Billionaires index. Raise 30 5ting to billion in hong kong and shanghai. Aviation in australia. Alice springs emerges as the ideal place to store passenger planes left idle by the coronavirus. Shery. Shery breaking news out of south korea. We are getting the preliminary thirdquarter gdp numbers and we are seeing the quarter on quarter the economy has grown 1. 9 , which is beating expectations of 1. 3 and this is also coming after its first recession since 2003. We saw a contraction of more than 3 in the previous Second Quarter. Youre on your, still a contraction of 1. 3 but its a much smaller contraction than was expected and it is also a contraction that has eased from the previous quarter. We have seen growth and strength when it comes to south koreas exports and manufacturing industries. Thirdquarter manufacturing actually growing 7. 6 quarter on quarter when you look at the details in the gdp numbers. We have seen the rebound in china. South koreas biggest trading partner helping i
Its up about 0. 3 today the dow as we said up over 1 at session highs. The sara crazy to see the s p 500 just wiping out all the pandemic losses the todays show, clorox is a standout winner. Up more than 50 so far this year people stock up on cleaning supplies but can the company keep up with the huge demand for wipes and disinfectants . Were going to talk to the ceo plus, well talk renovations, Small Businesses and more with the ceo of Angie Home Services of that company reporting earnings after the bell. Along with iac, tilray and many more names lets focus in on the big stories that were watching in this final hour of trade mike santoli tracking todays market action. We have the latest on the increasingly complicated stimulus discussion in washington and kate rogers has the details on a scandal involving former mcdonalds ceo steve east easterbrook. Mike, start us off with the Broader Market and the gap were seeing. This is a good illustration of how a broadening out of the market be
Mary, what does ill tell us it tell us about the economy . Mary i think its good news and what we had to say in all of this is we are not getting back to february any time soon because unless we have the virus basically solved, there are lots of economies that are not going to open and the fact that we are doing better than just threading water here, make gains, thats good news. In the in the half halffull camp i would say theres less momentum. We had better momentum in june and may and we are still down 13 million jobs and as we try to get below 10 unemployment, now at 10. 2, thats where it becomes more difficult to restore those jobs short of a vaccine. Paul jason, it would seem on marys momentum point that the flareup in the summer to have virus in the south and South Western States did seem to slow the growth of of jobs, you did see a lot of restaurant jobs, a lot of Leisure Hospitality jobs come back but theres still millions that that are on the sidelines. Bill yeah, striking in
Damage. China near a takeover of the airline hna, saying it wants to stem the economic fallout from the coronavirus. Cruise passengers return. The first batch of hong kong residents from the diamond princess are due back in the city today, but there is lingering confusion about their arrival. U. S. Attorney general william barr tries to invoke an old law that protected tech companies. Ike google and Facebook Paul nothing has been happening released since you have been gone. Lets check in on futures in asia today. New zealand already trading at the moment. X higher by a quarter of 1 . 1 in by 1 5 of australia. 771 millioned profits. Pretty flat. Qantas seeing an impact from coronavirus. Few catalysts to watch out for. Aussie jobs expected to rise a little and china expected to cut its loan prime rate. We have machine tool orders out of japan as well. Emily i want to look at where u. S. Markets closed today. Lets get to bloombergs taylor riggs in san francisco. Taylor risk on across the
Economy is set to end the year in contraction as months of protests take their toll. There is course for massive evacuations in australia as wildfires continue to burn amid a heatwave. Shery starting with breaking news out of south korea, we are getting industrial reduction numbers for november, contracting. 5 is missing esti. It was expected to stay flat. It is a stabilization after a fall of 1. 7 . The previous number for october was revised higher, contraction of 1. 6 . We are talking about a contraction of 0. 3 year on year, a stabilization from the decline of 2 in the previous months. We have seen some signs of stabilization in the wider region and chinas industrial profits showing a rebound of 5 . More signs we could see stabilization in the region. Up for then exports first 20 days of the month contracting 2 year on year. This coming after doubledigit declines in the past six months. Industal production, month on month by half of 1 , missing estimates but a smaller contraction t