In the United States, are expected them to cut rate another quarter point, dropping the ball on all of this and president declaring not even two weeks ago that hes an enemy, reminder how easy it is to make friends in the city, dow 75 points, lets get the latest first on the trade front on whats going on there and growing talk that at least the talks are back on and so far no one is throwing dagerds. No one is throwing at each other, the jobs are fundamentally strong, 130,000 jobs in august, 3. 3 over the past months, the white house economic adviser say it doesnt really matter that the jobs missed the estimate because the Labor Force Participation edged up. The people on the fringes of this come are coming in and getting jobs, if you peel back some of the numbers, consumer is still spending and thats in construction 14,000 jobs in construction, half in Residential Home construction, people buying homes, consumers are buying, the other half divided among specialty trade construction and
Every other participant on the fomc at least once per cycle. I think this arrangement i reserve banks around the country and seven governors guarantees that we will have a diverse view of perspectives around the table. The reserve Bank President s are chosen by their boards of directors who are largely privatesector people but with the approval of the board. I think this system guarantees a diversity of opinions. There is that risk of groupthink. If everyone went to the same schools, took the same professors we dont have that. We have people coming in every eight weeks with a different views, and i would not have it any other way. I spent a lot of years in the investment business. What you really want before you make an investment is to have the smartest person in the room try to explain why this is a bad idea. Not after you make the investment, but before. I place huge value on that. I have terrific colleagues on the fomc and i really do welcome all of that. It is a lot of consulting,
Nevertheless, stocks are rallying, the s p 500 back above 3000. The dollar index almost reached 99. It is still a lot stronger but it is trading at 98. 61 now and that is having an impact on other Asset Classes like crude oil. Gold as well coming off a little bit. Some of the stocks that are moving in the s p 500, Restaurant Brands and Food Companies continuing their outperformance. Kellogg up more than 10 . Also yum brands had better sales. Performers in the s p 500 are performing very poorly, losing almost a quarter of their market capitalization. Analysts saying there is nothing left right now in this company. Problem withhad a its drilling wells. They space them to close together in part of the Permian Basin and they have to get rid of some and that is causing serious issues. Guy good stuff. Governor mark carney says he is less confident about the economy amidst a no deal brexit. Since may, global trade tensions have intensified, little activity has remained a no dealhe idea of bre
Deal tesco hales a strong start to the year but uk sales slow in the latest quarter and a calmer day in hong kong after massive protests against the extradition bill turned violent forcing the closure of government offices while beijing looks to allay investor concerns about the unrest good morning its been a relatively strong start for the day across europe you can see the ftse is 0. 15 higher dax in germany trading 0. 40 higher in paris, the cac 40 is slightly above the flat line. In italy, the ftse mib trading about a quarter percent higher lets look at the sectors behind those numbers to see where the positive signs are coming from the healthcare sector up almost three quarters of a percent. Telecoms trading twothirds of a percent higher real estate a half percent up on the day. The bank stocks, you can see across europe, they are trading lower as are Household Goods and some of those media companies. A huge focus of the media space in europe over havent days. That will be somethin
We saw a little bit of volatility with stocks starting the day on a down note. Crude oil is the one to watch after this attack on oil tankers after the tanker incident in the gulf of oman. We will be speaking to reporters on the ground. This is the picture for the u. S. 10 year yield. Also looking at the pound but this is the first day were we have u. K. Lawmakers doing the first round of voting. Voting to choose the next Prime Minister want to choose the leader of the tory party. Minister and to choose the leader of the tory party. Coming up next, we speak to the chief executive of the Swiss National bank after their policy decision. But first, lets get bloomberg first word news. Hong kong lawmakers have scrapped a debate on controversial extradition legislation as tensions remain high between police and protesters. The question turns to what happens next and if this will become a prolonged protest. Some say hong kong is not a safe place to keep assets. If you are an investment banker