And retail sales. The industrial output question, the tariffs, trade war tensions are at play. In fixed Asset Investment, there was a view that might stabilize as a result of the bond issuance and pick up infrastructure spending. David i can tell you now that industrial output number is one ugly number. 4. 8 . The estimate was for 6 and i confirm with you guys, that should be the worst phase of growth for industrial output going back to when Michael Jacksons dangerous was top of the charging 1992. Miss we have alliancebernsteins chief economist for china. Bad numbers. 4. 8 . That is very low. It really for flex how the slowdown in reflects how the slowdown in china is happening. Currently china not only has the cycle but the uncertainty from the trade tensions. A double down pressure on the economy and it is happening. It is obvious they might need to do more because the economy seems to be slowing down a little more than what they expect. Do you think 6 growth for the full year, is th
Really something that has been weighing on equities over the course of this week. We saw it heating japan stocks broadly but tech feeling the brunt of it. Today we are actually moving a little high. It is a reflection of the other theme we are tracking today. The u. S. Inflation print a little hotter than expected but not too hot to really shock markets. We saw stocks on wall street climbing to fresh records. So that is positivity coming into the session. But as we said, a lot of unions in japan will be reporting on wage or pay deals this week, and wednesday will be the heaviest day or amongst the heaviest day for announcements before we get that first tally being reached and reported on on friday. Lets shift into korea now and take a look at what is going on in the session so far. Of course a market heavily correlated within the dynamics of wall street. Unsurprisingly you are seeing stocks moving to the upside. Tech names are the ones to be watching because we saw the likes of nvidia,
Number came in soft enough to illustrate that inflations finally running out of steam so when the c pichlt came in around 3 way down from where it was before we all cheered. Many people bought stocks. Everything was fine, right wrong. That rally was a totally revolting development. Sure enough the averages spent the rest of the session selling off dow finishing just up 53 points while nasdaq advanced minor. A far cry from that yoef heated opening. Theres so many reasons why it was a mistake to buy stocks this morning. Because ive been spending this whole week teaching you how to avoid the kind of mistakes that make you give up on the entire stock market were going to unpack this one. Unpack it good mistake number one the vast majority of people who follow the stock market closely were predicting that the Consumer Price index would be up around 3. 3 . It was actually up 3. 2 . Take note. When most prognosticators predict 3. 3 inflation and yet 3. 2 inflation, guess what its not a surpri
Katie welcome to Bloomberg Markets and it is a down day for markets, at least if you are looking at equities because the s p 500 off. 5 which does not seem to bad and the nasdaq is down by over 1 . There is some green to be found and no surprise it is in the cryptocurrency space. Bitcoin continuing to surge higher up about 2 at the moment. We are on watch for the alltime high, maybe today is the day. We have some breaking ism data for michael mckee. Michael this is not good news for those looking for a Growth Scenario in the u. S. The ism Services Index falls more than anticipated but at 52 point six after 53. 4 the consensus was from 53. What is interesting is the sub indexes are almost all better. In this case new orders are up to 56. 1 from 55. Production is up to 57 point two from 55. 8. Employment is one of the few that goes down. That is something to keep in mind for friday and it might have an impact on the Market Forecast for what we get on friday. Prices paid, 58 point six dow
Walmart saying its seeing a slight pullback for certain Food Products because of those weight loss drugs. And disneys dismal run. The stock is back below 80 bucks a share, its lowest level since october 2014. Lets begin with a drop in oil prices. Wti on pace for the worst week since march, jim. We got down to 82. 35 this morning. Yesterday, biggest drop since may. The department of energy numbers were weak. Gasoline numbers were weak, the lowest, what, since 1996. When you speak to the chieftains of the Oil Companies, they just want to stand there and buy the shares because they dont think this is the right market. They think the higher price is the right market. I look at whats happened with oil, and i say, if you have retail weakness, if you have fewer people from student loans, fewer people going places, obviously, theres going to be a backup in gasoline, but i think this price is actually real. I understand that the Oil Companies want to buy back stock, but the oil stocks never wen