The p. M. I. Well dive deep into this in a bit. Look at the boards. The dollar still holds on to the retreat. That is helping some asian currencies out there. Ere holding on 706. We were near the 100day moving average. Were siegristance now that the dollar seems to be hovering around the twoweek lows despite the fact but were seeing the dollaryen pretty much at 168 but seeing at least six days of gains so far for the japanese currency. Watching oil price. We see it climbs once again. You are seeing w. T. I. Futures. 4 higher for brent crude. Gold snapped out of four dives declines. It is largely unchanged. Hovering around 62 basis points now. We have the First Official gauge for chinas economy in april. Weakened again. Investors are waiting to see what steps the pboc may take to bolster the economy. Our guest from citigroup joins us this morning. What is your assessment of the p. M. I. Data that we got. Nonmanufacturing. Manufacturing below the forecast. Still in expansion territory. A
Immediately. Is that the case can you comment on that . Didnt quite characterize the conversation correctly, but to the larger more important point, we are happy to continue the conversation with the iraq is about what the right structure is weve been there to perform a Training Mission to help the Iraqi Security forces be successful and to continue the campaign against isis. Were going to continue that mission, but as times change and we get to a place where we can deliver what i believe and the president believes is a right structure with fewer resources dedicated to that mission, we will do so we also have today a nato team thats here at the state Department Working to develop a plan which will get burden sharing right in region as well so we can continue the Important Missions to protect and defend and keep the American People safe while reducing our cost, our resources and burden and the risk to our soldiers and sailors in the region. Here today at the podium you said the imminent
We have more on his appearance, plus reaction. And the huawei perspective. We get thoughts from the chinese telecoms Carrier Business Group on 5g, securities concerns and more. But first, our top story. Ibm fell as much as 6. 5 , the most since october 2015. This comes after the fifth consecutive quarter for posting slower sales. Joined by my am guest. Lets start with the top line decrying. Is there not enough growth from red hat to offset the cost in that core business . Yes. Frankly, this is a question of one word, which is expectations. There are a lot of expectations for red hat that paid a lot for the Company Going forward. If you look at ibms core business, they are managing it for profitability as best they can. But the Global Services segment has historically been a profit driver and a cash cow. But you have to remember as people build the hyper cloud they moveture, as more of the cloud, there needs to be in the Core Technology space that change. They will need to drive efficie
One obviously will be iphone revenue, it is 26 billion, basically in line with what the street was looking for it is down 12 , but it is an improvement from q2. Remember, it was down 17 . I had a chance to catch up with ceo tim cook i asked what kind of impact the Trading Program was having there. Remember, one big roll here for the iphone franchise, why it is facing challenges, the replacement cycle is getting longer i asked cook is the tradein program impacting that at all. He said it was, it was a key reason for the sequential improvement. Services will be in focus, 11. 5 billion. Though apple has the onetime litigation settlement. It is up 15 from the comparable figure a year ago. I did ask cook about some of the new services on the way like the new Video Streaming Service and i asked him, melissa, how he will judge the service cook telling me the most important thing is, one, the product, and, two, the number of subscribers, whether we are going to announce it i dont know we only
To report. Also trade representatives set to kick off a new round of china talks in shanghai. Earnings less than an hour away, well preview the key things to watch from that report with the stock up 800 on this 25 ipo price. Steve grasso from stewart frank, and a lot of moving parts, what do you do . It feels as if everyones on hold for the fed thats the most important thing thats happening right now earnings this surprised to the upside everyone usually, even last quarter, even was ready for a a into the earnings cycle. Steve is here with us for the full hour, and well be dissecting the market moves. Lets focus on the big stories the pharma deal, more fallout for boeing, and eamon javers. Viagra, lipitor, xanax and the epipen, pfizer is going to spin off or divest its up patent business and combine with mylan, and the new company will do about 20 billion in annual sales. It will get a new name and be domicile in the United States, a fact that could be attributed to u. S. Tax reform an