This is daybreak australia. We are still an hour away from the start of asias major market. Betty a brandnew week, but it will be a short week. It is just after 5 00 p. M. In new york. The thanksgiving holiday break already. Last week we saw a second decline in u. S. Stock. We ended on a red note. The s p and dow off by about one or two points as well. Decline, twoek of an a row since august. It continues to dog investors. Where is the fed going to go next year . Beheadedl tax reform and will we get it done by the end of this year . These Research Notes coming through last week. You have this market, nothing seems to bother it. You have something skittish starting to build, it seems like every headline might comes to that tax reform seems to be hurting the markets as well. We get this brandnew trading week started, lets take a look at new zealand where trading is underway. At about 1 10 of 1 . Australia, coupled members speaking early this morning about financial stability. Cindy futur
You do see the hurricane and justin numbers and the hurricane affected numbers in the prior couple of months. As we look at stocks, we are seeing a jockeying for a position after what we have seen over the past week. The rotation out of technology and other winners of the year and into areas like financials and industrials for example. Flipping his performance as is the nasdaq. The s p stuff in the middle between the two. We are seeing a rebound in some of the names that have been beat up in the past week or so. Mcdonalds stocks, to buy over jeffries. Andy bearish boost his eyes target to the highest in the street, 200. Well positioned to continue to outperform, a combination of initiatives, remodeling, deliveries will make a 3 comparable usl very visible here. With its numbers as well. Comparable sales better than estimated. And the gross margin also topped expectations up to 3 . Reallyductors have been beat up with since technology in the past week, they have fallen for private five
Lots to talk about. Looking at chinese debt, its another way of looking at all of this as the Deleveraging Campaign continues. , have a up the chart look at this is the borrowing binge. It has really been chronic. It is a chronic concern. Looking at this, we have total 206 of gdp, higher then twice the average economies. Should we be paying that much attention to the total amount or should we be looking ahead . This is deleveraging, the push that we have. There could be some light at the end of the tunnel for the naysayers about the chinese economy. Kong, shenzhen, shanghai and just under half an hour. And we have singapore, taipei, and kuala lumpur. On the street of dreams overnight. A tech rally, it was felt by the draw we saw in metals. It could be in for an interesting session. We will take a look at the big picture. The longest losing streak this year. A dollar. Tracking the decline into your treasury yields. Some of the tax talk optimism. Sliding with bond yields on the gdp. Seei
Year this all has been happening as treasury yields started to pick up yesterday that kicked off the concerns the twoyear treasury yesterday topping 2. 16 . That was the highest level since september 8, 2008. You can see the twoyear this morning, yields have come back down a bit 2. 108 the tenyear is where the focus was yesterday. The yield there nearing 2. 73 . That yield backed off a bit, too. We will see the last meeting of fed chair janet yellen today at the fomc nice stories about janet yellen today the finale here as jay powell gets ready to begin february 1st. Some big stories were watching this morning jpmorgan saying that jamie dimon will stay in his role for about five more years. That time frame could suggest hes not planning on running for Political Office which has been speculated about for some time we talked to him about that last week in davos on this show the bank is promoting daniel pinto and gordon smith to copresident s and coos pinto oversees Corporate Investment b
Thats something weve been watching so closely. And right now the yield pushing up once again for the tenyear, 2. 741 30year at 2. 967 the twoyear, 2. 165 . Facebook posting betterthanexpected earnings, but users spent less time on the social network in the latest quarter. The number of daily users in north america also dropped for the first time shares initially dropped but then recovered on the Conference Call the cfo saying they are maintaining the 2018 expense forecast and suggesting the tech giant would benefit from a weaker dollar in the first half of the year. Well talk about this in a minute what stunned me was the amount they said 50 million user hours a day which is only 5 which tells you about how much people are using facebook i see that as a positive. For society for Society Millennials its not just millennials go experience life. You supposedly experiential life dont experience a screen. You need to do the experiential so you can put it on facebook, so other people can exp