautifully, this is uneconomic. 1. 4 . Ality is pc, it is the fifth straight month of being below the target of 2 . If you are in the bond market, you are in the 1 . , on thee in stocks verge of 1. 2 . China delivered the numbers, the reactivation. Youve got the eighth month of ga