More Domestic Travel to a little more overseas travel now. Theaad lets get to markets and have a look at what is going on. Nikkei, in with the leading japanese shares, just seeing stocks drifting to the upside. We did see jobless numbers come out. Slightly better than expected, looking for a 3 jobless rate, but 2. 9 . Looking elsewhere, retail sales out of hong kong, looking also at the futures for the u. S. , pretty much flat. Asian equities drifting slightly to the upside. Looking at the shanghai composite, lets look at how the gpi is behaving as well. Just about flat. The shanghai comp, 0. 2 lower. Chinese Economic Activity continued to rebound. Expansion in manufacturing activity, just slowing slightly there. A Rate Decision out of australia later on. Expecting the rba to keep rates. And the singapore market 0. 6 lower. Quick check on the currency is, weve got a fifth straight monthly drop for the dollar. Bloomberg dollar index down by 0. 25 . The yen, a tad weaker. Euro currently
In terms of pmis. May look ata data august manufacturing pmi, 51. 7, in line with expectations. Economists were expecting 51. 7. The dollar dropping to a two year low. U. S. Features climbing after chinese manufacturing data that indicated exports are underpinning a recovery, and the euro leading the charge against the dollar. The weaker dollar fueled commodities with copper climbing. Lets get to the bloomberg first word news in london, this is laura wright. Expectgermany does not economic fallout from the coronavirus to be as bad as previously thought. The updated forecasts are officially released today. Europes biggest economy has staged a rebound after collapsing in the Second Quarter. Global trade is on course to recover more quickly than the 2008 financial crisis, according to germanys institute for the world economy. It said shipping volumes are back at levels faster than it took after the lehman collapse. Argentina has received support to restructure its overseas debt , that pav
Right lets not get top of cutting right lets not forget that the fed has been buying bonds again yet officials still insist that it was that the fed has been buying bonds again yet officials still insist that it was too stable as the funds were safe for water to fund raise for the for the full month rather than a few evil will keep doing well well that stabilizing was at a clip of 60000000000. 00 a month state which is almost as a was at a clip of 60000000000. 00 a month which is almost p. Q. Each year in the Great Recession and lets not forget the medieval pop in the greatest recession and lets not forget the repo populace still isnt over yet as there is a 130000000000. 00 revolving repos the syllabi bill isnt over yet as there is a 130000000000. 00 revolving repos the syllabi trying to reliquefy the Banking System every night the Central Banks banks trying to really liquefy the Banking System every night the Central Bank Balance sheet expanded by over 100000000000. 00 over the past m
The coastal states amid the still today in studio to help us sort through the safety concerns in the coastal states a myth. That is a lets go and. That is to lets go and dive right in. The u. S. Economy grew at a 1. 9 percent annualized rate. The u. S. Economy grew at a 1. 9 percent annualized rate beating expectations of 1. 6 percent but still below the already weak 2nd quarter per expectations of 1. 6 percent but still below the already weak 2nd quarter print this 3rd Quarter Report reflected increases in Consumer Spending household investment this 3rd Quarter Report reflected increases in Consumer Spending household investments and exports while Business Investment inventory investments decreased personal comments and exports while Business Investment inventory investments decreased personal. And was the main driver as American Household spending rose 2. 9 percent growth in private domestic investment higher consumption was the main driver as American Household spending rose to 1. 5
At the Capital Exchange event this morning making a ton of news. Closing the deal. Ibms 34 billion acquisition of red hat has closed both ceos will be with us in just a moment. As we said, pepsi beats the street, strong snack and beverage sales backs the 2019 forecast Hugh Johnston will join us straight ahead. Futures lower ahead of tomorrows capitol hill testimony by fed chair powell. Moments ago at the Capital Exchange event in washington, larry kudlow offered his views on the fed to our kelly evans. Take a listen. Price signals suggest as they have all year going back to last autumn that last policy move in december was unnecessary and i think they could take it back. Price level stability, steady dollar, is what the fed should aim for in my view among the things he said, defended a rate cut this month, said no effort to remove powell at the president time. Mnuchin, lighthizer may go to china. Larry is the happy warrior in this era everything he said made me feel better, made the ma