Record. Manus it is daybreak europe. The words of the Vice President of the United States of america now open up a new salvo in the trade wars. Those words are the president has made it clear it is going to be very hard for us to do a deal with china. Geopolitics and human rights is the new escalation in trade wars. Nejra it is interesting, the timing of these two stories coming through both having an impact on the markets in terms of the hong kong bill and how that could have an impact on the negotiations. They are going to go back to that may template in terms of rolling back tariffs. We know how much hope there was ahead of that only to be thwarted later on. Highrises of the beijing. We have come here specifically to host some pretty good interviews. The roster is pretty high quality. It is the Bloomberg News Economy Forum. We will speak to the Standard Chartered ceo and the ubs group ceo. We are going to catch up with the Goldman Sachs chairman and ceo david solomon. The former whi
The speaker pro tempore the house will be in order. The chair lays before the house a communication from the spe speaker. The clerk the speakers rooms, washington, d. C. September 28, 2023. I hereby appoint the honorable Glenn Thompson to act as speaker pro tempore on the day. Signed, kevin mccarthy, speaker of the house of representatives. The speaker pro tempore the prayer will be offered by chaplain kibben. The chaplain would you pray with me . Let all who believe in you, o god, offer their supplications, their prairks their intersessions and their thanksgivings on behalf of our leaders and all who serve in positions of authority. Let us each pause to take advantage of the privilege you have given us to pray for the men and women of this congress. Lay on us the American People, the awareness of our responsibility to raise our voices, not to condemn or cajole, but to pray to you, that you would intercede for our lawmaker, and to give thanks to you, showing our deeper gratitude for th
In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I
Adp in line at 177. And our road map begins with apples iphone sales disappointing. Why the company says future product rumors could be to blame. Private sector hiring slows. Will signs of a cooling job market change the feds potential rate hike plans . And a food rally, mondelez and yum brands beat the expectations. Mcdonalds gets an upgrade at goldman up. The iphone shares disappoint and tim cook said we are quote we are seeing a delay in purchasing behavior that we think is a consequence of the number of rumors and reports about future products. That is happening outside of Greater China. Jim, it will be interesting to watch you get him to expand on that. It is going to be the smallest gap up or down for apple on earnings in a couple of years. Well, look, i think that this is one of those where if we looked at it as a Consumer Products company, wow, they beat by eight cents, look at this return of capital its amazing. But you know what, that is not the way that the street views appl
Called recall. Shares remained suspended in tokyo. A change at nestle, dan loeb once more urgency as its fund builds up its stake in the global food giant. Bailout, mored imf loans as mongolia begins to vote for a new president. Thing whichther dominated the trading week, oil falling into a bear market, falling from the peak in february, down 20 . I want to bring this chart up, 355 i was going to bring it up, but we will not. It shows the oil price and its relationship with gold, should be a bit cautious out there. We will discuss that in the course of the program. Lets get over to shery ahn. We should be seeing markets in malaysia and singapore open, but they are on holidays with india, indonesia, and philippines. This session looks positive, the regional benchmark gaining with australia leading gains. Do keep an eye on commodities. We are hearing competition over rios coal assets intensifies, it could be upping its bid to match glencore. When it comes to commodities, keep an eye on c