Lisa the small and midcap names outperforming over the major indexes. That is not what we have seen as of late. Romaine lets dive deeper with our reporters. Abigail i am thinking about the isn manufacturing report. The lowest level since june of 2009. The fifth month of contraction. The eight down report out of the last nine months. If you look under the hood, you can see some bright spots where talking about boeing and gm harriet its pretty bad. Manufacturing report go from growth to contraction. At that time, if you can recall there was a bear market for the s p 500 in white been 2016 through 2018, the Manufacturing Sector healthy going above 60. Here is the contraction going from 60 to 47. 2 remarkable. Take a look at the divergence between the s p 500 and the isn manufacturing index. Kind ofve that divergence, at some point you think its going to have to catch up in some way whether manufacturing recovers of the record highs, that divergence is something to keep in mind. You would
Itsco prepares to make trading debut in riyadh. Reports say it is considering a secondary listing in asia. I want to get you to some breaking news out of new zealand. We have a fiscal update for you. They are cutting the Budget Surplus forecast. It now sees a budget deficit in 2019 and 2020. And smaller updates after that, specifically 943 million deficit. This is a previously forecast billion dollars. Returning to forecast the following years, but only just. Forecast was for 2. 1 billion. Growth of 2. 1 seeing a sharp wasward revision from what previously forecast as well. 2020 is an Election Year from new zealand, too. Just some headlines there. Thats get straight to the Market Action with Sophie Kamaruddin in hong kong. Sophie lets kick off with tokyo. Topix withand divergence. The end is Holding Steady. A bunch of event risk including the u. K. Election and the upcoming fed decision in hong kong with that tariffs deadline on sunday. A 10 year yield hovering around zero. Lets switch
Bbc. Co. Uk news and the news app. Now on bbc news live to singapore for Asia Business report. Opaque is about to announce further production cuts just as saudi ramcos confirmed to be the worlds biggest share sale ever opec. Japan unveils massive stimulus measures but is further spending a goodidea measures but is further spending a good idea given its massive debt . Hello and welcome to this friday edition of Asia Business report, im sharanjit leyl. Edition of Asia Business report, im shara njit leyl. We edition of Asia Business report, im sharanjit leyl. We begin with oil prices, which are trading at two month highs Energy Markets have been on edge as opec plus russia are due to announce their decision on further production cuts after their two day meeting in vienna. The group has been controlling output in the last few years to keep prices buoyant, and its tough at toledo, saudi arabia, has been pushing for further cuts to keep them high ahead of saudi aramcos stock market debut its
Reporters. Taylor i will take a look at a chart here i am showing which is looking at the s p 500 for the month of december. I know it is only the first day of trading in december. We are off about 0. 8 . This comes after a very good november in which we had our best month since june. If you think about historically where we have been, december 2017, nothing really happened. December of 2018, a big bottoming out. The index lost more than 9 , bottoming out there on Christmas Eve before a big run up which led to the 25 gain or self we have seen gain or so we have seen this year. Is relatively muted. Still early days. We will have to see how the rest of the month unfolds. Called the skew index, the panic index. Last summer, well ahead of the Fourth Quarter volatility, the skew index in white here, highly elevated as the vix index. Stocks took a big nosedive in blue. The vix then caught up. This year, volatility relatively suppressed as the s p 500 going for near alltime highs. Since octob
A worse than expected contraction in the sector as you point 3 this revealed a worse than expected contraction in the sector as the u. S. Manufacturing fell to its lowest level in a decade this is also the 3rd straight contraction for the i assume as exports escalated trade u. S. Manufacturing fell to its lowest level in a decade this is also the 3rd straight contraction for the i assume as exports dived amid escalated trade war the continuing contraction showed the challenging environment u. S. Manufacturers are facing war the continuing contraction showed the challenging environment u. S. Manufacturers are facing as this sector was once considered a big winner under the trumpet ministration winning as this sector was once considered a big winner under the trumpet ministration with its. Main benefactor manufactured. Back to back to us shores. Production felt all. 46. 00 and imports fell to 45. 00 registering the lowest rate of 46. 00 and imports fell to 45. 00 registering the lowest r