Leading economic indicator. David the big question is what can be done about the slower pace. We will come back to you and talk about that. First we want to go to david powell in london because we have German Service numbers not encouraging. David p. there was a downward revision to the servicing pmi for the month of september on top of an initial decline we already knew about. Evidence of a slow down in the Manufacturing Sector is spreading to the Services Sector , affecting the entire economy. David how much of this is trade , and if so what can Angela Merkel do about it, if anything . David p. germany is more exposed than any country in the world to international trade. It has one of the Worlds Largest trade surpluses. It is affected by the trade wars. The blow to confidence that is having not only on trade itself but on investment plans. Fortunately, germany also has another record. That is for fiscal responsibility, fiscal rectitude, and there is a lot of room for germany to spend
Tumble. Paul the services session in the u. S. The board. On across treasury yields rallying. The s p 500 jumped into a fiveweek high. The 50 day moving average. Tech shares let the gains on renewed optimism over trade and we had rally at the twoyear yield. At one point, it jumped by the most in about a decade. We had very strong Economic Data when it came to the private payrolls numbers but also little changed when it came to the jobless claims, so the focus is turning to the u. S. August job reports that are coming out tomorrow. U. S. Futures unchanged. Lets see how we are setting up for asia. Sophie it remains to be seen whether this will continue after global stocks posted arrest day gainin since two since january. Hong kong on the radar after Derivatives Trading faced pickups on thursday. We have the nikkei futures in chicago looking to gain ground after the nikkei 225 rolls to a win month high on thursday. Japanese data on cap. Tap. Sydney futures gaining ground, climbing to a on
Will look like not much changed. Thats characterized the session with a short detour south earlier in the day after we got the i sm services report. Not much activity in terms of price action. Thes become the norm 41st straight session weve seen a movement of less than 1 on the s p 500. Take a look at the bloomberg for an illustration of that. July 8 is the last time we exceeded the 1 threshold for the major benchmark. Volume today has picked up a little bit, about 6 above the 30 day average for the s p 500. We have a lot of dealmaking to talk about. Monsanto, we have been watching that even though it has been falling after a buyer raised its head. And we have them bridge acquiring spectra energy. That itinteresting is was lower in premarket trading. Has turned higher. This will become a large Energy Infrastructure player. The largest owner and operator of type lines. A couple ofwatching carl icahnassociated stocks. After vwrising today announced it would take a 16. 6 truck maker. Ther