Smashing it. Mike mckee is here to break it down. Brian it may be michael it may be too late to influence the president ial election, but certainly influencing the way the markets are going to trade because this is a big number. In october. We thought it would be 56, but this blows that away. New orders, 67 point nine from 60. 2. Production, 63 from 61. For the First Time Since july 2019, we are seeing employment well for with augurs this fridays numbers. Maybe we get some positive manufacturing. Prices paid still rising. Hard to know exactly what that means in terms of long red inflation since we do have the confusions of the covid case. Is it a shortage of materials, a pipeline problem, or are we actually see in prices going up . Likets for the year, looks the new export orders goes up to 55. 7 from 54. 3. That will take a hit from the lockdowns in europe. Overall, this is a very good number for the economy going forward. Alix how much is it like we have seen in europe, where manufac
Of tech trade war, while the streaming giant netflix misses estimates. Welcome to surveillance. I am yousef gamal eldin in dubai. Assetse risk eye firmly bid, the state of play of the s p 500 currently called substantially higher after of course the earnings picture continues to fill overnight, including from netflix, which came through with a miss. Latest lawsuit and the uncertainty in stride. U. S. 10year finally Getting Movement in the last 10 hours. We are at 81 bits, and the selloff really taking a little bit of momentum over the last few hours. Behold yield curve beyond five years is trading at four month highs. It is not a volatile rising bond yields. It is doing nothing to help the dollar, though. On the currency note, you have traders testing the chinese governments tolerance for a strong yuan. A major move in the u. S. Fx space keeps rallying, no matter what officials you doing. Gold getting a list as well, up. 7 . Keep an eye on that trade is what Billionaire Hedge Fund mana
Incht take a look at the names leading the space ere. Its not a home builder but very related nonetheless heres the five year chart and you can see the diversity. And basically were talking about no progress for the better part of five years now heres the chart how can we draw the line as well just call this a Double Bottom you can also call this a fairly big head and shoulders bottom. This is clearly a down trend and this is an up trend. A sequence of higher lows and higher highs so the betting here is that this is actually going to break out and lets zero in on the chart here and now a lot of tension that you can see if you wanted to put in that part and what we can see is a slight gap above tensions there levels are remarkably precise as is so often the case with a good set up and here today we have plenty to run here. All right so thats an interesting case of course. This is not a real growth story. Were looking at revenues where they were about five years ago marginally higher. Ea