Today. Our road map begins with Global Growth concerns. China posting the weakest gdp in 27 years aed my fallout from the trade war. Well wrap up the first week of earnings season, two names in focus, coke and American Express, both rallyi ining aheaf the bell. Rick perry set to leave trumps cabinet. He will join us live this hour going to start with that slowdown, china saying the economy grew 6 in q3 from a year ago, believed to be chinas slowest gain in nearly three decades. Markets here largely shrugging it off Industrial Production was up from the prior five to 58. Retail sales up from 75 back to 78 so kind of mixed. This one we can say, look, there is something for everybody. Fed can still cut. But im doing a lot of work on American Express this morning. Consumer is still strong consumer strong, business, corporate spend, as barry said, still a lot of negativity among ceos, extends to the election, negativity extends to china, european woes. Go back to the ibm call, we didnt talk
Abigail underperformance, major averages at the dow and s p 500 relative to dow transports, look at that. The dow and s p 500 index recovering after the dow presser, dow transports however, not so much, lows down 2 at that point on pace for worst daily performance since august, has to do with weakness with c8 robinson, writer, logistics companies. When we put it into the context of the year to date chart, they are having a good year. They have0 index, traded in a directionally correlated manner for the most part. Now a bit of a divergence. The last one did not prove to be bearish for the s p 500, but it very much looks like we could see dow transports go back down into that range. It will be interesting to see if there is any connection with the s p 500 should that happen. The fed ratead of decision gold rallied, but then trimmed but then earlier gains when powell said they may put Monetary Policy on hold and assess the impacts of the economy on the reduction over the past three meetin
Time to pause before any more likely action. Allthere are big names topping earnings estimates. Shery will have an exclusive interview with facebook coo Sheryl Sandberg in about 20 minutes. Lets get you started with a quick check of the markets. U. S. Futures unchanged at the moment, slightly higher after finishing the regular session. Following a 1. 2 session low center chile announced they would be canceling the apec summit for the u. S. And china intending to sign that partial trade deal. During the presser Jerome Powell said the fed was nowhere near contemplating rate hikes again in the near future, so we had the nasdaq gaining. 3 in the dow also outperforming. Her positive news coming from johnson johnson, and that boosting the dow. It was critical come that interpretation of jay powell saying there would not be fed rate hikes in the future as long as inflation remains sufficiently low. Were set for moderate gains after the u. S. Hit fresh record highs following on the back of fed
Demonstration is planned today. Protesters will show support for a bill in the u. S. Congress that could potentially sanction some chinese officials. South korean president moon jaein is apologizing after his close confidant resigned after taking the job. He says he thought regret for causing friction for his appointment of the justice minister. Quitting tot he was improve the environment former forms of the National Prosecution system. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Is 1 00 in new york, 6 00 in hong kong, 1 00 in london. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories from around the world we are following. 17 days until brexit. Johnsons chances of sealing a deal with the European Union are hanging in the balance once again. The bottom line for big banks. Earning sick off this we
Imagine that. The president meanwhile will be heading to dallas for another rally this week, doubling down on his pledge to bring jobs back to america, as a new Louis Vuitton factory gets ready to open. Texas is open for business and so are we. We are watching it all. Varney company starts right now. Theres execution work to be done on the document, but this document is substantially done. We made a lot of progress, and our expectation is this will be concluded and signed by chile. Charles that was secretary Steve Mnuchin moments ago talking about phase one trade deal thats getting ready just in time for apec, the meeting that will be held next month in chile. China reportedly wants more talks before the deal is signed. I dont know. I think its normal. People are interpreting that as a red flag. Susan we heard about this on friday, by the way. They said it will take maybe four to five days to get this signed and worked up into ink at this point. Take a look at the rhetoric in the mainl