Set your agenda. Asian equities retreat for a fourth day on more concerns over chinas economy. And after strong us retail sales, add doubt that the feds inflation fight is finished. Uk headline inflation set to take a step lower today, but the pressure is on for the bank of england after the hottest wage growth on record. Plus, the Worlds Largest owner of stocks rebounds thanks to investments in big tech. Well break down the numbers from norways 1. 4 trillion Sovereign Wealth Fund. Well, good morning. Welcome to wednesday and its risk off this morning as concerns about inflation and growth weigh on markets, us futures are flat this morning after the s p 500, the nasdaq and the Dow Jones Industrial average all ended just off session lows yesterday. Equities finally showing a bit of worry this off year after year had us retail sales coming in above forecasts, along with home depot earnings for that matter, underscoring consumer resilience and bolstering, therefore, the case for the fed t
Abramowicz some Jonathan Ferro your equity market on the s p 500 slightly negative this morning fantastic lineup looking ahead retail sales just around the corner. Earnings from home depot dropping across the bloomberg tomorrow. Numbers from target results from walmart on thursday. But once again this morning, we have to begin in china. Rate cuts bramo and the data not great at all. The biggest rate cuts going back to 2020. The data coming weaker across the board. Whether it has to do with retail sales, whether it has to do with industrial production. They scrapped their youth unemployment metric, which is not exactly encouraging. And now the question is, are they preparing a big enough stimulus to really stave off weakness that is much deeper than people expected . This is the right signal. The big question, youve alluded to it, whats next . Heres the commentary this morning from standard chartered. The cut has been aggressive from sogdian. This is unlikely to be the last measure. So,
Trade wars and all of this is driving inflation and its negative for markets. Chinas real estate roller coaster is rolling. Helping to stem losses on the hang seng. And tsmc signs a noncommital note saying theyve not yet decided whether to invest. All right, everybody. We are kicking off the show, taking a deeper dive into what markets are doing today. Thats a lot of red on the board behind me. Were going to get into the drivers for the european session, but first let me take you back to the u. S. Session yesterday. Of course, it was the first day back after the holiday and all three sectors ended the seg in the red. Negative sentiment being picked up in the last hours. A lot of focus on whats been happening to the price of oil. It has reached 90 for the First Time Since november, this after saudi arabia said they will be continuing with their output production cuts until the end of the year. Its set to continue into the latter half of this year. This has meant the backdrop for oil has
Through with pockets of fear. S. A. P. Shares bounce. The ceo outlines how integral Artificial Intelligence now is to that business. We are embedding a. I. Until the center of the Business Models of our customers to deliver immediate results. Our customers are paying for what they are using. Our model is flexible. Swiss pharma giant novartis boosts its guidance with the net revenue jumping 10 in the First Quarter. Our u. S. Colleagues will speak to the ceo later on today. And renault confirms the fullyear guidance after revenue jumps 6 in the First Quarter at 11. 6 billion euro. Good morning. We start the show today with breaking news when it comes to pmi data from the eurozone. Let me share the latest numbers with you. When it comes to the composite flash figure, it came in at 51. 4. That is above what markets were expecting at 50. 7. It is also an upgrade from the march figure. The overall composite number is coming in higher than what analysts were expecting. When it comes to the br
Sustain a strong labor market and stabilize inflation around our 2 longer run objective. Striking gold. Lonmin shares spike after sibanyestillwater makes an offer to buy the platinum minor miner at a 35 premium gemalto gets an offer that it says fails to support the company and address shareholder interests. Good morning ecb and bank of england, busy day today. First eurozone numbers, the december numbers, the flash estimate crossed at 58 this is higher than forecast, 57. 3 the november buy comparison was just a fraction lower at 5 7. 5 a beat on the numbers. When it comes to manufacturing numbers, the flash level crossed at 60. 6. We used to take about 50 being the crucial tipping point. Now were in expansion territory on the manufacturing numbers the Services Side not as strong as the manufacturing level, 56. 5 but also better than forecast. Better than the previous month some of this from germany you think . It appears as though the Growth Outlook in germany is picking up you can se