Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
I dont consider myself a journalist. Nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . Friends invested uber years ago. It was a 3 billiondollar market value and i said, he will lose the money. No writing company can be worth that. Uber turned out to be a larger sum of money. I had the same reaction when i heard about a Company Called did i it was a small uber like company in china and i did not begin to catch on. I was wrong. It is the largest single ridehailing company in the world. The person running that company is a young woman named jean lou. Liu. She is one of the bestknown Women Business leaders in china and extremely intelligent who is clearly going to make this company even more successful as she continues to lead. We are here with jean liu who is the president of didi chuxing which is the biggest
Least a gradual return based on local conditions starting in may. Now, in michigan, protests are expected today and that states strict stayathome orders are in question. Thats going to be an indicator of public sentiment after weeks of lockdowns. On the international front, china is now very much in the spotlight. Frankly, its a target. The president s cutting funding for the World Health Organization. Mr. Trump says the virus could have been contained in china if the w. H. O. Had been more honest. And senator cotton and congressman gallagher introduce a bill today that would end americas dependence on chinese drugs and pharmaceutical ingredients. The virus is clearly changing the u. S. china relationship and everything else, of course. On the market, it is all about back to work, when, where and how. On hopes of a return to work, the dow has moved up close to the 24,000 level. It had dropped to 18,000 level last month. The dow was up 500 yesterday. Looks like all of that gain will be
Moving news from all around the world. Delhi, newg to new jersey and washington come our bloomberg voices are on the ground todays top stories. In asia, you had the pboc lowering the rate it charges on shorterterm loans to lenders. Index added 150 billion yuan into the banking system. Joining us is tom mackenzie. Is this the start of an easing cycle, or a shortterm term liquidity crunch into the new year . Tom it seems like more of a shortterm liquidity crunch. We are looking ahead to january, what it looks like you will get a withdrawal of cash out of the Financial System here of about 450 billion. They take that liquidity out ahead of the chinese new year, which comes in towards the end of january. It does seem like it is more of a seasonal effect. More broadly in the economy, credit has been tightening. We saw today from the pboc was some gradual measures to try and address this queasy liquidity, and a couple of basis points and a sevenday reverse repo as well. About 28ly, you got b
Buying from the site apple amongst some of the top items. Youre also seeing a little bit of strength from some smaller cities, beyond beijing and shanghai, showing a little strength as well a slight indication along with some positive earning reports over the couple of quarters toward strength of the Chinese Consumer thats looking robust, despite concerns about economic slowdown i will point out the figure they posted is a significantly Slower Growth rate than last years singles day, year on year. That perhaps speaks to the fact this is a singles day thats maturing alibaba facing increased competition in china overall, strong singles day showing from alibaba they would be happy with what theyve seen today for now, back to you working late for us thanks for bringing us the latest well stick with baba. Good morning to you. Zack, i will start with you. Record numbers for singles day alibaba shares are down 2 why . Hey, morgan, thanks for having me on i dont know if theyre down because of