A bounce in the eyes and Services Data out today in order to save the market but today the i sense that his readings on the u. S. Services sector fell last month to its lowest level since august of 2016 coming in at 52. 00 expectations of 55. 00 Service Oriented companies employ the vast majority of americans and registered the weakest growth in september in 3 years business production new orders grew more slowly and employment levels were essentially flat so between the 2 numbers now the pair of surveys clearly point to a sharp loss in momentum the Services Side is much larger than manufacturing accounting for about 80 percent of the u. S. Economy manufacturing only makes up roughly 20 percent so many analysts came out and they didnt place too much emphasis on the manufacturing numbers earlier this week and they were overly dismissive of the weak reads they said that the market shouldnt panic yet manufacturing doesnt amount to much and Services Matters more and thats actually still ex
This is r. T. From moscow its friday evening at 7 here in the russian capital welcome to world news this hour 1st for you north korea negotiators have arrived in sweden to resume Nuclear Talks with the United States but it comes just a few days after pyongyang said it had successfully tested a new c launched a missile and a move thats caused alarm in western capitals. The secretary had a call was japanese minister of defense co know where they discussed north korea they both agree that the north korea tests are unnecessarily provocative do not set the stage for diplomacy in that north korea should cease these tests north korea says its missile is capable of being launched from a submarine which would represent a major advancement of its weapons capabilities some analysts are calling it the most significant test since the country entered into dialogue with washington in 2018 just a few hours later the u. S. Carried out its own launch it fired an Intercontinental Ballistic Missile over t
But after a session with the dow dropping 160 points sell, sell, sell. The super bowl backslid 0. 49 . And the nasdaq lost 0. 80 . Really that was a day. You need to understand the economy doesnt work like that it is not like were teethinger between good and bad well have one set of good numbers from the Domestic Companies doing just fine. As long as the trade war continues well have another et self bad numbers from companies that are hostage to the Global Economy and doing terribly the chinese trade delegation went home early, instead of hanging out with farmers in montana, suddenly the market rolled over. A lot of investors believe until the big sky country darkened we might be close to a deal but there is knock on the horizon. If china would do something as low stakes as this farm visit, hence todays selloff as i told you it will be harder to reach an accommodation with the peoples republic than many people seem to think that is a good place to start our game plan. I think there cou
Wall street is set to join that Global Equity selloff at the open plus, th juan falling to a more than ten year low versus the dollar China Central bank denying it is devaluing its currency shares of apple, theyre down, like everything else, or more, ahead of the opening bell. Which trumps tariff threats could mean for that technology giant. And potentially for the costs of the iphone we start, though, with the Broader Market stocks under pressure around the globe as u. S. China trade tensions escalate. Chinas yuan, which has now breached the 7 level for First Time Since 2008 is certainly a focus this morning in response to that move, the president tweeted this morning, quote, china trdropped the pric of their currency, called currency manipulation, are you listening Federal Reserve, this is a major violation which will greatly weaken china over time so, jim, were back in the concerns about china, of course, this following the decision last week by the president to put 10 tariffs on th
The nasdaq got spanked and slit 1. 6 but the average value 29 points in an it is passion of the upcoming rate cut, the first in ten years allow me to set the stage, on wednesday fed chief jay powell will give us the read on the economy and announce a quarter point rate cut to breathe now life into a business situation for many different industries. I know there will be sticklers that say with unemployment with the lowest level since the 1960s, it is ridiculous for the fed to think about cutting rates. Others like President Trump think a 25 basis cut isnt enough the president endlessly tweeted the Federal Reserve is way too tight monitory policy has been holding back the economy did it again today when your Interest Rates are too high, the currency gets stronger versus the rest of the world our rates are much higher so the dollar is very strong and makes the internationally Oriented Companies far less competitive and can hurt the Auto Industry and housing industry both of which are weak