Biggest ever. Data was accessed on 76 million households and a 7 million small businesses. Hong kong prodemocracy demonstrators under attack at two protest sites. Hundreds of men tussled with protesters and removed barricades. That is a live shot of what is going on. Leaders say they will cancel planned talks with the they. T unless this has not been seen in hong kong. President obama puts the spotlight on jobs. He is set to meet with steelworkers following his speech in chicago, where he called attention to the economic recovery in the u. S. , especially in manufacturing. Manufacturing has added more than 700,000 new jobs. It is growing twice as fast as the rest of the economy. They are looking at bringing jobs back from china. What will the report tell us about the economy . Fromng us is our reporter bloomberg news. Peter coy. Ring in he is the Bloomberg Economics at it economics editor. You say a fall in the jobless rate could be bad news. It could be. A it happens because there is
Territory for the First Time Since 2008. The futures this morning after those two trading days do look like they are indicated higher. Dow futures up by 19 points above fair value. The s p futures are up by just over 1 point. On the economic agenda, december nonmanufacturing ism and november factory orders, both due at 10 00 a. M. Eastern time. Later this morning its about jobs. The adm jobs report on wednesday and the governments payrolls will follow on friday. Thats going to be the big one were watching. We have more on the markets and the economy throughout the morning, but first andrew has a roundup of the top corporate headlines. Good morning. Good morning, becky. We have a lot of news for you. Jpmorgan nearly a 2 billion settlement with federal authorities to resolve suspicions of the bank ignoring signs of Bernie Madoffs ponzi scheme. The New York Times says the banks civil and criminal settlements would involve deferred prosecution agreements and of course the 2 billion settlem
Citizens of new zealand. In auckland, this is where theyre celebrating new years. The light just went down. All you hobbits out there, we wish you a very happy new year. Its coming our way a little later. There go the fireworks. Yeah, it is officially new years eve. 18 hours ahead of us. Happy 2013 to those folks just a few hours away from us. Good morning, everybody. Im becky quick along with Andrew Ross Sorkin. Joe kernen is joining us from washington, d. C. This morning along with john harwood. Joe, i know you have a huge lineup there. And i know you were up a little late last night, too, right . Yes, becky, very late. You and andrew, i hope you guys are ready for the heavy lifting. Can i ask you a question . Are they over the cliff in new zealand, do you know . Yeah, i guess thats it. The sequester would have gone into effect. No, thats probably only affecting us here, but that shows you how close it is. We are i guess something could happen at 11 00. Well see, beck. Andrew, good t
As for todays market agenda, there are a number of key economic releases to be watching. At 8 30 this morning, we get weekly jobless claims plus the Producer Price index. Later this morning, theres manufacturing pmi, the philly fed survey and leading economic indicators. In earnings central today, retail is once again the key them this morning. Companies reportsing before the bell include target, dollar tree, Abercrombie Fitch and game stop. Well be watching closely after what we heard about walmart. Andrew, over to you. Thank you, becky. We have Corporate News this morning. The government rejecting fair homes recapitalization proposal of fannie mae and freddie mac. Heres what happened. Obama adviser Gene Sperling arguing the only way to revamp the home loan market is through what he calls proper Housing Finance reform. He didnt directly refer to fair homes proposal, but he did say that the administration cant allow fannie and freddie to be recapitalized in the current corporate form.
Behind a drop in revenue last quarter. And the Prime Minister has replaced his long standing finance minister with a political unknown, but does it change the Investment Climate . Well hear from the former Prime Minister. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. Hello. Welcome to the show. We kick off with the latest data out of europe. The market eurozone pmi is coming in weaker than expected. The flash number, 51. 5. It was 51. 9 in october and investors expected it to tick up slightly to 52. Divergence between germany and france. The german composite numbered ticked up to 54. 3. The french number, im afraid, ticks down. French services at a fourmonth low, manufacturing at a sixmonth low and the composite, 48. 5, 50. 5 in october. We saw in the Second Quarter. Negative growth for france and now we are getting contracting activity, as well. Chris williamson is global chief economist at market that helps compile these numbers and jo