House Economic Advisor larry kudlow someone we know and love worked here a long time. Saying that the u. S. And china are getting close to an agreement. He described the talks being very constructive in his words saying the mood music is very nice that has not always been so in these things. He sded that the president is not ready to sign the deal just yet. Also getting word in china, vice premier lu will be holding principal level calls today we are up 60 points about all it is worth, i would say. Right now, hong kong confirming overnight that they have plunged into the first recession in a decade. That marks the second straight quarterly decline. The Financial Hub has been suffering from violent protests, the u. S. china trade war the week of rage continues to boil over. Well get over to matt bradley for more on that andrew, yes you are right. This has been six months of protests this started with the extra diction bill that started over the summer that has been drawn. You can see un
Sometimes the glass shrinking a half full vessel look like it is overflowing and this is where we areright now and this, after todays session dow closed flat, s p up 6 and nasdaq up. And lets start with the thing that we all know which is the half full half empty this morning disney launched the new streaming service diocese plus and immediately overwhelmed with traffic and started having outages even though management assured us the technology was solid on the Conference Call last week. We were told they tested the system in the netherlands which must be a new worldwide peoria but it reminds me of hamsterdam. They botched the roll out of a promising new service but the Glass Half Full people think differently. Sure the site crashed but that is because there was so much demand and traffic diocese vetted this platform for millions of people and that wasnt enough. It is not hard to believe it has so much great content that it caused a stampede of subscribers. In reality both are right. B
Important. Stoxx 600 risk rally beginning to fade. Definitely off of session highs, approaching session lows. Stocks still appear to be relied risk on appear to be largely risk on. Bond markets also not sending that signal. Btps moving lower another two basis points. Different signals coming from different asset classes. The spread is not particularly big, but i think it is worth paying attention to. Vonnie that person i was speaking of is from pimco. Home depot falling after it cut its growth forecast for the rest of the year. Similar story to kohls. Reaction now on whether he thinks the American Consumer is actually going to tip things over here in the u. S. And globally. He is pimcos Global Economic advisor. He joins us from california. Should we be worried about the u. S. Consumer . Guest i think we should be. The consumer is always the last shoe to drop. It has been holding up pretty well. The rest of the economy has slowed sharply. Manufacturing is in recession. Companies have cu
Australias biggest business bank. Theteargas returns to streets of hong kong as police and protesters clash again. First, lets get you started with a quick check of the markets close on friday. S p 500 index seeing the biggest fall in seven weeks. Of course, there are people just waiting for any sign of progress on the u. S. China trade negotiations. At the same time, it was a shorter trading day just after thanksgiving before the weekend, so it was 16 below the 30 day average. Energy and Consumer Discretionary leading the declines. Nasa fell and nasdaq fell half a percent as well. We have the opec plus meeting this week. There are signs they may not want to cut even further at the moment. Lets see how things are shaping up in asia. After managing to cap a third month of game, asia stocks tech starting december trading, nikkei futures up more than 1 in chicago. Ross mcewan starts monday as the bank faces a list of challenges. At the weekend, the australian newspaper reported they faile
Center stage and treasuries weaken with the curve flattening after last weeks definitive move higher. Joining us for the hour, dan nathan a real Holding Pattern here today. Are we waiting for news out of washington heres the good news, right we had this big rip up off of the lows last week on optimism that there would be some sort of grand deal as far as trade is concerned. The fact that it doesnt look like that were going to get that at the end of the day, the fact that were not down in a meaningful manner is fairly establish. Could things change pretty quickly if the fed decides top pull our negotiators away and we know were dead in the water for a couple of months no doubt about it. Its kind of interesting on a day like today, where we dont see staples and utilities. These are two of the bestperforming groups, deemed to be defensei you dont see them rallying and dont see the s p 500 down a lot either it seems like a lot of nothing despite some really potential for volatility later i