Lets get your global exchange, where we bring you todays market moving news from all around the world. From hong kong to munich to paris washington to sarasota, florida and new york, our bloomberg voices are on the ground with todays top stories. There are questions about transparency for china. Rishaad salamat joins us from hong kong. Walk us through some of the latest. Now with63,000 cases the death toll up by 121, but the inconsistency in the numbers has led to a lot of questions. Some of them are not being answered, and that has led to people thinking that this disease is not really going away at the moment. We had some optimism a couple of days ago, but that has receded somewhat. Weve also got bickering between washington and beijing. The u. S. Saying they have been denied that. On a microeconomic level, weve got companies such as Fiat Chrysler halting production in one of its plants in serbia. They cant get enough parts out of china. If you want to buy a barbie doll in the future
Morgan stanley topping estimates. Netflix and tesla after the bell. Plus, chinas outlook, q3 Economic Growth coming in better than expected. Jpmorgan, citi, and nomura all boosting their forecasts on the data. The nvidia headwinds. Morgan stanley and citigroup lowering price targets on the stock after new u. S. Restrictions on chip sales to china. Shares down nearly 2 ahead of the open. Lets get to the markets and this busy morning on the earnings front. Were graduating, sara, from the big banks, although we got Morgan Stanley today, into some of the regionals and more of the consumer names as well. Kind of a mixed picture across the board. I think front and center is still this move in bond yields that we have been seeing, especially on the back of yesterdays move higher. The twoyear yield got to 5. 2 . Above 5. 20 , yeah. These are very high levels and it makes you wonder with everything going on in the world and with investors so focused on the geopolitics and figuring out, does ira
Seven words, im Jonathan Ferro. U. S. Retail sales before we get there, an ecb retail story. It deadline for taking on the detroit three. Tom ill start with the cut up clock for inflation, people digging into inflation, could be shows many significant disinflation and that is what Christine Lagarde is to confront. If there is rates, are they doing the wrong time . Jonathan we are split down the middle. Tom citigroup, bnp paribas, there is a long list and i think that list is growing after we heard the last couple of days. Lisa the market has been pressing since the midyear that the ecb is would you raise rates for the current 3. 75 . The question is how are they going to do it . Are they going to into get a hold and then indicate theyre going to raise rates further . Is there any variation from that particular iteration of decisions . Tom American Airlines and what we are seeing there, i think Helane Becker joins us today, but there is disinflation in the air and yet in europe we are t
President delivering a speech on the economy. At 10 00, my favorite thing, universe Michigan Sentiment numbers, the soft data read. Because it is michigan, that is why it is your favorite . [laughter] therade at the top of agenda and late yesterday, the commerce secretary announced a trade deal with china, exports of everything from beads to liquid natural gas. Cirilli. S kevin we thought we were going to war with china and now we have cooperation. Gashis influence is natural , which is a bit of a concession in some regard from the Campaign Rhetoric of President Trump in that he is looking at this particular industry the coal industry may be snubbed but they feel this good help jobs. Beef and poultry is where things get interesting. The Iowa Governor is not been confirmed iv senate as the chinese ambassador, but driving the political policy point home. Secretary ross said this will be a 2. 5 billion net gain for the u. S. Economy as a result of that portion. The third point is where it
At 10 00, we will get weekly crude inventory numbers from the u. S. Which are expected to drop. At 2 00, it will be the fed decision followed by Janet Yellens press conference 30 minutes later. We will bring you live coverage starting at 1 00 p. M. Today. First, we want to give you a preview of that decision. And so, we turn to mike mckee in washington. Mike, there is not much suspense on what they are going to do on the rate. What are we looking for . Mike it sounds like a cliche, but it is about what they do and not what they say. We will look at the soft patch to see why they need they feel the need to raise rates anyway. What are they going to say about unemployment . It is now below where they were projected in march. The cpi numbers could be very important, because they have to explain what is going on with inflation which has dropped off significantly. Is it going to continue to drop . If so, why do they think so . This all has to do with what wall street takes as its forecast.