Slightly higher. At the low, down more than 100 points. All on pace for the worst day of the year. That is only true for the tech heavy nasdaq. Really weighing on the nasdaq, the Philadelphia Semiconductor index down 2. 4 . Still on pace for his worst day since december 4 of last year. Lets dig into one stock weighing them all down. Apple down 1. 6 . Its worst day of the year. This appears to have to do it to death and analysts. Jpmorgan is cutting the estimate, Sales Estimates for 2018. That is based on deteriorating iphone demand. We also have bernstein saying the iphone estimates for the march quarter, the street is looking at it right now, and it may be too high. It is interesting to see when the Company Reports what does come up. Broadcom trading lower in 70. Lets look at some of the homebuilders. We have some weakness here. D. R. Horton, all lower after existing home sales for the month of december missed the survey a little bit. Daca have to do it tax reform. Investors not likin
President trump says the resignation of highprofile democratic lobbyist tony podesta is bigger news than the manafort indictment. Podesta is stepping down from his powerhouse firm after coming under investigation. Another highprofile elected republican official plans to bow out after his current term. Texas house representative jeb says he will not take the election next year. Because called serving the u. S. Congress the greatest privilege of his life. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Emily im emily chang, and this is bloomberg technology. Coming up, capitol hill mea culpa. Facebook and twitter and google testimonies in washington. Lawyers from each tech giant answer questions on what one senator calls the National Security question of the 21st century. Plus, apple and qualcomms legal battle takes another nasty turn. We consider the beef from both sides and the implications for future iphones a
Polluting companies. The separatist leader has been summoned to court on suspicion of sedition, which could see him jailed for 30 years. Hes currently in brussels saying he wants to plead catalonias case to e. U. Leaders. He said he would only return to spain madrid guarantees him a fair trial. Global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. ,ake a look now at the markets trading just getting underway in hong kong and china. The markets generally starting the month on a positive note, and a look at tokyo, sydney, and singapore. This is bloomberg. Im emily chang in this is bloomberg technology. A deep dive on facebook, google, and twitter, testimony in washington. Each tech giant answer questions on what general called the National Security question of the 21st century. Plus apple and qualcomms legal battle takes another nasty turn. We consider the beef from both sides and the implications for future iphones
Gop tax plan. We are only a day in and at least four republicans said they want to vote against the bill as it stands right now. Many prominent trade associations have already said they dont like what they are looking at. President trump headed to asia to meet with state leaders from china, south korea, japan and others. Lets get the latest on bloombergs Kevin Cirilli, our chief washington correspondent. Also joining us is marty shanker, chief content officer. Lets start with marty. The conversation is moving forward towards what happened in congress. People are vetoing this. What is it going to look like at the end . Marty in advance of the release of the bill we set it would be really hard to craft the bill. Now comes the harder part, selling it to legislators who interestsarticular and the provisions of the bill that affect their constituency. With midterms coming up, they have to be able to defend a yes vote, especially the republicans because they will try to do this without any d
10year, we have Michigan Confidence on the way in an hour futures pointing to a lower open, the fate of tax reform and progress spooking some invest investors. Taking on netflix, disneys yet to launch screaming service. And forget black friday, the Worlds Largest 24hour Online Shopping spree getting under way in china today with more than 20 billion worth of sales forecasted futures are in the red looking to extend yesterdays sell off as uncertainty over tax reform appears to be taking hold on wall street the dows drop was first in eight sessions and both on track to post their first weekly losses in about nine weeks some of the coverage over the senate bill, mike says looms a showdown looms between the senate and house. I think the challenges are more in focus than maybe the potential opportunities. I do think yesterday interday, you definitely got that little ripple lower when it seemed like there was going to be delay in the Corporate Tax rate cut but in general, i think the market