Slowing. Is said to be china is trying to funnel more credit to private companies. We will assess the implications in beijing. A quick check of our markets close in the u. S. It was a bit of a mixed picture. We saw the dow gained 50 points. The s p 500 erased this mornings gains. Fed officials with a little bit of caution about future rate cuts. To mention we have some soft manufacturing pmi numbers. That did not help sentiment. Cared materials and Health Leading the declines after fluctuated between gains and losses. That fell 0. 4 . U. S. Futures at the moment not doing much. The focus right now is on jackson hole. Lets see how we are shaping up. Steady as we go. Asian futures not doing much when it comes to the potential for how cash trade may start. We are waiting for cues from jackson hole as well as the g7 meeting this weekend. We also have today a busy day of earnings from china as well as from hong kong. We are going to get a cbi data from singapore. Thise checking on the end m
Iaii will decline next year. We anticipate the same rates next year as last year. European equity markets pull back and yields fall as german Business Activity contracts for the fourth month in a row suggesting the largest economy is well into the midst of recession. Bond bears retreat. Bill ackman pulled the position on the short position and bill gross is calling concern over the health of the u. S. Economy. And ha anmas releases two m hostages as Emmanuel Macron arrives in tel aviv as diplomatic efforts continue to step up. Happy tuesday. Warm welcome it street signs. We will kick off the show with the latest pmi. The october flash figures. The flash pmi has come in at 46. 5 . That is down from 47. 2 in september. The pmi hitting the lowest level in nearly three years during recession worries. Here is the breakdown. The manufacturing pmi is 43 which is down from 43. 4 in september. The Services Flash figure is 47. 8 which is down from 48. 7 in september. A bit of comments from the d
We know it is absolutely face. Al given what we simply put, the trump budget takes a sledgehammer to the middleclass and working americans and lavishes tax breaks on the wealthy and imagines all of the ask a new deadline increase for hoax of the breakthrough greeks has to receive the next batch of bailout loans this summer. A broad settlement could be reached when finance ministers south africas ruling National Moving jacob zuma this week and according to people familiar with the matter, his march filing of the finance minister and the nations ensuing credit downgrades as increased opposition to the president. This due to step down december and as president in 2019. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. Live from bloombergs World Headquarters in new york, i am julia. Scarlet i am scarlet fu. Joe im joe weisenthal. Stocks to alltime highs. The question is, what did you miss . Calle
Vulnerable in our society. The intention was to sow fear, the insen shtention was to divit it will not succeed. The stock Market Reaction to the incident is muted in early european trade, but uk travel and Retail Stocks underperform. Good morning. Before we bring you more on the situation unfolding in manchester, just Economic Data in the form of may Ifo Business Climate in germany rising in may. The Climate Index stands at 114. 6 in the month of may versus a reuters Consensus Forecast for 113. 1. So once again a bit better than expected. When it comes to the Current Conditions index, thats at 123. 2 in may versus a forecast of 121. We saw this in the month of may. Current conditions index once again, this is one of the highest levels ever. Lost month in april we saw that at the second highest level reading. By in large conditions and confidence among the companies and investors in germany very upbeat. Lets bring you in conjunction, lets bring you what the eurozone pmis were saying. We
Warning. We speak first to the ceo later on the show. And a surge in Chinese Tourists to europe offsets weaker demand sending shares in kering to the top of the european market. We also have lots of earnings coming from state side. Head in the clouds. Microsoft shares spike in after hours on a solid revenue beat and optimistic outlook for its cloud products. Out of the jungle for amazon. Shares are soaring on a surprise profit as the ecommerce giant gets a boost and the alphabet, investors are learning the alphabet. Sending shares in its parent to all time highs. All right. Lets get straight to some data points. The euro zone composite pmi flash number and we were expecting a print of 53. 7. We got a number higher than that. 54. So nicely beating expectations. The Services Flash that is 54. 2. The forecast was also lower than that so easily beating on the Services Side and thats also something that weve seen in the german and the french numbers this morning. We got that surprise for th