Two tech ipos making headlines. Plus Morgan Stanley, as carl just mentioned, upgrades tesla. Analyst adam jonas predicts a 60 rally, largely fueled by a. I. Were also getting shares of qualcomm up ahead of the open. Chip company saying it will supply apple smartphones through 2026. Lets begin with jim in san francisco. As we said, dreaming up for gearing up for dreamforce. Jim, going to be a busy week. Whats really crazy is that theres adam jonas just stealing the whole show. Theres conferences in washington, theres conferences in san francisco, and he makes it so its about tesla. All i can tell you is that out here, its just dreamforce is the aai force. David, you know this from when you were with musk. If you dont talk about a. I. , you sound like youre clueless. If you do talk about it, you better start having something to back it up. Adobes got it. Oracle tonight. But theres a lot of just a. I. Chatter that i think is just chatter, david. Right. And that is a key question for inves
This is daybreak asia. I am betty liu in new york, where it is just after 7 00 p. M. Charlie it is just after 7 00 a. M. In hong kong. It feels like summer. Quiet in the markets. We have the trade figures of china and the trade balance in japan. Betty those are the big numbers to watch. Big market moving event. In terms of here in the u. S. , it mergers of a focus on that may or may not happen and specifically a look at Berkshire Hathaway and what they may be eyeing out on the horizon. Oil Prices Energy prices in particular in focus. Despite the drag, the market still managed to get out the gain. We will go through that in a moment, but that is setting up for a slightly bullish tilt for you in asia. Yvonne let us look at how things are playing out here. Cpi figures out of the u. S. New zealand, we are seeing the stock with weakness. 7356. Wi, the traders are worried about the dollar edging up. The worst currency in the g10 space, ahead of the decision this week as well. We are seeing a
Retail in that country and laying out his plans for indias market. Also gave this extensive interview to india nd tv where he said he could see lowering prices in that country. I recognize that prices are high. What we want to do things that lower that over time to the degree that we can and so we are looking at a number of different things. What we wouldnt do is lower our quality bar. Of course, one of the bigger stories today might be the projections, reported projections for iphone 7 production as has a lot of the suppliers up today along with apple. Yes, indeed. Barrons did a writeup of it about 70 million phones where some had expected mid 60s productionwise. That maybe goes to show apples confidence in maybe what its got in the iphone 7 versus actual demand. What i think is interesting, theres a tension between local manufacturing and local invention versus american patronage. Facebooks Mark Zuckerberg saying people, have free internet, its good for you. A lot of people cant affo
The plan european markets kick off poor on the back foot with stock falling and the dow at the lowest level since november of 2020 Credit Suisse is reported calling for reassurance fail to win over investors as shares plunge amid rising concerns over the Capital Position and restructuring program. Crude Prices Higher amid opec and allies will consider cutting output to put a floor under prices good morning welcome to street signs. We have a packed show for you today. Before we can talk about what is happening in the uk, i want to bring you the manufacturing pmi numbers we got moments ago of the numbers. This is the flashes estimate of 48. 5 versus 49. 6 for suggest the trend is on a downward spiral below the 50 line and we are in contraction territory. The cost of living crisis weighs on spending. I think we have been talking about that a lot the numbers confirmed at the lower level than back in august. You can see the reaction in euro is not very much today the theme has been one on D
They have an overcapacity of electricity this europe, and as a result, they have a very low wholesale prices, which is good. But their residential rates and their manufacturing rates are the highest in the world because of renewable surcharges. And so whats happening over there is theyre trying to make this transition too quickly, in my view, and thats what people are trying to do in america as well. But whats happening over there is that the utilities, the base load utilities have lost like 800 million in market valuation over the last 15 months or so. And so as you go to renewables and you try to, you have to place more emphasis on distribution at the local levels, theres not enough capital this in the Utility Industry in the Utility Industry there to meet those needs. And so they have a real conflict in europe right now. And interestingly enough, theyve mothballed 30 gigawatts of plants producing electricity from natural gas in europe because of the high cost of natural gas with com