The month but after all october a treat. S p gaining more than 200 hitting alltime highs along the way. Here is the question this all halos eve have we reached the Witching Hour for the markets record run, tim well, look if you think the fed is on hold until mid2020 it could be a spooky time for markets because the markets expected accommodation they are your friends and therefore the witchs brew is probably in the form of the data if you look at the chicago numbers this morning, especially the new orders component took you back to march of 2009. It tells you the impact of what the trade war has we dont know really where we are. But look in the absence much a political shock ill leave it at that and in the abens of china walking away from the table, the fed is still your friend and injury youve had a Third Quarter where you had surprise to the upside. I would say its not all that spooky this halloween. I think todays pullback is appropriate relative to some of the macroa day after the
Testifiesller finally but his longawaited appearance falls somewhat short of democrat hopes. Shery we have breaking south korea gdp numbers for the Second Quarter. The preliminary numbers year on year are seeing growth of 2. 1 , which is better than the expected 1. 9 growth. It is also an acceleration from 1. 7 in the First Quarter. Quarter on quarter, those numbers also avoiding a technical recession after contracting 0. 4 in the First Quarter. We are now seeing quarter on quarter growth of 1. 1 , which is better than expected. It seems that we have seen more Government Spending and south korea. The contraction that we saw in deceleration in the First Quarter came from local governments not spending as much. Now we have Government Spending kicking and again. Also consumption being relatively resilient despite the fact we have been getting contracting freddie lacks exports contracting the last seven months. This has been a difficult environment for south korea. Investments have been fa
Street, which he must avoid a damaging no deal divorce at all costs. Shery later in Bloomberg Technology global link, we will talk about the Justice Department investigation into whether big tech has been stifling competition. First, thats get you started with a quick check of how the markets closed tuesday session in the u. S. The s p 500 closed at the highest level in more than a week, up 7 10 of 1 . Rising for a second consecutive session. We have some strong earnings coming from the likes of cocacola, united technologies. Not to mention lockheed martin. We also had Investor Confidence that a deal would be struck when it comes to suspending the u. S. Debt ceiling. In the afternoon session, we got news that ambassador lighthizer could be going to china next week for the first highlevel trade negotiations since may so that really spurred Investor Confidence. The dow gaining 7 10 of 1 . Almost every sector in the green in the s p 500 and hit higher by industrials and materials. The nas
Thank you for watching bloomberg surveillance. The stocks europe 600 down a touch. A lot of the focus is on the jay powell. You can see the u. S. 10 year yield at 2. 10. And we are looking at the pound. Boris johnson is the person who will probably become the Prime Minister and keep saying no deal brexit should still be on the table. We seeing Market Movement with the pound extending. You can see cable at 1. 2458. Coming up, we talk commodities with blackrock at 10 30 a. M. London time. But first, lets get straight to bloomberg first word news. China are. And holding the first highlevel talks since a truce was called in the trade war. Top trade officials are speaking on the phone. Larry kudlow says the initial talks were positive. There was headway last winter and spring, then it stopped. Hopefully, we can pick up where we left off. Ambassador lighthizer and secretary mnuchin are exploring all that. Discussions today went constructively. But its too soon for details. Factories and bare
Questions on privacy concerns and Data Collection while testifying for the House Judiciary Committee. Before being confirmed her current role in 2021 chairwoman serve as counsel to the house judiciary subcommittee on antitrust commercial and administrative law. This is about four hours. This meeting will come to order. Without objection shares authorized to declare a racist at any time. We welcome chairman to the hearing on the federal trade commission for the chair now recognizes the gentleman from wisconsin mr. Fitzgerald to lead us in the pledge of allegiance. The flag of the United States of america into the republic for which it stands one nation under god indivisible with liberty and justice for all. Thank you gentleman. We do note todays hearing as wenormally do with Opening Statements in the bible got right to our witnesses appreciate being with this today. Speech in berlin in 2022 chair consult an audience of challenges facing antitrust today work quote the result of a choice