Night. And exxon breaking below the twoday average but taylor swift in have been aty fair prizing the company. At least its still above the ipo price. Earnings coach with a pretty good beat. Cvs plagued by disappointing guidance. In china, investors must wait one day to cover positions and pay back loans to buy shares. This comes one day after the u. S. Shares fell. Shanghai managed 3 . Come firms saying were out, for short selling. This lasts for what i feel that the Chinese Government honestly, i dont think theyre idiots. They watch our show and understand things and they recognize the market has gone lower. Lets make it go lower at a slower pace. I think people are presuming the government is trying to prop it up. I think the government is saying listen, this is your chance to get out. We screwed up. Were trying to be in correction course. Its a totalitarian government. Theres not an election. If there was an election theyd throw them out. Thats not it. They have a fiveyear con fab,
A new report to his clients. Hes here with us at post 9 to share it with us and share it with you. Laszlo, nice to see you again. The front cover says it all ill hold it up, as the big reveal, 3200 on the s p. When and how . Most people dont realize that were now in the second great greatest s p rally in history and were actually ahead of the 1990 rally. And if the the market continues to gain 11 basis points a day as it has for the last six years. That two years out or so, were going to be over 3,000. So its more a matter of guidance. Were trying to tell people stay with it dont let the bad news shake you out. We heard all of this before. And theres no reason why we cant go back to as much as 1990. Theres no reason why we cant keep on going. The market feels a little tired, theres news thats been unsettling investors from earnings that arent that great. China, the economy slowing down, the stock market crashing and unsettling people. Theres still the Economic Situation in europe. I co
Thanks, simon. We begin this hour with trading troubles in the market. The three big areas were focusing on macro, fundamental and technical, and dominic chu will lay out the bull and bear case for each. Dom . Theres strong and theres a lot of them on both sides of the equation. Sure. Lets talk about the macro Bigger Picture scale first. First of all, you have at least whats perceived to be some economic strength or resiliency. Maybe not robust growth. Still, in the eurozone and the u. S. , yes, i know the eurozone is stepied at best and may be slipping back to recession but its holding in there and the u. S. Holding it better than most economies out there. Thats kind of the bullish case if you want to see it that way. Take a look at china though. Slowing growth there. Growing faster than any of us out here, but, still, that slowing growth may be a huge case for the downside of chinas economic woes really deepen as the market it your miles condition. Lets take a look at whats happening
And 13,000 residents who have evacuated their homes. The fires have now jumped a highway being used as a containment line that stretches across some 60,000 acres north of San Francisco. Adrian beltran for Texas Rangers scored the third cycle of his career hitting a home run in the fifth inning as the human masters. Only the third player, first since the 1930s to hit a single, double, triple and home runs at three different times in his career. An incredible and wild scene out of bulgaria were a soccer game called a friendly turn not so friendly. A visiting team from israel was chased from the field by fans. Unbelievable video throwing bottles and all kinds of other stuff. No word on any injuries. Back to our top story this morning. And election 2016 alert. Fox news that with the numbers leading to thursdays gop debate and Donald Trump Holding a commanding lead over his competition. The billionaire businessman continuing to gain ground. Also the highest level of support in the history o
Minutes, we are joined by hsbc advisor stephen king. Francine first, chinas yuan has triggered the biggest twobase hit law since 1998, fueling concerns that market volatility will slow growth. Manus the peoples bank of china lover the reference right today, just one day after cutting it by a record 1. 9 . Lets find out how the markets are reacting. Dollaryuan. D you im going to show you the flipside today, yuandollar. Effect,u get the down which is more important. The yuan sinking for a second day. The twoday drop, 3. 61 . That is the biggest twothey drop since 1994. Ripple effects are being felt across global markets. Chinas Central Bank Says there is no economic or financial basis for the Exchange Rate to fall continuously. Ill let mr. King decide whether that is the case. A Ripple Effect is being felt in bond, commodity, and stock markets. Look at the msci emerging market index. I showed you a oneyear chart. Was ther, september 3 peak for the period. From then, through to yesterday,