Coming through that china is slowing down. The country announce that exports fell by 6. 1 compared to a year ago. Francine meanwhile, imports dropped 14 . Lets cross live to our beijing bureau chief for more. Nick, what is behind a week data and what is it mean for chinese growth . Nick well, the numbers are little bit misleading, especially the import number because Commodity Prices have fallen so much. So this does distort the numbers a little bit. But it is the latest in a long line of dad data for the chinese it of bad data for the chinese economy. Maybe easing in terms of Interest Rate. The big question is going to be what are they going to do about the yuan . Aey said they do not want competitive devaluation, but low export numbers will increase pressure on them to guide it downwards. That is what we will look out for in the days to come. Manus the ongoing debate is speculation that there is going to be more government intervention. Theyve bought more than 9 of the freefloating s
Markets. What should we know setting up for next week . I did expect a little bit more downside or follow through from what we saw earlier in the week. 50 Day Moving Average is in the s p is, what is it, it is at 1657. We just got through it here on the close. Technically if we want to look where the next 100 Day Moving Average is 23 points down from the s p from here. That will be focus next week in the s p. Will the fed through the minutes or any of the discussion get us to that level. Right now treasury yields look rather robust here above 2. 80. David robust. A lot of people would say scary at above 2. 8. When you think where it has come from may. Down 1. 6. It almost doubled. Are traders concerned that this pace might continue, because if it does, were looking 5, 6 Interest Rates by the end of the year. Slow down there, pally. No, no. What is important to remember this. The historical levels we came from were insane. It was well overdone. At the same time we knew, as soon as we sa
The s p 500, up a fraction. The nasdaq composite also higher today. Technology one of the winners on the street. Up 16. 5 points. It was a market that really did not know what to make of the feds latest hints today. Lets check in with bob pisani. Reporter yeah, we were all looking for clarification on when the fed would start tapering program, exactly, and under what conditions would we end it. We didnt get a lot. Let me put up the one sentence that got closest to giving us a little more information. This is from the minutes. About half of the participants indicated that it likely would be appropriate to end asset purchases later this year. Well, thats not much more information, but its a little bit more information. The bottom line, though, maria, is we werent much changed. We did move up. The dow moved up about 50 points when the fed minutes initially came out. But then, very quickly, just moved to the downside again, and essentially ended up down about 20 points or so lets see, down
Restraint. Liz softbank expects to complete the more than 21 billion acquisition of the sprintnextel on wednesday. Softbank and sprint received final Regulatory Approval from the federal communications commission. Yes, it includes clearwire. Ashley gold was up at the end of todays trading session. Gold futures rising 1. 8 . Closing almost 1235 an ounce. It means the gold bugs recouped some of the laws losses they suffered last week. Liz north of the Border Police in quebec confirmed at least five people were killed when a runaway train carrying oil derailed and exploded in a very small town the tragedy could boost the outlook for pipeline operators projects such as the controversial Keystone Pipeline which some say offer an alternative way to ship oil. Ashley economists surveyed by reuters predicting the chinese gd. Growth likely slowed for the Second Straight Quarter to 7. 5 between april and june. Liz dont count greece out. N europe, greece got a nearly 9 billiondollar lifeline from
Britains secret Intelligence Service. Also, why is germany taking in so many refugees . And why is the rest of europes reaction to it solemn at best, spiteful at worst . Ill explain. Also, meet the man who wants to take in 100,000 refugees. This egyptian billionaire says all he needs is for greece or italy to sell him an island. Finally, paying taxes, donating organs, helping others, rather than send in the police, pass more laws and ban more stuff, can the government nudge you to do the right thing . Well, there is a nudge unit right here in the United Kingdom and we will talk to the head of it. Ioer. But first here is my take. As 16 republican candidates try to get noticed perhaps we shouldnt be surprised to hear crazy rhetoric and outlandish ideas. In recent weeks Chris Christie has proposed that all legal visitors to the United States, anyone with a visa, be tracked every minute like a fedex package. Mike huckabee has compared planned parenthood to isis because he says they both ta